User Account

All Pages

Create Alpha Company General Journal entries for May

Assignment Help Accounting Basics
Reference no: EM132647885

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 create Alpha Company's General Journal entries for May 2 & May 3 entries. If no entry is required then write "No Entry Required."

Reference no: EM132647885

Questions Cloud

What is critical issue in interpreting nature of transaction : What is the critical issue in interpreting the nature of this transaction? How does interpretation of the critical issue lead to the two different viewpoints
Describe and discuss the testing context : Design a test or assessment procedure for ESL, EFL or a foreign language. It should focus on one of the macro skills or one of the subskills
What is the ending balance in Retained Earnings : The statement of retained earnings shows an opening balance for Retained Earnings of $24,290. What is the ending balance in Retained Earnings
ACC1AIS Accounting And Information Systems Assignment : ACC1AIS Accounting And Information Systems Assignment Help and Solution, La Trobe University - Assessment Writing Service
Create Alpha Company General Journal entries for May : Use this information to create Alpha Company's General Journal entries for May 2 & May 3 entries. If no entry is required then write "No Entry Required."
Compute GTs tax expense for financial statement purposes : The $110,000 difference is the aggregate of temporary book tax differences. Compute GT's tax expense for financial statement purposes
What are the strategies identified in the self-assessment : Identify which questions ask about environmental arrangement. What are the strategies identified in the self-assessment as important for effective
How many tickets must sparkle sell to break even : Sparkle's variable costs are $26 per ticket. Burlington Air pays $50 fixed commission per ticket to Sparkle. How many tickets must Sparkle sell to break even
Built upon an ongoing analysis of the health service : Examination of how quality service provision is maintained and enhanced by the service - identifying how quality services and responsiveness to the needs

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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