Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 408 Weeks Ago, 1 Day Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 15 Nov 2017 My Price 8.00

Ramsey Company

Determining the effect of inventory transactions on the horizontal statements model: perpetual system

Ramsey Company experienced the following events.

1. Purchased merchandise inventory on account.

2. Purchased merchandise inventory for cash.

3. Sold merchandise inventory on account. Label the revenue recognition 3a and the expense recognition 3b.

4. Returned merchandise purchased on account.

5. Sold merchandise inventory for cash. Label the revenue recognition 5a and the expense recognition 5b.

6. Paid cash on accounts payable within the discount period.

7. Paid cash for selling and administrative expenses.

8. Collected cash from accounts receivable not within the discount period.

9. Paid cash for transportation-out.

10. Paid cash for transportation-in.

Required

Identify each event as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Also explain how each event affects the financial statements by placing a 1 for increase, 2 for decrease, or NA for not affected under each of the components in the following statements model. Assume the company uses the perpetual inventory system. The first event is recorded as an example.

Event
No.

Event
Type

Assets

=

Liab.

+

Equity

Rev.

-

Exp.

=

Net Inc.

Cash Flow

1

AS

+

=

+

+

NA

NA

-

NA

=

NA

NA

 

Answers

Maurice Tutor
(5)
Status NEW Posted 15 Nov 2017 08:11 PM My Price 8.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.Pl-----------eas-----------e p-----------ing----------- me----------- on-----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be-----------

Not Rated(0)