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.
Answers: 1
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:
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Business, 22.06.2019 19:00
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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
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On June 5, Staley Electronics purchases 260 units of inventory on account for $26 each. After closer...
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