Ask Experts Questions for FREE Help !
Ask
    encer37's Avatar
    encer37 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 22, 2010, 06:28 AM
    Perpetual inventory method
    10/10 paid $13950 of accounts payable (from 10/2 purchase) and received the cash discount
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Feb 23, 2010, 02:29 AM

    Please see the guidelines for posting homework:
    https://www.askmehelpdesk.com/financ...-b-u-font.html
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Perpetual inventory method [ 1 Answers ]

The company uses the perpetual inventory method, record the following events in the general journal. 1) JAN 3. Purchase , of merchandise inventory from a supplier, Kelly Distributors, Inc. the terms of the purchase: 2/, n/ and FOB shipping point. 2) Jan 11 paid the amount due on account to...

Perpetual inventory method [ 1 Answers ]

Hello, could somebody please tell me which of the following statements is true under the perpetual inventory method? - Freight-In is subtracted from the inventory account - Freight-In is added to the inventory account - Freight-In is used only with the perpertual inveontory method...

Perpetual Inventory Method [ 2 Answers ]

I am confused! I am able to calculate the Perpetual Inventory system using the LIFO, FIFO, and Average Cost. However I do not know how to compute sale returns and purchase returns. Example: Dec. 31 Ending inventory 160 units @ $18 Jan. 2 Purchase ...

Perpetual inventory method [ 1 Answers ]

I can't seem to figure out how to journalize some information using the Perpetual inventory method. Here is the information. a) Sold merchandise on account, for $10,000. The cost of the merchandise sold was $4,500. b) Sold merchandise to customers who used MasterCard and VISA, $8,500. The...

View more questions Search