Jones manufacturing purchased $10,000 of merchandise inventory on account from a vendor and paid a $500 freight bill. the credit terms are 2/10 or n/30. because some of the merchandise was not needed, jones manufacturing returned $2,000 the same day. jones manufacturing uses the perpetual inventory system and made payment for the merchandise, less the return, within the discount period.
what is the final cost of the merchandise inventory for jones manufacturing from this purchase? a. $8,000b. $8,340c. $7,840d. $10,094

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.

Perez, inc., applies the equity method for its 25 percent investment in senior, inc. during 2018, perez sold goods with a 40 percent gross profit to senior, which sold all of these goods in 2018. how should perez report the effect of the intra-entity sale on its 2018 income statement?

What is a uniform law adopted by all states that facilitates business transactions?