Homework Answers
Journal entry
| Date | account and explanation | Debit | Credit |
| Oct 12 | Account receivable | 9200 | |
| Sales revenue | 9200 | ||
| (To record sales) | |||
| Oct 12 | Cost of goods sold | 5520 | |
| Merchandise inventory | 5520 | ||
| (To record cost of goods sold) | |||
| Oct 26 | Cash (9200*99%) | 9108 | |
| Sales discount | 92 | ||
| Account receivable | 9200 | ||
| (To record collection) | |||
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Oct. 12: Sold computers on account for $9,200 to a customer, terms 1/15, n/45. The cost of the computers is $5,520. Beg...
Nov 4 Purchased $5,500 of merchandise on account from Salem Tire. Terms, 1/15, n/45, FOB shipping...
Nov 4 Purchased $5,500 of merchandise on account from Salem Tire. Terms, 1/15, n/45, FOB shipping point. Salem Tire prepaid the $250 shipping cost and added the amount to the invoice. 7 Purchased $400 of supplies on account from Bargain Depot. Terms, 4/10, n/30, FOB destination. 9 Sold $900 (cost, $425) of merchandise on account to W. Furmick. Terms, 3/15, n/45, FOB destination. 11 Paid $75 freight charges to deliver goods to W. Furmick. 13 Returned $1,300 of the merchandise...
Nov 4 Purchased $5,700 of merchandise on account from Goodsale Tire. Terms, 1/15, n/45, FOB shipping...
Nov 4 Purchased $5,700 of merchandise on account from Goodsale Tire. Terms, 1/15, n/45, FOB shipping point. Goodsale Tire prepaid the $75 shipping cost and added the amount to the invoice. 7 Purchased $500 of supplies on account from Office Sale. Terms, 3/10, n/30, FOB destination. 9 Sold $1,400 (cost, $400) of merchandise on account to F. Smith. Terms, 2/15, n/45, FOB destination. 11 Paid $40 freight charges to deliver goods to F. Smith. 13 Returned $1,100 of the merchandise...
Х Data Table Cash 111 Accounts payable 211 Oct 1 5,000 Oct 1 2,100 Accounts receivable...
Х Data Table Cash 111 Accounts payable 211 Oct 1 5,000 Oct 1 2,100 Accounts receivable 112 Notes payable 212 Oct 1 3,300 Oct 1 15,000 Print Done Data Table - 113 Common stock 311 Supplies 700 Oct 1 Oct 1 33,400 114 Service revenue 411 Building 40,000 Oct 1 Oct 1 2,100 Office furniture 116 Rent expense 511 Oct 1 2,900 Oct 1 700 Print Done Requirements - X 1. Journalize the transactions for the month of October. Explanations...
o Suppose Bargain Hardware sells merchandise on account, terms 2/10,n/60, for $1,200 (the cost of the...
o Suppose Bargain Hardware sells merchandise on account, terms 2/10,n/60, for $1,200 (the cost of the inventory is $320) on January 17, 2018. Bargain Hardware later received 400 of goods (cost, $100) as sales returns on January 21, 2018. The customer paid the balance due on January 26, 2018. Journalize the January 2018 transactions for Bargain Hardware assuming the "net" method is used (Record debits first, then credits Exclude explanations from any journal entries. Round your answers to the nearest...
Here is the ledger for Sandhill Co.. Cash Oct. 1 8,810 Oct. 4 2,210 Oct. 10...
Here is the ledger for Sandhill Co.. Cash Oct. 1 8,810 Oct. 4 2,210 Oct. 10 2,790 Oct. 12 3,310 Oct. 10 9,810 Oct. 15 400 Oct. 20 850 Oct. 30 450 Oct. 25 3,810 Oct. 31 650 Accounts Receivable Oct. 6 950 Oct. 20 850 Oct. 20 1,070 Supplies Oct. 4 2,210 Oct. 31 1,990 Equipment Oct. 3 4,810 Notes Payable Oct. 10 9,810 Accounts Payable Oct. 12 3,310 Oct. 3 4,810 Common Stock Oct. 1 8,810 Oct. 25...
