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hram777 [196]
3 years ago
5

At the beginning of the current season on April 1, the ledger of Sandhill Pro Shop showed Cash $2,950; Inventory $3,500; and Com

mon Stock $3,450. The following transactions were completed during April 2022.
Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $2,500, terms 2/10, n/60.
7 Paid freight on Arnie purchase $80.
9 Received credit from Arnie Co. for merchandise returned $700.
10 Sold merchandise on account to members $1,340, terms n/30. The
merchandise sold had a cost of $920.
12 Purchased golf shoes, sweaters, and other accessories on account from
Woods Sportswear $1,050, terms 2/10, n/30. 14 Paid Arnie Co. in full.
17 Received credit from Woods Sportswear for merchandise returned $50.
20 Made sales on account to members $910, terms n/30. The cost of the
merchandise sold was $550.
21 Paid Woods Sportswear in full.
27 Granted an allowance to members for clothing that did not fit properly $70.
30 Received payments on account from members $1,400.
Journalize the April transactions using a perpetual inventory system.
Business
1 answer:
MA_775_DIABLO [31]3 years ago
3 0

Answer:

Sandhill Pro Shop

Journal Entries:

Apr. 5: Debit Inventory $2,500

Credit Accounts Payable (Arnie Co.) $2,500

To record the purchase of goods on account, terms 2/10, n/60.

Apr. 7: Debit Freight-in $80

Credit Cash $80

To record the payment for freight on goods.

Apr. 9: Debit Accounts Payable (Arnie Co.) $700

Credit Inventory $700

To record the return of goods on account.

Apr. 10: Debit Accounts Receivable $1,340

Credit Sales Revenue $1,340

To record the sale of goods on account, terms n/30.

Debit Cost of goods sold $920

Credit Inventory $920

To record the cost of goods sold.

Apr. 12: Debit Inventory $1,050

Credit Accounts Payable (Woods Sportswear) $1,050

To record the purchase of goods on account, terms 2/10, n/30.

Apr. 14: Debit Accounts Payable (Arnie Co.) $1,800

Credit Cash $1,764

Credit Cash Discounts $36

To record the full settlement on account.

Apr. 17: Debit Accounts Payable (Woods Sportswear) $50

Credit Inventory $50

To record the return of goods on account.

Apr. 20: Debit Accounts Receivable (Members) $910

Credit Sales Revenue $910, terms n/30.

To record the sale of goods to members.

Debit Cost of goods sold $550

Credit Inventory $550

To record the cost of goods sold.

Apr. 21: Debit Accounts Payable (Woods Sportswear) $1,000

Credit Cash $980

Credit Cash Discounts $20

To record full settlement on account.

Apr. 27: Debit Sales Allowances $70

Credit Accounts Receivable (Members) $70

To record the sales allowances granted members for improperly fit clothing.

Apr. 30: Debit Cash $1,400

Credit Accounts Receivable (Members) $1,400

To record the receipt of cash from members on account.

Explanation:

a) Data and Analysis:

Apr. 5: Inventory $2,500 Accounts Payable (Arnie Co.) $2,500, terms 2/10, n/60.

Apr. 7: Freight-in $80 Cash $80

Apr. 9: Accounts Payable (Arnie Co.) $700 Inventory $700

Apr. 10: Accounts Receivable $1,340 Sales Revenue $1,340, terms n/30.

Cost of goods sold $920 Inventory $920

Apr. 12: Inventory $1,050 Accounts Payable (Woods Sportswear) $1,050, terms 2/10, n/30.

Apr. 14: Accounts Payable (Arnie Co.) $1,800 Cash $1,764  Cash Discounts $36

Apr. 17: Accounts Payable (Woods Sportswear) $50 Inventory $50

Apr. 20: Accounts Receivable $910 Sales Revenue $910, terms n/30.

Cost of goods sold $550 Inventory $550

Apr. 21: Accounts Payable (Woods Sportswear) $1,000 Cash $980 Cash Discounts $20

Apr. 27: Sales Allowances $70 Accounts Receivable $70

Apr. 30: Cash $1,400 Accounts Receivable (Members) $1,400

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The closing cost of the house mortgage is lower than the envisioned by 0.5%.

<h3>What is the closing cost?</h3>

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Those expenses may also encompass mortgage origination fees, cut price points, appraisal fees, name searches, name insurance, surveys, taxes, deed recording fees, and credit score file charges.

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On July 1, 2017, Crane Inc. made two sales.
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Step-by-step explanation:

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4 0
2 years ago
Angela's monthly disposable income is ​$2 comma 3682,368. She has monthly expenses of ​$2 comma 1272,127 ​(including recreationa
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Answer:

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Briefly explain the differences between functional, matrix, and project organizations. Describe how each structure affects the m
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Answer

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Matrix organisation, mirror a mix of practical and projectized characteristics. Matrix organisation can be named feeble, adjusted, or solid relying upon the overall degree of intensity and impact among utilitarian and undertaking chiefs. Powerless framework associations keep up huge numbers of the qualities of a practical association, and the job of the venture director is even more an organizer or expediter.A venture expediter fills in as staff collaborator and correspondences facilitator. The expediter can't settle on or implement choices. Task facilitators have capacity to settle on certain choices, have some position, and report to a more elevated level supervisor. Solid framework associations have a large number of the attributes of the projectized association, and have full-time venture supervisors with extensive position and full-time venture regulatory staff. While the reasonable framework association perceives the requirement for a task supervisor, it doesn't give the venture administrator the full authority over the undertaking and venture financing.

In a projectized organisation, colleagues are regularly colocated. The greater part of the association's resources are engaged with venture work, and undertaking directors have a lot of freedom and authority. Virtualcollaboration strategies are regularly used to achieve the advantages of colocated groups. Projectized organizations often have authoritative units called divisions, however they can either report legitimately to the task director or provide bolster administrations to the different undertakings

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In a functional organisation, extends that exist inside a solitary useful division produce no specific authoritative issues, yet extends that cut across utilitarian divisions can be testing. Why? Tasks that stretch out across practical divisions are requesting to oversee on the grounds that the undertaking director has no direct utilitarian position and should get ceaseless collaboration and backing from useful supervisors of different divisions so as to meet venture goals. This can get confusing.

Since the matrix structure offers position to both venture administrators(project manager) and utilitarian directors(functional manager) the result is to give an increasingly consistent division of work and at last to construct a more grounded group culture. In any case, the potential for struggle between useful supervisors and task administrators still exists on the grounds that there is still asset strife. Everybody who is on a task group still has two supervisors – their practical director and their venture administrator.

In a projectised organisation authority is incorporated. Since ventures are expelled from useful divisions the lines of correspondence are abbreviated. Both these elements upgrade the capacity to settle on quick choices. Undertaking groups build up a solid feeling of character which thusly makes a significant level of responsibility from colleagues. Because of their contribution in successive ventures of a comparable sort projectised associations can create and keep up a long haul assortment of experience and aptitudes in explicit regions.

Obviously projectised organisation make it simpler to run ventures on the grounds that the whole structure is set up for that reason. However, on the off chance that you are dealing with a task inside other hierarchical structures, at that point perceiving and understanding the effects will raise your attention to the potential undertaking the board entanglements, so you can be proactive about settling them. Correspondence, compromise and group building will be vital to your prosperity.

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