Homework Answers
Ans:
|
Date |
Accounts titles and Explanation |
Debit ($) |
Credit ($) |
|
Apr.29, 2019 |
Cash A/c |
1,533 |
|
|
Cash short or over A/c (300+1,533-1,825) |
8 |
||
|
Sales revenue A/c |
1,541 |
||
|
Apr.30, 2019 |
Cash A/c |
1,442 |
|
|
Cash short or over A/c (300+1,442-1,743) |
1 |
||
|
Sales revenue A/c |
1,441 |
Add Answer to:
Northwest Gift Shop, a retail business, started business on April 29, 2019. It keeps a $300...
Problem 8.1A Recording purchases and cash payments. LO 8-1, 8-3 Annette’s Photo Shop is a retail...
Problem 8.1A Recording purchases and cash payments. LO 8-1,
8-3
Annette’s Photo Shop is a retail store that sells cameras and
photography supplies. Annette’s Photo Shop began operations April
1, 2019 and uses the periodic system. The firm purchases its
merchandise for cash and on open account. During April, Annette’s
Photo Shop engaged in the following transactions:
DATE
TRANSACTIONS
2019
April
1
Purchased camera film on credit from Camera & Film Products,
Invoice 825, $1,055, terms n/30; freight of $29...
Record the following transactions for the month of April 2019 in the cash receipts journal. Total,...
Record the following transactions for the month of April 2019 in the cash receipts journal. Total, prove, and rule the cash receipts journal as of April 30. a April 3 Collected $350 from Margo Daub, a credit customer on account. 8 Kevin Sharp, the owner, invested an additional $5,000 cash in the business. 9 Received a cash refund of $30 for damaged supplies. 15 Had cash sales of $5,500 plus sales tax of $385. There was cash overage of $5....
Florence's Florals, a retail business, started a $300 petty cash fund on June 1. Below are...
Florence's Florals, a retail business, started a $300 petty cash fund on June 1. Below are descriptions of the transactions to establish the petty cash fund, disburse petty cash during June, and replenish the petty cash fund on June 30. DATE TRANSACTIONS June 1 Issued Check 550 for $300 to establish a petty cash fund. 5 Paid $38 from the petty cash fund for office supplies, Petty Cash Voucher 1. 8 Paid $39 from the petty cash fund for postage...
Name: ranch of the April transactions identify the journal in which it would be recorded. Assume...
Name: ranch of the April transactions identify the journal in which it would be recorded. Assume the mpany uses a sales journal, purchases journal, cash receipts journal, cash disbursements ournal, and general journal as illustrated in this chapter Apr 3 Purchased merchandise for $2,950 on credit, terms 2/10, n/30. 9 Issued check to buy store supplies for $650. 12 Sold merchandise costing $500 on credit for $770, terms n/30. 17 Issued check for $1,400 to pay off a note payable....
Need help please asap. Royal Gift Shop sells cards, supplies, and various holiday greeting cards. Sales...
Need help please asap.
Royal Gift Shop sells cards, supplies, and various holiday greeting cards. Sales to retail customers are subject to an 8 percent sales tax. The firm sells its merchandise for cash; to customers using bank credit cards, such as MasterCard and Visa; and to customers using American Express. The bank credit cards charge a 1 percent fee. American Express charges a 2 percent fee. Royal Gift Shop also grants trade discounts to certain wholesale customers who place...
Problem 84 Waits opened a business bank account with £16,000 on 14 April 2019. During April...
Problem 84 Waits opened a business bank account with £16,000 on 14 April 2019. During April he issued cheques totaling £72,760 and banked cheques totaling £80,060. These transactions were entered into his cash book up to 30th April 2019. On receiving his bank statement for April he discovered the following: (1) A cheque for £4,800, which was banked (and included in the receipts above), had been returned by the bank marked "No funds available". No adjustment has been made in...
At the beginning of the current season on April 1, the ledger of Sandhill Pro Shop...
At the beginning of the current season on April 1, the ledger of Sandhill Pro Shop showed Cash $3,100; Inventory $4,100; and Common Stock $7,200. The following transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,800, terms 4/10, n/60. 7 Paid freight on Arnie Co. purchases $96. 9 Received credit from Arnie Co.for merchandise returned $500. 10 Sold merchandise on account to members $1,608, terms n/30. 12 Purchased golf shoes,...
At the beginning of the current season on April 1, the ledger of Sunland Pro Shop...
At the beginning of the current season on April 1, the ledger of Sunland Pro Shop showed Cash $3,035: Inventory $4,035, and Common Stock $7,070. The following transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,605, terms 3/10,n/60. 7 Paid freight on Arnie Co. purchases $86. 9 Received credit from Arnie Co.for merchandise returned $305. 10 Sold merchandise on account to members $1,434, terms n/30. 12 Purchased golf shoes, sweaters,...
Record the following transactions for the month of April 2019 in the cash payments journal. Total,...
