Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. jan 17 beacon mails a check to bwlc to pay the bal

Jan 17 Beacon mails a check to BWLC to pay the balance due on its...

60.1K

Verified Solution

Question

Accounting

Jan 17 Beacon mails a check to BWLC to pay the balance due on its purchase of 20,000bd.ft.
Jan 20 Beacon purchases 100 bd. ft. of Purple Heart, an exotic rainforest hardwood. Beacon's cost is $6.00bd.ft. and, in addition, it pays a $35 shipping charge. Beacon writes two checks for this purchase.
Jan 21 Beacon ships 100 bd. ft. of Purple Heart to the Cool Construction Co., a new account. Beacon invoices Cool $1,019.40 for the purchase, which includes $1,000 for the lumber and $19.40 for a UPS charge that Beacon pays at the time the order is picked up at its warehouse.
Jan 25 Dividends declared in December were paid on this day. common stock 20,000 Dividend per share 0.05
Jan 26 Beacon purchases 30,000 board feet of inventory at $.90bd. ft. paying $14,000 in cash and charging the balance of the purchase amount to its BWLC account.
Jan 31 During the month of January Beacon pays wages expense of $6,232.
Jan 31 Beacon remits the sales tax it collected. (Hint: you should be able to determine the amount of the remittance from the general ledger account for sales tax payable.)
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Suppose you have the following 4 option contracts that expire in exactly 1 year from today. Premium Strike...

Finance
Q

How might the following substances end up in urine? Glucose - Albumin - Leukocytes -

Medical Sciences
Q

The director has received your Memo and is interested in your choice of a health policy...

General Management
Q

Describe the marketing communication tools used in a Marketing Communications Mix. please mention the references

General Management
Q

An electron gun fires an electron beam of kinetic energy E with a very small...

Physics
Q

4 Two pipes have each of length 2 m One is closed at one end...

Physics
Q

n 6 S 1 1 n 2 S 13 80 e Refer to the diagram...

Geometry
Q

Three distributions labeled a b and c are represented below by their histograms Each distribution...

Statistics
Q

What additional information is needed to calculate the return on investment if income from operations...

Accounting
Q

On January 1, 2019, Lexor Company adopted the dollar-value-LIFO method of inventory costing. Lexor's ending...

Accounting
Q

Anchor Company purchased a manufacturing machine with a list price of $100,000 and received a...

Accounting
Q

Part 2: Pos ons for the month of December from the General Journal to the...

Accounting