Homework Answers
Journal entries:
| Date | Account title | Debit | Credit |
|---|---|---|---|
|
Merchandise inventory ($6000 - 2430) Accounts payable |
$3570 . |
. $3570 |
|
|
Accounts payable Discount received ($3570 x 3%) Cash |
$3570 . . |
. $107.1 $3462.9 |
Trade discount = $6000 x 30% = $1800
additional trade discount = ($6000 - $1800) x 15% = $630
total trade discount = $2430
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33 Exercise 8.5 Recording purchases made with trade discounts. LO 8-1 Record the following transactions of...
Exercise 8.5 Recording purchases made with trade discounts. LO 8-1 Record the following transactions of Allen Inc.: (Rou...
Exercise 8.5 Recording purchases made with trade discounts. LO 8-1 Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places) DATE TRANSACTIONS 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $3,400, trade discounts of 30% and 20%; terms 3/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 3 percent discount, Check 185.
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places.) DATE TRANSACTIONS...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places.) DATE TRANSACTIONS 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $6,000, trade discounts of 30% and 15%; terms 3/10, n/30. Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 3 percent discount, Check 185 17 View transaction list Journal entry worksheet 2 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $6,000,...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places TRANSACTIONS DATE...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places TRANSACTIONS DATE 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $4,300, trade discounts of 20% and 10%; terms 1/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 1 percent discount, Check 185. View transaction list Journal entry worksheet Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $4,300, trade...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places TRANSACTIONS DATE...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places TRANSACTIONS DATE 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1991, list price $3,908, trade discounts of 20% and 10%; terms 2/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 2 percent discount, Check 185. View transaction list Journal entry worksheet Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $3,900, trade...
Exercise 8.4 Recording purchases with purchases discounts. LO 8-1 Record the following transactions of J. Min...
Exercise 8.4 Recording purchases with purchases discounts. LO 8-1 Record the following transactions of J. Min Designs in a general journal: DATE TRANSACTIONS 2019 April 1 Purchased merchandise on credit from O’Rourke Fabricators, Invoice 885, $2,100, terms 3/10, n/30; freight of $63 prepaid by O’Rourke Fabricators and added to the invoice (total invoice amount, $2,163). 9 Paid amount due to O’Rourke Fabricators for the purchase of April 1, less the 3 percent discount, Check 457. 15 Purchased merchandise on credit...
Exercise Record the following transactions of J. Min Designs in a general journal TRANSACTIONS DATE 2019...
Exercise Record the following transactions of J. Min Designs in a general journal TRANSACTIONS DATE 2019 April 1 Purchased merchandise on credit from O'Rourke Fabricators, Invoice as $1,5ee, terms 3/10, 1/30; freight of $45 prepaid by O'Rourke Fabricators and added to the invoice (total Invoice amount, 31,545) Paid amount due to O'Rourke Fabricators for the purchase of April 13 Less the percent discount Check 457. Purchased merchandise on credit from Kroll company. Invoice 145, 51,000, terms 3 n /30 freight...
cercise 8.3 Recording credit purchases. LO 8-1 e following transactions took place at Sonoma Auto Parts...
cercise 8.3 Recording credit purchases. LO 8-1 e following transactions took place at Sonoma Auto Parts and Custom Shop during the DATE TRANSACTIONS ly 1 Purchased batteries for $1,890 plus a freight charge of $95 from Batteries Plus Corporation; received Invoice 6812, dated June 27, which has terms of n/30. 3 Purchased mufflers for $4,250 plus a freight charge of $99 from Performance Mufflers; received Invoice 441, dated June 30, which has terms of 1/10, n/60. 5 Purchased car radios...
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 of J. Min Designs in a general journal. The company uses the...
Record the following transactions of J. Min Designs in a general journal. The company uses the perpetual inventory system. DATE TRANSACTIONS 2019 April 1 Purchased merchandise on credit from O'Rourke Fabricators, Invoice 885, $3,800, terms 1/10, n/30; freight of $100 prepaid by O'Rourke Fabricators and added to the invoice (total invoice amount, $3,900). 9 Paid amount due to O'Rourke Fabricators for the purchase of April 1, less the 1 percent discount, Cheek 457. 15 Purchased merchandise on credit from Kroll...
6 Exercise 4-9 Recording purchases, sales, returns, and shipping LO P1, P2 Following are the merchandising...
6 Exercise 4-9 Recording purchases, sales, returns, and shipping LO P1, P2 Following are the merchandising transactions of Dollar Store. nts Nov. 1 Dollar Store purchases merchandise for $1,100 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. 5 Dollar Store pays cash for the November 1 purchase. 7 Dollar Store discovers and returns $100 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. 10 Dollar Store pays $55...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places.) DATE TRANSACTIONS 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $6,000, trade discounts of 30% and 15%; terms 3/10, n/30. Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 3 percent discount, Check 185 17 View transaction list Journal entry worksheet 2 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $6,000,...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places TRANSACTIONS DATE 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $4,300, trade discounts of 20% and 10%; terms 1/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 1 percent discount, Check 185. View transaction list Journal entry worksheet Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $4,300, trade...
Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places TRANSACTIONS DATE 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1991, list price $3,908, trade discounts of 20% and 10%; terms 2/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 2 percent discount, Check 185. View transaction list Journal entry worksheet Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $3,900, trade...
Exercise Record the following transactions of J. Min Designs in a general journal TRANSACTIONS DATE 2019 April 1 Purchased merchandise on credit from O'Rourke Fabricators, Invoice as $1,5ee, terms 3/10, 1/30; freight of $45 prepaid by O'Rourke Fabricators and added to the invoice (total Invoice amount, 31,545) Paid amount due to O'Rourke Fabricators for the purchase of April 13 Less the percent discount Check 457. Purchased merchandise on credit from Kroll company. Invoice 145, 51,000, terms 3 n /30 freight...
cercise 8.3 Recording credit purchases. LO 8-1 e following transactions took place at Sonoma Auto Parts and Custom Shop during the DATE TRANSACTIONS ly 1 Purchased batteries for $1,890 plus a freight charge of $95 from Batteries Plus Corporation; received Invoice 6812, dated June 27, which has terms of n/30. 3 Purchased mufflers for $4,250 plus a freight charge of $99 from Performance Mufflers; received Invoice 441, dated June 30, which has terms of 1/10, n/60. 5 Purchased car radios...
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 of J. Min Designs in a general journal. The company uses the perpetual inventory system. DATE TRANSACTIONS 2019 April 1 Purchased merchandise on credit from O'Rourke Fabricators, Invoice 885, $3,800, terms 1/10, n/30; freight of $100 prepaid by O'Rourke Fabricators and added to the invoice (total invoice amount, $3,900). 9 Paid amount due to O'Rourke Fabricators for the purchase of April 1, less the 1 percent discount, Cheek 457. 15 Purchased merchandise on credit from Kroll...
6 Exercise 4-9 Recording purchases, sales, returns, and shipping LO P1, P2 Following are the merchandising transactions of Dollar Store. nts Nov. 1 Dollar Store purchases merchandise for $1,100 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. 5 Dollar Store pays cash for the November 1 purchase. 7 Dollar Store discovers and returns $100 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. 10 Dollar Store pays $55...
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