Question
On October 5, Dandridge Company buys merchandise on account from Barker Company. The purchase price of the goods is $3,500. On October 20, Dandridge sells
On October 5, Dandridge Company buys merchandise on account from Barker Company. The purchase price of the goods is $3,500. On October 20, Dandridge sells all of the merchandise to Thom for $5,500 cash. Use a tabular summary to record the transactions for Dandridge Company using a perpetual inventory system.
| Assets | = | Liabilities | + | Stockholders' Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accts. | Common | Retained Earnings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash | + | Inv. | = | Pay. | + | Stock | + | Rev. | - | Exp. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| On October 5, Dandridge Company buys merchandise on account from Barker Company. The purchase price of the goods is $3,500. On October 20, Dandridge sells all of the merchandise to Thom for $5,500 cash. Use a tabular summary to record the transactions for Dandridge Company using a perpetual inventory system.
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Fraud Examination
Authors: W. Steve Albrecht, Conan C. Albrecht, Chad O. Albrecht, Mark F. Zimbelman
3rd edition
324560842, 978-0324560848
