User Account

All Pages

Prepare alpha company journal entry for the payment

Assignment Help Accounting Basics
Reference no: EM131698891

Questiopn: 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 $3,000 of merchandise to Bravo Company on May 2, 2016. Selling price was $4,500 > Bravo Company returned, to Alpha Company, $300 of this merchandise on May 3, 2016. Merchandise was sold for $450 > Freight charges related to this transaction of $150 were paid by Alpha Company. Use this information to prepare Alpha Company's Journal entry (without explanation) for the payment for merchandise on May 15. If no entry is required then write "No Entry Required."

Reference no: EM131698891

Questions Cloud

What are the characteristics of the program : How do special needs, mentally ill, and substance-abusing prisoners affect the jail and prison systems at state and federal levels?
What are the amounts for each missing items : The information is provided in a table for Alpha Company and Bravo Company. Alpha Company Bravo Company Balance 12/31/15 Assets $605,000 Liabilities $142,000.
Describe how your company applies compensation practice : Describe how your company applies compensation practice to determine the positive or negative impact to the company and its stakeholders.
Describe the general characteristics and skills needed : How do the characteristics, skills, and actions needed by an agent of the government differ from those skills needed by social workers.
Prepare alpha company journal entry for the payment : Use this information to prepare Alpha Company's Journal entry (without explanation) for the payment for merchandise on May 15.
Question - horizontal and vertical analyses : Question - Horizontal and Vertical Analyses - Perform horizontal analysis on each of the items in the above comparative income statements
Analyze advantage to employees of person-focused pay program : Analyze the advantages to employees of a person-focused pay program to determine if this would be a good approach for all companies in the U.S. to pursue.
Various trials of replication of experiments : In regards to your conclusion about having evidence, do you think the results, from various trials of replication of experiments
Illustrate the pervasiveness of law in our daily lives : Illustrate the pervasiveness of law in our daily lives. Illustrate that law is both public and private, civil and criminal.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Analyse the assumptions behind public interest

Analyse the assumptions behind public interest, private interest and capture theories and evaluate which one best explains each of the comment letters

  A well-designed activity-based costing

Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000,

  Transaction-translation and economic exposures

What are the differences among transaction, translation, and economic exposures? Should all of them be ideally reduced to zero?

  Discuss the uniform series of cash flows

What uniform series of cash flows is equivalent to a $15,000 cash flow occurring today if the uniform series of cash flows occur at the end of each year.

  Change on a deferred tax liability

When a change in the tax law or rates occurs, the effect of the change on a deferred tax liability or asset must be recognized as an adjustment as of the:

  What investment income should big report

What investment income should Big report for 20X1?

  The noncash assets were then sold for 120000 and the

the h i and j partnership was about to enter liquidation with the following account balancescash90000. noncash

  Jefferson county maintains a tax agency fund for use by the

jefferson county maintains a tax agency fund for use by the county treasurer to record receivables collections and

  Discuss the financial leverage and cumulative earnings

A company issues 7,000 shares of its $10 par value common stock in exchange for equipment valued at $105,000. The entry to record this transaction includes.

  Leasing transactions represent a very significant portion

leasing transactions represent a very significant portion of the capital investments of many companies. the accounting

  Suze and bess formed the suzy b company by making capital

suze and bess formed the suzy b company by making capital contributions of 130000 and 195000 respectively. they predict

  The lase requires four equal payments of 175000 with the

bird leasing inc. leased equipment to george corporation on jan 1 2013. the terms of the lease are as follows. the lase

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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