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Please notice the journal entries are different so when
answering provide which one goes where
Week...
Highly Confused right now on how to go about this problem, help please? Date Transaction description...
Highly Confused right now on how to go
about this problem, help please?
Date Transaction description Obtained a loan of $52,000 from BitiBank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2020 and the principal of the loan is to be repaid on June 1, 2024. Purchased 100 copies of Barry Plotter and the Chart of Accounts from Noir Novels for $11 each, terms 2/10, n/30 Sold 80...
Were using the Purchases accounts for this problem, so no merchandise inventory account. Need the journal...
Were using the Purchases accounts for this problem, so no
merchandise inventory account. Need the journal entries.
DATE TRANSACTIONS 2016 Jan. 1 William Evans started Evans Distributors with an investment of $49,000. He also invested personal business supplies worth $1,000. Purchased merchandise for cash, $10,500, Check 100. Sold merchandise on account to Chu Corporation, $750, terms 2/10, 1/30, Invoice 1001. Purchased merchandise on account from Whitson Company, $1,800, terms 1/10, n/30, Invoice 1125. Received and paid freight charges related to...
Please try to keep the same format! Problem 7-04A Selected accounts from the chart of accounts...
Please try to keep the same format!
Problem 7-04A Selected accounts from the chart of accounts of Blossom Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Blossom completed the following transactions. Jan. 3 Purchased merchandise...
PLEASE HELP Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the...
PLEASE HELP
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. (Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden.) July 1 Purchased merchandise from Boden Company for $6,700 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $1,000 under credit terms of 2/10, n/60,...
Transactions - week 4 You are now asked to record transactions that occurred during the fourth week of June in the...
Transactions - week 4 You are now asked to record transactions that occurred during the fourth week of June in the company's books, The week 4 transactions are listed below: Week 4 Date Transaction description 24 Made cash sales of $10,010 during the week. Paid the full amount owing to Booked Inn, Check No. 608. 25 25 Ordered 45 copies of Accidental Accountant from Quickdraw Peak for 516 each, agreed terms with Quickdraw Peak are 2/10, n/30 28 Paid the...
4 - Record journal entries for Merchandiser Co. using the perpetual method. To get full points,...
4 - Record journal entries for Merchandiser Co. using the perpetual method. To get full points, sales needs to be in the following format: AIR 100 Sales 100 COGS 40 love to General Journal Date Account/Explanation PR Debit Sept Credit 4 (Purchased 700 units for so. 20 each from Supplier Co. with terms of 1/10 n/60) Sept 6 (Sold 840 units to Client Co. for Si each with terms 2/10 n/30-cach unit cost $0.20 ) Sept 19 (Payment received from...
chapter 12 series B exercises PLEASE andise on account from Sillas avice No 12,53,100, terms 1/10,...
chapter 12 series B exercises
PLEASE
andise on account from Sillas avice No 12,53,100, terms 1/10, a Company 5 Returned merchandive purchased from Tang's Toys, receiving a credit wmemo on the amount owed, $500 s Parchased merchandise on account from Daisy's Dolls, Invoice No. 139, $1,900, terms 2/10, /30. 11 Issued Check No.415 t0 Tang's Toys for merchandise parchased on account, less return of luly 5 and less 2% dincount 13 Issoed Check No. 416 to Sillas & Company for...
Please Create a Sales journal using the perpetual method for dates June 4th June 15th June 18th J...
Please Create a Sales journal using the perpetual method for
dates
June 4th
June 15th
June 18th
June 21st
The business uses a simplified specific identifica Cost of Goods Sold: u policy by applying a 48 percent The sales price is provided for studen markup to arrive at the actual sales price tbe for ea entification costing sale based on this markup policy. (HINT: This method to calculate the cos sold was introduced in Chapter 4.) combined local and state...
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory...
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden. July 1 Purchased merchandise from Boden Company for $6, 200 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, n/60, FOB...
Record the journal entries in order as presented in the problem. At June 30, 2018, the...
Record the journal entries in order as presented in the
problem.