Here is the ledger for Sandhill Co.. Cash Oct. 1 8,810 Oct. 4 2,210 Oct. 10...
Here is the ledger for Sandhill Co.. Cash Oct. 1 8,810 Oct. 4 2,210 Oct. 10 2,790 Oct. 12 3,310 Oct. 10 9,810 Oct. 15 400 Oct. 20 850 Oct. 30 450 Oct. 25 3,810 Oct. 31 650 Accounts Receivable Oct. 6 950 Oct. 20 850 Oct. 20 1,070 Supplies Oct. 4 2,210 Oct. 31 1,990 Equipment Oct. 3 4,810 Notes Payable Oct. 10 9,810 Accounts Payable Oct. 12 3,310 Oct. 3 4,810 Common Stock Oct. 1 8,810 Oct. 25...
- October 1 Sold $11,000 of merchandise to Pearsey Co, on account. October 3 Sold $2.400...
- October 1 Sold $11,000 of merchandise to Pearsey Co, on account. October 3 Sold $2.400 of merchandise to Borg Corporation, who paid by credit card. The cilit card company charges Beltran a fee of 1% on credit card sales October 7 Sold $19,000 of merchandise to McNab Company on account. October 8 Pearsey paid the balance of what it owed for the purchase on October 1 October 12 Sold $17.000 of merchandise to Wack Enterprises on account. October 16...
Cash Oct. 1 8,600 Oct.4 2,000 Oct. 10 2,580 Oct. 123,100 Oct. 10 9,600 Oct. 15...
Cash Oct. 1 8,600 Oct.4 2,000 Oct. 10 2,580 Oct. 123,100 Oct. 10 9,600 Oct. 15 370 Oct. 20 820 Oct. 30 420 Oct. 25 3,600 Oct. 31 620 Accounts Receivable Oct. 6 920 Oct. 20 820 Oct. 20 1,040 Oct. 4 Supplies 2,000 Oct. 31 Equipment 1,780 Oct. 3 4,600 Notes Payable Oct. 10 9,600 Accounts Payable Oct. 12 3,100 Oct. 3 4,600 Common Stock Oct. 1 8,600 Oct. 25 3,600 Dividends Oct. 30 420 Service Revenue Oct. 6...
More Info Oct 2 Johnson Services received $65,000 cash and issued common stock to the stockholders...
More Info Oct 2 Johnson Services received $65,000 cash and issued common stock to the stockholders 3 Purchased supplies, $700, and equipment, $12,300, on account. 4 Performed services for a customer and received cash, $5,700 7 Paid cash to acquire land, $35,000. 11 Performed services for a customer and billed the customer, $3,100. Johnson expects to collect within one month. 16 Paid for the equipment purchased October 3 on account. 17 Paid for newspaper advertising, $620 18 Received partial payment...
Exercise 3-1 Here is the ledger for Sandhill Co.. Oct. 1 Oct. 10 2,210 3,310 400...
Exercise 3-1 Here is the ledger for Sandhill Co.. Oct. 1 Oct. 10 2,210 3,310 400 Oct. 10 Oct. 20 450 Oct. 25 650 Oct. 6 850 Y Oct. 20 Cash 8,810 Oct. 4 2,790 Oct. 12 9,810 Oct. 15 850 Oct. 30 3,810 Oct. 31 Accounts Receivable 950 oct. 20 1,070 Supplies 2,210 Oct. 31 Equipment 4,810 Notes Payable Oct. 10 Accounts Payable 3,310 Oct. 3 Common Stock Oct. w Oct. 4 1,990 Oct. 3 9,810 Oct. 12 4,810...
Nov 4 Purchased $5,500 of merchandise on account from Salem Tire. Terms, 1/15, n/45, FOB shipping point. Salem Tire prepaid the $250 shipping cost and added the amount to the invoice. 7 Purchased $400 of supplies on account from Bargain Depot. Terms, 4/10, n/30, FOB destination. 9 Sold $900 (cost, $425) of merchandise on account to W. Furmick. Terms, 3/15, n/45, FOB destination. 11 Paid $75 freight charges to deliver goods to W. Furmick. 13 Returned $1,300 of the merchandise...
