Indicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases jou...
Indicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases journal.
- Paid a creditor on account.
Cash Payments - Bought merchandise on account.
Sales - Sold merchandise for cash.
Cash Receipts - Adjusted for insurance expired.
General Journal - Received payment on account from a charge customer.
Cash Receipts - Received a credit memo for merchandise returned.
General Journal - Bought equipment on credit.
General Journal - Sold merchandise on account.
Cash Receipts - Recorded a customer's NSF check.
General Journal - Invested personal noncash assets in the business.
General Journal - Withdrew cash for personal use.
General Journal
Homework Answers
- Paid a creditor on account.
Cash Payments Journal - Bought merchandise on account.
Purchase journal - Sold merchandise for cash.
Cash Receipts journal - Adjusted for insurance expired.
General Journal - Received payment on account from a charge customer.
Cash Receipts journal - Received a credit memo for merchandise returned.
General Journal - Bought equipment on credit.
General Journal - Sold merchandise on account.
Sales journal - Recorded a customer's NSF check.
General Journal - Invested personal non cash assets in the business.
General Journal - Withdrew cash for personal use.
Cash disbursement journal
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Indicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases jou...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal C) General journal D) Cash receipts journal 22. All of the column totals in the cash receipts journal are posted to general ledger accounts except the A) Accounts Receivable column total. B) Cash column total. C) Sales column total. D) Other Accounts column total. 23. The entries in a sales journal will show A) all sales of merchandise. B) the cash sales of the...
Sesion Timeout du/courses/36916/assignments/321836?module_item_id-365246 Below are some typical transactions incurred by Ricketts Company For each transaction, indicate...
Sesion Timeout du/courses/36916/assignments/321836?module_item_id-365246 Below are some typical transactions incurred by Ricketts Company For each transaction, indicate whether it would normally be recorded in a cash receipts Journal, cash payments journal, sales journal, si column purchases journal, or general Journal Journals Transactions 1. Payment of creditors on account. 2. Return of merchandise sold for credit 3. Collection on account from customers 4. Sale of land for cash. 5. Sale of merchandise on account. 6. Sale of merchandise for cash 7. Received...
Prepare a cash receipt journal and a general journal Sales Journal, Cash Receipts Journal, and General...
Prepare a cash receipt journal and a general journal
Sales Journal, Cash Receipts Journal, and General Journal Owens Distributors is a retail business. The follow Mar. 1 Sold merchandise to Able & Co., $1,830, plus sales tax. Sale No. 33C ng sales, returns, and cash receipts occurred during March 20-.. There is an 8% sales tax. Beginning general ledger account e, $1058.25. Beginning customer account balances were Thompson Group, $1058.25. 3 Sold merchandise to R. J. Kalas, Inc., $2,203, plus...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks...
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Name: ranch of the April transactions identify the journal in which it would be recorded. Assume...
Name: ranch of the April transactions identify the journal in which it would be recorded. Assume the mpany uses a sales journal, purchases journal, cash receipts journal, cash disbursements ournal, and general journal as illustrated in this chapter Apr 3 Purchased merchandise for $2,950 on credit, terms 2/10, n/30. 9 Issued check to buy store supplies for $650. 12 Sold merchandise costing $500 on credit for $770, terms n/30. 17 Issued check for $1,400 to pay off a note payable....
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Hel Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general...
Hel Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. May 1 Purchased $11,100 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $940 to G. Seles for $1,700 on credit subject to a $32 sales discount if paid by the end of the month. 14 Purchased $260 of store supplies from Chang Company on credit, terms...
Li Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general...
Li Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash receipts journal. May 1 c. Li, the owner, contributed $9,800 cash to the company. 7 The company purchased $5,800 of merchandise on credit from Gomez, terms n/30. 9 The company sold merchandise costing $600 on credit to E. James for $700, terms n/10. 15 The company borrowed $3,000 cash by signing a...
The following are transactions for Bill for the month of October. Indicate how the following transactions...
