In the books of Ready Set Go | |||
General Journal | |||
Date | Description | Debit | Credit |
2018 | |||
Dec-01 | Inventory | $ 1,620 | |
Accounts Payable | $ 1,620 | ||
(being inventory purcahsed) | |||
Dec-03 | Accounts Receivable | $ 2,200 | |
Sales | $ 2,200 | ||
(being sales made) | |||
Dec-03 | Cost of goods sold | $ 1,400 | |
Inventory | $ 1,400 | ||
(being cost of goods sold recorded) | |||
Dec-09 | Accounts Payable | $ 1,620 | |
Cash | $ 1,588 | ||
Purchase Discount taken | $ 32 | ||
(being cash paid and discount taken) | |||
Dec-14 | Cash | $ 2,200 | |
Accounts Receivable | $ 2,200 | ||
(being cash received) | |||
Dec-17 | Accounts Receivable | $ 1,800 | |
Sales | $ 1,800 | ||
(being sales made) | |||
Dec-17 | Cost of goods sold | $ 1,230 | |
Inventory | $ 1,230 | ||
(being cost of goods sold recorded) | |||
Dec-18 | Inventory | $ 1,900 | |
Accounts payable | $ 1,900 | ||
(being inventory purchased) | |||
Dec-18 | Transportataion In Expense | $ 125 | |
Cash | $ 125 | ||
(being freight paid) | |||
Dec-20 | Accounts payable | $ 300 | |
Inventory | $ 300 | ||
(being purchase returned) | |||
Dec-21 | Sales Return & allowances | $ 400 | |
Accounts Receivable | $ 400 | ||
(being sales return recorded) | |||
Dec-21 | Inventory | $ 200 | |
Cost of goods sold | $ 200 | ||
(Being inventory of sales return accounted) | |||
Dec-22 | Cash | $ 1,386 | |
Sales Discount | $ 14 | ||
Accounts Receivable | $ 1,400 | ||
(being cash received and discount availed) | |||
Dec-26 | Accounts Payable | $ 1,600 | |
Cash | $ 1,584 | ||
Purchase Discount taken | $ 16 | ||
(being cash paid and discount taken) | |||
Dec-27 | Accounts Receivable | $ 2,400 | |
Sales | $ 2,400 | ||
(being sales made) | |||
Dec-27 | Cost of goods sold | $ 1,350 | |
Inventory | $ 1,350 | ||
(being cost of goods sold recorded) | |||
Dec-31 | Sales Return & allowances | $ 400 | |
Accounts Receivable | $ 400 | ||
(being sales return recorded) | |||
Dec-31 | Inventory | $ 150 | |
Cost of goods sold | $ 150 | ||
(Being inventory of sales return accpounted) |
Introductory Financial Accounting Individual Assignnent 2 Question 1 Ready-Set-Go. Ltd distributes suitcases to retail stores. At...
AP9-1 statement of financial position at December 31, GUIT. ALTERNATE PROBLEMS LO9-1,9-2,4-6 AP9-1 Exxon Mobil Corporation Recording and Reporting Current cording and Reporting Current Liabilities with Discussion of the Effects on the Quick Ratio (P9-1) computek Lid. completed the following transactions during 2018. The company's fiscal year ends on December 31, 2018 Jan. 8 Purchased on account merchandise for resale at a cost of $14,500, with ternis 2/10, 130 The company uses a periodic inventory system. 19 Paid the invoice...
Question 1 View Policies Current Attempt in Progress Concord Corporation prepares quarterly financial statements. The post-closing trial balance at December 31, 2021, is presented below. CONCORD CORPORATION Post-Closing Trial Balance December 31, 2021 Debit Credit Cash $22.400 Accounts Receivable 23,000 Allowance for Doubtful Accounts $1.200 Equipment 24,000 Accumulated Depreciation-Equipment 11,000 Buildings 121,000 Accumulated Depreciation-Buildings Land Accounts Payable 11,000 20,000 12,150 86,000 89,050 $210,400 $210,400 Common Stock Retained Earnings During the first awarter of 2022. the following transactions occurred: During the...