User Account

All Pages

What the journal entry that jepson will make on september

Assignment Help Accounting Basics
Reference no: EM132699868

Problem 1: On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Jepson uses the periodic inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 is:

Multiple Choice

Option 1: Merchandise inventory5,800 Accounts payable 5,800

Option 2: Purchases5,800 Accounts receivable 5,800

Option 3: Accounts payable4,000 Merchandise inventory 4,000

Option 4: Purchases4,000 Accounts receivable 4,000

Option 5: Purchases5,800 Accounts payable 5,800

Reference no: EM132699868

Questions Cloud

What is the value of cost of goods sold for eastview company : What is the value of cost of goods sold? Eastview Company uses a perpetual LIFO inventory system, and has the purchases and sales
Construct an income statement for KKB for the month of May : Kennedy Kitchen and Bath (KKB) Company designs and installs upscale kitchens and bathrooms. Construct an income statement for KKB for the month of May
Discuss fact-based evidence about how interest groups : Discuss fact-based evidence about how interest groups, political party loyalty, or campaign money may influence your representative.
What are the legal issues presented in the case : What are the legal issues presented in this case? Did the plaintiff establish a valid prima facie case of pay discrimination? Was there a basis for equal work?
What the journal entry that jepson will make on september : Jepson uses the periodic inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 is
How eastern market potentially view new hire orientation : Discuss how the Eastern market will potentially view new hire orientation, and then discuss two to three ways to tailor the new hire orientation to this market.
Electoral college rationale to contemporary america : Your judgment about the relevance of the Electoral College's underlying rationale to contemporary America.
Which transactions could contribute to the cash increase : Suppose a Corporation's cash flow statement shows an increase in cash.Which of the following transactions could contribute to the cash increase?
What is the journal entry for overhead applied : Direct labor is paid $15 per hour, and overhead is applied at the rate of $6 per direct labor hour. What is the journal entry for overhead applied

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