Recording sales, purchases, shipping, and returns-buyer and seller. Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions.
May 11 Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $30,000. Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise.
12 Sydney returns $1,400 of the $40,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $1,050.
20 Sydney pays Troy for the amount owed. Troy receives the cash immediately.
Required:
a. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions
b. Prepare journeal entries that Troy Wholesalers (seller) records for these three transactions.
Answers: 2
Business, 21.06.2019 20:30, Rocket3138
If temper company, a manufacturer of mattresses, was considering moving its production facilities to china but decided against it because the additional costs of shipping the mattresses back to the u. s. would offset the cost savings associated with moving the production facilities, the increased costs associated with shipping would be an example ofanswers: learning-curve economies. diseconomies of scale. economies of scale. competitive advantages.
Answers: 2
Business, 22.06.2019 11:40, avagracegirlp17zx2
On january 1, 2017, sophie's sunlounge owned 4 tanning beds valued at $20,000. during 2017, sophie's bought 3 new beds at a total cost of $14 comma 000, and at the end of the year the market value of all of sophie's beds was $24 comma 000. what was sophie's net investment
Answers: 3
Business, 22.06.2019 21:00, nikkiwoodward1ovgszp
Warner inc. sells a high-speed retrieval system for mining information. it provides the following information for the year. budgeted actual overhead cost $965,700 $905,000 machine hours 58,570 49,200 direct labor hours 107,300 104,200 overhead is applied on the basis of direct labor hours. compute the predetermined overhead rate. predetermined overhead rate $ per direct labor hour link to text determine the amount of overhead applied for the year. the amount of overhead applied $
Answers: 1
Recording sales, purchases, shipping, and returns-buyer and seller. Sydney Retailing (buyer) and Tro...
English, 12.05.2021 14:00
Mathematics, 12.05.2021 14:00
Mathematics, 12.05.2021 14:00