Hi i need help with 7 accounting questions, listed is the type of questions: 1. Accounting for Purchase Transactions, 2. Gross Profit Percentage, 3. Return on Sales Ratio, 4. Journalize Periodic Inventory, 5. (Journal Entries for Sale, Return, and Remittance?Perpetual System), 6. (Recording Purchases?Perpetual System), 7. (Journal Entries for Sale, Return, and Remittance?Periodic System).

QUESTION 2 Tries remaining: 1 Marked out of 15.00 Flag question Question text Accounting for Purchase Transactions Debra Company began operations on June 1. The following transactions took place in June: a. Purchases of merchandise on account were $600,000. b. The cost of freight to receive the inventory was $20,000. This was paid in cash. c. Debra returned $10,000 of the merchandise due to an ordering error. Debra received a full credit for the return. d. Debra paid the remaining balance for the merchandise. General Journal Ref. Description a. Debit Answer Answer Answer Answer Credit 0 Answer Answer 0 b. c. Answer Answer 0 Answer 0 Answer Answer Answer Answer 0 0 0 0 Answer Answer 0 0 General Journal Ref. Description d. Debit Answer Answer Answer Answer Answer Answer Credit 0 0 Answer Answer 0 0 Answer 0 0 QUESTION 5 Tries remaining: 1 Marked out of 1.00 Flag question Question text Gross Profit Percentage Using the data below, compute Dino's gross profit percentage for the month of January. Net Sales $10,000 Cost of goods sold 4,000 Operating expenses 3,000 Other income 500 Income tax expense 1,200 Round answer to the nearest whole percentage. Answer 0 % QUESTION 6 Tries remaining: 1 Marked out of 1.00 Flag question Question text Return on Sales Ratio Using the data below, compute Dino's return on sales ratio for the month of January. Net Sales $10,000 Cost of goods sold 4,000 Operating expenses 3,000 Other income Income tax expense 500 1,200 Round answer to the nearest whole percentage. Answer % Check 0 QUESTION 7 Tries remaining: 1 Marked out of 20.00 Flag question Question text Journalize Periodic Inventory Prepare the journal entries to record the following transactions for the Walbright Company using a periodic inventory system. a. On June 2, Walbright purchased $350,000 of merchandise from the Ferway Company with terms, 3/15, n/30. b. On June 5, Walbright returned $50,000 of the merchandise purchased on June 2. c. On June 13, Walbright paid the balance due to Ferway. General Journal Ref . a. Description Debit Answer Answer Purchases Answer Answer Answer 0 0 Answer Accounts payable b. Credit Answer 0 Answer 0 Answer 0 Answer 0 Answer Answer 0 c. Answer Answer 0 Answer 0 0 Answer Answer Answer 0 Cash Answer 0 Answer 0 0 QUESTION 8 Tries remaining: 1 Marked out of 20.00 Flag question Question text Journal Entries for Sale, Return, and RemittancePerpetual System On September 13, Brady Company sold merchandise with an invoice price of $1,100 ($600 cost), with terms of 2/10, n/30, to Dalton Company. On September 17, $250 of the merchandise ($100 cost) was returned because it was the wrong model. On September 23, Brady Company received a check for the amount due from Dalton Company. Required Prepare the journal entries made by Brady Company for these transactions. Brady uses the perpetual inventory system. Round your answers to the nearest dollar. General Journal Date Sept. 13 Description Answer Debit Credit Answer Answer 0 0 Answer Answer Answer 0 0 Sold merchandise to Dalton Company terms 2/10, n/30. 13 Answer Answer Answer 0 Answer Answer 0 Answer 0 0 General Journal Date Description Debit Credit Cost of merchandise sold to Dalton Company. 17 Answer Answer Answer 0 Answer Answer 0 Answer 0 0 Merchandise returned by Dalton Company. 17 Answer Answer Answer 0 Answer Answer 0 Answer 0 0 Cost of merchandise returned by Dalton Company. 23 Cash Answer Answer Answer 0 Answer 0 Answer 0 Answer Answer Answer 0 Remittance received from Dalton Company. QUESTION 9 Tries remaining: 1 Marked out of 20.00 Flag question Question text Recording PurchasesPerpetual System 0 0 On July 1, Alvarez, Inc. purchased merchandise for $2,500, with terms of 2/10, n/30. On July 5, the firm returned $800 of the merchandise to the seller. Payment of the account occurred on July 8. Alvarez uses the perpetual inventory system. Required a. Prepare the journal entries for July 1, July 5, and July 8. General Journal Date Debit Description Answer Answer July 1 Credit Answer 0 0 Answer Answer Answer 0 0 To record purchase of merchandise, terms 2/10, n/30. Answer 5 Answer Answer 0 Answer Answer 0 Answer 0 0 To record returned merchandise. Answer Answer 8 Answer 0 0 Answer Answer Answer 0 Answer Cash 0 Answer 0 0 To record the paid amount due within the discount period for the July 1 purchase. b. Assuming that the account was paid on July 14, prepare the journal entry for payment on that date. General Journal Date July 14 Description Answer Debit Answer 0 Credit Answer 0 General Journal Date Description Answer Debit Credit Answer Answer 0 0 To record the paid amount due on the July 1 purchase. Check QUESTION 10 Tries remaining: 1 Marked out of 20.00 Flag question Question text Journal Entries for Sale, Return, and RemittancePeriodic System On June 8, Stevens Company sold merchandise listing for $1,850 to Dalton Company, terms 2/10, n/30. On June 12, $550 worth of the merchandise was returned because it was the wrong color. On June 18, Stevens Company received a check for the amount due. Required Record the journal entries made by Stevens Company for these transactions. Stevens uses the periodic inventory system. General Journal Date June Description 8 Answer Debit Credit Answer Answer 0 0 Answer Answer Answer 0 0 Sold merchandise to Dalton Company terms 2/10, n/30. 1 2 Answer Answer Answer 0 Answer Answer 0 Answer 0 0 Merchandise returned by Dalton Company. 1 8 Cash Answer Answer Answer 0 0 Answer Answer 0 Answer Answer Answer 0 Remittance received from Dalton Company. Check Previous page 0 0