Record the following transactions for the month of April 2019 in the cash payments journal. Total, prove, and rule the cash payments journal as of April 30. the a April 1 Issued Check 102 for $800 to pay the monthly rent. 4 Issued Check 103 for $125 to establish a petty cash fund. 5 Issued Check 104 for $350 to remit sales tax to the state tax commission. 8 Issued Check 105 for $594 to Fortune Company, creditor, in payment...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr.1 Roulstone contributed $34,500 cash to the business in exchange for common stock. Paid $18,300 cash for the purchase of a used truck. Purchased $9,300 of ladders and other equipment; the company paid $1,000 cash, with the balance due in 30 days. Paid $8,640 cash for two-year (or 24-month) premium toward liability insurance. Purchased $3,600 of supplies on credit. Received an...
Problem 8.1A Recording purchases and cash payments. LO 8-1,
8-3
Annette’s Photo Shop is a retail store that sells cameras and
photography supplies. Annette’s Photo Shop began operations April
1, 2019 and uses the periodic system. The firm purchases its
merchandise for cash and on open account. During April, Annette’s
Photo Shop engaged in the following transactions:
DATE
TRANSACTIONS
2019
April
1
Purchased camera film on credit from Camera & Film Products,
Invoice 825, $1,055, terms n/30; freight of $29...
Record the following transactions for the month of April 2019 in the cash receipts journal. Total, prove, and rule the cash receipts journal as of April 30. a April 3 Collected $350 from Margo Daub, a credit customer on account. 8 Kevin Sharp, the owner, invested an additional $5,000 cash in the business. 9 Received a cash refund of $30 for damaged supplies. 15 Had cash sales of $5,500 plus sales tax of $385. There was cash overage of $5....
Florence's Florals, a retail business, started a $300 petty cash fund on June 1. Below are descriptions of the transactions to establish the petty cash fund, disburse petty cash during June, and replenish the petty cash fund on June 30. DATE TRANSACTIONS June 1 Issued Check 550 for $300 to establish a petty cash fund. 5 Paid $38 from the petty cash fund for office supplies, Petty Cash Voucher 1. 8 Paid $39 from the petty cash fund for postage...
Name: ranch of the April transactions identify the journal in which it would be recorded. Assume the mpany uses a sales journal, purchases journal, cash receipts journal, cash disbursements ournal, and general journal as illustrated in this chapter Apr 3 Purchased merchandise for $2,950 on credit, terms 2/10, n/30. 9 Issued check to buy store supplies for $650. 12 Sold merchandise costing $500 on credit for $770, terms n/30. 17 Issued check for $1,400 to pay off a note payable....
Need help please asap.
Royal Gift Shop sells cards, supplies, and various holiday greeting cards. Sales to retail customers are subject to an 8 percent sales tax. The firm sells its merchandise for cash; to customers using bank credit cards, such as MasterCard and Visa; and to customers using American Express. The bank credit cards charge a 1 percent fee. American Express charges a 2 percent fee. Royal Gift Shop also grants trade discounts to certain wholesale customers who place...
Problem 84 Waits opened a business bank account with £16,000 on 14 April 2019. During April he issued cheques totaling £72,760 and banked cheques totaling £80,060. These transactions were entered into his cash book up to 30th April 2019. On receiving his bank statement for April he discovered the following: (1) A cheque for £4,800, which was banked (and included in the receipts above), had been returned by the bank marked "No funds available". No adjustment has been made in...
At the beginning of the current season on April 1, the ledger of Sandhill Pro Shop showed Cash $3,100; Inventory $4,100; and Common Stock $7,200. The following transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,800, terms 4/10, n/60. 7 Paid freight on Arnie Co. purchases $96. 9 Received credit from Arnie Co.for merchandise returned $500. 10 Sold merchandise on account to members $1,608, terms n/30. 12 Purchased golf shoes,...
At the beginning of the current season on April 1, the ledger of Sunland Pro Shop showed Cash $3,035: Inventory $4,035, and Common Stock $7,070. The following transactions occurred during April 2022. Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $1,605, terms 3/10,n/60. 7 Paid freight on Arnie Co. purchases $86. 9 Received credit from Arnie Co.for merchandise returned $305. 10 Sold merchandise on account to members $1,434, terms n/30. 12 Purchased golf shoes, sweaters,...
Record the following transactions for the month of April 2019 in the cash payments journal. Total, prove, and rule the cash payments journal as of April 30. the a April 1 Issued Check 102 for $800 to pay the monthly rent. 4 Issued Check 103 for $125 to establish a petty cash fund. 5 Issued Check 104 for $350 to remit sales tax to the state tax commission. 8 Issued Check 105 for $594 to Fortune Company, creditor, in payment...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr.1 Roulstone contributed $34,500 cash to the business in exchange for common stock. Paid $18,300 cash for the purchase of a used truck. Purchased $9,300 of ladders and other equipment; the company paid $1,000 cash, with the balance due in 30 days. Paid $8,640 cash for two-year (or 24-month) premium toward liability insurance. Purchased $3,600 of supplies on credit. Received an...
Most questions answered within 3 hours.
-
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 1 hour ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 2 hours ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 3 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 4 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 5 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 6 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 6 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 8 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 8 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 9 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 10 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 10 hours ago