Homework Answers
| Date | Accounts Titles | Debit | Credit |
| 20-Jun | Merchandise Inventory | $ 5,800 | |
| Account Payable | $ 5,800 | ||
| 20-Jun | Merchandise Inventory | $ 300 | |
| Cash | $ 300 | ||
| 4-Jul | Account Payable | $ 600 | |
| Merchandise Inventory | $ 600 | ||
| 14-Jul | Account Payable | $ 5,200 | |
| Cash (5800-600) | $ 5,200 | ||
| 16-Jul | Merchandise Inventory | $ 4,500 | |
| Account Payable | $ 4,500 | ||
| 18-Jul | Account Payable | $ 900 | |
| Merchandise Inventory | $ 900 | ||
| 24-Jul | Account Payable (4500-900) | $ 3,600 | |
| Cash (3600*98%) | $ 3,528 | ||
| Merchandise Inventory | $ 72 |
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E5-20 (similar to) Haynes Jewelers uses a perpetual inventory system and had the following purchase transactions....
Howie Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary...
Howie Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary tansactions. Explanations are not required. (Click the icon to view the transactions.) Journalize all necessary transactions in the order they are presented in the transaction list. (Record debits first, then credits. Exclude explanations from journal entries. Round all numbers to the nearest whole dollar.) More Info Jun. 20 Purchased inventory of 55,100 on account from Sanders Diamonds, a jewelry imprter. Terms were 2/15, n/45....
Howie Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary transactions. Explanations are not required.
Howie Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary transactions. Explanations are not required. Journalize all necessary transactions in the order they are presented in the transaction list. Jun. 20: Purchased inventory of $5,100 on account from Sanders Diamonds, a jewelry importer. Terms were 2/15, n/45, FOB shipping point
Le R_29 Journalizing purchase transactions-periodic inventory system Lawrence Appliances had the following purchas...
Le R_29 Journalizing purchase transactions-periodic inventory system Lawrence Appliances had the following purchase transactions. Journalize all necessary transactions using the periodic inventory system. Explanations are not required. Sep.4 Purchased inventory of $6,900 on account from Max Appliance Wholesale, an appliance wholesaler. Terms were 3/15, n/30, FOB shipping point. 4 Paid freight charges, $480. 10 Returned $300 of inventory to Max. 17 Paid Max Appliance Wholesale, less return and discount. 20 Purchased inventory of $3,900 on account from MY Appliance, an...
15, less the allowance. E5B-31 Journalizing purchase and sales transactions-periodic inventory system Journalize the following transactions...
15, less the allowance. E5B-31 Journalizing purchase and sales transactions-periodic inventory system Journalize the following transactions for Master Bicycles using the periodic inventory system. Explanations are not required. Nov. 2 6 8 10 Purchased $3,400 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point. Returned $800 of defective merchandise purchased on November 2. Paid freight bill of $100 on November 2 purchase. Sold merchandise inventory on account for $6,100. Payment terms were 3/15, n/45. Paid amount...
E5B-31 Journalizing purchase and sales transactions-periodic inventory system Journalize the following transactions for Master Bicycles using...
E5B-31 Journalizing purchase and sales transactions-periodic inventory system Journalize the following transactions for Master Bicycles using the periodic inventory system. Explanations are not required. Nov. 2 6 8 10 Purchased $3,400 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point. Returned $800 of defective merchandise purchased on November 2. Paid freight bill of $100 on November 2 purchase. Sold merchandise inventory on account for $6,100. Payment terms were 3/15, n/45. Paid amount owed on credit purchase...
Journalize the following transactions that occurred in September 2018 for Red Hawk, assuming the perpetual inventory...
Journalize the following transactions that occurred in September 2018 for Red Hawk, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Red Hawk estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount) (Click the icon to view the transactions.) More Info More Info Sep. ing:...
Journalize the following transactions that occurred in November 2018 for Sam's Adventure Land, assuming the perpetual...
Journalize the following transactions that occurred in November
2018 for Sam's Adventure Land, assuming the perpetual inventory
system is being used. No explanations are needed. Identify each
accounts payable and accounts receivable with the vendor or
customer name.Sam's Adventure Land estimates sales returns at
the
Journalize the following transactions that occurred in November 2018 for Sam's Adventure Land, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor...
Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions...
Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during April between Swan Company and Bird Company: Apr.2. Swan Company sold merchandise on account to Bird Company, $32,000, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $19,200. 8. Swan Company sold merchandise on account to Bird Company, $49,500, terms FOB destination, 1/15, n/30. The...
Journalize the following transactions that occurred in November 2018 for Colden's Awesome Park, assuming the perpetual...
Journalize the following transactions that occurred in November 2018 for Colden's Awesome Park, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Colden's Awesome Park estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount.) (Click the icon to view the transactions.) Nov. 4 Purchased merchandise...
2. Neutron uses a periodic inventory system. Prepare general journal entries to record the following transactions...
2. Neutron uses a periodic inventory system. Prepare general journal entries to record the following transactions for Neutron: (25%) Neutron purchased merchandise on credit from Proton for $9,000, terms 2/10, n/30, FOB shipping. 10 Paid freight $100 charges to bring merchandise in. 12 Neutron returned $600 of merchandise from the June 10 purchase. 19 Neutron paid Proton for the June 10 purchase. 20 Purchase inventory of $10,000 on account from Man appliance terms were n/45. 21 Received a $1,000 allowance...
Howie Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary tansactions. Explanations are not required. (Click the icon to view the transactions.) Journalize all necessary transactions in the order they are presented in the transaction list. (Record debits first, then credits. Exclude explanations from journal entries. Round all numbers to the nearest whole dollar.) More Info Jun. 20 Purchased inventory of 55,100 on account from Sanders Diamonds, a jewelry imprter. Terms were 2/15, n/45....
Howie Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary transactions. Explanations are not required. Journalize all necessary transactions in the order they are presented in the transaction list. Jun. 20: Purchased inventory of $5,100 on account from Sanders Diamonds, a jewelry importer. Terms were 2/15, n/45, FOB shipping point
Le R_29 Journalizing purchase transactions-periodic inventory system Lawrence Appliances had the following purchase transactions. Journalize all necessary transactions using the periodic inventory system. Explanations are not required. Sep.4 Purchased inventory of $6,900 on account from Max Appliance Wholesale, an appliance wholesaler. Terms were 3/15, n/30, FOB shipping point. 4 Paid freight charges, $480. 10 Returned $300 of inventory to Max. 17 Paid Max Appliance Wholesale, less return and discount. 20 Purchased inventory of $3,900 on account from MY Appliance, an...
15, less the allowance. E5B-31 Journalizing purchase and sales transactions-periodic inventory system Journalize the following transactions for Master Bicycles using the periodic inventory system. Explanations are not required. Nov. 2 6 8 10 Purchased $3,400 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point. Returned $800 of defective merchandise purchased on November 2. Paid freight bill of $100 on November 2 purchase. Sold merchandise inventory on account for $6,100. Payment terms were 3/15, n/45. Paid amount...
E5B-31 Journalizing purchase and sales transactions-periodic inventory system Journalize the following transactions for Master Bicycles using the periodic inventory system. Explanations are not required. Nov. 2 6 8 10 Purchased $3,400 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point. Returned $800 of defective merchandise purchased on November 2. Paid freight bill of $100 on November 2 purchase. Sold merchandise inventory on account for $6,100. Payment terms were 3/15, n/45. Paid amount owed on credit purchase...
Journalize the following transactions that occurred in September 2018 for Red Hawk, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Red Hawk estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount) (Click the icon to view the transactions.) More Info More Info Sep. ing:...
Journalize the following transactions that occurred in November
2018 for Sam's Adventure Land, assuming the perpetual inventory
system is being used. No explanations are needed. Identify each
accounts payable and accounts receivable with the vendor or
customer name.Sam's Adventure Land estimates sales returns at
the
Journalize the following transactions that occurred in November 2018 for Sam's Adventure Land, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor...
Journalize the following transactions that occurred in November 2018 for Colden's Awesome Park, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Colden's Awesome Park estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount.) (Click the icon to view the transactions.) Nov. 4 Purchased merchandise...
2. Neutron uses a periodic inventory system. Prepare general journal entries to record the following transactions for Neutron: (25%) Neutron purchased merchandise on credit from Proton for $9,000, terms 2/10, n/30, FOB shipping. 10 Paid freight $100 charges to bring merchandise in. 12 Neutron returned $600 of merchandise from the June 10 purchase. 19 Neutron paid Proton for the June 10 purchase. 20 Purchase inventory of $10,000 on account from Man appliance terms were n/45. 21 Received a $1,000 allowance...
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