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Bad White [126]
3 years ago
14

Brief Exercise 5-3 Flint Company buys merchandise on account from Windsor, Inc.. The selling price of the goods is $1,050, and t

he cost of the goods is $660. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Business
1 answer:
creativ13 [48]3 years ago
6 0

Answer:

<u>Flint Company </u>

DR Merchandise <u>$1,050</u>

CR Accounts Payable <u>$1,050</u>

(<em>To record purchase of merchandise</em>)

<u>Windsor Inc.</u>

DR Accounts Receivable <u>$1,050</u>

CR Sales <u>$1,050</u>

(<em>To record sale of merchandise</em>)

DR Cost of Goods Sold <u>$660</u>

CR Merchandise Inventory <u>$660</u>

(<em>To record change in stock from sale of merchandise</em>)

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3 years ago
Shelby purchased 100 shares of ABCD Growth fund for $10.00 per share. She had income dividends of $15, capital gain distribution
a_sh-v [17]

Answer:

Percentage of total return on Investment = <em>ROI = 17%  </em>

Explanation:

Let’s

ROI = Return on Investment = ?

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3 years ago
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