Determine the total purchases of supplies for july

Assignment Help Financial Accounting

Reference no: EM13913481

BusIness application- Affordable Flower Shop, Inc., uses a large amount of supplies in its business. The following table summarizes selected transaction data for supplies that Affordable purchased:

order A	Date Shipped June 26	Date Received July 5	Amount $ 600
B	July 10	July 15	1,500
C	July 16	July 22	800
D	July 23	July 30	1,200
E	July 27	Aug. 1	1,500
F	Aug. 3	Aug. 7	1,000

Determine the total purchases of supplies for July alone under each of the following assumptions:

1. Affordable recognizes purchases when orders are shipped.

2. Affordable recognizes purchases when orders are received.

Reference no: EM13913481

Questions Cloud

Percentage change in price of bond-semiannual payments : Both Bond Sam and Bond Dave have 7 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has five years to maturity, whereas Bond Dave has 20 years to maturity. If interest rates suddenly rise by 2 percent, what is the perc..

Production cost refers to prime cost plus : Production cost refers to prime cost plus 1. factory, administration and sales overheads 2. factory overheads

An electric ventricular assist device : An electric ventricular assist device (EVAD) that helps pump blood concurrently to a defective natural heart in sick patients can be shown to have a transfer function G(s) = Pao(s)/Em(s) =1361/ s2 + 69s + 70.85The input, Em(s) is the motor's armature..

A trial balance : Journalize the transactions, including explanations. Post to the ledger T-accounts. Prepare a trial balance on May 31, 2014

Determine the total purchases of supplies for july : Determine the total purchases of supplies for July alone under each of the following assumptions: Affordable recognizes purchases when orders are shipped. Affordable recognizes purchases when orders are received.

Forecast a securitys future performance : Finance professionals are continually reminding investors that past performance of a security does not guarantee future performance. Why then, do professional investors use historical information to forecast a security’s future performance?

Depreciated straight-line to zero over year project life : You estimate the sales price to be $10 per unit and sales volume to be 3,000 units in year 1; 10,000 units in year 2; and 1,000 units in year 3. The project has a three-year life. Variable costs amount to $3 per unit and fixed costs are $25,000 per y..

Provide estimates of marginal costs for highway use : Review the 1997 study and its May 2000 addendum and assess the cost allocation methodology as presented. Do you find the conclusions of the study to be justified, given your assessment of the methodology? Explain briefly why or why not.

Encourage the development and use of solar energy : What policies (taxes, subsidies, etc) would you recommend in order to encourage the development and use of solar energy (passive and photovoltaic energy)? Explain in detail.

User Account

All Pages