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svlad2 [7]
3 years ago
7

A merchandiser is a business that sells merchandise, or goods, to customers. There are two main types of inventory accounting sy

stems that are used by merchandisers, periodic and perpetual. Each person choose one transaction and show how it is recorded in a perpetual inventory system.
1. Purchase of $23,800 in merchandise inventory on account with terms 2/15, n/30, FOB shipping point
2. The company pays freight of $50
3. The company returns $5,200 of the merchandise due to damage during shipment.
4. The company paid the amount due less the return and discount (within the discount period).
Business
1 answer:
bagirrra123 [75]3 years ago
8 0

Answer:

a. Feb. 2

Dr Merchandise Inventory $23,800

Cr Accounts Payable $23,800

4 Dr Merchandise Inventory $50

Cr Cash $50

9 Dr Accounts Payable $5,200

Cr Merchandise Inventory $5,200

14 Dr Accounts Payable $18,600

Cr Cash $18,228

Cr Merchandise Inventory $372

2. Inventory cost $18,278

Explanation:

a. Preparation of the journal entries

Feb. 2

Dr Merchandise Inventory $23,800

Cr Accounts Payable $23,800

4 Dr Merchandise Inventory $50

Cr Cash $50

9 Dr Accounts Payable $5,200

Cr Merchandise Inventory $5,200

14 Dr Accounts Payable $18,600

($23,800 − $5,200)

Cr Cash $18,228

($18,600 – $372)

Cr Merchandise Inventory $372

($18,600 × 0.02)

2. Calculation to determine how much did the inventory cost Burlington Drug Store

Inventory cost =($23,800 + $50 – $5,200 – $372)

Inventory cost =$18,278

Therefore how much did the inventory cost Burlington Drug Store is $18,278

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3 years ago
Three years ago, Vincent Chow completed his degree in accounting. The economy was in a depressed state at the time, and Vincent
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Answer:

Prerequisite 1  

There are three nonexclusive serious techniques:  

Cost Leadership - target showcase exceptionally broad, point is to have the most minimal cost. Items not specific, attempt to speak to shoppers because of their low costs.  

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Center Strategy - either a cost authority or a separation methodology, yet focused for a tight, engaged market.  

Vincent's business utilizes a Focus Strategy. The Cappuccino Express was made with the conviction that because of individuals' evolving schedules, comfort would be vital – giving speedy and advantageous espresso to occupied individuals.  

Prerequisite 2  

Basic Success Factors are the vital money related and non-monetary proportions of achievement. To be increasingly explicit Critical Success Factors are features of the association's exhibition that are essential to its upper hand.  

The Cappuccino Express Critical Success Factors :  

Quality and cost of existing items  

Areas specific..near Malls , schools , workplaces and so forth.  

Devise new items at customary interims  

Client Turnover – capacity to keep lines short, vehicles traveling through line  

Keeping Loyal clients with quality items along these lines diminishing ad costs  

Giving incredible client support  

Improving Profitability  

The greater part of these Vincent will have the option to show some power about whether it is adjusting costs, items, guiding various areas or making preparing programs. Then again, if Vincent's essential supposition never again remains constant, regardless of what he does he will most likely be unable to equal the initial investment, not to mention turn a benefit.  

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Answer:

c) finish-to-start; start-to-start

Explanation:

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3 0
3 years ago
Read 2 more answers
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This can be seen in the question when the sales associate advertised the video game system for a reduced price which wasn't available when customers wanted to buy but were offered a game that was costlier.

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2 years ago
The cost of goods for Mandy Manufacturing Company flow through an assembly and a finishing department before being transferred t
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Answer:

Option (D) is correct.

Explanation:

Given that,

Beginning work in process = $4,000

Ending work in process in finishing department = $6,000

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Direct labor  = $46,000

Overhead  = $22,000

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Cost of goods transferred to the Finished Goods Inventory account:

= Cost incurred in finishing - Ending work in process

= $134,000 - $6,000

= $128,000

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