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3 years ago

Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system.

Business

1 answer:

marta [7]3 years ago

4 0

Answer:

Evans Company

General Journal

Part a.

Debit : Cash $645

Debit : Cost of goods sold $375

Credit : Sales Revenue $645

Credit : Merchandise $375

Part b.

Debit : Cash $432

Debit : Cost of goods sold $195

Credit : Sales Revenue $432

Credit : Merchandise $195

Part c.

Debit : Accounts Receivable $670

Debit : Cost of goods sold $438

Credit : Sales Revenue $670

Credit : Merchandise $438

Part d.

Debit : Credit Card fees $85

Credit : Cash $85

Explanation:

The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.

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Norma-Jean [14]

Answer:

HBSD should take the discount because it will

lead to as savings of $1,120.00

Explanation:

step 1

Determine the the inventory cost of EOQ

EOQ =√ (2× Co× D)/Ch

= √(2× 100× 50,000)/ 80% × $0.50

= 5,000 units

Inventory cost = Purchase cost + Ordering cost + carrying cost

Purchase cost = 50,000 × $0.50 = 25,000.00

Ordering cost = (50,000/5000)× 100 = 1,000

carrying cost = (5000/2) × $0.50 × 80% = 1,000

Total cost 27,000.

Step 2

Determine the inventory cost for order of 10,000 gallons

Order of 10,000 gallons

Purchase cost = $(0.50-0.03) × 50,000 = 23,500.

Ordering cost = (50,000/10,000) × 100 = 500

Carrying cost = (10000/2) × $(0.50-0.03)× 80% =1880

Total cost 25,880.

Step 3

Compare the cost under the two options

HBSD should take the discount because it will

lead to as savings of $1,120.00 i.e (927,000 - 25,880.)

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3 years ago

The following are a few of the accounts of aim delivery corpation. 1. Wages Payable 2. Accounts Payable 3. Accounts Receivable 4

DedPeter [7]

Answer and Explanation:

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1. current liability

2. current liability

3. Current assets

4. Non current asset or fixed asset

5. Current asset

6. Stockholder equity

7. Non current asset or fixed asset

8. Current liability

9. Non currnet asset or fixed asset

10 Current liability

11 Stockholder equity

12 Current asset

13 Current liability

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3 years ago

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nataly862011 [7]

Answer:

Explanation:

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3 years ago

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Fernandez Corporation purchased a truck at the beginning of 2014 for $50,000. The truck is estimated to have a salvage value of

valentinak56 [21]

Answer:

The depreciation for 2014 is $6900

The depreciation for 2015 is $9300

Explanation:

Please see attachment .

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3 years ago

The supply curve for a given product indicates that price must be lowered in order to increase the quantity supplied.

Fed [463]

Answer:

b) False

Explanation:

The supply curve is upward sloping which shows the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

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