10 Items or Less
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IMDB rating: 6.60 Plot: A well-known actor, who hasn’t accepted a role in four years, is considering a project. The cousin of the director drives him to Archie’s Ranch Market, in Carson, and drops him off to do a little research. He’s fascinated by one of the checkers, Scarlet, a young woman from Spain with a preternatural ability to ring up items at the cash register. She hates her job, stuck at the 10 items or less lane. The actor chats her up, and when her shift ends, he asks for a ride. In the course of the afternoon, he helps her prepare for a job interview. She needs to have confidence, he needs to commit. Human contact, however brief, can change people. |
i find 10 Items or Less DivX version and buy
Available versions:
DivX Version (Normal Quality), iPod/iPhone Version
Actors: Freeman Morgan,Hill Jonah,Cannavale Bobby,Nam Leonardo,Norris Scott,Pallana Kumar,Parsons Jim,Ruiz Hector Atreyu,Torres Emiliano,Calizo Shawn,Comedy,Drama,Romance,
How do you do this journal entry?
A company had the following transactions during December:
a. Sold merchandise on credit for $5,000, terms 3/10, n/30. The items sold had a cost of $3,500.
b. Purchased merchandise for cash, $720.
c. Purchased merchandise on credit for $2,600, terms 1/20, n/30.
d. Issued a credit memorandum for $300 to a customer who returned merchandise purchased November 29. The returned items had a cost of $210.
e. Received payment for merchandise sold December 1.
f. Received a credit memorandum for the return of faulty merchandise purchased on December 4 for $600.
g. Paid freight charges of $200 for merchandise ordered last month. (FOB shipping point).
h. Paid for the merchandise purchased December 4 less the portion that was returned.
i. Sold merchandise on credit for $7,000, terms 2/10, n/30. The items had a cost of $4,900.
j. Received payment for merchandise sold on December 24.
Required:
Prepare the general journal entries to record these transactions using a perpetual inventory system (meaning entries are booked directly to the COGS and Inventory accounts). (Record all purchases initially at the gross invoice amount.)
a. Sold merchandise on credit for $5,000, terms 3/10, n/30. The items sold had a cost of $3,500.
(A+) Dr Accounts Receivable 5000
(R+, OE+) Cr Revenue5000
(E+, OE-) Dr Cost of Goods Sold 3500
(A-) Cr Merchandise Inventory3500
b. Purchased merchandise for cash, $720.
(A+) Dr Inventory 720
(A-) Cr Cash 720
c. Purchased merchandise on credit for $2,600, terms 1/20, n/30.
(A+) Dr Inventory 2600
(L+) Cr Accounts Payable 2600
d. Issued a credit memorandum for $300 to a customer who returned merchandise purchased November 29. The returned items had a cost of $210.
(XR+, R-) Dr Allowances for sales return 300
(A-) Cr Accounts Receivable 300
(A+) Dr Inventory 210
(E-, OE+) Cr Cost of Goods Sold 210
e. Received payment for merchandise sold December 1.
(A+) Dr Cash 4850
(XR+, R-) Dr Cash Discount 150
(A-) Cr Accounts Receivable 5000
f. Received a credit memorandum for the return of faulty merchandise purchased on December 4 for $600.
(A+) Dr Cash 600
(A-) Cr Inventory 600
g. Paid freight charges of $200 for merchandise ordered last month. (FOB shipping point).
(A+) Dr Inventory 200
(A-) Cr Cash 200
h. Paid for the merchandise purchased December 4 less the portion that was returned.
i. Sold merchandise on credit for $7,000, terms 2/10, n/30. The items had a cost of $4,900.
(A+) Dr Accounts Receivable 7000
(R+, OE+) Cr Revenue 7000
(E+, OE-) Dr Cost of Goods Sold 4900
(A-) Cr Inventory 4900
j. Received payment for merchandise sold on December 24.
(A+) Dr Cash 6,860
(XR+, R-) Dr Cash Discount 140
(A-) Cr Accounts Receivable 7000
Required:
Prepare the general journal entries to record these transactions using a perpetual inventory system (meaning entries are booked directly to the COGS and Inventory accounts). (Record all purchases initially at the gross invoice amount.)
TP | Nov 16, 2009
any suggestions?