User Account

All Pages

How would make a summary journal entry

Assignment Help Accounting Basics
Reference no: EM132728242

Question - Based on past experience, Kzinski has found that approximately 10% of mixers are returned for repair or replacement. The average cost to ship a mixer to Boston is $60.

The following transactions take place in 2020 and 2021.

1. A total of 30 mixers are sold in 2020.

2. Four of the mixers sold in 2020 are returned for repair in 2021. The total shipping cost for returning these four mixers to Boston is $210.

3. A total of 40 mixers are sold in 2021.

4. Two of the mixers sold in 2021 are returned for repair in 2021. The total shipping cost for returning these two mixers to Boston is $55.

How would make a summary journal entry (or entries) to record the shipment of the six mixers (four from the 2020 sales and two from the 2021 sales) for warranty repair in 2021?

Reference no: EM132728242

Questions Cloud

The role and function of law : Differentiate the federal court structure with your state's court structure. Discuss the concept of judicial review.
Find the amount of the appropriate adjusting entry : If uncollectible accounts expense is estimated at 3% of net sales, find the amount of the appropriate adjusting entry
How elimination complexities can affect the lives of patient : Discuss how elimination complexities can affect the lives of patients and their families. Discuss the nurse's role in supporting the patient's psychological.
Medical care differed from your beliefs : Describe one experience in which your patient's beliefs about his or her medical care differed from your beliefs.
How would make a summary journal entry : How would make a summary journal entry (or entries) to record the shipment of the six mixers for warranty repair in 2021
Discuss your options in the job market : Discuss your options in the job market based on your educational level. Review the IOM Future of Nursing Recommendations for achieving higher levels.
What was the estimated manufacturing overhead : The predetermined manufacturing overhead rate for 2020 was $4.00 per direct labor hour; What was the estimated manufacturing overhead
Evaluate actions in life or at work : Using Senge's criteria of designer, teacher, and steward, evaluate your actions in life or at work in each of these areas.
7COM1032 Artificial Life and Robotics Assignment : 7COM1032 Artificial Life and Robotics Assignment Help and Solution, University of Hertfordshire - Assessment Writing Service

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