The following are select account balances for Raymond Co at…

The following are select account balances for Raymond Co at 12/31/23:           PPE: $3,000              Sales Discount: $8,000 Total Assets: $1,284,000 Accounts Receivable: $51,000 Total Liabilities: $890,000 Wage Expense: $64,000 Retained Earnings: $78,000           Revenues: $72,000   What are net revenues for the period ended 12/31/2023?

August 1, 2023 Josie’s Jeans purchased a new machine for $80…

August 1, 2023 Josie’s Jeans purchased a new machine for $80,000 in cash. Josie’s uses straight-line depreciation and expects the machine to have a 10 year useful life with a salvage value of $10,000. On January 1, 2026 Josie’s sold the machine for $5,000 cash.   For January 1, 2026 when the journal entry is prepared, what is the impact on the Accumulated Depreciation account?  

Sheldon Company had 2,000 units of inventory costing $10,000…

Sheldon Company had 2,000 units of inventory costing $10,000 in beginning inventory at July 1st.  During July, Sheldon engaged in the following transactions: A. July 3rd – The company paid cash to purchase 1,000 units of inventory for $6,500. B. July 10th – The company paid cash to purchase 1,200 units of inventory for $8,400. C. July 24th – The company paid cash to purchase 250 units of inventory for $2,125. Throughout July, the company sold inventory 3,700 units of inventory for $44,400 cash.    Under average costing valuation method, what is the cost of goods available for sale?