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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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Closing Inventory would be standing at $10000

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The cost that forms part of the cost of inventory are all those production costs that are necessary to convert it into finished goods which in this case is:

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Assume the spot Swiss franc is $0.7000 and the six-month forward rate is $0.6950. What is the minimum price that a six-month Ame
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The spot price = $0.7000 = 70 cents, The forward rate = $0.6950 = 69.5 cents and the call option with striking price = $0.6800 = 68.00 cents

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Your firm needs a computerized line-boring machine that costs $90,000 and requires $16,000 in maintenance costs for each year of
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Answer:

The aftertax salvage value of the machine is D) $10,134

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Hi. first, we need to find out the book value of the machine at the selling date, that is 3 years from now, and the book value is as follows.

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