Business, 24.12.2021 04:50 tacie57

Oriole Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,165 (including freight) from Catlin Publishers, terms 2/10, n/30.
3 Sold books on account to Garfunkel Bookstore for $1,200. The cost of the merchandise sold was $750.
6 Received $65 credit for books returned to Catlin Publishers.
9 Paid Catlin Publishers in full.
15 Received payment in full from Garfunkel Bookstore.
17 Sold books on account to Bell Tower for $2,000. The cost of the merchandise sold was $900.
20 Purchased books on account for $900 from Priceless Book Publishers, terms 2/15, n/30.
24 Received payment in full from Bell Tower. 26 Paid Priceless Book Publishers in full.
28 Sold books on account to General Bookstore for $1,300. The cost of the merchandise sold was $910.
30 Granted General Bookstore $270 credit for books returned costing $85.

Required:
Journalize the transactions for the month of June for Oriole Warehouse, using a perpetual inventory system.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 15:30

Uknow what i love about i ask a dumb question it is immediately answered but when i ask a real question it take like an hour to get answered

Answers: 2

Answer

Business, 22.06.2019 16:50

Coop inc. owns 40% of chicken inc., both coop and chicken are corporations. chicken pays coop a dividend of $10,000 in the current year. chicken also reports financial accounting earnings of $20,000 for that year. assume coop follows the general rule of accounting for investment in chicken. what is the amount and nature of the book-tax difference to coop associated with the dividend distribution (ignoring the dividends received deduction)?

Answers: 2

Answer

Business, 22.06.2019 19:00

Adrawback of short-term contracting as an alternative to making a component in-house is thata. it is the most-integrated alternative to performing an activity so the principal company has no control over the agent. b. the supplying firm has no incentive to make any transaction-specific investments to increase performance or quality. c. it fails to allow a long planning period that individual market transactions provide. d. the buying firm cannot demand lower prices due to the lack of a competitive bidding process.

Answers: 2

Answer

Business, 22.06.2019 19:50

The new york company produces high quality chairs. variable manufacturing overhead is applied at a standard rate of $12 per machine hour. each chair requires a standard quantity of six machine hours. production for the month totaled 4,000 units. calculate: the standard cost per unit for variable overhead. select one: a. $130,000 b. $192,000 c. $90,000 d. $100,000

Answers: 2

Answer

You know the right answer?

Oriole Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30...

Questions