User Account

All Pages

Record all necessary entries on the books of Gale

Assignment Help Accounting Basics
Reference no: EM132863461

Problem - Pickle Company is a consignee company that sells goods for other companies. During 2021, they received goods from Gale Company costing Gale $400,000. Pickle spent $10,000 on advertising and $1,000 on freight to get the goods to their store, both being reimbursed by Gale. A 15% commission is paid on goods sold. Half the goods were sold by Pickle in 2021 for $700,000.

Required - Record all necessary entries on the books of Gale (the consignor) for the goods sent, sales, cost of sales, and cash remittance.

Reference no: EM132863461

Questions Cloud

Competitiveness strategies to stakeholders : Strategy or plan for Disney company to communicate the competitiveness strategies to stakeholders
Sponsored terrorism on domestic and global communities : What are the primary effects of state-sponsored terrorism on the domestic and global communities?
Hypothesis between an independent and dependent variable : For each of the following describe whether it would be considered descriptive, predictive, or prescriptive:
Exploration of project management institute certifications : You have reached the end of this course. Many of you took this course as part of your concentration in project management while others took it as an elective.
Record all necessary entries on the books of Gale : Record all necessary entries on the books of Gale (the consignor) for the goods sent, sales, cost of sales, and cash remittance
Abuse of power and privilege : Borland International's story is similar to many companies as they begin their journey starting a business. It typically starts with one or two people that come
By what amount will Ws shareholder equity be increased : The options are exercised on April 2, 2023, when the market price is $21 per share. By what amount will W's shareholder's equity be increased
What amount should the supplier be willing to accept : Polo Park Bowling Lanes owes the same supplier $3,000 today and $2,500 one year from now. The owner proposed to pay both bills with a single payment four months
Communication methods throughout covid-19 pandemic : Goodlife Fitness was created in 1979, located in Canada, has over 200 locations in Canada and has partnered with 3 other brands to offer access to over 450 club

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