Name: Part III: Journal Entries for Merchandising Business 20 Points Date: The following selected transactions were...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664cd471e7749_153664cd47183631.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664cd4728e316_154664cd472274dc.jpg)
Transcribed Image Text:
Name: Part III: Journal Entries for Merchandising Business 20 Points Date: The following selected transactions were completed during June between Scottsdale Inc. and Barton Company. Use any reasonable account names for journal entries. Apr. 2 12 Scottsdale sold merchandise on account to Barton Company for $33,450, terms FOB destination point, 2/10, n/30. The cost of merchandise was $20,000. Paid freight cost of $150. Scottsdale Company received check for amount due from Barton Company's purchase on Apr 2. Instructions a. Prepare journal entries (using the 'net method,' as in all class examples) for: (1) Scottsdale Company and (2) Barton Company DATE 61 Page Scottsdale Company General Journal PAGE 21 POST ACCOUNT TITLE REF. DEBIT CREDIT Name DATE 7 Page Barton Company General Journal PAGE 21 POST ACCOUNT TITLE REF DENT CREDIT Name: Part III: Journal Entries for Merchandising Business 20 Points Date: The following selected transactions were completed during June between Scottsdale Inc. and Barton Company. Use any reasonable account names for journal entries. Apr. 2 12 Scottsdale sold merchandise on account to Barton Company for $33,450, terms FOB destination point, 2/10, n/30. The cost of merchandise was $20,000. Paid freight cost of $150. Scottsdale Company received check for amount due from Barton Company's purchase on Apr 2. Instructions a. Prepare journal entries (using the 'net method,' as in all class examples) for: (1) Scottsdale Company and (2) Barton Company DATE 61 Page Scottsdale Company General Journal PAGE 21 POST ACCOUNT TITLE REF. DEBIT CREDIT Name DATE 7 Page Barton Company General Journal PAGE 21 POST ACCOUNT TITLE REF DENT CREDIT
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
XY is a pharmaceutical company with the head-quarter in the United States. However, its cash flow depends only on sales in Japan. It receives a cash flow of Yen 20 billion with certainty in t=1. The...
-
R134a at 50 psia and 40F is throttled to a pressure of a) 20 psia, b) 15 psia, c) 10 psia. Determine the exit temperature and quality of the R-134a.
-
In your opinion what are the six most important sections of the annual report. Why have you chosen these sections?
-
If possible, subtract the following irrational numbers without using a calculator. If this is not possible, state why. \(3 \sqrt{7}-8 \sqrt{7}\)
-
You are traveling on a first-class flight from New Delhi to London. When you wake, you find the corpse of a woman, who died in the economy section of the airplane, sitting next to you. After flagging...
-
. Review the information about types of insurance and identify that in each of the following cases, which type of insurance will be applicable for insured: a. Insurance that covers movable proper...
-
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets...
-
B) Rhonica Company acquires an 80% interest in Kemar Company for $640,000 cash on January 1, 2021. The NCI has a fair value of $160,000. Any excess of cost over book value is attributed to goodwill....
-
Investigate the role of advanced numerical methods, such as finite element analysis and computational fluid dynamics, in simulating fluid-structure interaction phenomena in hydraulic engineering...
-
Recent problems facing the U.S. financial system were the result of all but which one of the following? a. An increase in the use of commercial paper for short-term financing b. The government...
-
Question 1: Case study on Lydo Cinema Chain Lydo Cinema Chain based in Melbourne, owns three cinemas in the suburbs of Camberwell, South Yarra and Ringwood. It has prepared budgets for the coming...
-
Explore the intricacies of transportation engineering, focusing on the optimization of traffic flow through intelligent transportation systems and the integration of emerging technologies like...
-
1. Do an internet search and identify a company whose financial information you will be discussing( e.g. Macys). Everyone needs to choose a different company . (Post the URL where this financial...
-
Which should drive action planning more, strengths or weaknesses? That is, is it more important to build on your strengths or to reduce your weaknesses? Explain.
-
P Ltd bought 40,000 shares in \($1\) Ltd and 27,000 shares in \($2\) Ltd on 31 December 2002. The following balance sheets were drafted as at 31 December 2003. You are to draw up a consolidated...
-
Pops Ltd buys shares in Sub 1 and Sub 2 on 31 December 2007. You are to draft the consolidated balance sheet as at 31 December 2008 from the following: Pops Balance Sheet as at 31 December 2008 E...
-
Prepare a consolidated balance sheet from the following details as at 31 March 2006. During the year, Pa sold goods which had cost 1,900 to Daughter for 2,800. None of these goods had been sold by...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App