User Account

All Pages

Compute the amount that alexander company received

Assignment Help Accounting Basics
Reference no: EM132425712

Question - If Alexander Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Alexander Company received on August 19.

August 8: Sold goods costing $8,400 to Collins Company on account, $14,000, terms 5/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $70.

August 14: Collins Company returned undamaged merchandise previously purchased on account, $2,200

August 19: Received the amount due from Collins Company.

Reference no: EM132425712

Questions Cloud

Journalize the transactions for patrick corporation : Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. Journalize the transactions for Patrick Corporation
How are four type of capital identified by roche employed : How might your organization's current business model/operations be adapted to better more effectively operate according to principles of mutuality?
Distinct examples of art from the entire course : We have been examining art across cultures and time periods. Pick 3 different and distinct examples of art from the entire course
Describe the radiological or nuclear incident : Describe the radiological or nuclear incident and where it took place.
Compute the amount that alexander company received : If Alexander Company uses the gross method and a perpetual inventory system. Compute the amount that Alexander Company received on August 19
Minimize risks associated with manager conduct to company : Specifically Mr. Jones wants to know what can and cannot be done to minimize the risks associated with this Manager's conduct to the Company.?
What heterogeneous characteristics exist within the group : Why do you think those misconceptions exist? Explain. These characteristics are often shallow. Identify what heterogeneous characteristics exist within group.
How much of a net profit or loss did this sale produce : The company sold 10 items for a total of $1,000. How much of a net profit or loss did this sale produce
What type of finance the business in question : What type of finance the business in question should go for and why. Of course, there could be more than one appropriate source of finance

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare all journal entries with respect to bad debts

Required: Prepare all journal entries for 2009 with respect to bad debts and the allowance for uncollectible accounts

  Calculate the transfer price for shea butter sales

Calculate the transfer price for shea butter sales between the Shea Butter Department and the Mixing Department

  Prepare a schedule of expected cash collections

Selling and administrative expenses are budgeted at $430,000 for December. Prepare a schedule of expected cash collections for December

  Prepare an executive summary for addressing the adjustments

Prepare an executive summary for Mr. Williams addressing the adjustments that should be made to the Chain's current merchandise inventory policy.

  What was the average market price per share

What was the average market price per share at which common stock was issued? How many shares of treasury stock are owned

  What are some important assumptions commonly made

Discuss What are some important assumptions commonly made in CVP analysis? What significant assumptions and limitations should be considered

  Relative high audit fees

Explain how acceptance of large, high risk audit clients for relatively high audit fees may threaten and audit firm's de facto and perceived independence. Under what circumstances should such prospective clients be avoided?

  Finished goods inventory at the end of 2009 was 12000 units

1 fantastic futons manufactures futons. the estimated number of futon sales for the first three months of 2010 are as

  Lakeside inc manufactures four lines of remote control

lakeside inc. manufactures four lines of remote control boats and uses activity-based costing to calculate product

  Discuss the accounting rules in brief

FASB and the IASB are working on a joint convergence project to bring US GAAP and IFRS revenue recognition rules into alignment.

  Result of technological advances-increased competition

When the environment changes as a result of technological advances, increased competition, or government regulation, an accounting system does not have to be sufficiently flexible to meet the changes in order to save money.

  What is the firm cost of preferred stock

The preferred stock of pollard's pools pays an annual dividend of $5.50 a share and sells for $42 a share. What is the firm's cost of preferred stock

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd