John's specialty store uses a perpetual inveentory system. the following are some inventory transaction for the month of may 2009. John's purchased merchandise on account for $5,000. Freight charges of $300 were paid in cash.John's returned some of the merchandise

20,864 results
  1. Calculus

    A sporting goods store sells 100 pool tables per year. It costs $20 to store one pool table for a year, based on the average inventory on hand. It costs $40 for each delivery of pool tables. How many times per year and in what lot size should the store

  2. math

    in a jewelry store, rings make up 5/9 of the inventory. Earrings make up 4/15 of the inventory. How many times greater is the ring inventory than the earring inventory?

  3. Statistics

    John runs a computer software store. Yesterday he counted 127 people whwo walked by his store, 58 of whom came into the store. OF the 58, only 25 bought something in the store. A. What is probability that a person who walks by the store will enter the

  4. accounting

    Schumacher Company uses the perpetual inventory system, and it engaged in the following transactions during 2012: 1) Started the business by issuing common stock for $7,500 cash 2) Paid cash to purchase $5,000 of inventory 3) Sold inventory that cost

  5. Accounting

    Identify whether each description best applies to a periodic or a perpetual inventory system. a. Provides more timely information to managers. b. Requires an adjusting entry to record inventory shrinkage. c. Markedly increased in frequency and popularity

  6. Accounting

    The Major Issue in inventory accounting is: A. determining whether to take inventory using cycle counts as opposed to counting all inventory only at the end of the year. B. deciding whether to maintain records on a periodic or perpetual basis. C.

  7. Accounting

    The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2013 Debit Credit Cash $ 26,150 Merchandise inventory 14,500 Store supplies 5,000 Prepaid insurance 2,100 Store

  8. Business Computer Information Systems

    A large department store has been attaching tags with barcodes to merchandise, and employees use barcode readers to scan merchandise at the cash register. However, the wireless barcode readers need new batteries often. Also, using this system for inventory

  9. business computer Information Systems

    A large department store has been attaching tags with barcodes to merchandise, and employees use barcode readers to scan merchandise at the cash register. However, the wireless barcode readers need new batteries often. Also, using this system for inventory

  10. accounting

    which one would not likely employ the specific identification method for inventory costing? hardware store farm implement dealership music store specializing in organ sales antique shop

  11. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  12. Math

    On July 15,2009, the Nixon Car Company purchased 1,000 tires from the Harwell Company for $50 each. The terms for the sale were 2/10, n/30. Nixon uses a periodic inventory system and the net method of accounting for purchase discounts. 1. prepare the

  13. Accounting

    The beginning inventory of Merchandise at Waldo Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Number of Units Per Unit Total March 3 Inventory 60 $1500 $90,000 8 Purchase 120 1800 216,000 11 Sale 80 5000

  14. fin 324

    5.) Managing Working Capital. A new computer system allows your firm to more accurately monitor inventory and anticipate future inventory shortfalls. As a result, the firm feels more able to pare down its inventory levels. What effect will the new system

  15. accounting

    A company that uses perpetual inventory system made the following cash purchases and sales: January 1 Purchased 100 units at $10 per unit. February 5: Purchased 60 units at $12 per unit. March 16: Sold 40 units for $16 per unit. Prepare general journal

  16. math help please

    jasper owns a small retail store as a sole proprietor. the business records show that the cost of the stores inventory items has been steadily increasing. the cost of the end of the year inventory is 200,000 and the cost of the beginning of the year

  17. math help please

    jasper owns a small retail store as a sole proprietor. the business records show that the cost of the stores inventory items has been steadily increasing. the cost of the end of the year inventory is 200,000 and the cost of the beginning of the year

  18. college

    I need help to journalize these transactions for accounting. Samantha purchased inventory costing 125,000 and sold 70% of the goods for 162,500 all purchases and sales were on account She later collected 25% of the accounts receivable Which is the

