Business, 21.05.2020 06:01 kingsqueen883

The following transactions of Houston Pharmacies occurred during 2017 and 2018:

2017
Jan. 9 Purchased computer equipment at a cost of $ 9,000, signing a six-month, 7%
note payable for that amount.
29 Recorded the week's sales of $ 69,000, three-fourths on credit and one-fourth
for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of
goods sold.
Feb. 5 Sent the last week's sales tax to the state.
Jul. 9 Paid the six-month, 7% note, plus interest, at maturity.
Aug. 31 Purchased merchandise inventory for $ 3,000, signing a six-month, 11% note
payable. The company uses the perpetual inventory system.
Dec. 31 Accrued warranty expense, which is estimated at 3% of sales of $ 601,000.
31 Accrued interest on all outstanding notes payable.
2018
Feb. 28 Paid the six-month 11% note, plus interest, at maturity.

Journalize the transactions in Houston’s general journal. Explanations are not required.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 21:00

Resources and capabilities, such as interpersonal relations among managers and a firm's culture, that may be costly to imitate because they are beyond the ability of firms to systematically manage and influence are referred to asanswers: socially complex.causally ambiguous.path dependent.the result of unique historical conditions.

Answers: 3

Answer

Business, 22.06.2019 01:50

Which statement below best describes george waring's approach to solving the problems of water-borne illness? a. waring is going with his "gut," because he believes that instincts and emotions are the best guides for action. b. waring efficiently and thoroughly lays out the case for why the problems are too large and overwhelming to be solved: people should just move out of cities back to their farms. c. waring has gathered the testimonies of people who live in densely populated areas in order to learn how they themselves have solved their problems. d. waring exhibits the industrial age's increased respect for and reliance on science and the scientific method.

Answers: 1

Answer

Business, 22.06.2019 14:20

Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?

Answers: 1

Answer

Business, 22.06.2019 15:20

Garfield corporation is considering building a new plant in canada. it predicts sales at the new plant to be 50,000 units at $5.00/unit. below is a listing of estimated expenses. category total annual expenses % of annual expense that are fixed materials $50,000 10% labor $90,000 20% overhead $40,000 30% marketing/admin $20,000 50% a canadian firm was contracted to sell the product and will receive a commission of 10% of the sales price. no u.s. home office expenses will be allocated to the new facility. the contribution margin ratio for garfield corporation is

Answers: 2

Answer

You know the right answer?

The following transactions of Houston Pharmacies occurred during 2017 and 2018:

2017

Questions