takeAssighment/takeAssignmentMain.do?invoker=&takeAssignmentSew to Cancel Your...F Startup Opportuniti... V How brands are co..AssicBhakti Games is a chain of board game stores. Record entries for the following tA. On October 5, Bhakti purchases and receives inventory from XYZ EntertainmeB. On October 7, Bhakti returns $1,600 worth of the inventory purchased from XC. Bhakti makes payment in full on its purchase from XYZ on October 14.If an amount box does not require an entry, leave it blank.А.Accounts PayableAccounts Receivablec. Merchandise InventorySales DiscountsSalesB. engageNOWv2 | Online teachin x= Ch. 12 Key Terms - Principles of A X/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=falsep Cancel Your.F Startup Opportuniti.. V How brands are co...Assignment Practic.. A COVID-19 Student.Нос С20-13Bhakti Games is a chain of board game stores. Record entries for the following transactions related to Bhakti's purchase of inventory,A. On October 5, Bhakti purchases and receives inventory from XYZ Entertainment for $5,500 with credit terms of 2/10 net 30,B. On October 7, Bhakti returns $1,600 worth of the inventory purchased from XYZ.C. Bhakti makes payment in full on its purchase from XYZ on October 14.If an amount box does not require an entry, leave it blank.А.В.78°F Cloudy

Formula: Sales discount = Sales value x Discount rate

Bhakti Games is a chain of board game stores. Record entries for the following A. On October 5, Bhakti purchases and receives inventory from XYZ Entertainm B. On October 7. Bhakti retuurns $1 600 worth of the invont

Bhakti Games is a chain of board game stores. Record entries for the following A. On October 5, Bhakti purchases and receives inventory from XYZ Entertainm B. On October 7. Bhakti retuurns $1 600 worth of the invont

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please read the questions carefully the First question is asking for journal entry.
GameGirl, Incorporated, has the following transactions during August. August 6 Sold 60 handheld game devices for $150 each to DS Unlimited on account, terms 3/10, net 60. The cost of the 60 game devices sold was $130 each. August 10 DS Unlimited returned four game devices purchased on August 6 since they were defective. August 14 Received full amount due from DS Unlimited. Required:Prepare the transactions for GameGirl, Incorporated, assuming the company uses a perpetual inventory system. The items returned on August 10 were considered worthless to GameGirl and were discarded. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $32 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $18.00 cost 20 units @ $24.00 cost 15 units @ $26.00 cost QS 5-11 (Algo) Perpetual: Assigning costs with FIFO LO P1 Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method.
Use the following information for the Quick Study below. (Algo) (11-14) Skip to question [The following information applies to the questions displayed below.]Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $31 each. Purchases on December 7 10 units @ $17.00 cost Purchases on December 14 20 units @ $23.00 cost Purchases on December 21 15 units @ $25.00 cost QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units sold, eight are from the December 7 purchase and seven are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification.
Record journal entries for the following purchase transactions of Apex Industries. Nov. 6 Purchased 24 computers on credit for $560 per computer. Terms of the purchase are 4/10, n/60, invoice dated November 6. Nov. 10 Returned 5 defective computers for a full refund from the manufacturer. Nov. 22 Paid account in full from the November 6 purchase.
Enter everything inside on the blue boxes please so I'll know how to key it in
At the beginning of June, Circuit Country has a balance in inventory of $2,650. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,350, terms 2/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $330. June 8 Return defective radios to Radio World and receive credit, $300. June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $4,300, that had a cost of $2,850. June 18 Receive payment on account from customers, $3,300. June 20 Purchase radios on account from Sound Unlimited for $3,450, terms 2/10, n/30. June 23 Sell radios to customers for cash, $4,950, that had a cost of $3,250. June 26 Return damaged radios to Sound Unlimited and receive credit of $400. June 28 Pay Sound Unlimited in full.
Use the following information for the Quick Study below. (Algo) (11-14) Skip to question [The following information applies to the questions displayed below.]Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $27 each. Purchases on December 7 10 units @ $13.00 cost Purchases on December 14 20 units @ $19.00 cost Purchases on December 21 15 units @ $21.00 cost QS 5-12 (Algo) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method.
On April5, a customer returns 20 bicycles witha sales price of $250 per bike to Barrio Bikes. Each bike cost Barrio Bikes $100. The customer had yet to pay on their account . The bikes are in sellable condition. Prepare the journal entry or entries to recognize this return if the company uses A. the perpetual inventory system B. the periodic inventory system
A company is the number one online music retailer through its iTunes music store. The company sells iTunes gift cards in $15, $25, and $50 increments. Assume the company sells $19.9 million in iTunes gift cards in November, and customers redeem $12.9 million of the gift cards in December. Required: 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet 1 2 > Record the receipt of cash for gift cards. Note: Enter debits before credits. Date General Journal Debit Credit November 30