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, language 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 mitt at $24000.
How to story the above transactions using the perpetual inventory system?
Answers:
Do your own homework you will cram more that passageway!
Perpetual inventory is keeping an accurate amount of inventory. first you requirement to procure that they use duplicate system Value or cost... and it looks from your examine appeal...
If you obligation to break this down more manually after you necessitate to see which commentary you involve to set up first and move about from near... If you didn't swot up T accounts on the other hand try that first don't bound contained by and do the problem...
your aug 15 dictation is what should be the match if you stipulation to find the starting amount you would obligation to affix the 2640 and 600 to the 24000
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Aug.5. Sold merchandise on credit to Honeydew Enterprise, language 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 mitt at $24000.
How to story the above transactions using the perpetual inventory system?
Answers:
Do your own homework you will cram more that passageway!
Perpetual inventory is keeping an accurate amount of inventory. first you requirement to procure that they use duplicate system Value or cost... and it looks from your examine appeal...
If you obligation to break this down more manually after you necessitate to see which commentary you involve to set up first and move about from near... If you didn't swot up T accounts on the other hand try that first don't bound contained by and do the problem...
your aug 15 dictation is what should be the match if you stipulation to find the starting amount you would obligation to affix the 2640 and 600 to the 24000