  19. Accounting

    Q.2. A company that uses the perpetual inventory system purchased $8,500 worth of inventory on September 25. Terms of the purchase were 2/10, n/30. The invoice was paid in full on October 4. Prepare the journal entries to record these merchandise

  20. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  21. Accounting 225

    Parker Company uses a perpetual inventory system. It entered into the following calendar-year 2005 purchases and sales transactions:

  22. Mathematical Applications

    For the life of me, I cannot understand this question! Will someoe please help me, explain to me how I can solve it, PLEASE! Q- a party supplies store recorded net sles of $423,400 for he year.The store's beginnng iventory at retail was $105,850 andits

  23. accounting

    Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 170 units @ $52.40/unit Mar. 5 Purchase 260

  24. math

    ) The circle graph below gives the inventory of the women's department of a store. Coats $49,737 Dresses $47,208 Skirts Lingerie $9273 $5058 Slacks Socks $15,174 Blouses $2529 $5901 What is the total inventory?

  25. Math

    John's Specialty Store uses a periodic inventory system. The following are some inventory transactions for the month of May, 2009.

  26. HELP WITH ACC

    I need help on the freight charges of each transaction, I always get confused when I see the FOB’s. Presented here are selected transactions for Norlan Inc during September of the current year. Norlan uses a perpetual inventory system. Sold merchandise

  27. Accounting

    Hawkeye Electric Company engaged in the following transactions during July. Journalize the preceding transactions on the books of Hawkeye Electric Company using the perpetual system of inventory. July 2 – Purchased inventory for cash, $800 July 5 –

  28. accounting

    identify whether each descripition best applies to a periodic or a perpetual inventory system

  29. Advanced Accounting

    Mr. Right and Mr. Wrong own an antique store in a partnership. They share profits and losses equally and receive an annual salary of $50,000, as per the partnership agreement. Mr. Right travels the country buying antiques. Mr. Wrong manages the store. From

  30. accounting

    I have tried to figure out how to do this for four days and my textbook does not give an example on how to do this problem. Lower-of-Cost-or-Market Corrs Company began operations in 2007 and determined its ending inventory at cost and at lower of cost or

  31. Accounting help

    Cost flow assumptions-FIFO and LIFO using a periodic system. Beginning inventory was 600 units at a cost of $20 per unit. Goods available for sale during the year 2600 units at a total cost of $57,600. In May 1200 units were purchased at a total cost

  32. Math

    I need help in seeing if I solved these inequality problems correctly. 1. A store sells two models of computers. Because of the demand, the store stocks at least twice as many units of model A as of model B. The costs to the store for the two models are

  33. statistics

    John runs a computer software store. Yesterday he counted 133 people who walked by the store, 66 of whom came into the store. Of the 66, only 24 bought something in the store.

  34. pilgram

    Managing Working Capital. A new computer system allows your firm to more accurately monitor inventory and anticipate future inventory shortfalls. As a result, the firm feels more able to pare down its inventory levels. What effect will the new system have

  35. Finance

    Managing Working Capital. A new computer system allows your firm to more accurately monitor inventory and anticipate future inventory shortfalls. As a result, the firm feels more able to pare down its inventory levels. What effect will the new system have

  36. Accounting

    . Journalize the following transactions using the perpetual inventory method. Aug. 6 Purchased $830 of inventory on account from Johnston with terms of 2/10, n/30. Aug. 8 Purchased $2,611 of inventory for cash from Pillner Company. Aug.15 Paid for August 6

  37. Math word problem

    A person comes into a store and say to the shopkeeper, "I will buy half of your eggs plus half of an egg. "The transaction is made. A second person comes into the store and makes the same transaction. So does a third. The shopkeeper notices tha he now has

  38. math

    John's specialty store uses a perpetual inveentory system. the following are some inventory transaction for the month of may 2009. John's purchased merchandise on account for $5,000. Freight charges of $300 were paid in cash.John's returned some of the

