User Account

All Pages

What the correct journal entry to record the payment on july

Assignment Help Financial Accounting
Reference no: EM132811121

Problem 1: A company purchased $3,600 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $800 worth of merchandise. On July 12, it 33 paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is

Reference no: EM132811121

Questions Cloud

Facilitate the introduction of the new hris : How can the assignment of a champion facilitate the introduction of the new HRIS? Is Jack Newman the best person to act as champion?
Extablinging a positive hleping relationship : Discuss 3 things you have learned about yourself that may facilitate or interfere with extablinging a positive hleping relationship
What would the decision of company regarding the investment : Based on the Accounting Rate of Return (ARR) method, what would be the decision of the company regarding the investment (round to two decimal places)
What is amount to be recorded for depreciation : Beginning 2022 est. useful life rev. total life 8 years, expected salvage value changed 68,500. What is amount to be recorded for depreciation 2022?
What the correct journal entry to record the payment on july : What the correct journal entry to record the payment on July 12 is? A company purchased $3,600 of merchandise on July 5 with terms 2/10, n/30.
Describe the roles of social workers : Five (5) significant consequences/ challenges of having this type of wound for the military member and family. Additional interventions and services available.
How should the licences be reported : How should the licences be reported in accordance with AASB 138 'Intangible Assets'. Your answer should include the carrying amount
How much cash must be invested today at an annual interest : How much cash must be invested today at an annual interest rate of 10% compounded semi-annually? (Round to the nearest whole number.)
Produce a supply chain map for a category : Produce a supply chain map for a category of spend of your choice from your company and Using this map analyse and contrast the strengths and weaknesses

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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