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
25,797,271 questions answered
Popular Conversations
(3xy - 1) (4xy + 2)
Weegy: (3xy - 1) (4xy + 2) = 12x^2y^2 + 6xy - 4xy - 2 = 12x^2y^2 + 2xy - 2 User: (2x - 3y)(4x - y) Weegy: (2x ...
7/27/2016 2:50:11 PM| 5 Answers
Find the sum of (5x3 + 3x2 - 5x + 4) and (8x3 -5x2 + 8x + 9).
Weegy: (5x3 + 3x2 - 5x + 4) + (8x3 -5x2 + 8x + 9) = 13x^3 2x^2 + 3x + 13 User: Simplify 8 - (-5) - 4(-7). User: ...
7/27/2016 3:23:41 PM| 3 Answers
Why is Nurse so upset? She thinks Juliet should marry Paris. She ...
Weegy: "[N]ow art thou what thou art, by art as well as by nature: for this drivelling love is like a great natural, ...
7/27/2016 6:31:00 AM| 2 Answers
(3xy - 1) (4xy + 2)
Weegy: (3xy - 1) (4xy + 2) = 12x^2y^2 + 6xy - 4xy - 2 = 12x^2y^2 + 2xy - 2 User: [4 - (3c - 1)][6 ...
7/27/2016 2:40:02 PM| 2 Answers
The term Learners with Continuous Partial Attention is applied ...
Weegy: "Learners with Continuous Partial Attention" refers to students who frequently multitask during learning ...
7/27/2016 2:47:48 PM| 2 Answers
Where were the first magazines ...
7/27/2016 12:21:53 AM| 1 Answers
Weegy Stuff
S
P
L
Points 591 [Total 1341] Ratings 2 Comments 571 Invitations 0 Offline
S
L
P
P
P
Points 327 [Total 3075] Ratings 0 Comments 327 Invitations 0 Offline
S
Points 317 [Total 738] Ratings 2 Comments 297 Invitations 0 Offline
S
P
Points 303 [Total 562] Ratings 1 Comments 293 Invitations 0 Offline
S
Points 88 [Total 227] Ratings 0 Comments 88 Invitations 0 Offline
S
L
P
P
P
Points 83 [Total 3787] Ratings 0 Comments 83 Invitations 0 Offline
S
Points 21 [Total 71] Ratings 2 Comments 1 Invitations 0 Offline
S
1
L
L
P
R
P
L
P
P
R
Points 8 [Total 12606] Ratings 0 Comments 8 Invitations 0 Offline
S
Points 5 [Total 5] Ratings 0 Comments 5 Invitations 0 Offline
S
L
Points 3 [Total 1766] Ratings 0 Comments 3 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.