User Account

All Pages

Which journal entry to record cost of goods sold would be

Assignment Help Financial Accounting
Reference no: EM132946257

Question 1: Landon Jewelers uses the perpetual inventory system. On April 2, Landon sold merchandise with a cost of $1,500 for $10,000 to a customer on account with terms of 3/15, n/30. The journal entry to record the cost of goods sold would be:

a. Cost of Goods Sold 1500
Merchandise Inventory 1500

b. Sales Revenue 1500
Cost of Goods Sold 1500

c. Merchandise Inventory 1500
Cost of Goods Sold 1500

d. Cost of Goods Sold 1500
Accounts Receivable 1500

Reference no: EM132946257

Questions Cloud

Explain two limitations of generic hazard identification : Explain two (2) limitations of generic hazard identification and risk assessment checklists and risk ranking processes:
What is cost of goods sold for metlock : Ending inventory consists of 27 units from each of the three purchases and 9 units from the November 1 inventory, cost of goods sold is?
Demographics of the market including potential market size : Imagine you are an international business researcher. You have been hired by a Canadian business which is considering expanding internationally. They have narro
Features of death by powerpoint : What about the presentation suggests the features of "Death by PowerPoint"? What worked well?
Which journal entry to record cost of goods sold would be : Which journal entry to record cost of goods sold would be? On April 2, Landon sold merchandise with a cost of $1,500 for $10,000 to a customer on account
Baldrige performance excellence program : Using the award winning company from the Baldrige Performance Excellence Program website you have chosen to study, evaluate the "Award Application Summary" as a
Explain the pertinent parts of the negotiation : Explain the pertinent parts of the negotiation. Discuss stakeholders, difficulties, things to overcome, any of the ten negotiating components, and preparation
What is mobile commerce : What is mobile commerce and how does it relate to e-business and e-commerce? Your response should identify and discuss an example of a mobile commerce applicati
Revenue sources for healthcare organizations : Reimbursement Methods - Briefly describe it and, in your opinion, tell us what you think the positives and negatives are for the provider

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