Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 14, 2021

How do I post a journal entry for returned merchandise

Step by Step Solution

★★★★★

3.31 Rating (157 Votes )

There are 3 Steps involved in it

Step: 1

When the returned to the supplier of the goods then the cash account or accounts pa... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav

13th Edition

8120335643, 136126634, 978-0136126638

More Books

Students also viewed these Accounting questions

Question

★★★★★

You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the companys costing system and do what you...

Answered: 1 week ago

Question

★★★★★

Prepare a journal entry for the purchase of office supplies on October 14 for $9,000, paying $1,800 cash and the remainder on account.

Answered: 1 week ago

Question

★★★★★

Prepare a journal entry for the purchase of office equipment on February 3 for $18,250, paying $3,650 cash and the remainder on account.

Answered: 1 week ago

Question

★★★★★

Discuss any of the established brands of the business concerned with woolworths in Australia

Answered: 1 week ago

Question

★★★★★

a. Given that this is the second delay for Johnson & Johnson in these drug trials, what does this say about its management controls? b. Of the four areas of alleged deficiency, which one represents...

Answered: 1 week ago

Question

★★★★★

The _____________ principle tries to evaluate every transaction in terms of its impact on the owners equity.

Answered: 1 week ago

Question

★★★★★

2 What would be some of the risk of absence of reflection in coach train-ing programs?

Answered: 1 week ago

Question

★★★★★

Hart Corporation issued bonds twice during 2014. A summary of the transactions involving the bonds follows. 2014 Jan. 1 Issued $6,000,000 of 9.9 percent, 10-year bonds dated January 1, 2014, with...

Answered: 1 week ago

Question

★★★★★

4-1 Recurrence examples (Pick at least two recurrences) Give asymptotic upper and lower bounds for T (n) in each of the following recur- rences. Assume that T(n) is constant for n 2. Make your bounds...

Answered: 1 week ago

Question

★★★★★

You are the IT director at Big Ten University. As part of a training program, you decide to draw a DM that includes some obvious mistakes to see whether your newly hired junior analysts can find...

Answered: 1 week ago

Question

★★★★★

The total sales revenue of Alsafi Company are SR 65,000, the total variable costs are SR 30,000, and the total fixed costs are SR 10,500. Calculate the degree of operating leverage.

Answered: 1 week ago

Question

★★★★★

manufacturing has its challenges, especially when the product is high production quantities at low margins. This has made quality inspection more common place in manufacturing processes. Which points...

Answered: 1 week ago

Question

★★★★★

Refer to Step 3.3. In the "Constrained" or "Long Only" version of the optimal risky portfolio, what is the portfolio standard deviation? answer as a percentage, with no percentage symbol ("%"),...

Answered: 1 week ago

Question

★★★★★

As a security operative for a Fortune 1000 company, how would I protect my organization's assets?

Answered: 1 week ago

Question

★★★★★

Olney LLC only purchased one asset this year. Olney LLC placed in service on July 19, 2023, machinery and equipment (seven-year property) with a basis of $1,330,000. Assume that Olney has sufficient...

Answered: 1 week ago

Question

★★★★★

A marketing company needs to decide how much time to allocate between radio and television advertising during the next month. The manager has determined that at least 80% of the time should be...

Answered: 1 week ago

Question

★★★★★

Ashley Panda lives at 1310 Meadow Lane, Wayne, OH43466, and her social security number is 123-45 6777. Ashley is single and has a 20-year-old son, Bill. His Social Security number is 111-11-1112....

Answered: 1 week ago

Question

★★★★★

9.Consider the reaction 3NO2(g)+H2O=2HNO3(aq)+NO(g) where Delta H=-137 kJ.How many kilojoules are released when 92.3g of NO2 reacts?

Answered: 1 week ago

Question

★★★★★

Zero beginning inventory, materials introduced in middle of process. Roary Chemicals has a Mixing Department and a Refining Department. Its process-costing system in the Mixing Department has two...

Answered: 1 week ago

Question

★★★★★

Why do better decision regarding the purchasing and managing of goods for sale frequently cause dramatic percentage increases in net income?

Answered: 1 week ago

Question

★★★★★

Customer profitability, distribution. Spring Distribution has decided to analyze the profitability of five new customers. It buys bottled water at $12 per case and sells to retail customers at a list...

Answered: 1 week ago

Question

★★★★★

The Vehicle Inventory and Use Survey (VIUS) has been conducted by the U.S. government to provide information on the number of private and commercial trucks in each state. The stratified random...

Answered: 1 week ago

Question

★★★★★

In Exercise 6 of Chapter 2, data on numbers of publications were given for an SRS of 50 faculty members. Not all departments were represented, however, in the SRS. The SRS contained several faculty...

Answered: 1 week ago

Question

★★★★★

The data in the file radon.dat were collected from 1003 homes in Minnesota in 1987 (Tate, 1988) in order to estimate the prevalence and distribution of households with high indoor radon...

Answered: 1 week ago

Previous Question Next Question