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bogdanovich [222]
3 years ago
11

Prepare the journal entries to record the following transactions on McLeena Company’s books using a perpetual inventory system.

(a) On March 2, Borst Company sold $800,000 of merchandise to McLeena Company on account. The cost of the merchandise sold was $540,000. (b) On March 6, McLeena Company returned $140,000 of the merchandise purchased on March 2. The cost of the merchandise returned was $94,000.
Business
1 answer:
Sonja [21]3 years ago
5 0

Answer:

The journal entries are made as follows;

Explanation:

March 2.   Account Receivable-Mcleena Co.       Dr.$800,000

                Sales Revenue                                 Cr.$800,000

                Cost of Goods Sold                  Dr.$540,000

                Inventory                                    Cr.$540,000

March 6.  Sales Revenue             Dr.$140,000

               A/R-Mcleena Co.          Cr.$140,000

               Inventory                       Dr.$94,000

               Cost of Goods Sold      Cr.$94,000

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Answer:

Financial accounting refer to the financial statement while, managerial is more focus into internal reports

In details, the most difference are as follows:

Aggregation.

Financing reports on the complete firm. While Managerial; at product, division or customer level.

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Financing require certain criteria to ensure precision. It need to prove correct to third parties. While Managerial uses budget, forecast and estimated values.

Reporting focus.

Financial accounting is oriented toward outside

Managerial accounting analysis stays within a company.

Legislation:

Financial accounting faces the GAAP, IFRS and heavy legislation.

Managerial accounting doesn't

Time period.

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Managerial accounting has a future orientation.

Timing.

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3 years ago
Food Well Inc. is an organization that operates several companies that market bulk food products, restaurant equipment, and disp
Nikolay [14]

Food Well is pursuing a Focus differentiation strategy.

<h3>What is Focus differentiation?</h3>

This is known to be a method  used in competitive advantage where a firm tries to outperform its rivals through the act of offering a product that is seen by consumers to be superior to that of competitors even if its price is higher.

It is known to be used in adopting a differentiation focus strategy. Here, the firm is based on narrow market coverage, and others.

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brainly.com/question/9134427

3 0
2 years ago
vasily is a manager at a large snack foods company. vasily believes his company would benefit from being larger and thinks the s
prohojiy [21]

Vasily pushes for an acquisition anyway. The reason for this acquisition is principal agent problem.

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The principal-agent problem is as complex as the range of principal and agent responsibilities. It can happen in any circumstance where the primary or owner of an asset transfers direct control of the asset to a third party or agent.

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3 0
1 year ago
Tom O'Brien has a 2-stock portfolio with a total value of $100,000. $47,500 is invested in Stock A with a beta of 0.75 and the r
Degger [83]

Answer:

1.10

Explanation:

The computation of portfolio's beta is shown below:-

= Stock A Beta × Invested in Stock A ÷ Total value + Stock B Beta × (Total value - Invested in Stock A) ÷ Invested in Stock A

= 0.75 × $47,500 ÷ $100,000 + 1.42 × ($100,000 - $47,500) ÷ $100,000

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makvit [3.9K]

Answer:

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Explanation:

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It is high time because if the spread will increase at the same rate then controlling the disease would become difficult.

Regards,

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7 0
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