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Journalize these transactions, first on the books of Arnold Drug Stores and second on the books of Gerson Pharmaceuticals. Assume both companies use the periodic inventory system.
The following transactions occurred between Gerson Pharmaceuticals and Arnold Drug Stores during June of the current year.
June 6. Arnold purchased $29,400 of merchandise from Gerson on credit terms 2/10, n/30, FOB shipping point. Seperatel, Arnold paid freight in of $300. Gerson invoiced Arnold for $29,400
June 10. Arnold returned $3,600 of the merchandise purchased on June 6. Gerson issued a credit memo for this account.
June 15. Arnold paid $12,000 of invoice amount owed to Gerson for the June 6 purchase. This payment included none of the freight charge.
June 27. Arnold paid the remaining amount owed to Gerson for the June 6 purchase.
contributions of fixed assets may affect more than one type of fund. discovery barn a not-for-profit science center for
Gene is single and for 2010 has AGI of $40,000. He is age 65 and has no dependents. For 2010, he has itemized deductions from AGI of $7,000. Find out Gene’s taxable income for 2010.
qthe companys financial performance in recent years. refer to safeways income statement the balance sheet and the
total payroll of walnut co. was 184000 of which 320000 represented amounts paid in excess of 106800 to certain
a saw mill was purchased on july 1 2005 for 19.5 million. industrial engineers estimate the mill can saw 100 million
How may the impairment loss be recorded using US GAAP and for IFRS? and consider that at the end of 2011, Acme Inc. evaluates the company has recovered $12,000 of the patent impairment and $16,000 of the goodwill impairment. How may this be record..
The President informs you that Beverly's Building Products agrees to convert the $14,000 overdue accounts receivable (invoice No. 1119) balance to a 12% note due six months from today. Would this journal entry be recorded in the general journal or..
Which qualitative characteristics of financial reporting, as per the IASB Conceptual Framework, appear not to be satisfied by current reporting practices as per IFRS.
The future value of one for five periods at 8% is 1.46933. The future value of an ordinary annuity for five periods at 8% is 5.8666. The present value of an ordinary annuity for five periods at 8% is 3.99271. What was cost of the machine to Jenks?
Is there a way to get a reference to go by to know how to answer the ratio questions off of the assignment of the jcpennys and kohls 10K? Understand the formulas just not the jargon that is on the 10K to compare with my text.
Determine the activity rate for each of the activity cost pools. (Omit the "$" sign in your response. Round your answers to 2 decimal places.)
Assume that Kelly County issues $3,000,000 in general obligation bonds to build a new fire station and $7,000,000 in revenue bonds to finance the upgrade of their water treatment facility. How will these transactions affect the funds of the county
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