In books of Kinzer Furnishings
Date | Account titles | Debit | Credit | |
Jul-04 | Merchandise Inventory | $ 7,300 | ||
Accounts Payable | $ 7,300 | |||
(Purchase of Merchandise on account) | ||||
Jul-07 | Merchandise Inventory | $ 125 | ||
Cash | $ 125 | |||
(Paid freight on merchandise purchased) | ||||
Jul-10 | Accounts Payable | $ 1,100 | ||
Merchandise Inventory | $ 1,100 | |||
(Returned merchandise) | ||||
Jul-18 | Accounts Payable | $ 1,800 | ||
Cash | $ 1,746 | =1800-54 | ||
Merchandise Inventory | $ 54 | =1800*3% | ||
(Paid cash net of 3% discount) | ||||
Jul-31 | Accounts Payable | $ 4,400 | =7300-1100-1800 | |
Cash | $ 4,400 | |||
(Paid cash) |
Fill Out All White Blanks Below The following transactions occurred between Kinzer Furnishings and K and...
Fill Out All White Blanks Below The following transactions occurred between Kinzer Furnishings and K and B Furniture Warehouse during July of the current year: (Click the icon to view the transactions.) Read the requirements Now journalize the inventory portion of the merchandise return Journal Entry Date Accounts Debit Credit More Info X - Jul 10 Jul 4 Kinzer Furnishings purchased $7,300 of merchandise from K and B Furniture Warehouse on account. Terms, 3/15 n/30, FOB shipping point. The goods...
Fill Out All White Blanks Below The following transactions occurred between Kinzer Furnishings and K and Furniture Warehouse during July of the current year (Click the icon to view the transactions.) Read the requirements Requirement 2. Journalize these transactions on the books of K and B Furniture Warehouse, assuming the "net" method is used. (Record debits first, then credits. Exclude explanations from any journal entries.) Jul 4: Kinzer Furnishings purchased 57 300 of merchandise from K and B Furniture Warehouse...
Fill Out All White Blanks Below Jul 4: Kinzer Fumishings purchased $7,300 of merchandise from K and B Fumiture Warehouse on account. Terms, 3/15, n/30,FOB shipping point. The goods cost K and B Fumiture Warehouse 52,700, Journal Entry Date Accounts Debit Credit More Info - X al Inventory Accounts payable Jul 7. Kinzer Fumishings paid a $125 freight bill for delivery of the goods purchased on July 4. Jul 4 Kinzer Furnishings purchased $7.300 of merchandise from K and B...
Fill Out All White Blanks Below The following transactions occurred between Tucker's Furnishings and P and M Furniture Warehouse during July of the current year: (Click the icon to view the transactions.) Read the requirements. Jul 18: Tucker's Furnishings paid $1,500 of the July 4 invoice less the discount. Journal Entry Date Accounts Debit Credit Jul 18 Requirements Jul 31: Tucker's Furnishings paid the remaining amount owed on the July 4 invoice. 1. Journalize these transactions on the books of...
Fill Out All White Blanks Below The following transactions occurred between Tucker's Furnishings and P and M Furniture Warehouse during July of the current year: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize these transactions on the books of Tucker's Furnishings, assuming the "net" method is used. (Record debits first, then credits. Exclude explanations from any journal entries.) Jul 4: Tucker's Furnishings purchased $8,000 of merchandise from P and M Furniture Warehouse on account. Terms,...
Fill Out All White Blanks Below 0 Requirements 1. Journalize these transactions on the books of Tucker's Furnishings, assuming the "net" method is used. 2. Journalize these transactions on the books of P and M Furniture Warehouse, assuming the "net" method is used. Print Done Jul 18: Tucker's Furnishings paid $1,500 of the July 4 invoice less the discount. Journal Entry Accounts Date Debit Credit Jul Jul 31: Tucker's Furnishings paid the remaining amount owed on the July 4 invoice....
Please Show All Your Calculations for Your Response: More Info Jul 4 Wholesale Furnishings purchased $8,000 of merchandise from M and P Furniture Warehouse on account Terms, 1/15, n/30, FOB shipping point. The goods cost M and P Furniture Warehouse $3,100. 7 Wholesale Furnishings paid a $100 freight bill for delivery of the goods purchased on July 4. 10 Wholesale Furnishings retumed $1,100 of the merchandise purchased on July 4. The goods cost M and P Furniture Warehouse $400. 18...
Show All Your Works For Your Calculations: Calculate Debit for Accounts payable and Inventory And Calculate Credit for Cash below * More Info Jul 4 Wholesale Furnishings purchased $8,000 of merchandise from M and P Furniture Warehouse on account. Terms, 1/15, n/30, FOB shipping point. The goods cost M and P Furniture Warehouse $3,100. 7 Wholesale Furnishings paid a $100 freight bill for delivery of the goods purchased on July 4. 10 Wholesale Furnishings returned $1,100 of the merchandise purchased...
Please help on answer those Questions, Thank you. Prepare journal entries to record the following merchandising transactions of Blink Company, which applies the perpetual inventory system. (Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Boden.) Jul. 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1. Jul.2 Sold merchandise to Creek Co. for $900 under credit terms...
Prepare journal entries to record the following merchandising transactions of Taylor's, which uses the perpe the gross method. (Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable-Walker.) Jul. 1 Purchased merchandise from Walker Company for $8,600 under credit terms of 1/15, 1/30, FOB shipping point, invoice dated July 1. Jul. 2 Sold merchandise to Perry Co. for $2,200 under credit terms of 2/10, 1/60, POB shipping point, invoice...