Business, 18.11.2019 21:31 antoniomunoz424

Webster company was established on july 1. its sales terms are 2/10, n/30. credit terms for its purchases vary with the supplier. selected transactions for the first month of operations are given below. unless noted, all transactions are on account and involve merchandise held for resale. webster company uses the perpetual inventory system.

july

1 purchased goods from dawson inc $2,500; terms 1/10, n/30
2 purchased goods from penn co, $4,500; terms 2/10, n/30
3 paid freight on shipment from dawson, $300
5 sold merchandise to ward, inc. $1,400 ($1,100 cost)
5 paid freight on shipment to ward, inc $90 (delivery expense)
8 returned $500 worth of the goods purchased july 1 from dawson, inc. because some goods were damaged. dawson approved the return.
9 received returned goods from ward, inc. worth $200 ($150 cost)
10 paid dawson inc the amount due
10 purchased goods from dorn company with a list price of $2,600. terms 2/10, n/30
11 paid freight on shipent from dorn co., $150
15 sold merchandise to colby corporation, $3,200 ($2,400 cost)
16 mailed a check to penn company for the amount due on its july 2 invoice
18 received an allowance of $200 from dorn company for defective merchandise purchased on july 10
19 paid dorn company the amount due
25 received the amount due from colby corp.

prepare the necessary journal enteries for the webster company

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 01:30

Consider the following limit order book for a share of stock. the last trade in the stock occurred at a price of $50. limit buy orders limit sell orders price shares price shares $49.75 500 $49.80 100 49.70 900 49.85 100 49.65 700 49.90 300 49.60 400 49.95 100 48.65 600 a. if a market buy order for 100 shares comes in, at what price will it be filled? (round your answer to 2 decimal places.) b. at what price would the next market buy order be filled? (round your answer to 2 decimal places.) c. if you were a security dealer, would you want to increase or decrease your inventory of this stock? increase decrease

Answers: 2

Answer

Business, 22.06.2019 08:00

Compare the sources of consumer credit(there's not just one answer)1. consumers use a prearranged loan using special checks2. consumers use cards with no interest and non -revolving balances3. consumers pay off debt and credit is automatically renewed4. consumers take out a loan with a repayment date and have a specific purposea. travel and entertainment creditb. revolving check creditc. closed-end creditd. revolving credit

Answers: 2

Answer

Business, 22.06.2019 11:00

If the guide wprds on the page are "crochet " and "crossbones", which words would not be on the page. criticize, crocodile,croquet,crouch,crocus.

Answers: 1

Answer

Business, 22.06.2019 12:40

When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?

Answers: 3

Answer

You know the right answer?

Webster company was established on july 1. its sales terms are 2/10, n/30. credit terms for its purc...

Questions