Entries by Munene david

100. – Prepare the necessary journal entries to record the following

May 5, 2020 in /by

100. – Prepare the necessary journal entries to record the following transactions, assuming Albalnee Company uses a perpetual inventory system. Feb. 2 Purchased $35,000 of merchandise on account, terms 2/10, n/30. Feb. 5 Returned $700 of damaged merchandise for credit. Feb. 11 Paid for the merchandise purchased within 10 days.   Looking for a Similar […]

 

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F12… On October 1, Freed Supply had an inventory of 15 backpacks

May 5, 2020 in /by

F12… On October 1, Freed Supply had an inventory of 15 backpacks at a cost of $20 each. The company uses a perpetual inventory system. During October, the following transactions and events occurred. Oct. 4 Purchased 70 backpacks at $20 each from hunters, terms 2/10, n/30. Oct. 6 Received credit of $100 for the return […]

 

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Based on the following information, compute the (1) current ratio

May 5, 2020 in /by

Based on the following information, compute the (1) current ratio and (2) working capital. (Round current ratio to 1 decimal place, e.g. 52.5.) Current assets$200,000 Total assets900,000 Current liabilities80,000 Total liabilities500,000   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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The following information is available for Edmiston Company

May 5, 2020 in /by

The following information is available for Edmiston Company.<br/><br/><br/>Beginning accounts receivable$70,000Ending accounts receivable110,000Net sales990,000 Compute the following to one decimal place each: 1. accounts receivable turnover 2. accounts receivable days outstanding.   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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