The following transactions occurred during the month of june 2013 for the stridewell corporation. the company owns and operates a retail shoe store.
a. issued 100,000 shares of common stock in exchange for $500,000 cash.
b.
purchased furniture and fixtures at a cost of $100,000. $40,000 was paid in cash and a note payable was signed for the balance owed.
c.
purchased inventory on account at a cost of $200,000. the company uses the perpetual inventory system.
d. credit sales for the month totaled $280,000. the cost of the goods sold was $140,000.
e. paid $6,000 in rent on the store building for the month of june.
f.
paid $3,000 to an insurance company for fire and liability insurance for a one-year period beginning june 1, 2013.
g. paid $120,000 on account for the merchandise purchased in transaction c.
h. collected $55,000 from customers on account.
i. paid shareholders a cash dividend of $5,000.
j. recorded depreciation expense of $2,000 for the month on the furniture and fixtures.
k. recorded the amount of prepaid insurance that expired for the month.
required:
prepare journal entries to record each of the transactions and events listed above. (if no entry is required for a particular transaction, select "no journal entry required" in the first account field.)

< back to assignment attempts: 1 1 keep the highest: 1 / 2 2. determining opportunity cost juanita is deciding whether to buy a suit that she wants, as well as where to buy it. three stores carry the same suit, but it is more convenient for juanita to get to some stores than others. for example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the suit: store travel time each way price of a suit (minutes) (dollars per suit) local department store 15 102 across town 30 88 neighboring city 60 65 juanita makes $42 an hour at work. she has to take time off work to purchase her suit, so each hour away from work costs her $42 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location. store opportunity cost of time price of a suit total cost (dollars) (dollars per suit) (dollars) local department store 102 across town 88 neighboring city 65 assume that juanita takes opportunity costs and the price of the suit into consideration when she shops. juanita will minimize the cost of the suit if she buys it from the . grade it now save & continue continue without saving