At June 30, 2018, the end of its most recent fiscal year, River Consultants Ltd. 's post-closing trial balance was as follows: Debit Credit Cash Accounts receivable Supplies Accounts payable Income tax payable Unearned revenue Common shares Retained earnings $15,700 1,300 700 $300 400 1,000 3,400 12,600 $17,700 $17,700 The company underwent a major expansion in July. New staff was hired and more financing was obtained. River conducted the...
Highly Confused right now on how to go
about this problem, help please?
Date Transaction description Obtained a loan of $52,000 from BitiBank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2020 and the principal of the loan is to be repaid on June 1, 2024. Purchased 100 copies of Barry Plotter and the Chart of Accounts from Noir Novels for $11 each, terms 2/10, n/30 Sold 80...
Were using the Purchases accounts for this problem, so no
merchandise inventory account. Need the journal entries.
DATE TRANSACTIONS 2016 Jan. 1 William Evans started Evans Distributors with an investment of $49,000. He also invested personal business supplies worth $1,000. Purchased merchandise for cash, $10,500, Check 100. Sold merchandise on account to Chu Corporation, $750, terms 2/10, 1/30, Invoice 1001. Purchased merchandise on account from Whitson Company, $1,800, terms 1/10, n/30, Invoice 1125. Received and paid freight charges related to...
Please try to keep the same format!
Problem 7-04A Selected accounts from the chart of accounts of Blossom Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Blossom completed the following transactions. Jan. 3 Purchased merchandise...
PLEASE HELP
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. (Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden.) July 1 Purchased merchandise from Boden Company for $6,700 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $1,000 under credit terms of 2/10, n/60,...
Transactions - week 4 You are now asked to record transactions that occurred during the fourth week of June in the company's books, The week 4 transactions are listed below: Week 4 Date Transaction description 24 Made cash sales of $10,010 during the week. Paid the full amount owing to Booked Inn, Check No. 608. 25 25 Ordered 45 copies of Accidental Accountant from Quickdraw Peak for 516 each, agreed terms with Quickdraw Peak are 2/10, n/30 28 Paid the...
4 - Record journal entries for Merchandiser Co. using the perpetual method. To get full points, sales needs to be in the following format: AIR 100 Sales 100 COGS 40 love to General Journal Date Account/Explanation PR Debit Sept Credit 4 (Purchased 700 units for so. 20 each from Supplier Co. with terms of 1/10 n/60) Sept 6 (Sold 840 units to Client Co. for Si each with terms 2/10 n/30-cach unit cost $0.20 ) Sept 19 (Payment received from...
chapter 12 series B exercises
PLEASE
andise on account from Sillas avice No 12,53,100, terms 1/10, a Company 5 Returned merchandive purchased from Tang's Toys, receiving a credit wmemo on the amount owed, $500 s Parchased merchandise on account from Daisy's Dolls, Invoice No. 139, $1,900, terms 2/10, /30. 11 Issued Check No.415 t0 Tang's Toys for merchandise parchased on account, less return of luly 5 and less 2% dincount 13 Issoed Check No. 416 to Sillas & Company for...
Please Create a Sales journal using the perpetual method for
dates
June 4th
June 15th
June 18th
June 21st
The business uses a simplified specific identifica Cost of Goods Sold: u policy by applying a 48 percent The sales price is provided for studen markup to arrive at the actual sales price tbe for ea entification costing sale based on this markup policy. (HINT: This method to calculate the cos sold was introduced in Chapter 4.) combined local and state...
Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden. July 1 Purchased merchandise from Boden Company for $6, 200 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, n/60, FOB...
Record the journal entries in order as presented in the
problem.
At June 30, 2018, the end of its most recent fiscal year, River Consultants Ltd. 's post-closing trial balance was as follows: Debit Credit Cash Accounts receivable Supplies Accounts payable Income tax payable Unearned revenue Common shares Retained earnings $15,700 1,300 700 $300 400 1,000 3,400 12,600 $17,700 $17,700 The company underwent a major expansion in July. New staff was hired and more financing was obtained. River conducted the...
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