1-Mar | Cash | 116300 | |
Sales | 116300 | ||
1-Mar | Cost of Merchandise Sold | 72000 | |
Merchandise Inventory | 72000 | ||
10-Mar | Accounts Receivable | 755000 | |
Sales | 755000 | ||
10-Mar | Cost of Merchandise Sold | 400000 | |
Merchandise Inventory | 400000 | ||
12-Mar | Cash | 1950000 | |
Sales | 1950000 | ||
Cost of Merchandise Sold | 1250000 | ||
Merchandise Inventory | 1250000 | ||
17-Mar | Cash | 330000 | |
Sales | 330000 | ||
Cost of Merchandise Sold | 230000 | ||
Merchandise Inventory | 230000 | ||
31-Mar | Credit Card Expense | 81500 | |
Cash | 81500 | ||
Journalize the entries for the following transactions. Refer to the Chart of Accounts for exact wording...
need solved
OBJ.2 EX 5-8 Sales-related transactions, including the use of credit cards Journalize the entries for the following transactions: a. Sold merchandise for cash, $30,000. The cost of the merchandise sold was $18,000. b. Sold merchandise on account, $258,000. The cost of the merchandise sold was $154,800. c. Sold merchandise to customers who used MasterCard and VISA, $160,000. The cost of the merchandise sold was $96,000. merchandise sold was $43,200. a service fee paid for processing MasterCard, VISA, and...
EX 6-8 Purchase-related transactions Journalize entries for the following related transactions of Manville Heating& Air Company: a. Purchased $90,000 of merchandise from Wright Co. on account, terms 2/10, n/30. b. Paid the amount owed on the invoice within the discount period. c. Discovered that $18,000 of the merchandise purchased in (a) was defective and re- turned items, receiving credit for $17,640 [$18,000-($18,000 2%). d. Purchased $10,000 of merchandise from Wright Co. on account, terms n/30. e. Received a refund from Wright Co. for return in (c)...
Min. doivo s signments to Assignment Session Locator signment-takenprogress Show Me How Calculator Sales Related Transactions, including the use of Credit Cards Journalire the entries for the following transactions a. Sold merchandise for cash, $19.080. The cost of the goods sold was b. Sold merchandise on account, $11.620. The cost of the goods sold was $6.970. (Record the sale first c. Sold merchandise to customers who used MasterCard and VISA $106,550. The cost of the goods sold was $63,930. (Record...
this should have the updated information
Using the perpetual Inventory system, joumalize the entries for the following selected transactions Sold merchandise on account, for $12,000, terms 1/30. The cost of the merchandise sold was $6,500. Sold merchandise to customers who used MasterCard and VISA, $9,500. The cost of the merchandise sold we Sold merchandise to customers who used American Express, $2,900. The cost of the merchandise sold was Pald an invoice from First National Bank for $385, representing a service...
ar Using the perpetual inventory system, journalize the entries for the following selected transactions: a. Sold merchandise on account for $12,000, terms 1/30. The cost of the goods sold was $6,500. b. Sold merchandise to customers who used MasterCard and VISA, $9,500. The cost of the goods sold was $5,300. C. Sold merchandise to customers who used American Express, $2,900. The cost of the goods sold was $1,700. d. Paid an invoice from First National Bank for $385, representing a...
Tuwiman Co. for invoice of March 5. Instructions Journalize the entries to record the transactions of Niles Co. for March. PR 6-2B Sales-related transactions using perpetual inventory system The following selected transactions were completed by Green Lawn Supplies Co., which OBJ. 2 sells irrigation supplies primarily to wholesalers and occasionally to retail customers: July 1. Sold merchandise on account to Landscapes Co., $33,450, terms FOB shipping point, n/eom. The cost of merchandise sold was $20,000. 2. Sold merchandise for $86,000...
Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles): Instructions A. On March 1, Check is issued to establish a petty cash fund of $1,125. B. On April 1, the amount of cash in the petty cash fund is now $130. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $646; miscellaneous selling expense, $184; miscellaneous administrative expense, $149. (Because the...
Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles): Instructions A. On March 1, Check is issued to establish a petty cash fund of $1,035. B. On April 1, the amount of cash in the petty cash fund is now $100. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $529; miscellaneous selling expense, $210; miscellaneous administrative expense, $163. (Because the...
Sales-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers: Mar. 2. Sold merchandise on account to Equinox Co., $17,000, terms FOB destination, 1/10, 1/30. The cost of the goods sold was $14,380. 3. Sold merchandise for $12,450 plus 6% sales tax to retail cash customers. The cost of the goods sold was $6,700. 4. Sold merchandise on account to Empire Co.,...
Sales-Related Transactions, Including the Use of Credit Cards Illustrate the effects on the accounts and financial statements of recording the following transactions. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. a. Sold merchandise for cash, $70,000. The cost of the goods sold was $35,000. Reflect negative numbers with a minus sign. Balance Sheet Assets = Liabilities + Stockholders' Equity + Statement of Cash Flows Income Statement dropdown...