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- Record the following transactions in general journal form for Ford Education Outfitters and Romero Textbooks, Inc. Ford Educational Outfitters bought merchandise on account from Romero Textbooks, Inc., invoice no. 10594, $1,868.82; terms net 30 days; FOB destination. Romero Textbooks, Inc., paid $94.73 for shipping. Ford Education Outfitters received credit memo no. 513A from Romero Textbooks, Inc., for merchandise returned, $148.68. Required: 1. For Ford Education Outfitters. Round your answers to the nearest cent. PLEASE SEE ATTACHED IMAGESMary, a keen pottery collector, saw a notice in the Daily News for an auction at James Pottery Limited on September 30th 2022. She traveled 300 kilometers to attend the auction in order to bid for a particularly rare item the “Mozart Pottery”, specifically mentioned in the list of items to be auctioned. However, when she got to the auction site, she found a notice stating that the auction had been canceled. Mary thereafter proceeded to a nearby antique shop and saw on display in the window, the identical “Mozart Pottery” priced at $10,000. Mary told the shop owner, Anthony, that she was only willing to pay $8,000 for it. However, Anthony indicated that he is willing to sell the pottery for $9,500. Mary then indicated to him that she desires some time to think it over and after lunch she will advise him. Anthony subsequently, agreed not to sell the identified pottery, until she return after lunch. However, Anthony forgot his promised to Mary and sold it to John for $9,500 before…Mary, a keen pottery collector, saw a notice in the Daily News for an auction at James Pottery Limited on September 30th 2022. She traveled 300 kilometers to attend the auction in order to bid for a particularly rare item the “Mozart Pottery”, specifically mentioned in the list of items to be auctioned. However, when she got to the auction site, she found a notice stating that the auction had been canceled. Mary thereafter proceeded to a nearby antique shop and saw on display in the window, the identical “Mozart Pottery” priced at $10,000. Mary told the shop owner, Anthony, that she was only willing to pay $8,000 for it. However, Anthony indicated that he is willing to sell the pottery for $9,500. Mary then indicated to him that she desires some time to think it over and after lunch she will advise him. Anthony subsequently, agreed not to sell the identified pottery, until she return after lunch. However, Anthony forgot his promised to Mary and sold it to John for $9,500 before…
- Mary, a keen pottery collector, saw a notice in the Daily News for an auction at James Pottery Limited on September 30th 2022. She traveled 300 kilometers to attend the auction in order to bid for a particularly rare item the “Mozart Pottery”, specifically mentioned in the list of items to be auctioned. However, when she got to the auction site, she found a notice stating that the auction had been canceled. Mary thereafter proceeded to a nearby antique shop and saw on display in the window, the identical “Mozart Pottery” priced at $10,000. Mary told the shop owner, Anthony, that she was only willing to pay $8,000 for it. However, Anthony indicated that he is willing to sell the pottery for $9,500. Mary then indicated to him that she desires some time to think it over and after lunch she will advise him. Anthony subsequently, agreed not to sell the identified pottery, until she return after lunch. However, Anthony forgot his promised to Mary and sold it to John for $9,500 before…Mary, a keen pottery collector, saw a notice in the Daily News for an auction at James Pottery Limited on September 30th 2022. She traveled 300 kilometers to attend the auction in order to bid for a particularly rare item the “Mozart Pottery”, specifically mentioned in the list of items to be auctioned. However, when she got to the auction site, she found a notice stating that the auction had been canceled. Mary thereafter proceeded to a nearby antique shop and saw on display in the window, the identical “Mozart Pottery” priced at $10,000. Mary told the shop owner, Anthony, that she was only willing to pay $8,000 for it. However, Anthony indicated that he is willing to sell the pottery for $9,500. Mary then indicated to him that she desires some time to think it over and after lunch she will advise him. Anthony subsequently, agreed not to sell the identified pottery, until she return after lunch. However, Anthony forgot his promised to Mary and sold it to John for $9,500 before…Mary, a keen pottery collector, saw a notice in the Daily News for an auction at James