Assume that on September 1. Office Depot had an inventory that included a variety of calculators....
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Assume that on September 1. Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred. Sext. 6 Purchased calculators from Oriole Co. at a total cost of $1,452, on account. terms rv30. 9 Paid freight of $14 on calculators purchased from Oriole Co. 10 Returned calculators to Oriole Co. for $57 credit because they did not meet specifications. 12 Sold calculators costing $456 for $608 to Pharoah Book Store, on account, terms n/30 14 Granted crocit of $40 to Pharoah Book Store for the return at one calculator that was not ordered. The calculator cast $31. 201 Sold calculators costing $500 for $668 to Sheridan Card Shop, on account, terms r/30. Prepare a tabular summary to record the transactions for the month of September for Office Depot using a perpetual invertory system, Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg (451) Assets Liabilities Stockholders Equity Retained Earnings Date Cash Accounts Receivable Accounts Inventory Payable Common Stock Sex 6 $ $ 9 10 12 14 20 Rev. Exp. $ Div. Assume that on September 1. Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred. Sext. 6 Purchased calculators from Oriole Co. at a total cost of $1,452, on account. terms rv30. 9 Paid freight of $14 on calculators purchased from Oriole Co. 10 Returned calculators to Oriole Co. for $57 credit because they did not meet specifications. 12 Sold calculators costing $456 for $608 to Pharoah Book Store, on account, terms n/30 14 Granted crocit of $40 to Pharoah Book Store for the return at one calculator that was not ordered. The calculator cast $31. 201 Sold calculators costing $500 for $668 to Sheridan Card Shop, on account, terms r/30. Prepare a tabular summary to record the transactions for the month of September for Office Depot using a perpetual invertory system, Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg (451) Assets Liabilities Stockholders Equity Retained Earnings Date Cash Accounts Receivable Accounts Inventory Payable Common Stock Sex 6 $ $ 9 10 12 14 20 Rev. Exp. $ Div.
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