Journalize the following sales transactions for King Company. Explanations are not required King Company sold merchandise inventory
Question:
Journalize the following sales transactions for King Company. Explanations are not
required
Transcribed Image Text:
King Company sold merchandise inventory for $150. The cost of the inventory was $90. The customer paid cash. King Company was running a promotion and the customer received a $20 award at the time of sale that can be used at a future date on any King Company merchandise. May 15 The customer uses the $20 award when purchasing merchandise inventory for $30. The cost of the inventory was $18. The customer paid cash. Apr. 1
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (3 reviews)
Date Apr 1 Cash Accounts and Explanation Sales Reven...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9781292412320
7th Global Edition
Authors: Tracie Miller-Nobles, Brenda Mattison, Ella Mae Matsumura
Question Posted:
Students also viewed these Business questions
-
Journalize the following sales transactions for King Company. Explanations are not required. Apr. 1 King Company sold merchandise inventory for $150. The cost of the inventory was $90. The customer...
-
Journalize the following sales transactions for Straight Shot Archery using the periodic inventory system. Explanations are not required. The company estimates sales returns and allowances at the end...
-
SleepE Ltd is a manufacturer of high quality pillows. The company distributes its products to various wholesalers and retailers across South Africa. The following information relates to the company...
-
In Exercises 8486, use a graphing utility to graph f and g in the same [-8, 8, 1] by [-5, 5, 1] viewing rectangle. In addition, graph the line y = x and visually determine if f and g are inverses....
-
Happy Cow Dairy Inc. produces milk at a total cost of $75,000. The production generates 55,000 gallons of organic milk which can be sold for $2 per gallon to a pasteurization company, or the milk can...
-
Your companys founder believes that younger workers are more energetic and serve better in sales positions. Before posting a new job ad for your sales division, he recommends that you list an age...
-
What are the four categories for project failure? Give an example of each. AppendixLO1
-
In 2010, Nuts & Seeds Inc., purchased a new high-tech shelling machine from Soft-Core Corporation. Nuts and Seeds paid $1,000 in cash and gave Soft-Core a $29,000 note. The note is non-recourse and...
-
Atlantic Surf manufactures surfboards. The company's sales budget for the next three months is shown below. In addition, company policy is to maintain finished goods inventory equal (in units) to 30%...
-
D & T Printing Supplies accounting records include the following accounts at December 31, 2024 Requirements 1. Journalize the required closing entries for D & T Printing Supplies assuming that D & T...
-
Rocky RV Centers accounting records include the following accounts at December 31, 2024. Requirements 1. Journalize the required closing entries for Rocky. 2. Determine the ending balance in the...
-
Write an essay on the Preferential Procument Policy Framework Act 5 of 2000.
-
Consider a system consisting of a colloidal particle of radius and charge Q-+20e (e is the charge of an electron) stationary in the center of a spherical cavity of radius R=5. Its counterions have...
-
Use the Empirical Rule to determine the percentage of candies with weights between 0.7 and 0.98 gram. Hint: x=0.84.
-
A sample of 16 items provides a sample standard deviation of 9.5. Test the following hypotheses using a = .05. Ho: 0250 2 Ha > 50 a. Calculate the value of the test statistic (to 2 decimals). 27.08...
-
During May, Darling Company incurred factory overhead costs as follows: indirect materials, $1,170; indirect labor, $2,000; utilities cost, $1,270; and factory depreciation, $5,850. Journalize the...
-
Practice 1 Let f(0) = cos(0). For each interval in the table below, determine the characteristics of f(e) Positive or negative Increasing or decreasing Concave up or concave down Let g(0) = 00
-
What is meant by sniping in an auction? Does it make sense to snipe to win an auction?
-
List four items of financial information you consider to be important to a manager of a business that has been operating for a year.
-
What is a special journal?
-
On January 1, Irving Company purchased equipment of $280,000 with a long-term note payable. The debt is payable in annual installments of $56,000 due on December 31 of each year. At the date of...
-
Smythe Banners reported the following figures in its financial statements: Cash..............................................$ 26,500 Cash Equivalents...................................5,000 Total...
-
Given that rJ = 6.3%, rRF = 4.1%, and rM = 9.4%, determine the beta coefficient for Stock J that is consistent with equilibrium.
-
Simon Companys year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 33,019 $ 37,839 $ 38,623 Accounts receivable, net 93,822 65,556 54,152 Merchandise inventory 117,963 89,253...
-
PLEASE REFER TO THE 2018 ANNUAL REPORT OF STARBUKS FOR THE YEAR FISCAL YR 2018, ENDING SEPTEMBER 30, 2018. Refer to the management discussion & analysis section and write a one page summary...
Study smarter with the SolutionInn App