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lbvjy [14]
3 years ago
11

He following transactions are for Alonzo Company.

Business
1 answer:
vichka [17]3 years ago
8 0

Answer:

1. Dec. 3

Dr Account Receivable $500,000

Cr Sales Revenue $500,000

Dr Cost of goods sold $330,000

Cr Inventory $330,000

2. Dec. 8

Dr Sales Returns and Allowances $25,000

Cr Accounts Receivable $25,000

3. Dec. 13

Dr Cash $470,250

Cr Sales Discounts $4,750

Cr Accounts Receivable $475,000

Explanation:

Preparation of a tabular summary to record these transactions for Alonzo Company using a perpetual inventory system

1. Dec. 3

Dr Account Receivable $500,000

Cr Sales Revenue $500,000

(To record the sales on account)

Dr Cost of goods sold $330,000

Cr Inventory $330,000

(To record the cost of goods sold)

2. Dec. 8

Dr Sales Returns and Allowances $25,000

Cr Accounts Receivable $25,000

(To record the Sales return and allowance)

3. Dec. 13

Dr Cash $470,250

($475,000 - $4,750)

Cr Sales Discounts $4,750

[($500,000 - $25,000) * 1%]

Cr Accounts Receivable $475,000

($500,000 - $25,000)

(To record the balance due from Arte Co.)

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Suppose you deposit $1,091.00 into an account 6.00 years from today that earns 12.00%. It will be worth $1,728.00 _____ years fr
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Last year Bold and Best accounted for 56.5% of Baldwin's sales. Over the next few years, what should worry Baldwin's management
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The comparison of the actual results of capital investments to the projected results is referred to as?
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Companies apply the time value of money in a variety of ways to make yes or no decisions about investment projects and between competing projects. Two of the most common methods are net present value and internal rate of return (IRR).

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