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3 years ago

Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred.

Business

1 answer:

satela [25.4K]3 years ago

3 0

The May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system are:

Charlie Company Journal entries

May 13

Debit Account receivable $360

(8×$45)

Credit Sales $360

(To record credit sales)

May 13

Debit Cost of goods sold $208

(8×$26)

Credit Merchandise inventory $208

(To record cost of goods sold)

May 16

Debit Sales return and allowances $45

Credit Account receivable $45

(To record goods returned)

May 16

Debit Merchandise inventory $26

Credit Cost of goods sold $26

(To record cost of goods sold returned)

May 23

Debit Cash $302

($315-$13)

Debit Sales discount $13

(4%×$315)

Credit Account receivable $315

($360-$45)

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Answer:

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Explanation:

We have to solve for the contribution margin considering the constraing resourse which, is the ordering cost:

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The card models revenue is calcualted using the net realizable value for each card, which is their sales price less the 5% sales commission.

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This creates 2.5 hours unsured

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we subtract the 500 dollar of sales man and get a 21,800 profit

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4 years ago

Porter Co. owned all of the voting common stock of Simi Corp. The corporations' balance sheets dated December 31, 2018, include

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Answer: $672,000

Explanation:

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The Consolidated balance for land in 2020 will therefore be calculated as,

= (Porter land value - Sales price) + (Simi land value + Sales price)

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4 years ago

Jana is an action researcher who wants to better understand what predicts student success on the statewide standardized biology

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Answer: I found the complete statement on google:

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3 years ago

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Answer:

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Explanation:

This will appear as follows in the account:

Hotwax's Journal Entries

Details Dr ($) Cr ($)

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Being total factory payroll or labor cost paid in cash

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4 years ago

he price of a non-dividend paying stock is $55 per share. A 6-month, at the money call option is trading for $1.89. If the annua

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Answer:

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