User Account

All Pages

Prepare a Record the transactions of DS Unlimited

Assignment Help Financial Accounting
Reference no: EM132488410

DS Unlimited has the following transactions during August.

August 6 Purchases 72 handheld game devices on account from GameGirl, Inc., for $210 each, terms 2/10, n/60.

August 7 Pays $410 to Sure Shipping for freight charges associated with the August 6 purchase.

August 10 Returns to GameGirl seven game devices that were defective.

August 14 Pays the full amount due to GameGirl.August 23 Sells 52 game devices purchased on August 6 for $230 each to customers on account.

The total cost of the 52 game devices sold is $11,030.00.

Required:

Question 1: Record the transactions of DS Unlimited, assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to 2 decimal places.)

Reference no: EM132488410

Questions Cloud

Applied professional practice : Applied Professional Practice - Submit a completed Professional Practice Journal and Complete the field notes at the same time as you are undertaking
How much interest expense would be incurred by december : If cash is borrowed on a $150,000 8-month 10% note on August 1, how much interest expense would be incurred by December 31?
Determinants of demand and supply : Due to advanced technology, the price of substitute goods for higher education has increased in demand; therefore, please illustrate by constructing
What are creative ways you have seen companies : What are creative ways you have seen companies or individuals with competing interests work together to advance their common cause?
Prepare a Record the transactions of DS Unlimited : Record the transactions of DS Unlimited, assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event)
Determine and calculate ending inventory and cost of goods : Determine and Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. Wright Company sells 500 remote-control airplanes
Why is society worse off under monopoly : Why is society worse off under monopoly than under perfect competition, even if both markets face the same constant long run average total cost curves.
Compute the apple inc debt to equity ratio at year-end : Compute the Apple Inc's debt to equity ratio at year-end. How does it compare to the industry? What does this tell you about the Apple Inc ?
What total amount will Janeen pay on march : The loan is due march 9th, 2020. Use ordinary interest to calculate the interest. What total amount will Janeen pay on march 9th 2020

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: +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