Nov 4 Purchased $5,700 of merchandise on account from Goodsale Tire. Terms, 1/15, n/45, FOB shipping point. Goodsale Tire prepaid the $75 shipping cost and added the amount to the invoice. 7 Purchased $500 of supplies on account from Office Sale. Terms, 3/10, n/30, FOB destination. 9 Sold $1,400 (cost, $400) of merchandise on account to F. Smith. Terms, 2/15, n/45, FOB destination. 11 Paid $40 freight charges to deliver goods to F. Smith. 13 Returned $1,100 of the merchandise...
Х Data Table Cash 111 Accounts payable 211 Oct 1 5,000 Oct 1 2,100 Accounts receivable 112 Notes payable 212 Oct 1 3,300 Oct 1 15,000 Print Done Data Table - 113 Common stock 311 Supplies 700 Oct 1 Oct 1 33,400 114 Service revenue 411 Building 40,000 Oct 1 Oct 1 2,100 Office furniture 116 Rent expense 511 Oct 1 2,900 Oct 1 700 Print Done Requirements - X 1. Journalize the transactions for the month of October. Explanations...
o Suppose Bargain Hardware sells merchandise on account, terms 2/10,n/60, for $1,200 (the cost of the inventory is $320) on January 17, 2018. Bargain Hardware later received 400 of goods (cost, $100) as sales returns on January 21, 2018. The customer paid the balance due on January 26, 2018. Journalize the January 2018 transactions for Bargain Hardware assuming the "net" method is used (Record debits first, then credits Exclude explanations from any journal entries. Round your answers to the nearest...
- October 1 Sold $11,000 of merchandise to Pearsey Co, on account. October 3 Sold $2.400 of merchandise to Borg Corporation, who paid by credit card. The cilit card company charges Beltran a fee of 1% on credit card sales October 7 Sold $19,000 of merchandise to McNab Company on account. October 8 Pearsey paid the balance of what it owed for the purchase on October 1 October 12 Sold $17.000 of merchandise to Wack Enterprises on account. October 16...
Cash Oct. 1 8,600 Oct.4 2,000 Oct. 10 2,580 Oct. 123,100 Oct. 10 9,600 Oct. 15 370 Oct. 20 820 Oct. 30 420 Oct. 25 3,600 Oct. 31 620 Accounts Receivable Oct. 6 920 Oct. 20 820 Oct. 20 1,040 Oct. 4 Supplies 2,000 Oct. 31 Equipment 1,780 Oct. 3 4,600 Notes Payable Oct. 10 9,600 Accounts Payable Oct. 12 3,100 Oct. 3 4,600 Common Stock Oct. 1 8,600 Oct. 25 3,600 Dividends Oct. 30 420 Service Revenue Oct. 6...
More Info Oct 2 Johnson Services received $65,000 cash and issued common stock to the stockholders 3 Purchased supplies, $700, and equipment, $12,300, on account. 4 Performed services for a customer and received cash, $5,700 7 Paid cash to acquire land, $35,000. 11 Performed services for a customer and billed the customer, $3,100. Johnson expects to collect within one month. 16 Paid for the equipment purchased October 3 on account. 17 Paid for newspaper advertising, $620 18 Received partial payment...
Exercise 3-1 Here is the ledger for Sandhill Co.. Oct. 1 Oct. 10 2,210 3,310 400 Oct. 10 Oct. 20 450 Oct. 25 650 Oct. 6 850 Y Oct. 20 Cash 8,810 Oct. 4 2,790 Oct. 12 9,810 Oct. 15 850 Oct. 30 3,810 Oct. 31 Accounts Receivable 950 oct. 20 1,070 Supplies 2,210 Oct. 31 Equipment 4,810 Notes Payable Oct. 10 Accounts Payable 3,310 Oct. 3 Common Stock Oct. w Oct. 4 1,990 Oct. 3 9,810 Oct. 12 4,810...
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