  39. accounting

    John's specialty store uses a perpetual inveentory system. the following are some inventory transaction for the month of may 2009. John's purchased merchandise on account for $5,000. FREIGHT CHARGE OF $300 WERE PAID IN CASH. JOHN'S RETURNED SOME OF THE

  40. Accounting

    The president of Penman Corporation, John Burton, has asked you, the company’s controller, to advise him on whether Penman should develop a just-in-time (JIT) inventory system. Your research concludes that there is a high cost associated with inventory

  41. Accounting

    I need help on the freight charges of each transaction, I always get confused when I see the FOB’s. Presented here are selected transactions for Norlan Inc during September of the current year. Norlan uses a perpetual inventory system. Sold merchandise

  42. Accounting

    I need help on the freight charges of each transaction, I always get confused when I see the FOB’s. Presented here are selected transactions for Norlan Inc during September of the current year. Norlan uses a perpetual inventory system. Sold merchandise

  43. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  44. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  45. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  46. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  47. math help please

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  48. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  49. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  50. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and the cost of the beginning

  51. Accounting

    Using a perpetual system, how do I determine the FIFO,LIFO, weighted average, and specific identification. Dec. 7, 10 units @ 6.00, Dec 14 20units @ 12.00, and Dec 21. 15 units @ 14.00 cost. trader sells 15 units for 25 each on December 15. Eight of the

  52. math help please

    Posted by keri on Wednesday, November 13, 2013 at 1:08am. Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the

  53. business accounting

    Lakie uses a perpetual inventory system. Ending inventory consists of 500 units, 400 from the July 28 purchase and 100 from the Dec19 purchase. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b)

  54. accounting

    A company purchased 1000 units of inventory on September 25 and the cost per unit was $8.50. Terms of the purchase were 2/10, n/30. The invoice was paid in full on October 4. (Assume a perpetual inventory system). Prepare the journal entries to fully

  55. ACCOUNTING

    A company purchased 1000 units of inventory on September 25 and the cost per unit was $8.50. Terms of the purchase were 2/10, n/30. The invoice was paid in full on October 4. (Assume a perpetual inventory system). Prepare the journal entries to fully

  56. accounting

    Meranda Corporation purchases $3,500 of inventory on account from Ashley Corporation. The journal entry to record this purchase for Meranda under a perpetual inventory system is

  57. accounting

    You are a merchandiser that buys wild widgets from a vendor for $70 each, marks them up, and sells them for $100 each. Journalize the three transactions below.You use the perpetual inventory system and reduce inventory when it is sold. You sell 80 wild

  58. math

    a party suppilies store recored net sales of $423,400 for the year. the store's begining inventory at retail was $105,850 and its ending inventory inventory at retail was $127,020.what would be the inventory turnover at retail,rounded to the nearest tenth?

  59. Accounting

    Journal Entries Under the Perpetual Inventory System Bhushan Building Supplies entered into the following transactions.

  60. math

    a store recorded net sales of 423,400 for the year.the store's beginning inventory at retail was105,850 and it's ending inventory was127,020. what would be the inventory turnover at retailrounded to the nearest tenth? i have no idea what i am doing.

  61. business

    if you're developing a human resource inventory, you should exclude which of the following? a. names b. capabilities c. perpetual inventory d. education

  62. Math please check answer

    please check my answer thanks :) A Pet supply store recorded net sales of $423,400 for the year. The store's beginning inventory at retail was $105,850 and it's ending inventory at retial was $127,020. What would be the inventory turnover at retail,

  63. Accounting

    A company that uses the perpetual inventory system purchased $8,500 on September 25. Terms of the purchase were 2/10, n/30. The invoice was paid in full October 4. Prepare the journal entries to record these merchandise transactions.

