The company paid the monthly rent

Purchase-related transactions The following selected transactions were completed by Epic Co. during August of the curr ent year: Aug. 3. Purchased merchandise on account for $33400, terms FOB destination. 2/10. n/30. 9. Issued debit memorandum for $2500 ($2450 net of 2% discount) for merchandise from the August 3 purchase that was damaged in shipment. 10. Purchased merchandise on account, $25,000, terms FOB shipping point, n/com. Paid $600 cash to the freight company for delivery of the merchandise. 13. Paid for invoice of August 3, less debit memorandum of August 9 31. Paid for invoice of August 10. Instructions Illustrate the effects of each of the preceding transactions on the accounts and financial statements of Epic Co. Identify each transaction by date.

Rescue Sequences LLC purchased inventory by issuing a 30,000, 10%, 60-day note on October 1. Prepare the journal entries for Rescue Sequences to record the purchase and payment assuming it uses a perpetual inventory system and a 360-day calendar fiscal year. Rescue Sequences LLC uses a perpetual inventory system.

Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following transactions: a. Made credit sales of $825,000. The cost of the merchandise sold was $560,000. b. Collected accounts receivable in the amount of $752,600. c. Purchased goods on credit in the amount of $574,300. d. Paid accounts payable in the amount of $536,200. Required: Prepare the journal entries necessary to record the transactions. Indicate whether each transaction increased cash, decreased cash, or had no effect on cash.

Sunland Company purchased merchandise inventory with an invoice price of $11500 and credit terms of 2/10, n/30. What is the net cost of the goods if Sunland Company pays within the discount period? a.) $10350 b.) $11270 c.) $11500 d.) $10580

Bisson Corp unes a perpetual inventory system. The company had the following inventory transactions in Apr Purchased merchandise from Groupe Lad for $28.560, terma n/30 Fl shipping point The appropriate company paid freight costs of $714 on the merchandine purchased on April 3 7 Purchased supplies on account for $5.100 Apr 3 30 1. 2 3 Returned merchandise to Grouper and received a credit of $3.570 The merchandise was returned to inventory for future rese Paid the amount due to Grouperin ful Additional information: The cost of the merchandise sold on Aprit 3 was $19.380. Grouper expected a return rate of 15% The cost of the merchandise returned on April was $2.346 Grouper uses a perpetual inventory system Record the transactions in the books of Grouper Lht all debit entries before credit entries. Cet account des ant automatically indented when the amount is entered De not indent manually if ne entry is requirest, select "No Entry for the account titles and enter Ofor the amounts econd…

You are given the following transactions for an entity that uses the periodic inventory system: Transaction Details of 1 Credit sales for the week, R30 705(VAT inclusive). 2 3 Electronic funds transfer (EFT) payment received from of R3 540 Green Wholesalers in full settlement of account. Settlement discount granted R690. Bought equipment for cash from Capital Equip for R23 000(VAT inclusive). Instructions: For each transaction, you must indicate which subsidiary journal the transaction will be entered. ■You must then indicate whether the VAT Input account or the VAT Output account in the general ledger must be debited or credited. You must then calculate the VAT amount and enter it in the amount column. Transaction Subsidiary journal General ledger account Amount 1 3

Hi,   please answer the attached question    BR,

Marigold Company purchased merchandise inventory with an invoice price of $6000 and credit terms of 2/10, n/30. What is the net cost of the goods if Marigold Company pays within the discount period? $5880 $6000 $5520 $5400

Purchase-Related Transactions Journalize entries for the following related transactions of Manville Heating & Air Company: a.  Purchased $48,000 of merchandise from Wright Co. on account, terms 2/10, n/30.   Merchandise Inventory  fill in the blank 13255f0bbfa806d_2     Accounts Payable-Wright Co.    fill in the blank 13255f0bbfa806d_4 b.  Paid the amount owed on the invoice within the discount period.   Accounts Payable-Wright Co.  fill in the blank 287657090fdcf92_2     Cash    fill in the blank 287657090fdcf92_4 c.  Discovered that $9,600 of the merchandise purchased in (a) was defective and returned items, receiving credit.   Accounts Payable-Wright Co.  fill in the blank bebb1cfe102e03e_2     Merchandise Inventory    fill in the blank bebb1cfe102e03e_4 d.  Purchased $7,600 of merchandise from Wright Co. on account, terms n/30.   Merchandise Inventory  fill in the blank 2d88fb0c1027f88_2     Accounts…