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yanalaym [24]
3 years ago
12

On September 1, Boylan Office Supply had an inventory of 30 calculators at a cost of $18 each. The company uses a perpetual inve

ntory system. During September, the following transactions occurred.
Sept. 6 Purchased with cash 80 calculators at $20 each from Guthrie Co.
Sept. 9 Paid freight of $80 on calculators purchased from Guthrie Co.
Sept. 10 Returned 3 calculators to Guthrie Co. for $63 cash (including freight) because they did not meet specifications.
Sept. 12 Sold 26 calculators costing $21 (including freight) for $31 each on account to Lee Book Store, terms n/30.
Sept. 14 Granted credit of $31 to Lee Book Store for the return of one calculator that was not ordered.
Sept. 20 Sold 30 calculators costing $21 for $32 each on account to Orr's Card Shop, terms n/30.
Journalize the September transactions.
Business
1 answer:
natima [27]3 years ago
3 0

Answer:

Sept 6.   DR Inventory (80 * 20)                                  1,600  

                    CR Accounts Payable                                             $1,600

Sept 9.    DR Inventory                                                    80

                    CR Cash                                                                   80

Sept 10.  DR Accounts Payable                                     63

                    CR Inventory                                                            63

Sept 12.  DR Accounts Receivable (26 * 31)                806

                     CR Sales Revenue                                                806

               DR Cost of Goods Sold  (21 * 26)                 546

                     CR Inventory                                                         546

Sept 14.    DR Sales Returns and Allowances                 31

                     CR Accounts Receivable                                        31

                 DR Inventory                                                  21

                      CR Cost of Goods Sold                                         21

Sept. 20    DR Accounts Receivable (30 * 32)             960

                        CR Sales Revenue                                              960

                  DR Cost of Goods Sold (30 * 21)               630

                        CR Inventory                                                        630

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Prior to the closing, one final inspection should take place. This is also known as the final what?
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Prior to the closing, one final inspection should take place. This is also known as the final walk through.

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Just prior to closing, a walk-through inspection is performed to make sure the property is still in good shape, there hasn't been any additional damage, and all of the fixtures included in the sale are still there.

A buyer and their real estate agent will tour the house together during the walkthrough. They'll make sure there isn't any fresh damage, that all of the house's systems and appliances that are included in the sale are still in good functioning order, and that the house is clean.

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8 0
1 year ago
Current information for the Healey Company follows: Beginning raw materials inventory $15,200 Raw material purchases 60,000 Endi
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Answer:

125,800

Explanation:

FIRST we check how many materials were used in production

beg raw + purchases = ending raw + used in production

15,200 + 60,000 = 16,600 + used in production

used in production = 58,600

SECOND the cost added during the period for the three main cost components

Raw materials 58,600

DL 42,800

MOH 30,000

cost added during the period 131,400

LASTLY the COGM

Beg WIP + cost added = ending + COGM

22,400 + 131,400 = 28,000 + COGM

COGM = 153,800 - 28,000

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snow_tiger [21]

Answer:

The following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States

B) The costs of overfishing and other overly intensive uses of resources.

C) The value of baby-sitting services, when the babysitter is paid in cash and the transaction isn't reported to the government.

D) The leisure time enjoyed by Americans

Explanation:

GDP is a tool that is used to measure a nation's economic performance, However, it has limitations due to its exclusion of non-market transactions.

  1. The limitations identified can be summarized as:
  2. GDP does not incorporate any measures of welfare.
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