Business, 11.02.2021 21:30 dylannsquats

Cozelle, Inc., purchased inventory costing $125,000 and sold 80% of the goods for $200,000. All purchases and sales were on account. Cozelle later collected 25% of the accounts receivable. Assume that sales retums are nonexistent. a. Journalize these transactions for Cozelle, which uses the perpetual inventory system
b. For these transactions, show what Cozelle will report for inventory, revenues, and expenses on its financial statements at the end of the month.

Required:
For theseâ transactions, show what will report forâ inventory, revenues, and expenses on its financial statements at the end of the month.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 20:20

If the government is required to balance the budget and the economy falls into a recession, which of the actions is a feasible policy response? cut taxes to encourage consumer spending invest in infrastructure increase government spending to stimulate the economy cut spending equal to the reduction in tax revenue what is a likely consequence of this policy? unemployment falls due to the economic stimulus. the negative consequences of the recession are magnified. consumer spending increases due to their ability to keep more of their after-tax income. there is hyperinflation due to an increase in aggregate demand.

Answers: 3

Answer

Business, 21.06.2019 21:00

Arriving and delivering a load of company executives for a business meeting at a destination far from home base requiring an overnight stay, a company’s pilot requested approval from the company finance office to pay to either have the company’s jet brought into the fbo's hangar overnight to protect it from a forecast snowfall or to have it de-iced by the fbo the following morning well-before scheduled departure. the company was under considerable financial pressure at the time, and the pilot’s requests were denied because of the cost. so, early the following morning, the pilot was up on the wing of the jet sweeping off an accumulation of snow and ice with a borrowed push broom in preparation for the scheduled departure with the executives, but slipped and fell to the ground, suffering a broken neck. the business was organized as a limited partnership, owned by 3 limited partners and one general partner. as a cost-saving measure, the company had dropped its workers’ compensation insurance before the accident. analyze the potential liability for the pilot’s injuries of each of the following, showing your reasoning clearly: the company the general partner the limited partners analyze how the outcome would have been different, if the business had been organized as a corporation and observed all of the formalities to legitimize its corporate status. analyze how the outcome would have been different, if the pilot had been covered by workers’ compensation insurance.

Answers: 3

Answer

Business, 22.06.2019 01:30

Standardization is associated with which of the following management orientations? a) ethnocentric orientation b) polycentric orientation c) regiocentric orientation d) geocentric orientation

Answers: 1

Answer

Business, 22.06.2019 09:30

What are two benefits of consumer programs

Answers: 2

Answer

You know the right answer?

Cozelle, Inc., purchased inventory costing $125,000 and sold 80% of the goods for $200,000. All purc...

Questions