  64. accounting

    sa traders who use the perpetual inventory system, purchased merchandise on the 1 feb 2011 form africa limited for 500. the purchase was subject to a cash discount of 5% if settled within 20 days and a trade discount of 25%

  65. accounting

    I NEED HELP; I'M LOST Trader sells 15 units for $25 each on December 15. Eight of the sold units are from the December 7 purchase and seven are from the December 14 purchase. Trader uses a perpetual inventory system. Determine the costs assigned to the

  66. accounting

    Trader sells 15 units for $25 each on December 15. Eight of the sold units are from the December 7 purchase and seven are from the December 14 purchase. Trader uses a perpetual inventory system. Determine the costs assigned to the December 31 ending

  67. accounting help

    Please help Tevin Trader starts a merchandising business on December 1 and enters into three inventory purchases. December 7 10 units @ $6 cost December 14 20 units @ $12 cost December 21 15 units @ $14 cost Trader sells 15 units for $25 each on December

  68. ACC305 Accounting for Decision Making

    Describe the complications that arise when LIFO or average cost is used with a perpetual inventory system. Use specific examples and references. The part that I am having trouble with is finding examples. I have the rest of the work done now I just need

  69. Macroeconomics: GDP

    John (who lives in "Statsyan"--nation) buys a new mini Cooper, which is assembled in England. What part of the GDP component(s) does this transaction belong to? I'm thinking it belongs to both the imports and consumption categories, but I'm not sure if it

  70. Math

    On January 31, a count of ending inventory was completed, and 7,200 units were on hand. Using the periodic inventory system, calculate the cost of goods sold and ending inventory using LIFO, FIFO, and weighted-average inventory methods.

  71. accounting

    a) Use the following data to compute averafe revenues per store, capital spending per new store, and ending inventory per store. b) Assume 200 additional stores will be added by the end of year +1 and assume that each new store will be pen for business for

  72. Math

    Imagine that you’re the manager of an auto parts store. Figure A-2 contains your records of annual inventory figures for windshield wipers. Using the FIFO method of inventory pricing, what is the dollar value of ending inventory if there were 300 units

  73. accounting

    The following are the transaction of s company will in branch for 2(two) year they follow periodic inventory system. 1. Beginning inventory balance with in birr 10000 2. S company shipped merchandise is birr costing 80000 cash 20000 3. Birr sold

  74. operations management

    A company requires 5,000 units of a product in a single year. It costs them $100 per order for expenses such as transportation and communication. If the product is carried in inventory, the carrying cost equals 1% of the price of the product for every

  75. Calculus

    A sporting goods store sells 100 pool tables per year. It costs $20 to store one pool table for a year, based on the average inventory on hand. It costs $40 for each delivery of pool tables. How many times per year and in what lot size should the store

  76. Calculus

    A sporting goods store sells 100 pool tables per year. It costs $20 to store one pool table for a year, based on the average inventory on hand. It costs $40 for each delivery of pool tables. How many times per year and in what lot size should the store

  77. Calculus- please help

    A sporting goods store sells 100 pool tables per year. It costs $20 to store one pool table for a year, based on the average inventory on hand. It costs $40 for each delivery of pool tables. How many times per year and in what lot size should the store

  78. College Statistics

    A random sample of greeting cards is a mean value of $2.55 and a standard deviation of $0.44 So construct a 95% confidence interval estimate of the mean value of all cards in the store's inventory. So if the 2500 cards in the inventory then how are the

  79. accounting

    Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances at September 1, 2011, purchases invoices during the next 12 months, and the inventory count at August 31, 2012, are summarized as follows

  80. Thara

    i. On February 27th, the company sold goods on account to CUSTOMER, $1,800. The goods had a cost of $900. Dungy uses a perpetual inventory system. ans--> A/R (debit) $1800 Sales (credit) $1800 Cost of Goods Sold (debit) $900 Merchandise Inventory (credit)

  81. accounting

    i. On February 27th, the company sold goods on account to CUSTOMER, $1,800. The goods had a cost of $900. Dungy uses a perpetual inventory system. ans--> A/R (debit) $1800 Sales (credit) $1800 Cost of Goods Sold (debit) $900 Merchandise Inventory (credit)

  82. Financial Accounting

    Brenda starts a merchanding business on December 1 and enters into three invfentory purchases: December 7 10 units @&6 cost December 14 20 units @12 cost December 21 15 units @ 14 cost Brenda sells 15 units for 25.00 each on Dec 15. Eight of the sold units

  83. accounting

    The president of Penman Corporation, John Burton, has asked you, the company's controller, to advise him on whether Penman should develop a just-in-time (JIT) inventory system.