The following are transactions for Bill for the month of October. Indicate how the following transactions would be recorded by completing the necessary journal entries as appropriate (omit explanations). Also post to the General Journal, General Ledger, and Subsidiary Ledgers as appropriate. Bill invested $20,000 in his business. Sold $2,500 of merchandise on account to H. Baxter, sales invoice No. 1, terms Sold $1,200 of merchandise on account to T. Toms, sales invoice No. 2, terms Nov. 1 Nov. 3...
Introduction to Accounting Problem #3) Special Journals The alex Company books and records consist of the...
Introduction to Accounting Problem #3) Special Journals The alex Company books and records consist of the following Journals: a sales Journal (S), a Purchases Journal (P), a Cash Receipts journal (CR), a Cash Payments journal (CP), and a General Journal (J). They also have a General Ledger and two subsidiary ledgers: - Accounts Receivable Subsidary Ledger and - Accounts Payable Subsidary Ledger. REQUIRED: 1) Indicate in which journal each of the following transactions would be recorded; and 2) Indicate which...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal C) General journal D) Cash receipts journal 22. All of the column totals in the cash receipts journal are posted to general ledger accounts except the A) Accounts Receivable column total. B) Cash column total. C) Sales column total. D) Other Accounts column total. 23. The entries in a sales journal will show A) all sales of merchandise. B) the cash sales of the...
Sesion Timeout du/courses/36916/assignments/321836?module_item_id-365246 Below are some typical transactions incurred by Ricketts Company For each transaction, indicate whether it would normally be recorded in a cash receipts Journal, cash payments journal, sales journal, si column purchases journal, or general Journal Journals Transactions 1. Payment of creditors on account. 2. Return of merchandise sold for credit 3. Collection on account from customers 4. Sale of land for cash. 5. Sale of merchandise on account. 6. Sale of merchandise for cash 7. Received...
Prepare a cash receipt journal and a general journal
Sales Journal, Cash Receipts Journal, and General Journal Owens Distributors is a retail business. The follow Mar. 1 Sold merchandise to Able & Co., $1,830, plus sales tax. Sale No. 33C ng sales, returns, and cash receipts occurred during March 20-.. There is an 8% sales tax. Beginning general ledger account e, $1058.25. Beginning customer account balances were Thompson Group, $1058.25. 3 Sold merchandise to R. J. Kalas, Inc., $2,203, plus...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks received should be recorded in the cash receipts prelist prior to entry in the cash receipts journal Make sure to update the accounts receivables subledger if applicable November 10-BrawnyFinch Corp. purchased $46,213.00 worth of merchandise on account (invoice #527). Terms of the sale were 2/10 net 30 November 11- Thistlecadenza returned $12,014.00 worth of merchandise purchased on account. The credit memo number is 31...
Name: ranch of the April transactions identify the journal in which it would be recorded. Assume the mpany uses a sales journal, purchases journal, cash receipts journal, cash disbursements ournal, and general journal as illustrated in this chapter Apr 3 Purchased merchandise for $2,950 on credit, terms 2/10, n/30. 9 Issued check to buy store supplies for $650. 12 Sold merchandise costing $500 on credit for $770, terms n/30. 17 Issued check for $1,400 to pay off a note payable....
Hel Peachtree Company uses sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. May 1 Purchased $11,100 of merchandise on credit from Krause, Inc., terms n/30. 8 Sold merchandise costing $940 to G. Seles for $1,700 on credit subject to a $32 sales discount if paid by the end of the month. 14 Purchased $260 of store supplies from Chang Company on credit, terms...
Li Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the cash receipts journal. May 1 c. Li, the owner, contributed $9,800 cash to the company. 7 The company purchased $5,800 of merchandise on credit from Gomez, terms n/30. 9 The company sold merchandise costing $600 on credit to E. James for $700, terms n/10. 15 The company borrowed $3,000 cash by signing a...
The following are transactions for Bill for the month of October. Indicate how the following transactions would be recorded by completing the necessary journal entries as appropriate (omit explanations). Also post to the General Journal, General Ledger, and Subsidiary Ledgers as appropriate. Bill invested $20,000 in his business. Sold $2,500 of merchandise on account to H. Baxter, sales invoice No. 1, terms Sold $1,200 of merchandise on account to T. Toms, sales invoice No. 2, terms Nov. 1 Nov. 3...
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