You have new items in your feed. Click to view.
Question and answer
Jack Penny Company identifies the following items for possible inclusion in the physical inventory. Indicate whether each item should be included or excluded from the inventory taking. (a) Goods
shipped on consignment by Penny to another company. (b) Goods in transit from a supplier shipped FOB destination. = included (c) Goods sold but being held for customer pickup. (d) Goods held on consignment from another company. = excluded
Where are the items?
Get an answer
Original conversation
User: Jack Penny Company identifies the following items for possible inclusion in the physical inventory. Indicate whether each item should be included or excluded from the inventory taking. (a) Goods shipped on consignment by Penny to another company. (b) Goods in transit from a supplier shipped FOB destination. = included (c) Goods sold but being held for customer pickup. (d) Goods held on consignment from another company. = excluded

Weegy: Where are the items?
jameshand|Points 1879|

User: Presented here are the components in Pedersen Company’s income statement. Determine the missing amounts. Cost of Gross Operating Net Sales Goods Sold Profit Expenses Income $ 71,200 (b) $ 30,000 (d) $10,800 $108,000 $70,000 (c) (e) $29,500 (a) $71,900 $109,600 $46,200 (f)





Weegy: (a) Cost of Goods Sold 47,730 (78,230 - 30,500) Operating Expenses 12,690 (30,500 - 17,810) (b) Gross Profit 38,800 (111,050 - 72,250) Operating Expenses 14,710 (38,800 - 24,090) (c) Sales 157,280 (73,610 + 83,670) Net Income 34,660 (83,670 - [ 49,010) ]
Expert answered|thewolf010|Points 720|

User: Prepare the journal entries to record the following transactions on Ramirez Company’s books using a perpetual inventory system. (a) On March 2 Ramirez Company sold $800,000 of merchandise to Ikerd Company, terms 2/10, n/30. The cost of the merchandise sold was $540,000. (b) On March 6 Ikerd Company returned $110,000 of the merchandise purchased on March 2. The cost of the merchandise returned was $75,000. (c) On March 12 Ramirez Company received the balance due from Ikerd Company.

Question
Asked 5/19/2012 4:51:33 PM
0 Answers/Comments
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
Carino pays no costs in March, $2,500 in April, and $2,000 in May (incurred in April). How much expense should the firm deduct from revenues in the month when it recognizes the revenue? Why?
Weegy: Business will incur a loss when expenses are higher than revenue. (More)
Question
Expert Answered
Asked 5/14/2012 2:39:14 AM
0 Answers/Comments
Carino pays no costs in March, $2,500 in April, and $2,000 in May (incurred in April). How much expense should the firm deduct from revenues in the month when it recognizes the revenue? Why?
Weegy: Business will incur a loss when expenses are higher than revenue. User: Selected accounts of Callahan Company are shown here. Supplies Expense July 31 750 Salaries Payable July 31 1,200 Salaries Expense July 15 1,200 31 1,200 Service Revenue July 14 4,100 31 900 31 500 Supplies July 1 Bal. 1,100 July 31 750 10 200 Accounts Receivable July 31 500 Unearned Service Revenue July 31 900 July 1 Bal. 1,500 20 600 Instructions After analyzing the accounts, journalize (a) the July transactions and (b) the adjusting entries that were made on July 31. (Hint: July transactions were for cash.) Weegy: Cliffsnotes defined Unearned revenues are payments for future services to be performed or goods to be delivered. [ Advance customer payments for newspaper subscriptions or extended warranties are unearned revenues at the time of sale.At the end of each accounting period, adjusting entries must be made to recognize the portion of unearned revenues that have been earned during the period. SOURCE: ] (More)
Question
Expert Answered
Asked 5/14/2012 4:05:03 PM
0 Answers/Comments
25,930,824 questions answered
Popular Conversations
At the time of the Glorious Revolution and the writing of the English ...
Weegy: If you would be so kind as to finish your question, I'd be happy to assist you.
8/23/2016 9:33:05 PM| 3 Answers
If you visit the Senate chamber during a session on an average day, ...
Weegy: Teamwork is a joint action by two or more people or a group, [ in which each person contributes with different ...
8/23/2016 8:40:25 AM| 2 Answers
is the study of the environment that includes the physical, ...
Weegy: biological science - the science that studies living organisms. User: is the study of how living ...
8/23/2016 7:32:16 PM| 2 Answers
Which of the following economic systems theoretically has the most ...
Weegy: Capitalist has the most limited government interference. User: Complete this list of the factors of ...
8/24/2016 6:43:12 AM| 2 Answers
Weegy Stuff
S
Points 610 [Total 681] Ratings 4 Comments 570 Invitations 0 Online
S
1
L
Points 422 [Total 1256] Ratings 2 Comments 402 Invitations 0 Offline
S
L
P
P
P
P
Points 407 [Total 3662] Ratings 0 Comments 407 Invitations 0 Offline
S
Points 106 [Total 106] Ratings 0 Comments 106 Invitations 0 Offline
S
L
P
P
P
Points 46 [Total 3862] Ratings 0 Comments 46 Invitations 0 Offline
S
Points 40 [Total 45] Ratings 0 Comments 0 Invitations 4 Offline
S
Points 27 [Total 254] Ratings 0 Comments 27 Invitations 0 Offline
S
Points 13 [Total 13] Ratings 0 Comments 3 Invitations 1 Offline
S
L
C
Points 11 [Total 4491] Ratings 1 Comments 1 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.