Jornalize the purchase, the return and the payment made

Assignment Help Financial Accounting
Reference no: EM132964669

Question - Princess Jewelry purchased inventory for $ 7,000 on credit to Wholesale Jewelry on February 2. The term of sale they offered was 3/10 n / 30. When they received the merchandise there were some broken pieces for a total value of $ 800.00, which they returned to Wholesale Jewelery. On February 8, Princesa Jewelry paid the balance owed. Jornalize the purchase, the return and the payment made.

Reference no: EM132964669

Questions Cloud

Develop an entity relationship diagram : Develop an Entity Relationship Diagram - Examine the remaining "things" and categorise them according to the entities identified.
Explain the ritz-carlton philosophy of selecting employees : Explain the Ritz-Carlton philosophy of selecting employees to build their capabilities for proficient strategy execution. How did the Ritz-Carlton get the "righ
Describe two ways community service workers : Describe two ways that community service workers could clarify their level of authority.
BUSI2231 Research Methods and Statistics Assignment : BUSI2231 Research Methods and Statistics Assignment Help and Solution, Durham University - Assessment Writing Service
Jornalize the purchase, the return and the payment made : Princess Jewelry purchased inventory for $ 7,000 on credit to Wholesale Jewelry on February 2. Jornalize the purchase, the return and the payment made
What is Cost of Goods Sold for December : At the beginning of the year, the company estimated manufacturing overhead for the year would be $240,000. What is Cost of Goods Sold for December
Can you research stocks that indeed are autocorrelated : what other models might we consider here to better fit this data? What business questions might we ask next after these analyses?
What is the annual average rate of return : Mathew bought a house for $182,000. In the next 4 years he estimates that its value would change as follows:
What is the balance of the lease liability : Annual payments of $33,200 commence on January 1, 2020. What is the balance of the lease liability at the end of December 31, 2021

Reviews

Write a Review

Financial Accounting Questions & Answers

  Which cost flow method should quality diamonds select

Which cost flow method should Quality Diamonds select? March 1. Opening Inventory, 150 diamonds at a cost of $300 per diamond

  How long will take april to pay off her quiktrip credit card

What is April's minimum payment? How long will it take April to pay off her QuikTrip credit card? How much interest will April pay if she only pays the minimum

  How do solve cash receipts from customers during the year

The opening balance of accounts receivable was $36 000, and the closing balance was $45 000. Calculate the cash receipts from customers during the year.

  What is interest expense to recognized on date discounting

Ling Company accepted from a customer P5,000,000 face amount, 6-month, What is the interest expense to be recognized on the date of discounting?

  Calculate the present value of a cash flow for the rates

Calculate the present value of a £100 cash flow for the following rates and times: (Do not round intermediate calculations. Round your answers)

  How will john financial statements be impacted

How will John's financial statements be impacted? John's General Store accepts for purchase, cash and personal check, VISA, and MasterCard credit cards only

  By what amount should a capital account change

In 2015 the partnership sustained a Php 99,000 loss before interest and salaries to partners. By what amount should A's capital account change

  What is the share capital available for subscription

What is the share capital available for subscription? Ordinary share capital(authorized 100,000 shares, no par value,issued 90,000 shares, P15 stated value)

  Explain why the investor should or should not be happy

A company XYZ issued 30 year bonds with 10% annual coupon rate at their par value of $1000 in 2010. Explain why the investor should or should not be happy

  What is the amount of big ben cost of goods sold

Big Ben, What is the amount of Big Ben's cost of goods sold that will be included in the current year's consolidated income statement?

  What cost of capital do the two projects

At what cost of capital do the two projects have the same net present value? (That is, what is the crossover rate?) Enter your answer rounded

  Using the tax tables-what is the amount

Sheniqua, a single taxpayer, had taxable income of $75,053. Her employer withheld $14,290 in federal income tax from her paychecks throughout the year. Using the tax tables, would Sheniqua receive a refund or would she be required to pay additional t..

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!

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