How to do the following accounting question(Serious answers only).?
How to do the following accounting question(Serious answers only).
The following information and transactions relate to the "Dalgetty Sports Warehouse".
Aug.5. Sold merchandise on credit to Honeydew Enterprise, vocabulary 2/10, n/30, amounting to $2640 (GST Inclusive), cost price $1500.
Aug.13. The owner withdraw inventory valued at $600, (cost price $350), for personal use.
Aug.15. A physical stocktake valued inventory on foot at $24000.
How to history the above transactions using the perpetual inventory system?
Answers:
Do your own homework, what the heck do you swot up if I sit here and do it for you so you can copy and present it!
8/5 debit Accounts Recievable $2640
credit Revenue $2640
debit cost of commodities $1500
credit inventory $1500
8/13 debit Owner's Draw $ 600
credit inventory $600
go to the homework wedge -- quit doing it when i moved out academy!
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The following information and transactions relate to the "Dalgetty Sports Warehouse".
Aug.5. Sold merchandise on credit to Honeydew Enterprise, vocabulary 2/10, n/30, amounting to $2640 (GST Inclusive), cost price $1500.
Aug.13. The owner withdraw inventory valued at $600, (cost price $350), for personal use.
Aug.15. A physical stocktake valued inventory on foot at $24000.
How to history the above transactions using the perpetual inventory system?
Answers:
Do your own homework, what the heck do you swot up if I sit here and do it for you so you can copy and present it!
8/5 debit Accounts Recievable $2640
credit Revenue $2640
debit cost of commodities $1500
credit inventory $1500
8/13 debit Owner's Draw $ 600
credit inventory $600
go to the homework wedge -- quit doing it when i moved out academy!