  84. Computers

    Your sister owns a small clothing store. During a conversation at a family dinner, she mentions her frustration with having to manually track and reorder high demand items. She would like an automated system but has a very small budget. Write a 4-5 page

  85. CIS 210

    Your sister owns a small clothing store. During a conversation at a family dinner, she mentions her frustration with having to manually track and reorder high demand items. She would like an automated system but has a very small budget. Write a 4-5 page

  86. computers

    Your sister owns a small clothing store. During a conversation at a family dinner, she mentions her frustration with having to manually track and reorder high demand items. She would like an automated system but has a very small budget. Write a 4-5 page

  87. accounting

    A company uses a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. A perpetual inventory system is used. The following transactions were completed by the company during the current month of October:

  88. information technology

    Your sister owns a small clothing store. During a conversation at a family dinner, she mentions her frustration with having to manually track and reorder high demand items. She would like an automated system but has a very small budget. Write a 4-5 page

  89. math

    jasper owns a small retail store as a sole proprietor. the business records show that the cost of the stores inventory items has been steadily increasing. the cost of the end of the year inventory is 200,000 and the cost of the beginning of the year

  90. math

    jasper owns a small retail store as a sole proprietor. the business records show that the cost of the stores inventory items has been steadily increasing. the cost of the end of the year inventory is 200,000 and the cost of the beginning of the year

  91. accounting

    After filling out a perpetual inventory card using fifo i need to find out how to prepare a journal entry to record a sale of 60 units sold assuming i got 5.00 each for them? Confused

  92. accounting

    I am calculating inventory methods and wanted to see if anyone could double check my figures? See below weighted Average Date Transaction Units 1-Apr Purchase 250 Unit Cost Ext Cost 5-Apr Sold 10 $10.00 2500 10-Apr Sold 10 15-Apr Purchase 200 $15.00 3000

  93. Programming Logic

    Shemrock Inc. is a brake pad manufacturing company. This company uses raw materials, such as carbon powder, iron, ash, and resin. It wants to develop an inventory management system that will have the following features: 1.The system should store the

  94. Programming Logic

    Shemrock Inc. is a brake pad manufacturing company. This company uses raw materials, such as carbon powder, iron, ash, and resin. It wants to develop an inventory management system that will have the following features: 1.The system should store the

  95. research&writing

    Due Week 2 and worth 100 points Your sister owns a small clothing store. During a conversation at a family dinner, she mentions her frustration with having to manually track and reorder high demand items. She would like an automated system but has a very

  96. accounting

    A company that uses perpetual inventory system made the following cash purchases and sales: January 1 Purchased 100 units at $10 per unit. February 5: Purchased 60 units at $12 per unit. March 16: Sold 40 units for $16 per unit. Prepare general journal

  97. Math

    I have 2 questions involving inventory Question 1. Your a manager of an auto parts store.Figures below contains your records of the annual inventory figures for windshield wipers. Using the FIFO method of inventory pricing,hat is the dollor value of ending

  98. Computers

    Your sister owns a small clothing store. During a conversation at a family dinner, she mentions her frustration with having to manually track and reorder high demand items. She would like an automated system but has a very small budget. Write a 4-5 page

  99. Computers

    Your sister owns a small clothing store. During a conversation at a family dinner, she mentions her frustration with having to manually track and reorder high demand items. She would like an automated system but has a very small budget. Write a 4-5 page

  100. accounting

    Exercise 5-3 Analyzing and recording merchandise transactions-both buyer and seller LO P1, P2 Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $16,000 and credit terms of 3/10, n/60. The merchandise had cost Mesa

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