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Question - Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used.
Alpha Company sold on account merchandise costing $3,000 to Bravo Company on May 2, 2016. Selling price was $4,500. Freight charges related to this transaction of $200 were paid by Alpha Company.
Bravo Company returned, to Alpha Company, merchandise with an original cost to Alpha of $300 on May 3, 2016. Merchandise was sold to Bravo for $450
Use this information to make Alpha Company's General Journal entries (without explanation) for May 2 & May 3 entries. If no entry is required then write "No Entry Required."
The Carrefour Group reports the following description of its trading securities (titled "financial assets reported at fair value in the income statement").
the store had net sales of $345,000 and net purchases of $325,000. On December 31, 2013, the inventory was $50,000. What is the estimated gross profit
any kind of assistance will be greatly appreciated.... looking for outline or a template or example of one previously
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