JaCo uses the periodic method. Its begging inventory is $43,000, purchases are $321,000, FOB destination, purchase returns

Fantastic news! We've Found the answer you've been seeking!

Question:

JaCo uses the periodic method. Its begging inventory is $43,000, purchases are $321,000, FOB destination, purchase returns are $ 17,000,and freight is $ 9,000. The balance in JaCo's ledger Purchases account is ?

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0176509736

10th Canadian Edition, Volume 1

Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,

See More Books

Posted Date: Apr 05, 2024 02:39 AM

See More Questions

The following independent situations relate to inventory accounting: 1. Draper Co. purchased goods with a list price of $175,000 and a trade discount of 20% based on the quantity purchased, with...
Determine the minimum initial velocity to at which the ball must be kicked in order for it to just cross over the 3-m high fence Express your answer using three significant figures and include the...
Discuss the characteristics of an effective teamwork in an organization. QUESTION THREE Discuss the barriers to creativity and innovation in an organization.
The following is the documentation of the payroll cycle at McQuarrie Enterprises, a ladies clothing wholesaler. There are approximately 50 staff members at McQuarrie Enterprises. Every employee has a...
In Section 3.5.4, we discussed the doubling of the timeout interval after a timeout event. This mechanism is a form of congestion control. Why does TCP need a window-based congestion-control...
The temperature on the inside face of a glass window is 20.0 C while the outside temperature is 0.00 C. The window is 100 cm by 100 cm by 10.0 mm and has a thermal conductivity of 0.85 W/mK. How much...
Calculate NewWorlds price-earnings ratio, before and after the takeover described in Example 22.2.
(Multiple Choice) 1. What is the best source of income for a corporation? a. Prior-period adjustments b. Continuing operations c. Discontinued operations d. Extraordinary items 2. Leslies Lotion...
The Power of Trade and Comparative Advantage: Work It Out 3 ? Here's another specialization and exchange problem. This problem is wholly made-up, ? so that you won't be able to use your intuition...
Consider a scenario in which state colleges must actively recruit students. California Sci has $750,000 in assets available. Its Board of Regents has to consider several options. The board may decide...
The following is the Trial Balance of Kamal Enterprises for the year ended 31s" December, 2019. You are required to prepare a Profit and Loss account and Balance Sheet after taking into account the...
What is the difference between a non-variable interest and a variable interest?
In Problems 23-26, suppose that people's heights (in centimeters) are normally distributed, with a mean of 170 and a standard deviation of 5. We find the heights of 50 people. What is the variance in...
Let $Q_{1}, Q_{2}$, and $Q_{3}$ be the quartiles for a large population of scores. Is the following always, sometimes, or never true (explain your reasoning)? \[Q_{2}-Q_{1}=Q_{3}-Q_{2}\]
A normal distribution has a mean of 85.7 and a standard deviation of 4.85. Find data values corresponding to the values of z given in Problems 42-45. $z=-1.25 $
Nonprobability sampling assumes that some elements of the population have no chance of selection or the probability of selection can't be accurately determined. Some types of nonprobability sampling...
Explain why communication skills are crucial for success in the workplace. Support your argument with examples.
Perform the operation by first converting the numerator and denominator to scientific notation. Write the answer in scientific notation. 7,200,00/0.000009
Ram Lakhan Company Ltd. produces one unit of product B by using one unit of raw material A. During 200506 A costed the company 4,200. Conversion cost was 850. As on 31st March 2006, being the...
Usha Corporation Ltd. sought the advice of an investment advisor for deployment of surplus funds of around Rs. 45 lakh in the stock market. The advisor advised to invest in Bhonsle India Ltd. and...
Bharti Investments Ltd. holds 8000 shares of Phonetel Corporation Ltd. It acquires 7000 shares of Subharti Ltd. from Idea Investments Ltd. in exchange for these shares. Determine the cost of shares...

JaCo uses the periodic method. Its begging inventory is $43,000, purchases are $321,000, FOB destination, purchase returns

Question:

Expert Answer:

To find the balance in JaCos ledger Purchases account using the perio... View the full answer

Intermediate Accounting

Students also viewed these accounting questions