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anygoal [31]
3 years ago
5

Assume the perpetual inventory; system is used unless stated otherwise. Round all numbers to the nearest whole dollar unless sta

ted otherwise.
Journalizing purchase transactions
Howie Jewelers had the following purchase transactions. Journalize all necessary trans—actions. Explanations are not required.
Jun. 20 Purchased inventory of $5,000 on account from Silk Diamonds, a jewelry importer. Terms were 2/15, n/45, FOB shipping point.
Jun. 20 Paid freight charges, $400.
Jul. 4 Returned $600 of inventory to Silk.
Jul. 14 Paid Silk Diamonds, less return.
Jul. 16 Purchased inventory of $4,400 on account from Shanley Diamonds, a jewelry importer. Terms were 2/10, n/EOM, FOB destination.
Jul. 18 Received a $300 allowance from Shanley Diamonds for damaged but usable goods.
Jul. 24 Paid Shanley Diamonds, less allowance and discount.

Business
1 answer:
Bingel [31]3 years ago
7 0

Answer: Check attachment

Explanation:

In the attachment, note that:

On July 14:

Account payable was calculated as:

= $4400 - $300

= $4100

Merchandise Inventory = $4100 × 2%

= $4100 × 2/100

= $4100 × 0.02

= $82

Cash = $4100 - $82 = $4018.

Check attachment for further explanation.

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3 years ago
Bade Midwifery's cost formula for its wages and salaries is $1,420 per month plus $246 per birth. For the month of October, the
saul85 [17]

Answer:

activity variance =  $984 F

Explanation:

given data

wages and salaries = $1,420 per month

per birth = $246

planned for activity = 107  births

actual level of activity = 103 births

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to find out

activity variance for wages and salaries

solution

we know wages and salaries cost for October is

wages and salaries Planning budget  = 1420 + ( 107 × 246 )

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and

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Wages and salaries  Flexible budget = $26758

so

activity variance = $27742 - $26758

activity variance =  $984 F

4 0
3 years ago
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Answer:

a) high-paying

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4 0
3 years ago
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DENIUS [597]

Answer:

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3 0
3 years ago
Karl Marx's economic theories resulted in which global change?
Aleks04 [339]
Okay this question is a little tricky but I think the answer is B because he was one of the authors of the communist manifesto that states that the means of the production (Which is resources and the buildings that make the goods.) is Managed by the government. So that’s why I think it is B have a nice day :D
8 0
2 years ago
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