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Tems11 [23]
2 years ago
11

At the beginning of the year, TRK started with $15,000 in beginning inventory. Throughout the period, TRK purchased $40,000 wort

h of inventory, negotiated $2,000 of purchase allowances, returned $500 of inventory, received a $5,700 purchase discount for paying early and paid $300 in shipping charges for their inventory. Given this information, determine goods available for sale.
Business
1 answer:
serious [3.7K]2 years ago
8 0

Answer:

$47,100

Explanation:

The cost of goods available for sale is the sum of the opening balance and the net purchases during the period.

The net purchases is the difference between the total purchases and the allowances and discounts and returns.

Hence,

Cost of goods available for sale

= $15,000 + $40,000 - $2,000 - $500 - $5,700 + $300

= $47,100

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10 months ago
A company's Office Supplies account shows a beginning balance of $630 and an ending balance of $460. If office supplies expense
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The correct answer is that there was $3,080 worth of office supplies purchased during the period.

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Speedy Package is California's largest express transportation company. In addition to the largest fleet of all-cargo aircraft in
tia_tia [17]

Answer:

Date    General Journal                         Debit       Credit

            Cash                                         $15,400

            Accumulated Depreciation    $39,600

                    Equipment - Delivery truck              $55,000

           (Assuming the truck was sold for $15,400 cash)

            Cash                                         $16,500

            Accumulated Depreciation     $39,600

                     Gain on sale                                      $1,100

                     Equipment - Delivery truck              $55,000

            (Assuming the truck was sold for $16,500 cash)

            Cash                                          $12,700

            Accumulated Depreciation      $39,600

            Loss on sale                              $2,700

                      Equipment - Delivery truck               $55,000

             (Assuming the truck was sold for $12,700 cash)

4 0
2 years ago
Q 6.3: Hanson Technology is a computer manufacturer. For years, Hanson has relied on the JIT inventory method. However, due to n
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Answer:

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When companies use the Just in Time (JIT) they reduce their ordinary inventory to a minimum level, without any safety stock and that help them lower costs and improve their efficiency.

Since Hanson is changing from the JIT inventory system to a more traditional inventory system, their inventory levels should increase to include certain safety stock levels.

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