On October 5, Wang Company sells merchandise to Davis Company for $4,800, terms 1/10, n/30. The cost
Question:
On October 5, Wang Company sells merchandise to Davis Company for $4,800, terms 1/10, n/30. The cost of the merchandise sold is $3,100. Wang paid the freight charges of $200. Record the transactions on the books of Wang Company. Omit explanations.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
Oct 5 Accounts Receivable 4800 Sales Re...View the full answer
Answered By
Akshay Agarwal
I am a Post-Graduate with a specialization in Finance. I have been working in the Consulting industry for the past 8 years with a focus on the Corporate and Investment Banking domain. Additionally, I have been involved in supporting student across the globe in their academic assignments and always strive to provide high quality support in a timely manner. My notable achievements in the academic field includes serving more than 10,000 clients across geographies on various courses including Accountancy, Finance, Management among other subjects. I always strive to serve my clients in the best possible way ensuring high quality and well explained solutions, which ensures high grades for the students along-with ensuring complete understanding of the subject matter for them. Further, I also believe in making myself available to the students for any follow-ups and ensures complete support and cooperation throughout the project cycle. My passion in the academic field coupled with my educational qualification and industry experience has proved to be instrumental in my success and has helped me stand out of the rest. Looking forward to have a fruitful experience and a cordial working relationship.
5.00+
179+ Reviews
294+ Question Solved
Related Book For
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
Question Posted:
Students also viewed these Business questions
-
Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at...
-
fob destination with payment terms in Flash 30 the cost of good full was 5580 on November at their the customer returns on this sale amounted in 72 Andrey the company received the balance on November...
-
The cost of all merchandise sold was 60% of the sales price. During January, Ayoade completed the following transactions. Jan. 3 Purchased merchandise on account from Parkinson Co. $11,000. 4...
-
The stator of a 220-V, 60-Hz induction motor has 12-turn coils. You wish to re-wound it for working at 380-V, 50-Hz. While maintaining the flux same as of original motor, calculate the number of...
-
Let A, B, and C be matrices that differ only in their ith row, with the ith row of C being a linear combination of the rows of A and B. That is, Then det(C) = α det(A) + β...
-
The following data represent the exchange rates for the euro in terms of U.S. dollars from March 2011 until February 2013. These data can also be found in the Excel file titled Euro.xlsx. 1.40 1.44...
-
What about the physical location and arrangements?
-
You assemble the following information for Seneca Department Store, which computes its inventory under the dollar-value LIFO method. Instructions Compute the cost of the inventory on December 31,...
-
Pharoah Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers. For the year 2022, management estimates the following revenues...
-
The hydroelectric plant has a catchment area of 120 square km. The available runoff is 50% with an annual rainfall of 100 cm. Ahead of 250 m is available on an average. The efficiency of the power...
-
On May 3, Dinh Company sold $500,000 of merchandise to Thao Company, terms 2/10, n/30. The cost of the merchandise sold was $325,000. Prepare the journal entry to record this transaction on Dinh...
-
Nixa Office Supply uses a perpetual inventory system. On September 12, Nixa Office Supply sold 26 calculators costing $23 for $31 each to Sura Book Store, terms n/30. Instructions Journalize the...
-
Barack Obama claims that in the absence of sound oversight, responsible businesses are forced to compete against unscrupulous and underhanded businesses, who are unencumbered by any restrictions on...
-
The free-rolling ramp has a mass of 40 kg. A 10-kg crate is released from rest at A and slides down 3.5 m to point B. (Figure 1) If the surface of the ramp is smooth, determine the ramp's speed when...
-
In computer forensics, you are often confronted with a different organisation of multi-byte values. Two common ways to order the bytes are big-endian (e.g. SUN Sparc, Apple) and little-endian (e.g....
-
1-Define electric fields and how it helps us understand electricity. 2-Electric fields are represented as a physical effect of a configuration of charges that is created by the attraction of electric...
-
Product A will be cleaned out. The product has a standard daily dose of 10mg and the batch size is 200kg. The next product B has standard a daily does of 250mg and the batch size is 50kg. Both A and...
-
Given a physical memory size of 290k, simulate using multiple partition allocation (MVT). Assume that the OS occupies the first 40k. Answer the ff. questions below: OS 40k-1 Process ID Arrival Time...
-
Jessica is a U.S. Army Reservist and in 2019 traveled 130 miles each way to serve duty at a local military installation. She was required to report four times in 2019. Her normal route from home to...
-
Derive Eq. (18.33) from Eq. (18.32).
-
BONDS ISSUED AT A DISCOUNT Emerald, Inc., issued the following bonds at a discount: Date of issue and sale: ......April 1, 20-1 Principal amount: ........$500,000 Sale price of bonds: .......97...
-
BONDS ISSUED AT A PREMIUM, REDEEMED AT A LOSS Perez Company issued the following bonds at a premium: Date of issue and sale: .......March 1, 20-1 Principal amount: .........$400,000 Sale price of...
-
BONDS ISSUED AT A DISCOUNT, REDEEMED AT A GAIN Cline & Co. issued the following bonds at a discount: Date of issue and sale: .....April 1, 20-1 Principal amount: .......$500,000 Sale price of bonds:...
-
Burger King recently launched Real Meals in select markets to deliver an important message about mental health. Real Meals come in five varieties, including a Pissed Meal (for when youre mad) and a...
-
If banks suffer loan losses in excess of their loan-loss-reserves, their Capital Adequacy is unaffected. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an...
-
The xyz company is considering replacing a current drill press with a new computer-operated model. The protected net operating cash flows for both presses for the next 4 years from today are listed...
Study smarter with the SolutionInn App