User Account

All Pages

Which is part of the journal entry made by wildhorse retail

Assignment Help Financial Accounting
Reference no: EM132946450

Problem 1: Wildhorse Retail sold merchandise for $800 subject to credit terms of 2/10, n/30. Which one of the following is part of the journal entry made by Wildhorse Retail to record the collection in full within the discount period in a perpetual inventory system?

Option 1: Credit to Accounts Receivable for $816
Option 2: Credit to Inventory for $16
Option 3: Debit to Cash for $816
Option 4: Debit to Sales Discounts for $1616

Reference no: EM132946450

Questions Cloud

What was the acquisition cost of equipment : The depreciation applicable to this equipment was P240,000 for 2021 computed under the sum of years' digits method. What was the acquisition cost of equipment
Develop a pareto chart to analyse the problems : The following data represent problems (represented by letters A to F) that occur in a process.
How will you identify the teamwork in this department : Would you consider terminating these employees if the behavior did not stop? If so, what precautions would you take to assure the safety of everyone involved
Discuss the importance of the main decision areas : -Do you think an individual should come up with FINANCIAL PLANNING before SPENDING? Discuss your answer and give specific situation or example to complete the d
Which is part of the journal entry made by wildhorse retail : Which is part of the journal entry made by Wildhorse Retail to record the collection in full within the discount period in a perpetual inventory system?
Which program should the county health department choose : Which program should the county health department choose? Assume a discounting rate of 5% and discount at the beginning of the year
Evaluate the benefits of self-managed learning : Choose any organisation and propose the ways in which lifelong learning in personal and professional contexts could be encouraged within your chosen organisatio
How much revenue should pharoah recognize during may : Pharoah Company purchased 20 calculators for $20 each, one-half on May 14, How much revenue should Pharoah recognize during May?
Is the home depot working capital heavily reliant : The price of a business is equal to the amount of its equity and debt. Is The Home Depot's working capital heavily reliant on debt? Please elaborate

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