1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pochemuha
3 years ago
14

DS Unlimited has the following transactions during August.

Business
1 answer:
stealth61 [152]3 years ago
4 0

Solution:

Inventory                  21,320 debit

        A/P                                            21,320 credit

--to record purchase from Game Girl --

Inventory                   360 debit

       Cash                                           360 credit

--to record the freight-in--

A/P                            1,560 debit

    Inventory                                     1,560 credit

--to record returned goods to GameGirl--

A/P                          19,760 debit

      Inventory                                       395 credit

      Cash                                           19,365 credit

--to record payment to GameGirl--

accounts receivables       17,360 debit

             sales revenues                         17,360 credit

COGS                               8,406 debit

                                                              8,406 credit

--to record sale and subsequent cost of the sale--

total amount of the purchase in dollars:

82 game devices x 260 dollars each = 21,320

six returned devices:

6 x 260 = 1,560

invoice balance: 21,320 - 1,560 = 19,760

discount because payment within the first ten days:

19,760 x 2% = 395

final value: 19,760 - 395 = 19,365

sale of 62 devices at 280 = 17,360

You might be interested in
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $800 account of a customer,
saul85 [17]

Answer:

Explanation:

The journal entries are shown below:

On January 31

Allowance for doubtful accounts A/c Dr $800

         To Account receivable A/c $800

(Being the written off amount is recorded)

On January 31

Account receivable A/c Dr $300

           To Allowance for doubtful accounts A/c $300

(Being the reverse entry is made)

On March 9

Cash A/c Dr $300

      To Accounts receivable A/c $300

(Being the amount is collected)

7 0
3 years ago
What effects does this journal entry have on the accounts? decrease cash and increase land decrease cash and decrease land incre
mezya [45]

Answer:

Decrease cash and increase land

Explanation:

The transaction is:

Account             Debit        Credit

Land                $105,000

Cash                                  $105,000

Purchased land for business.

Both land and cash are assets: they are debited when they increased, and they are credited when they decrease.

Because cash was used to purchase the land, cash decreases and land increases.

3 0
3 years ago
The misperceptions theory of the short-run aggregate supply curve says that the quantity of output supplied will increase if the
Illusion [34]

Answer:

Option C is correct

Explanation:

This means an increase in actual price would make quantity aggregate supply curve to shift to the right.

3 0
3 years ago
​ There has been a data breach at your business and the business has lost some customer data. It has led to angry customers who
cupoosta [38]

Answer:

activate the forensics analysis team and prepare documentation

Explanation:

A forensics analysis should be done to understate the cause of the data breach and examine properly how this happen then prepare a documentation that helps resolve this issue which will come with solution using the root cause analysis or fish borne diagram to dissect it visually

7 0
3 years ago
Suppose there are 70 million people in the labor force, out of which 60 million are employed, then the unemployment rate is?
ZanzabumX [31]

Suppose there are 70 million people in the labor force, out of which 60 million are employed, then the unemployment rate is: 14.28%.

An unemployed person is someone who does not have a job but is actively looking for one. Employed or Not Employed? You are employed part-time. If you work as a student, the university cafeteria is employed.

Labor force participation rate = (labor force/working age population) x 100 where labor force = employment + unemployment. To solve this problem, we need to know the number of people employed, the number of job seekers, and the working age population.

Learn more about the labor force at

brainly.com/question/24939447

#SPJ4

8 0
2 years ago
Other questions:
  • What is a major difference between the world trade organization (wto) and the world bank?
    15·2 answers
  • A worker is protected from discrimination on the basis of race or color, religion, gender, or natural origin by the
    6·1 answer
  • Jean's Vegetable Market had the following transactions during 2017: 1. Issued $50,000 of par value common stock for cash. 2. Rep
    6·1 answer
  • Which of the following statements explains the relationship between Social Security and Medicare taxes?
    7·2 answers
  • Cajun Cookin' sits on a large landscaped lot. Brian and Sondra have a contract with Lovely Landscapes to mow the lawn and take c
    15·1 answer
  • If a firm is currently in a​ short-run equilibrium earning a​ profit, what impact will a​ lump-sum tax have on its production​ d
    11·1 answer
  • What protocol, developed by Netscape in 1994, is designed to create an encrypted data path between a client and server that coul
    10·2 answers
  • Newhard Company assigns overhead cost to jobs on the basis of 125% of direct labor cost. The job cost sheet for Job 313 includes
    8·1 answer
  • Which of the following is considered the output in the systems thinking example of a decision support system?
    6·1 answer
  • Identify which statement is true of specialty products. Group of answer choices They are made directly available to a consumer t
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!