DS Unlimited has the following transactions during August. August 6 Purchases 88 handheld game devices on...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
DS Unlimited has the following transactions during August. August 6 Purchases 88 handheld game devices on account from GameGirl, Inc., for $290 each, terms 1/10, n/60. August 7 Pays $490 to Sure Shipping for freight charges associated with the August 6 purchase. August 10 Returns to GameGirl eight game devices that were defective. August 14 Pays the full amount due to GameGirl. August 23 Sells 68 game devices purchased on August 6 for $310 each to customers on account. The total cost of the 68 game devices sold is $19,939.30. Required: . Record the transactions of DS Unlimited, assuming the company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) DS Unlimited has the following transactions during August. August 6 Purchases 88 handheld game devices on account from GameGirl, Inc., for $290 each, terms 1/10, n/60. August 7 Pays $490 to Sure Shipping for freight charges associated with the August 6 purchase. August 10 Returns to GameGirl eight game devices that were defective. August 14 Pays the full amount due to GameGirl. August 23 Sells 68 game devices purchased on August 6 for $310 each to customers on account. The total cost of the 68 game devices sold is $19,939.30. Required: . Record the transactions of DS Unlimited, assuming the company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Expert Answer:
Answer rating: 100% (QA)
Inventory 255220 debit Account Payable 25520 credit to record purchase from ... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0077862268
2nd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
Students also viewed these accounting questions
-
DS Unlimited has the following transactions during August. August 6 Purchases 50 handheld game devices on account from Game Girl, Inc., for $100 each, terms 1/10, n/60. August 7 Pays $300 to Sure...
-
DS Unlimited has the following transactions during August. August 6 Purchases 70 handheld game devices on account from GameGirl, Inc., for $200 each, terms 1/10, n/60. August 7 Pays $400 to Sure...
-
DS Unlimited has the following transactions during August. August 6 Purchases 85 hand-held game devices on account from GameGirl, Inc. for $80 each, terms 5/10, n/60. August 7 Pays $200 to Sure...
-
According to a study by the American Pet Food Dealers Association, 63% of U.S. house-holds own pets. A report is being prepared for an editorial in the San Francisco Chronicle. As a part of the...
-
The following facts pertain to a noncancelable lease agreement between Earth Leasing Corporation and New Moon Company, a lessee. Inception date October 1, 2014 Annual lease payment due at the...
-
Baxter Company began operations in 2009 and was profitable through 2012, during which time the tax rate was 30%. At the end of 2013, Baxter reported a pretax operating loss of $135,000 for both...
-
Indicate whether each of the following items, a through \(g\), would be considered a (1) a strategic alliance or (2) another form of an agreement between two parties. a. Agreement between a...
-
The estimated times (in weeks) and immediate predecessors for the activities in a project are given in the following table. Assume that the activity times are independent. (a) Calculate the expected...
-
Developing pricing strategies for is one of the most challenging tasks a manager can undertake. new products quantity discounts seasonal rebate items cost-based pricing E zone pricing products
-
Richard Gray presented his resignation letter to his manager on 11 June 2018. Information extracted from his employment contract states that he started working for Debt Administration Pty Ltd on 13...
-
Hi Teachers, Please help me with the below maths questions, Q1) . A comparison of five major credit cards showed that: 3 offered cash advances. 3 offered extended payments for all goods and services...
-
A consumer's behavior is described by the equation Y, C+ S, where Y, C, and S, stand respectively for his income, consumption and saving at the time period t. We assume that S =Y+1+7173 and CY, at...
-
The magnitudes of the four displacement vectors shown in the drawing are A = 18.0 m, B = 10.0 m, C = 11.0 m, and D = 30.0 m. Determine the (a) magnitude and (b) direction for the resultant that...
-
Your Task: Our objective is to construct classifiers that can precisely identify hospitals with ratings below the U.S. average. After thoroughly examining the data and eliminating missing values as...
-
A young couple purchases their first new home in 2002 for $105,000. They sell it to move into a bigger home in 2014 for $150,000. 1. First, we will develop an exponential model for the value of the...
-
A differential equation and a nontrivial solution f are given below. Find a second linearly independent solution using reduction of order. Assume that all constants of integration are zero. tx"...
-
Hungry customers show up at a food truck at a rate of 75 per hour. The food truck has 2 people working to take orders and make the food. On average it takes one minute and fifteen seconds to serve...
-
Explain the Hawthorne effect.
-
Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $60,000 for $55,736 on January 1, 2012. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid...
-
Refer to the information in BE6-9, but now assume that Shankar uses a periodic system to record inventory transactions. Record transactions for the purchase and sale of inventory. In BE-9 The company...
-
The following selected transactions relate to liabilities of Rocky Mountain Adventures. Rocky Mountain's fiscal year ends on December 31. January 13 Negotiate a revolving credit agreement with First...
-
A directed graph has the adjacency matrix below. Use the Breadth First Tree function to find a directed spanning tree. Determine the root using the Descendants function....
-
Repeat Exercise 16 for the graph whose adjacency matrix is above. The root vertex is 7 .
-
Prove or disprove. A directed graph is a tree if and only if it is connected and has no directed cycles.
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App