Business, 24.04.2020 00:57, Sugarfoots4736
Colin Davis Machine Company maintains a general ledger account for each class of inventory, debiting such accounts for increases during the period and crediting them for decreases. The transactions below relate to the Raw Materials inventory account, which is debited for materials purchased and credited for materials requisitioned for use.1. An invoice for $8,100, terms f. o.b. destination, was received and entered January 2, 2004. The receiving report shows that the materials were received December 28, 2003.2. Materials costing $28,000, shipped f. o.b. destination, were not entered by December 31, 2003, "because they were in a railroad car on the company’s siding on that date and had not been unloaded."3. Materials costing $7,300 were returned to the creditor on December 29, 2003, and were shipped f. o.b. shipping point. The return was entered on that date, even though the materials are not expected to reach the creditor’s place of business until January 6, 2004.4. An invoice for $7,500, terms f. o.b. shipping point, was received and entered December 30, 2003. The receiving report shows that the materials were received January 4, 2004, and the bill of lading shows that they were shipped January 2, 2004.5. Materials costing $19,800 were received December 30, 2003, but no entry was made for them because "they were ordered with a specified delivery of no earlier than January 10, 2004."Instructions Prepare correcting general journal entries required at December 31, 2003, assuming that the books have not been closed.
Answers: 3
Business, 22.06.2019 11:00, hadwell34
You are attending college in the fall and you need to purchase a computer. you must finance the purchase because your parents will not purchase it for you, and you do not have the cash on hand to purchase it. in blank #1 determine which type of credit would you use to finance your purchase (installment, non-installment, or revolving credit). (2 points) in blank #2 defend your credit choice by explaining why your financing option is the best option for you. (2 points) in blank #3 explain why you selected that credit option over the other two options available. (2 points)
Answers: 3
Business, 22.06.2019 17:30, levicorey846
Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.
Answers: 3
Business, 22.06.2019 20:00, ethanyayger
Acompetitive market in healthcare would a. overprovide healthcare because the marginal social benefit of healthcare exceeds the marginal benefit perceived by consumers b. underprovide healthcare because it would eliminate medicare and medicaid c. underprovide healthcare because the marginal social benefit of healthcare exceeds the marginal benefit perceived by consumers d. overprovide healthcare because it would be similar to the approach used in canada
Answers: 1
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