Journalize the september transactions

Assignment Help Accounting Basics
Reference no: EM133066239

Question - Blue Spruce Ltd. had beginning inventory of 55 units that cost $ 103 each. During September, the company purchased 205 units on account at $ 103 each, returned 8 units for credit, and sold 150 units at $ 200 each on account.

Journalize the September transactions, assuming that Blue Spruce Ltd. uses a perpetual inventory system.

Journalize the September transactions, assuming that Blue Spruce Ltd. uses a periodic inventory system.

Assume that Blue Spruce Ltd. uses a periodic system and prepares financial statements at the end of each month. An inventory count determines that there are 102 units of inventory remaining at September 30. Prepare the adjusting entry that is needed at September 30 to report cost of goods sold.

Reference no: EM133066239

Questions Cloud

Discuss what collective bargaining : Define and discuss what collective bargaining is. Discuss all of the steps of the collective bargaining process.
What amount does fenland need to invest each year : Gully company plans to retire $100 million in bonds in five years, so it wishes to create a fund. What amount does Fenland need to invest each year
Provide the appropriate journal entry on September : Provide the appropriate journal entry on September 1, 2021 to record the issuance of the bonds if the market rate of interest is 5%
Industrial labor relations : The industrial relations principles are not designed to apply favorably to only one segment.
Journalize the september transactions : Journalize the September transactions, assuming that Blue Spruce Ltd. uses a perpetual inventory system
Political economic theory and political ideology : Discuss the difference between political economic theory and political ideology the impact of political parties and electoral politics
Evolution of object orientation in programming : Detail the evolution of object orientation in programming from the early conceptualizations up to current O-O concepts, structures, and capabilities.
Disable router firewall : To find out how to disable router firewall, you must know the steps that you are supposed to follow. First of all, you should log in to your router settings;
Define software reliability : Define Software Reliability. Explain why there are fundamental ideas of software engineering that apply to all types of software systems.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How you make your determination about which was preferable

Is issuing equity or debt preferable in the current business climate? Why? How did you make your determination about which was preferable

  Compute the direct materials price and quantity variances

Lightin' Slow Co. has developed a new puzzle called the Brainbuster. Compute the Direct materials price and quantity variances

  Prepare journal entries on the books of Porto Douro Company

Assuming the net method is used for recording inventory purchases, prepare the journal entries on the books of Porto Douro Company

  How much of the policy proceeds

The total premium payments made on the policy were $10,000. How much of the policy proceeds, if any, are included in Larry's estate?

  Create content for physical occupational theraphy

Create content for Physical Theraphy and Occupational Theraphy. The company is a rehab company that provides Occupational Theraphy and Physical theraphy.

  What is Freddy recognized gain on the distribution of land

The FMV of the land at the time of contribution $50,000 and Freddy's basis was $35,000. What is Freddy recognized gain on the distribution of land

  What is the initial cost of the copper mine

The company's credit-adjusted risk-free interest rate is 6%. What is the initial cost of the copper mine

  Us best corporation produces and distributes products

us best corporation produces and distributes products nationwide and competes on cost leadership. in order to maintain

  Jack transferred property with an adjusted basis of 45000

jack transferred property with an adjusted basis of 45000 to jkl corporation. there was a 35000 mortgage on the

  Compute the sales- quantity and sales- mix variances

Question - Variance analysis, multiple products. Compute the sales- quantity and sales- mix variances for each type of ticket and in total in 2012

  What would the company monthly net operating income be

What would the company's monthly net operating income be if sales increased by 25% and there is no change in total fixed expenses?

  What amounts will book mart report

What amounts will Book Mart report on the 2013 W-2s for each employee?

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