Pottery Limited on September 30th 2022. She traveled 300 kilometers to attend the auction in order to bid for a particularly rare item the “Mozart Pottery”, specifically mentioned in the list of items to be auctioned. However, when she got to the auction site, she found a notice stating that the auction had been canceled. Mary thereafter proceeded to a nearby antique shop and saw on display in the window, the identical “Mozart Pottery” priced at $10,000. Mary told the shop owner, Anthony, that she was only willing to pay $8,000 for it. However, Anthony indicated that he is willing to sell the pottery for $9,500. Mary then indicated to him that she desires some time to think it over and after lunch, she will advise him. Anthony subsequently, agreed not to sell the identified pottery, until she return after lunch. However, Anthony forgot his promised to Mary and sold it to John for $9,500 before…
- Theresa booked a ticket with AirMalay to fly her from Kuala Lumpur to Melbourne on the1st December 2021. The ticket was booked far in advance, paid for and the flightconfirmed. On 1st December, however the flight was cancelled and the airline wasunable to give Theresa an alternative flight. Consequently, Theresa was forced to put upa night in Kuala Lumpur. The next afternoon, she flew to Melbourne on another airline.On reaching Melbourne, she found that she had lost a business opportunity whichresulted in her losing a considerable sum of money because she arrived in Melbourne toolate.Advise Theresa.Budd, the purchasing agent of Lake Hardware Wholesalers, has a relative who owns aretail hardware store. Budd arranged for hardware to be delivered by manufacturersto the relative’s retail store on a COD basis, thereby enabling his relative to buy atLake’s wholesale prices. Budd was probably able to accomplish this because of Lake’spoor internal control over(1) purchase requisitions. (3) cash receipts.(2) purchase orders. (4) perpetual inventory records.Mary's Stationery Store ordered via fax, 10 wood cabinets from Oscar's Office Furniture Co. at a cost of$ 1,000 per unit, with delivery within thirty ( 30 ) days at her place of business. She insisted in the fax that Oscar "take good care in handling the furniture so that it arrives safely, without any dents or scratches". Oscar advised that the goods would be shipped through PUG Transport Co. While the truck was en route with the cabinets, it crashed and all goods were lost. Oscar demanded Mary pay; Mary refused and insisted on a new delivery. Mary also ordered via fax, 500 red, white and blue ball point pens from Parker Pen Co. at a cost of $ 3 per pen and with delivery within 30 days. On the 25th day, ABC Delivery Co. delivered the pens and on inspection, Mary noticed she received 250 black pens and 250 silver pens. She also noticed that more than 50% of the pens had long scratches on their outer casings but all the pens wrote fine. She advised the truck driver that "if I didn't…
- 11. Received Water company bill in the amount of $380, to be paid next month. Identify the two parties to this transaction. Describe the activity of each party Which party is being accounted for Describe the impact on company value Describe the portions of the transaction occurring currently and describe portions of transaction that is being deferred (postponed) Was cash exchanged in the transaction?Dlamini runs a wholesale gloves business, making gloves and selling them to shops. In August 2017, Dlamini sent a quotation to Boitumelo, who owns a clothing shop, for 500 pairs of men’s brown gloves, at a price of P300.00 per pair, delivery 1 November. In the accompanying letter, she stated, ‘I have to sell these and, as you are my best customer; I will assume them sold to you unless I hear from you by the end of next week’. Boitumelo did not respond to this letter, as she was already over-stocked with men’s brown gloves.Two weeks later, Dlamini received an email from Boitumelo asking whether she would be prepared to supply 1,000 women’s medium blue leather gloves for delivery on 1 December.Dlamini replied, sending a quotation of P50.00 per pair, subject to her standard terms and conditions. These included a price variation clause providing for the price to be increased by P100.00 per pair if the cost of leather increased between placing the order and delivery of the gloves.Boitumelo…7. When goods are in possession of third person, delivery is complete: (a) When such third party acknowledges to the buyer that he holds the goods on his behalf (b) Even though such third party does not acknowledge (c) When the physical possession of the goods is given (d) None of the above