Accounting problems

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evpboynp

Business Finance

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Need accounting problems done. had to post the 6 problems seperate since i'm working off my cell phone.

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d Question 1 (9 points) a Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used. > Alpha Company purchased on account $2,600 of merchandise from Bravo Company on May 2, 2016. > Alpha Company returned, to Bravo Company, $300 of this merchandise on May 3, 2016. > Freight charges related to this transaction of $150 were paid by Bravo Company. Use this information to prepare Alpha Company's compound General Journal entry (without explanation) for the payment for merchandise on May 12. If no entry is required then write "No Entry Required." Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used. > Alpha Company purchased on account $2,550 of merchandise from Bravo Company on May 2, 2016. > Alpha Company returned, to Bravo Company, $200 of this merchandise on May 3, 2016. > Freight charges related to this transaction of $150 were paid by Bravo Company. Use this information to prepare Alpha Company's General Journal entries (without explanation) for May 2 & May 3 entries. If no entry is required then write "No Entry Required." Format B I U . General Journal: Date Accounts Debit Credit Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used. > Alpha Company sold on account $2,500 of merchandise to Bravo Company on May 2, 2016. Selling price was $4,000 > Bravo Company returned, to Alpha Company, $250 of this merchandise on May 3, 2016. Merchandise was sold for $400 > Freight charges related to this transaction of $150 were paid by Alpha Company. Use this information to prepare Alpha Company's compound General Journal entry (without explanation) for the payment for merchandise on May 12. If no entry is required then write "No Entry Required." Format BI U General Journal: Date Accounts Debit Credit A FO RX Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used. > Alpha Company sold on account $2,500 of merchandise to Bravo Company on May 2, 2016. Selling price was $4,000 > Bravo Company returned, to Alpha Company, $250 of this merchandise on May 3, 2016. Merchandise was sold for $400 > Freight charges related to this transaction of $150 were paid by Alpha Company. Use this information to prepare Alpha Company's General Journal entry (without explanation) for the payment for merchandise on May 15. If no entry is required then write "No Entry Required." Format B I U General Journal: Date Debit Credit Accounts > Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the net method is used. > Alpha Company purchased on account $2,700 of merchandise from Bravo Company on May 2, 2016. > Alpha Company returned, to Bravo Company, $300 of this merchandise on May 3, 2016. > Freight charges related to this transaction of $150 were paid by Bravo Company. Use this information to prepare Alpha Company's General Journal entries (without explanation) for May 2 & May 3 entries. If no entry is required then write "No Entry Required." Format Β Ι Ο General Journal: Accounts Debit Date Credit RX
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