Journalize indicated transactions of ruby jewels

Assignment Help Managerial Accounting
Reference no: EM13529552

Journalizing periodic transactions On April 30, Fire & Ice Jewelers purchased inventory of $7,200 on account from Ruby Jewels, a jewelry importer. Terms were 3/15, net 45. On receiving the goods, Fire & Ice checked the order and found $600 of unsuitable merchandise. Therefore, Fire & Ice returned $600 of merchandise to Ruby on May 4. On May 14, Fire & Ice paid the net amount owed from April 30, less the return.

Requirement

1. Journalize indicated transactions of Ruby Jewels. Use the periodic inventory system. Explanations are not required.

Reference no: EM13529552

Questions Cloud

Find what is its apparent depth : A transparent rod 30.0 long is cut flat at one end and rounded to a hemispherical surface of radius 10.0 cm at the other end. What is its apparent depth when viewed from the curved end
Define balance the equation for the following reaction : Balance the equation for the following reaction in a basic solution. Give balanced equations for both half-reactions and balanced equation for the overall reaction.
Compute amount of supplies expense and salary expense : Compute the amount of Supplies expense, Salary expense, and Service revenue to report on the Superior International income statement for 2012.
Explain the two electrodes are carbon and aluminum : In a battery, water is used as a salt bridge, and the two electrodes are Carbon and Aluminum. Find the standard reduction potential of the battery, and indicate which electrode is the cathode and anode.
Journalize indicated transactions of ruby jewels : Journalize indicated transactions of Ruby Jewels. Use the periodic inventory system. Explanations are not required.
Estimate the cars speed at the bottom : A car of mass m is on an icy driveway inclined at an angle ? = 16.0°, What is the car's speed at the bottom
Evaluate the ph of each of the strong acid solutions : Calculate the pH of each of the following strong acid solutions (Remember in dilution M1V1 = M2V2 for part (b)). a. 5.00 mL of 1.00 M HCl diluted to 0.570 L
What is the amount of its liabilities : What is the amount of its liabilities and what is the amount of its equity - Use the accounting equation to compute the missing financial statement amounts
Obtain the magnitude of the acceleration of the train : At the end of a wild roller-coaster ride, the train of cars must come to a graceful stop at the loading station. What is the magnitude of the acceleration of the train

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Compute the activity rates for the activity cost pool

Compute the activity rates for the activity cost pools. Round off all calculations to the nearest whole cent

  Nbspyour assignment requires you to provide a formal

nbspyour assignment requires you to provide a formal business reportnbspmax 1500 words to your bank manager regarding

  Prepare flexible budget performance report

Prepare a flexible budget performance report that shows both activity variances and revenue and spending variances for October.

  How much manafacturing overhead would fibercom have applied

Determined the amount by which manafacturing overhead is overapplied or underapplied as of December 31 of the year completed.

  Make a quality cost report in good form

Prepare a Quality Cost Report in good form with separate sections for prevention costs, appraisal costs, internal failure costs, and external failure costs.

  Case studythorn ltd produces and sells three products - x y

case studythorn ltd produces and sells three products - x y and z. relevant information is given below.nbspnbspproduct

  Employee stock option accounting at starbucks corporation

Explain how management determined that only 4.7 million of new options would be granted in exchange for the 14.3 million options tendered. In other words, why might management be reluctant to grant 10.0 million of the new options?

  Part one chimanga changa ltd makes one product in a single

part one chimanga changa ltd makes one product in a single process. the details of the process for period 2 were as

  Effect on the companys total net operating income

Prepare a report that shows the effect on the company's total net operating income of buying part A55 from the supplier rather than continuing to make it inside the company.

  Prepare a schedule to allocate service department costs

Prepare a schedule to allocate Service Department costs to the Production Departments by the direct method, rounding all dollar amounts to the nearest whole dollar.

  Discussion job analysis

Describe how a job analysis increases productivity, aids in job description creation, and guides employee team formation.

  Stephen anest started a new business called repairs r us

stephen anest started a new business called repairs r us inc. at the beginning of the year. unfortunately stephen has

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