Assume that on September 1 , Office Depot had an inventory that included a variety of calculators.
Question:
Assume that on September Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.
Sept. Purchased calculators from Dragoo Co at a total cost of $ on account, terms n
Paid freight of $ on calculators purchased from Dragoo Co
Returned calculators to Dragoo Co for $ credit because they did not meet specifications.
Sold calculators costing $ for $ to Fryer Book Store, on account, terms n
Granted credit of $ to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $
Sold calculators costing $ for $ to Heasley Card Shop, on account, terms n
Prepare a tabular summary to record the transactions for the month of September for Office Depot using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. Enter negative amounts using either a negative sign preceding the number eg or parentheses eg
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso