Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 20 Jan 2018 My Price 6.00

Analysis of Unfamiliar Transactions

Analysis of Unfamiliar Transactions

e8A. Managers and accountants often encounter transactions with which they are unfa- miliar. Use your analytical skills to analyze and prepare journal entries for the following transactions, which have not yet been discussed in the text.

 

May   1   Purchased merchandise inventory on account,  $1,200.

 

2        Purchased marketable securities for cash, $2,800.

 

3        Returned part of merchandise inventory purchased for full credit, $250.

 

4        Sold merchandise inventory on account, $800 (record sale only).

 

5        Purchased land and a building for $300,000. Payment is $60,000 cash, and there is a 30-year mortgage for the remainder. The purchase price is allocated as follows: $100,000 to the land and $200,000 to the building.

 

6        Received an order for $12,000 in services to be provided. With the order was a deposit of $4,000.

 

 


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Maurice Tutor
(5)
Status NEW Posted 20 Jan 2018 11:01 PM My Price 6.00

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