On may 1 shilling company sold merchandise
WebOn May 1, Shilling Company, Inc. sold merchandise in the amount of 5,800 to Anders, with credit term of 2/10/, n/30. The cost of the items sold is 4,000. Shilling uses the perpetual inventory system. The journal entry or entries that Shilling will make on; A company sold merchandise with a cost of $221 for $350 on account. Web123) On July 1, Ferguson Company sold merchandise in the amount of $5,800 to Tracey perpetual inventory system and the gross method. On July 5, Tracey returns some of the merchandise. The selling price of the merchandise is $500 and the cost of the merchandise returned is $350. The entry or entries that Ferguson must make on July 5 …
On may 1 shilling company sold merchandise
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Web21 de jun. de 2024 · Correct answers: 2 question: On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Shilling uses the perpetual inventory system and the gross method. The journal entry or entries that Shilling will make on May 1 is (are): asked Sep … Web10 de out. de 2024 · On May 1. Accounts receivable A/c Dr $5,800 ... Cost of goods sold A/c Dr $4,000 To Merchandise inventory A/c $4,000 (Being the cost of the item sold is …
WebOn May 1, Shilling Company, Inc. sold merchandise in the amount of 5,800 to Anders, with a credit term of 2/10/, n/30. The cost of the items sold is 4,000. Shilling uses the … WebGarza Company had sales of $141000, sales discounts of $2100, and sales returns of $3385. Garza Company's net sales equals: $135,515. Explanation: Net Sales= …
Web9. On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Shilling uses the perpetual inventory system and the gross method. The journal entry or entries that Shilling will make on May 1 is (are): a. WebThe cost of the items sold is $4,000. Shilling uses the perpetual inventory system and the gross method. The journal entry or entries that Shilling will make on May 1 is (are): On …
WebOn September 12, Vander Company sold merchandise in the amount of $9,200 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $5,700. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18, and takes the appropriate discount.
WebOn May 1, Shilling Company sold merchandise in the amount of $5,800 to Anderson, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Shilling uses the … tanya bernice turner whitesburg kentuckyWebGross Margin = Net Sales − Cost of Goods Sold; $825,000 − $547,000 = $278,000. Operating Expenses = Gross Margin − Net Income; $278,000 − $98,500 = $179,500. On … tanya bernard crochetWebQuestions and Answers for [Solved] On May 1, Shilling Company, Inc. sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Shilling uses the gross method of recording sales and a perpetual inventory system. The journal entry or entries that Shilling will make on May 1 is: tanya berezin actressWebMayfair Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $650 of merchandise on credit (that had cost $400) to Natara Morris, terms n∕15. 5 Sold $6,900 of merchandise (that had cost $4,200) to customers who used their Zisa cards. Zisa. charges a 3% fee. tanya bettencourtWebACCT Final 2 MC. 5.0 (1 review) Term. 1 / 18. A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of … tanya bettencourt reelWebExpert solutions for Question QUESTION 5 On May 1, Shilling Company, Inc. sold merchandise inthe:1146964 ... This E-mail is already registered as a Premium Member with us. Kindly login to access the content at no cost. tanya berry jhu google scholarWeb19 de nov. de 2024 · On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. - … tanya bhandary cs executive