Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. consider the following transactions for bigguy tay

Consider the following transactions for BigGuy Tays: O (Click the icon to view the transactions.)...

50.1K

Verified Solution

Question

Accounting

image
Consider the following transactions for BigGuy Tays: O (Click the icon to view the transactions.) Sept. 7 BigGuy Toys buys $115,300 worth of ConnectABlock toys on account with oredit terms of 2/10, n/60. 13 BigGuy Toys retums $11,450 of the merchandise to ConnectABlock due to damage during shipment. 15 BigGuy Tays paid the amount due, less the retum and discount. Requirements Jounalize the purchase transactions. Explanations are not required. 1. In the final analysis, how much did the inventory cost BigGuy Toys? 2. Sept. 15: BigGuy Toys paid the amount due, less the retum and discount Date Accounts Debit Credit Done Print Accounts Payable 103,850 Sept. 15 Cash Merchandise Inventory

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Why can closed-end funds sell at prices that differ from net value while open-end funds do not?...

Finance
Q

7 Part A What is the name of the division of cytosol and organelles as...

Biology
Q

State whether the graph of f(x)= x+7x + 10x / x +5 has infinite discontinuity,...

Basic Math
Q

v and w c state whether the vectors are parallel orthogonal or neither v 8i...

Algebra
Q

A university has one fie...

Accounting
Q

The Night Owl Bar sold 200 of the brand Canadian Club (CC) Whisky last month...

Accounting
Q

All favorable variances are good and all unfavorable variances are bad. Write a brief paragraph...

Accounting
Q

E10-16 (Asset Acquisition) Hayes Industries purchased the following assets and constructed a building as well....

Accounting
Q

Assignment Structure Students are asked to write a strategic marketing plan for an organisations new...

Accounting
Q

Ziegler Inc. has decided to use the high-low method to estimate the total cost and...

Accounting
Q

22 The Constance Corporation's inventory at December 31, 2021, was $128,000 (at cost) based on...

Accounting
Q

While at the Telstra shop, purchasing the iPhone X, the salesperson offers you two new...

Finance