Answer:
(a)
Payment = $4,459
(b)
payment = $4,120
Explanation:
solution
we know that Payment will be here
in 1st part (a)
payment = Mercahndise - sales and allwances - discount + frieght ..............1
so here
Discount = (merchandise - sales return and allowance) × Discount% .........2
put here value
Discount = ( 5,700 - 1600 ) × 1%
Discount = $41
so
from equation 1 payment will be
Payment = 5700 - 1600 - 41+400
Payment = $4,459
and
in 2nd part (b)
from equation 2
put the value
Discount = (4,800 - 800 ) × 2%
Discount = $80
so
Payment will be here
payment = 4800 - 800 - 80 + 200
payment = $4,120
Answer:
Ending inventory cost= $5,556.92
Explanation:
Giving the following information:
Mar. 1 Beginning inventory 900 $ 7.26
Mar. 10 Purchase 520 7.76
Mar. 16 Purchase 452 8.36
Mar. 23 Purchase 510 9.06
Units sold= 1,760
<u>Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the costs of the last units incorporated into inventory:</u>
<u></u>
Units in ending invnetory= 2,382 - 1760= 622
Ending inventory cost= 510*9.06 + 112*8.36
Ending inventory cost= $5,556.92
I would say letter “E” but the government already knows all of our personal information, so whats the point... probably being watched threw your computer/phone camera rn
Answer:
1. Stockholders invested $24,500 cash in the business in exchange for common stock.
Dr Cash 24,500
Cr Common stock 24,500
2. Purchased equipment for $4,500 cash.
Dr Equipment 4,500
Cr Cash 4,500
3. Paid $200 cash for May office rent.
Dr Rent expense 200
Cr Cash 200
4. Paid $600 cash for supplies.
Dr Supplies 600
Cr Cash 600
5. Incurred $350 of advertising costs in the Beacon News on account.
Dr Advertising expense 350
Cr Accounts payable 350
6. Received $4,900 in cash from customers for repair service.
Dr Cash 4,900
Cr Service revenue 4,900
7. Declared and paid a $1,000 cash dividend.
Dr Dividends 1,000
Cr Cash 1,000
