Entries by mary WAMBUGU

Services were provided to customers for cash in the amount of $15,230.Supplies were purchased and used. This purchase occurred on account, in the amount of $2,400.

August 26, 2019 in /by

Services were provided to customers for cash in the amount of $15,230.Supplies were purchased and used.  This purchase occurred on account, in the amount of $2,400.Collections of outstanding receivables occurred in the amount of $19,410.Utilities costs in the amount of $763 were incurred and paid in cash.Payments on outstanding accounts payable were made for $23,900.Services were […]

 

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Under the net method, both purchases and accounts payable are recorded at the total invoice cost of the merchandise acquired. True or false

August 26, 2019 in /by

Under the net method, both purchases and accounts payable are recorded at the total invoice cost of the merchandise acquired. True or false   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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February 1, 2016, Alpha Company purchased land for the future factory location at a cost of $50,000. The dilapidated building that was on the property was demolished so that construction could begin on the new factory building.

August 26, 2019 in /by

February 1, 2016, Alpha Company purchased land for the future factory location at a cost of $50,000.  The dilapidated building that was on the property was demolished so that construction could begin on the new factory building. The new factory was completed on November 1, 2016. Costs incurred during this period were: Item Amount Demolition dilapidated […]

 

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Please provide the formulas need to solve below. What is the formula when taking into account gross method? Company used the periodic inventory system for purchase & sales of merchandise.

August 26, 2019 in /by

Please provide the formulas need to solve below. What is the formula when taking into account gross method? Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used. purchased on account $2,500 of merchandise on […]

 

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