What the entry or entries that Vander must make on September

Assignment Help Accounting Basics
Reference no: EM132727554

Question - On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jepson returns some of the non-defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. What the entry or entries that Vander must make on September 14?

Reference no: EM132727554

Questions Cloud

How to journalize the transactions : How to journalize the transactions - Dec. 1 Sold 380 shares of Escalante Corporation common stock for $24,320 cash
Determine the effective rate of the bonds : Determine the effective rate of the bonds. Show in good format, how the company would report the bonds on their balance sheet on December 31, 2015.
Law enforcement and legislative powers presentation : Create a 9-slide minimum Microsoft PowerPoint presentation in which you list the federal and state
Description of the program-building healthy texans : A brief description of the program; Building Healthy Texans: A Guide to lower healthcare costs and more productive employees.
What the entry or entries that Vander must make on September : The selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. What the entry or entries that Vander must make
Record all necessary entry related to option on june : Record all necessary entry/entries related to this option on December 1, 2018 assuming DCI exercises the call option and takes delivery of the shares of iLynes
Find a journal article online about the proper accounting : Find a journal article online about the proper accounting treatment for support department costs, joint costs, spoilage, or scrap
What is total cost of the ending inventory according to fifo : What is the total cost of the ending inventory according to FIFO? The firm uses the perpetual inventory system, and there are 23 units of the item on hand
Occupational safety and health : Briefly explain the difference between conductive and convective heat transfer.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Find and evaluate what is the project npv

Enterprises is considering a new three-year, If the tax rate is 32 percent and the required return on the project is 11 percent, what is the project's NPV?

  Calculate the amount of the loss on the sale

XYZ Company purchased a new machine on January 1, 2023 for $149,800. Calculate the amount of the loss on the sale of the machine recorded by XYZ Company

  Return on stockholders equity

Network Communications has total assets of $1,400,000 and current assets of $600,000. It turns over its fixed assets 4 times a year. It has $300,000 of debt. Its return on sales is 5 percent. What is its return on stockholders' equity?

  Review using horizontal analysis of income statement

ACC621 - Complete an analytical review using horizontal analysis of the Income Statement and the Balance Sheet using the trial balance provided

  Compute equivalent units for conversion costs

Weighted-average method, spoilage, equivalent units. (CMA, adapted) Consider the following data for November 2017 from MacLean Manufacturing Company.

  What will be the net increase in the denominator

What will be the net increase in the denominator of the EPS fraction if the market price of the common shares averaged $18 per share during 2016

  What is the required current or deferred tax journal entry

All Fixed Assets Purchased Prior to January 1, 2018 were Fully Depreciated at 12/31/17, What is the required current/deferred tax journal entry

  What would be Katydid before-tax component cost of debt

KatyDid Clothes has a $170 million (face value) 30-year bond issue selling for 102 percent of par. What would be Katydid before-tax component cost of debt

  The growth rate in dividends is expected to be a constant 6

universal laser onc. just paid a dividend of 2.75 on its stock. the growth rate in dividends is expected to be a

  Which of the following statements is correct answer one

which of the following statements is correct? answer one defect of the irr method is that it does not take account of

  A trial balance of the accounts of the bureau of bridge

Following is a trial balance of the accounts of the Bureau of Bridge Inspection (BOBI), a relatively new unit of the Department of Transportation (DOT), as of October 1, 2013:

  What was the amount of yaakov taxable estate

When Yaakov died in March 2013, his gross estate was valued at $8.5 million. What was the amount of Yaakov's taxable estate

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