Purchases of merchandise problem

Assignment Help Accounting Basics
Reference no: EM13258738

When purchases of merchandise are made for cash, the transaction:

a. increases Cash; decreases Merchandise Inventory

b. increases Merchandise Inventory; decreases Cash

c. increases Merchandise Inventory; decreases CashDiscounts

d. increases Merchandise Inventory; decreases Purchases

Reference no: EM13258738

Questions Cloud

Explain the reason for selecting topic three : Explain the reason for selecting topic one, identify the audience, and provide a preliminary thesis statement. Topic : Should changes be made to the U.S. immigration policy?
How does the work reflect or express the artists values : Describe the actual work of the artist and how does the work reflect or express the artist's values? Make sure to describe from the artist's perspective, use quotes from your interview - what motivates them?
Determine what is the average output voltage : Consider the half-wave rectifier below. Assume the transformer output has amplitude 10.0 V and the diode forward voltage drop is zero. (a) What is the average output voltage (b) What's the RMS output voltage
What is probability that 11 or more users are simultaneous : Suppose users share a 1Mbps link. Also suppose that the traffic generation process of each user alternates (independently of the other users) between periods of activity (active modes), when the user generates data at a constant rate of 100 Kbps
Purchases of merchandise problem : When purchases of merchandise are made for cash, the transaction:
Write the role that each variable plays in the model : At the bottom of each model write the role that each variable plays in the model (i.e. dependent variable (DV), independent variable (IV), moderator, and mediator).
Find the charges q1 and q2 due to the repulsive force : The repulsive force one exerts on the other when they are 20cm apart is 1.35 X 10-4 N. after the balls are touched together and then represented once again to 20cm, now the repulsive force is found to be 1.40 X 10-4 N. find the charges q1 and q2.
Fraction of the volume above the water : The density of ice is 917 kg/m3. What fraction of the volume of a piece of ice will be above the water when it is floating in fresh water, Fraction of the volume above the water
Components of the financial statement : What is the amount of net income? Which financial statement did you find this information? What are the components of this financial statement?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Investments with maturities

Cash equivalents are generally investments with maturities of :

  Multiple choice question on civil forfeiture laws

multiple choice question:-Civil forfeiture laws allow law enforcement to seize property in the absence of a criminal charge or the establishment of guilt if police believe they find any evidence of a drug-related crime.

  Determining regular income tax liability

If a taxpayer has tentative AMT of $60,000 and AMT of $15,000, what is the regular income tax liability?

  Differential delivery cost per month for expanding

It is futher estimated that the home delivery use of the trucks would be allocated 45% of the existing $6,500 fixed vehicle costs. What is the differential delivery cost per month for expanding into the home delivery market?

  Prepare the journal entries in relation to the equipment

The entity's balance date is 30 June, and it uses the straight-line method of depreciation. On 1 July 2011, the value is use was estimated to be $45,000 and the net selling price was $48,750. Prepare the journal entries in relation to the equipmen..

  Free cash flow for mediterranean tile company

Cash flows used for investments in property, plant, and equipment totaled $45,000, of which 60% of this investment was used to replace existing capacity. Determine the free cash flow for Mediterranean Tile Company.

  What is the ending balance of projected benefit obligation

what is the ending balance of the projected benefit obligation.

  Which does gaap require with recognition and why

The two main types of pension plans are defined benefit plans and defined contribution plans. Explain the difference between the two. How does the accounting for each differ?

  Capriati corp-equity securities entries

Journal entries for equity securities for Capriati Corp in 2012, their first year of business, including unrealized gains or losses in 2012:

  Determining company overview milestone

Find two annual reports from competing publicly traded companies of your choice. Prepare an overview of the two companies including a brief synopsis of the industry the companies are in, the market share each company holds, and the length of time ..

  Expense for carolina mills during the year

Carolina Mills purchased $270,000 in supplies this year. The supplies account increased by $10,000 during the year to an ending balance of $66,000. What was supplies expense for Carolina Mills during the year?

  Connection with consolidation of assest

What worksheet entries are needed in connection with the consolidation of this asset? Assume that the parent applies the partial equity method.

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