subject
Business, 12.08.2020 07:01 minideeri

On June 5, Staley Electronics purchases 260 units of inventory on account for $26 each. After closer examination, Staley determines 30 units are defective and returns them to its supplier for full credit on June 9. All remaining inventory is sold on account on June 16 for $47 each. Required:
Record transactions for the purchase, return, and sale of inventory assuming the company uses a perpetual inventory system.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 01:30
The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are:
Answers: 3
question
Business, 22.06.2019 11:10
Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?
Answers: 3
question
Business, 22.06.2019 19:00
1. regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool.
Answers: 2
question
Business, 22.06.2019 20:00
Ryngard corp's sales last year were $38,000, and its total assets were $16,000. what was its total assets turnover ratio (tato)? a. 2.04b. 2.14c. 2.26d. 2.38e. 2.49
Answers: 1
You know the right answer?
On June 5, Staley Electronics purchases 260 units of inventory on account for $26 each. After closer...
Questions
question
Mathematics, 01.10.2019 21:30
question
Mathematics, 01.10.2019 21:30
question
English, 01.10.2019 21:30