Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 11, 2024

Prepare a journal entries for March 5th. March 5th: Sold 8,000 merchandise in cash on FOB shipping terms . The cost of goods sold was

Prepare a journal entries for March 5th. March 5th: Sold 8,000 merchandise in cash on FOB shipping terms . The cost of goods sold was 2,000 . Sales tax was 7 % not included.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Operational Auditing An Introduction With Suggested Answers To Discussion Questions

Authors: Darwin J. Casler

1st Edition

0894130978, 978-0894130977

More Books

Students also viewed these Accounting questions

Question

★★★★★

A linear spring, F ks(x xo), with spring constant ks 500 N/m, is stretched until it is 100 mm longer. Find the required force and work input.

Answered: 1 week ago

Question

★★★★★

Let w = (r, ), r = x 2 + y 2 , and = tan -1 ( y/x). Find w/x and w/y and express your answers in terms of r and .

Answered: 1 week ago

Question

★★★★★

What is the difference between the anxiety experienced by a person who is having a panic attack and the anxiety of a person who engages in excessive worrying? Consider the intensity of the anxiety,...

Answered: 1 week ago

Question

★★★★★

Consider the following set of transactions occurring during the month of May for Bison Consulting Company. For each transaction, indicate the impact on (1) The balance of cash, (2) Cash-basis net...

Answered: 1 week ago

Question

★★★★★

Prepare a journal entries for March 5th. March 5th: Sold 8,000 merchandise in cash on FOB shipping terms . The cost of goods sold was 2,000 . Sales tax was 7 % not included.

Answered: 1 week ago

Question

★★★★★

What must happen to interest rates for the purchaser of a call option on a bond to make money?How does the writer of the call option make money?

Answered: 1 week ago

Question

★★★★★

Sharon contributes 5% of her annual earnings of $40,000.00 to her defined contribution pension plan. Her employer matches her contributions. Calculate Sharon's pension adjustment

Answered: 1 week ago

Question

★★★★★

Complete business activity and instalment activity statements in Australia Swanston Enterprises report GST quarterly on a cash basis. They had the following account balances (on a cash basis) for the...

Answered: 1 week ago

Question

★★★★★

14. A cylinder whose radius is 2 inches is removed from the right prism as shown. The ends of the prism have the shape of an equilateral triangle whose sides are 8 inches long. Find the volume of the...

Answered: 1 week ago

Question

★★★★★

Let A={-5,-4,-3, -2, -1, 0, 1, 2, 3, 4, 54. For each of the following relations on A, determine if it is partial order or an equivalence relation (justify your answers). If the relation is partial...

Answered: 1 week ago

Question

★★★★★

1) Let us consider the following value of parameters to simulate the quadcopter motion in MATLAB while using the in-built command "ODE45" to solve the quadcopter equations of motion: g= 9.81m/s, m =...

Answered: 1 week ago

Question

★★★★★

the loss of markets in the former Soviet bloc, with its collapse, but evidence that this may still be a key factor in the positioning of some companies;

Answered: 1 week ago

Question

★★★★★

a change in management, with managers of former DDR enterprises still often the same people who operated under the old system, but perhaps then in more junior positions. Somes managers have been...

Answered: 1 week ago

Question

★★★★★

a replacement of pecuniary motivation by social-ideological commitment.

Answered: 1 week ago

Previous Question Next Question