User Account

All Pages

Which journal entries correctly records cost of goods? sold

Assignment Help Accounting Basics
Reference no: EM133033653

Question - A company that uses the perpetual inventory system sold goods for $2,800 to a customer on account. The company had purchased the inventory for $900. Which of the following journal entries correctly records the cost of goods? sold?

a. Cost of Goods Sold 900

Sales Revenue 900

b. Cost of Goods Sold 900

Merchandise Inventory 900

c. Merchandise Inventory 900

Cost of Goods Sold 900

d. Accounts Receivable 900

Sales Revenue 900

Reference no: EM133033653

Questions Cloud

Value of irrational strategic management : With the development of economy, original pure rational strategic management could not adapt to the complex and ever-changing environment now.
What is a maturity bucket in the repricing model : Question - What is a maturity bucket in the repricing model? How does this impact runoff
University of newcastle marketing services : The University of Newcastle marketing services are interested in mobile usage technology. A study was undertaken in which a random sample of students enrolled a
Describe the responsibilities of judge : Describe the responsibilities of a judge. What three conditions must be met before a prosecutor charges a person with a crime and prosecutes the case?
Which journal entries correctly records cost of goods? sold : The company had purchased the inventory for $900. Which of the following journal entries correctly records the cost of goods? sold
Building a coalition : Given the profiles of candidates for the development team, provide suggestions for who would likely be a good group member and who might be less effective in th
International humanitarian law : I am looking for someone who can help me write the P H D proposal. there are some issues regarding the international humanitarian law.
How much under or over are the company cash receipts : The cash register total for cash sales for the day was $54,493. How much under or over are the company's cash receipts for the day
Fredrick taylor and max weber organizational management : Compare and contrast Fredrick Taylor and Max Weber's organizational management theories? Which one between the two, in your view, is more relevant

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