Journalize the september transactions

Assignment Help Financial Accounting
Reference no: EM131162573

On September 1, Roshek Office Supply had an inventory of 32 calculators at a cost of $19 each. The company uses a perpetual inventory system. During September, the following transactions occurred.

Sept. 6

Purchased 109 calculators at $23 each from Harlow Co., terms 2/10, n/30.

Sept. 9

Paid freight of $218 on calculators purchased from Harlow Co.

Sept. 10

Returned 1 calculators to Harlow Co. for $25 credit (including freight) because they did not meet specifications.

Sept. 12

Sold 35 calculators costing $25 (including freight) for $37 each to Village Book Store, terms n/30.

Sept. 14

Granted credit of $37 to Village Book Store for the return of one calculator that was not ordered.

Sept. 20

Sold 44 calculators costing $25 for $41 each to Dixie Card Shop, terms n/30.

Journalize the September transactions.

Reference no: EM131162573

Questions Cloud

Develop and propose strategies : Demonstrate the skills and knowledge required for establishing a team performance plan - develop and propose strategies to ensure each team member participates in the project planning and develops policies and procedures for carrying out teamwork.
Construct a control chart for each unit : For each unit, calculate LCL and UCL for an appropriate control chart, using 95.5 percent confidence limits. - Construct a control chart for each unit.
Problem regarding the gender socialization : Describe ways in which each of the following contributes to gender socialization: parents, peers, teachers, media and sports. Do you have any personal examples?
Racial and ethnic relations in the united states : There are various patterns of intergroup relations ranging from genocide to assimilation. What are these patterns? What pattern of intergroup relations best describes the racial and ethnic relations in the United States?
Journalize the september transactions : On September 1, Roshek Office Supply had an inventory of 32 calculators at a cost of $19 each. The company uses a perpetual inventory system. Journalize the September transactions
Characteristics predetermined by genetics : Are our gender related characteristics predetermined by genetics or influenced by our environment?  What examples have you seen that prove or disprove this theory?
Determine the fraction defective in each sample : Determine the fraction defective in each sample. - Estimate the mean and standard deviation of the sampling distribution of fractions defective.
Discuss the characteristics of developmental-directive : Describe and discuss the characteristics of developmental, directive, and permissive leaders. Identify and discuss challenges faces by community leaders in community development. Discuss the Collaborative Problem-solving Framework.
Prepare separate entries for each transaction on the books : On June 10, Rebecca Company purchased $9,300 of merchandise from Clinton Company, FOB shipping point, terms 2/10, n/30. Prepare separate entries for each transaction on the books of Rebecca Company

Reviews

Write a Review

Financial Accounting Questions & Answers

  Who cares about the income statement

The balance sheet tells me about the cash the company's got; the cash flow statement tells me about its changes in cash. Who cares about the income statement?

  What rate of interest compounded continuously

A couple wishes to have $40,000 in 6 years for the down payment on a house. At what rate of interest compounded continuously must $25,000 be invested now to accomplish this goal?

  How each amount in the flexible budget was calculated

Explain how each amount in the flexible budget was calculated and determine the variance for each line of the profit and loss statement in both dollar terms and percentage terms

  Find the basic earnings per share

Make two income statements and the Retained Earnings Statement. Use the single-step format and multiple-step income formats and find the Basic earnings per share

  What is sharam industries cash conversion cycle

Sharam Industries has a 120-day operating cycle. If its average age of inventory is 50 days, how long is its average collection period? If its average payment period is 30 days, what is its cash conversion cycle?

  Prepare an income statement for the year ended december

Prepare an income statement for the year ended December 31. Prepare a statement of retained earnings for the year ended December 31. Prepare a balance sheet at December 31.

  Considered earned income for earned income credit purposes

Which of the following items are considered earned income for earned income credit purposes? Taxable pension income (disability benefits) received before reaching minimum retirement age.

  Calculate break-even and prepare a cash budget for january

Calculate break-even in units - calculate break-even in pounds if the sales price increases by 10% and fixed costs increase by £12,000.

  Prepare a financial statement worksheetdescribe the

prepare a financial statement worksheet.describe the advantages of using subsidiary ledgers and special journals.the

  Bankruptcy costs borne by bond holders in bankruptcy

A company has a zero-coupon bond outstanding, with face value 1,000 and a 3 year maturity. The bond is risky with a beta of 0.7. The risk free rate is 2% and the market risk premium is 6%. There are two equally likely scenarios at maturity:

  Intermediate computations

If an amount is zero, enter, "0". Do not round your intermediate computations. Round your final answer to nearest whole dollar value.

  Review the financial statements on the financial challenges

Review the financial statements and comment on the financial challenges Frequent Ad faces. Prepare Frequent Ad's income statement, statement of retained earnings, and balance sheet.

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