Accounting

Alt alta olarak fotoraflar ykledim yani steki transactiona gre alttaki de yaplacak Bazlarn yaptm doru olup olmadna baklmas gerekiyor

Grade A Steak Company uses a perpetual inventory system. The records of Grade A Steak Company list the following selected accounts for the quarter ended April 30,2016 . Submit qu E:: (Click the icon to view the accounts.) Read the requirements Requirement 2. Prepare a multi-step income statement. Begin by completing the statement through the gross profit, then calculate operating income in the second step and net income in the final ste Requirement 3. J. Douglas, manager of the company, strives to earn a gross profit percentage of at least 50%. Did Grade A achieve this goal? Show your calculations. Compute the gross profit percentage of Grade A. (Round the gross profit percentage to the nearest tenth of a percent, X. %.) Did Grade A achieve this goal? Grade A achieve this goal. More info Feb. 3 Purchased $2,500 of merchandise inventory on account under terms 1/10,n/EOM and FOB shipping point. 7 Returned $700 of defective merchandise purchased on February 3. 9 Paid freight bill of $300 on February 3 purchase. 10 Sold merchandise inventory on account for $4,300. Payment terms were 1/15,n/30. These goods cost the company $2,150. 12 Paid amount owed on credit purchase of February 3 , less the return and the discount. 16 Granted a sales allowance of $200 on the February 10 sale. 23 Received cash from February 10 customer in full settlement of their debt, less the allowance and the discount. i. (Click the icon to view the transactions.) Feb. 3: Purchased $2,500 of merchandise inventory on account under terms 1/10n/FM and En s shipping point. Feb. 7: Returned $700 of defective merchandise purchased on February 3 Feb. 9: Paid freight bill of $300 on February 3 purchase. Feb. 10: Sold merchandise inventory on account for $4,300. Payment terms were 1/15,n/30. These goods cost the company $2,150. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in Now journalize the expense related to the February 10 sale-Cost of goods, $2,150 Feb. 12: Paid amount owed on credit purchase of February 3 , less the return and the discount. explanations from journal entries. Round all numbers to the nearest whole dollar) 1. (Click the icon to view the fransactions) Feb 16. Granted a sales allowance of $200 on the February 10 sale. More info Jun. 20: Purchased inventory of $5,300 on account from Southboro Diamonds, a jewelry importer. Terms were 1/15,n/45, FOB Jun. 20: Paid freight charges, $400. i. (Click the icon to view the transactions.) Jul. 4: Returned $500 of inventory to Southboro. Jul. 14: Paid Southboro Diamonds, less return Jul. 16. Purchased inventory of $4,000 on account from Schmitt Diamonds, a jewelry importer. Terms were 1/10, n/EOM, FOB destination. Hartford Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary transac (1) (Click the icon to view the transactions.) Jul. 16: Purchased inventory of $4,000 on account from Schmitt Diamonds, a jewelry importer. Terms were 1/10, n/EOM, FOB desti Jul. 18: Received a $800 allowance from Schmitt for damaged but usable goods. Jul. 18: Received a $800 allowance from Schmitt for damaged but usable goods. Jul. 24: Paid Schmitt Diamonds, less allowance and discount. Grade A Steak Company uses a perpetual inventory system. The records of Grade A Steak Company list the following selected accounts for the quarter ended April 30,2016 . Submit qu E:: (Click the icon to view the accounts.) Read the requirements Requirement 2. Prepare a multi-step income statement. Begin by completing the statement through the gross profit, then calculate operating income in the second step and net income in the final ste Requirement 3. J. Douglas, manager of the company, strives to earn a gross profit percentage of at least 50%. Did Grade A achieve this goal? Show your calculations. Compute the gross profit percentage of Grade A. (Round the gross profit percentage to the nearest tenth of a percent, X. %.) Did Grade A achieve this goal? Grade A achieve this goal. More info Feb. 3 Purchased $2,500 of merchandise inventory on account under terms 1/10,n/EOM and FOB shipping point. 7 Returned $700 of defective merchandise purchased on February 3. 9 Paid freight bill of $300 on February 3 purchase. 10 Sold merchandise inventory on account for $4,300. Payment terms were 1/15,n/30. These goods cost the company $2,150. 12 Paid amount owed on credit purchase of February 3 , less the return and the discount. 16 Granted a sales allowance of $200 on the February 10 sale. 23 Received cash from February 10 customer in full settlement of their debt, less the allowance and the discount. i. (Click the icon to view the transactions.) Feb. 3: Purchased $2,500 of merchandise inventory on account under terms 1/10n/FM and En s shipping point. Feb. 7: Returned $700 of defective merchandise purchased on February 3 Feb. 9: Paid freight bill of $300 on February 3 purchase. Feb. 10: Sold merchandise inventory on account for $4,300. Payment terms were 1/15,n/30. These goods cost the company $2,150. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in Now journalize the expense related to the February 10 sale-Cost of goods, $2,150 Feb. 12: Paid amount owed on credit purchase of February 3 , less the return and the discount. explanations from journal entries. Round all numbers to the nearest whole dollar) 1. (Click the icon to view the fransactions) Feb 16. Granted a sales allowance of $200 on the February 10 sale. More info Jun. 20: Purchased inventory of $5,300 on account from Southboro Diamonds, a jewelry importer. Terms were 1/15,n/45, FOB Jun. 20: Paid freight charges, $400. i. (Click the icon to view the transactions.) Jul. 4: Returned $500 of inventory to Southboro. Jul. 14: Paid Southboro Diamonds, less return Jul. 16. Purchased inventory of $4,000 on account from Schmitt Diamonds, a jewelry importer. Terms were 1/10, n/EOM, FOB destination. Hartford Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary transac (1) (Click the icon to view the transactions.) Jul. 16: Purchased inventory of $4,000 on account from Schmitt Diamonds, a jewelry importer. Terms were 1/10, n/EOM, FOB desti Jul. 18: Received a $800 allowance from Schmitt for damaged but usable goods. Jul. 18: Received a $800 allowance from Schmitt for damaged but usable goods. Jul. 24: Paid Schmitt Diamonds, less allowance and discount