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sesenic [268]
3 years ago
11

Supplied goods costing

Business
1 answer:
aivan3 [116]3 years ago
7 0

Answer:

Dr Mohan account 627

Cr Sales 627

Explanation:

Preparation of Journal entry

If the amount of RS. 600 is the goods costing that was supplied to mohan in which the issued invoice is 10% above cost with a 5% discounts the First step will be to calculate the Invoice price.

Calculation of the invoice price

Invoice price=[600+10%*600)+[5%*(600+10%*600)]

Invoice price=(600+60)-[5%*(600+60)]

Invoice price=660-(5%*660)

Invoice price=660-33

Invoice price=627

Now let prepare the Journal entry

Dr Mohan account 627

Cr Sales 627

(Being to record good sold to Mohan)

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At the beginning of the​ month, supplies were $ 6 comma 000. During the​ month, $ 7 comma 000 of supplies were purchased. At​ mo
Lena [83]

Answer:

Adjusting Entry

Cost of goods sold (Dr.) $11,000

Beginning Inventory (Cr.) $6,000

Purchases (Cr.)   $5,000

Closing Entry

Ending Inventory (Dr.)  $2,000

Income Summary (Cr.)         $2,000

Explanation:

The adjusting entry is made by debiting cost of goods sold account which reflects the amount of inventory sold during the month and the entry is credited by beginning inventory of $6,000 and the remaining amount which is $5,000 is credited in purchases account.

The closing entry is made by debiting the ending inventory by the amount of $2,000 and Income Summary account is credited by the same amount to close the inventory account.

6 0
2 years ago
PLEASE ANSWER FAST
baherus [9]
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8 0
2 years ago
In the papyrus corporation, cash receipts from customers were $136,000, cash payments for operating expenses were $102,000, and
sleet_krkn [62]
Cash receipts from customers = $136,000
cash payment for operating expenses = $102,000
tax paid  = 1 / 3
Amount on which tax paid = $9,300
amount of tax paid = $9,300 / 3 = $3,100
net cash provides by operating activities = ?
Net cash = cash from customers - cash payment for operating expense -  amount of tax paid
= $136,000 - $102,000 - $3,100
= $30,900
so the net cash provided by operating activities is $30,900
4 0
2 years ago
Demand curves slope___ because as prices increase and other things remain
GenaCL600 [577]
I think the answer is Downwards;increases
8 0
3 years ago
Paw Salon currently services an average of 74 pets per day. Observations in recent weeks show that its utilization is about 90 p
Liula [17]

Answer:

50 customers per day

Explanation:

For computing the capacity required customers per day, first, we have to  compute the current demand per day which is shown below:

Current demand = Average number of  pets per day × estimated percentage

= 74 pets × 60%

=  44.4 per day

Now the capacity required per day would be

= (Current demand per day) ÷ (1 -  capacity cushion percentage)

= 44.2 ÷ (1 - 0.12)

= 50.22 per day

3 0
3 years ago
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