Date 01/01 01/05 01/08 01/10 01/24 02/01 02/05 02/08 02/10 02/15 02/24 Amount 0.00 2,499,012.00 7,497,036.00 2,998,814.40 59,976.29 624,753.00 2,998,814.40 7,497,036.00 4,198,340.16 1,499,407.20 83,966.80 Transaction Started new business. All Accounts are nil. Bought inventory Sold services Sold all inventory 2% of Sales were returned Paid Rent for the current month Bought inventory Sold services Sold all inventory Paid employees 2% of Sales were returned

Date 01/01 01/05 01/08 01/10 01/24 02/01 02/05 02/08 02/10 02/15 02/24 Amount 0.00 2,499,012.00 7,497,036.00 2,998,814.40 59,976.29 624,753.00 2,998,814.40 7,497,036.00 4,198,340.16 1,499,407.20 83,966.80 Transaction Started new business. All Accounts are nil. Bought inventory Sold services Sold all inventory 2% of Sales were returned Paid Rent for the current month Bought inventory Sold services Sold all inventory Paid employees 2% of Sales were returned

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 4RE: Refer to RE6-3. Assume Long records accounts receivable and sales using the net price method....

See similar textbooks

Similar questions

hrd.6
1 Wook Hint Print ♫ References 6 Sales Cost of goods sold Accounts receivable Numerator: 2821 $ 522,732 269,043 25,300 Numerator: Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Type here to search 1 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? Numerator: 2020 $ 348,488 179,479 20,456 Trend Percent for Net Sales: 1 T 1 1 1 1 2021: T 2020: 1 2019: T 2018: 1 2017: 1 Is the trend percent for Cost of Goods Sold favorable or unfavorable? 2019 $ 279,918 146,254 19,146 Trend Percent for Cost of Goods Sold: 1 Denominator: Denominator: Trend Percent for Accounts Receivable: I Denominator: 2021: 2020: 2019: 2018: 1 2017: 1 Is the trend percent for Accounts Receivable favorable or unfavorable? 1 1 1 O 2018 $ 195,059 101,230 11,352 = = M = = = = = = = = = 2017 $ 148,900 75,939 10, 200 Trend…
General accounting question please provide correct answer
Date Account Titles and Explanation Debit Credit Apr. 20, 2020 Cash 7,440 Unearned Sales Revenue Unearned Service Revenue May 15, 2020 Unearned Sales Revenue 6,093.36 Unearned Service Revenue 1,346.64 Sales Revenue Service Revenue (To record sales) Cost of Goods Sold 4,580 Apr. 17, 2020 Apr. 20, 2020 Inventory May 15, 2020 Sep. 1, 2020 (To record cost of goods sold) Sep. 25, 2020
Choices: P6,550,000 P6,600,000 P6,350,000 P6,650,000
Determine the amount to be paid in full settlement of the invoice assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise Freight paid by seller Freight terms Returns and Allowances 112000 4000 FOB destination, 1/10,Net30 24000 Add your answer
Jj.159.
please help me
Financial accounting question
H1.
Question: The cost of goods sold as a percentage of net sales revenue is (round your answer to two decimal places). Sales Revenue $420,000 Sales Returns and Allowances 1,400 Sales Discounts Net Sales Revenue Cost of Good Sold a) 62.45% b) 62.58% c) 61.90% d) 62.24% 850 417,750 260,000
Ans.