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Problems3: pril 30, 2008 The transactions in 200x July below: 01: Investment by cash 18,000s. 02: Paid office renta...
The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for...
The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for the firm during June 2019 are listed below, as are the general ledger accounts used to record these transactions. GENERAL LEDGER ACCOUNTS 101 Cash $ 21,900 Dr. 131 Equipment 66,000 Dr. 201 Notes Payable 205 Accounts Payable 4,980 Cr. 501 Purchases 503 Purchases Ret. and Allow. 504 Purchases Discounts 611 Rent Expense 614 Salaries Expense 617 Telephone Expense DATE TRANSACTIONS June 1 Issued Check...
Any help would be appreciated! All required for answer is there. These transactions need to be journalized in the following accounts: Cash, Accounts Receivable, Inventory, Store Supplies, Offi...
Any help would be appreciated! All required for answer is
there.
These transactions need to be journalized in the following
accounts: Cash, Accounts Receivable, Inventory, Store Supplies,
Office Supplies, Office Equipment, Notes Payable, Accounts Payable,
F. Stone, Capital, Sales, Sales Discounts, Costs of Goods Sold, and
Sales Salaries Expense.
- Also need the following accounts receivable ledger accounts:
Carl Cole, Dale Dent, and Gary Glen.
- Open the following accounts payable ledger accounts: Able
Company, Best Company, More Company, and...
During May, the last month of the fiscal year, the following transactions were completed: 1. Paid...
During May, the last month of the fiscal year, the following transactions were completed: 1. Paid rent for May, $5,000. 3. Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. 4. Paid freight on purchase of May 3, $600. 6. Sold merchandise on account to Korman Co., terms 2/10, n/30, FOB shipping point, $68,500. The cost of the goods sold was $41,000. 7. Received $22,300 cash from Halstad Co. on account. 10. Sold merchandise for...
During May, the last month of the fiscal year, the following transactions were completed: 1. Paid...
During May, the last month of the fiscal year, the following transactions were completed: 1. Paid rent for May, $5,000. 3. Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. 4. Paid freight on purchase of May 3, $600. 6. Sold merchandise on account to Korman Co., terms 2/10, n/30, FOB shipping point, $68,500. The cost of the goods sold was $41,000. 7. Received $22,300 cash from Halstad Co. on account. 10. Sold merchandise for...
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...
Bridgeport Hardware Store Inc. completed the following merchandising transactions in the month of May 2018. At...
Bridgeport Hardware Store Inc. completed the following merchandising transactions in the month of May 2018. At the beginning of May, Bridgeport’s ledger showed Cash of $7,500 and Common Shares of $7,500. Post the transactions to T accounts. (Post entries in the order of journal entries presented in the question.) May 1 Purchased merchandise on account from Hilton Wholesale Supply for $7,500, terms 2/10, n/30. 2 Sold merchandise on account for $4,300, terms 3/10, n/30. The cost of the merchandise sold...
Latona Hardware store completed the following merchandising transactions in the month of May. At the beginning...
Latona Hardware store completed the following merchandising
transactions in the month of May. At the beginning of May, the
ledger of Latona Hardware showed cash of $5,000 and Common Stock of
$5,000.
Enter the beginning cash and common stock balances and post
the transactions.
Problem 5-2A Latona Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Latona Hardware Store showed Cash of $5,000 and Common Stock of $5,000. May...
Problem 5-2A Latona Hardware Store completed the following merchandising transactions in the month of May. At...
Problem 5-2A Latona Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Latona Hardware Store showed Cash of $5,000 and Common Stock of $5,000. May 1 Purchased merchandise on account from Gray's Wholesale Supply $4,200, terms 2/10, n/30. 2 Sold merchandise on account $2,100, terms 1/10, n/30. The cost of the merchandise sold was $1,300. 5 Received credit from Gray's Wholesale Supply for merchandise returned $300. 9 Received collections...
13.Beeler Company paid $1,250 cash on freight for inventory purchased from Taylor Inc. What is the...
13.Beeler Company paid $1,250 cash on freight for inventory purchased from Taylor Inc. What is the journal entry Beeler Co. should record for the freight costs if the goods were shipped FOB Shipping Point? A Debit Inventory, Credit Cash B. Debit Inventory, Credit Transportation Revenue Debit Transportation Out Expense, Credit Cash Debit Transportation Out Expense, Credit Cost of Goods Sold E. No entry is needed by Beeler Co. 14. Alfa company returns merchandise previously purchased on account. Alfa didn't pay...
ChP. 7-01
Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May. May2Sold merchandise costing $410 to B. Facer for $615 cash, invoice no. 5703.5Purchased $2,250 of merchandise on credit from Marchant Corp.7Sold merchandise costing $1,107 to J. Dryer for $1,605, terms 3/10, n/30, invoice no. 5704.8Borrowed $8,000 cash by signing a note payable to the bank.12Sold merchandise costing $277 to R. Lamb...
Any help would be appreciated! All required for answer is
there.
These transactions need to be journalized in the following
accounts: Cash, Accounts Receivable, Inventory, Store Supplies,
Office Supplies, Office Equipment, Notes Payable, Accounts Payable,
F. Stone, Capital, Sales, Sales Discounts, Costs of Goods Sold, and
Sales Salaries Expense.
- Also need the following accounts receivable ledger accounts:
Carl Cole, Dale Dent, and Gary Glen.
- Open the following accounts payable ledger accounts: Able
Company, Best Company, More Company, and...
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...
Latona Hardware store completed the following merchandising
transactions in the month of May. At the beginning of May, the
ledger of Latona Hardware showed cash of $5,000 and Common Stock of
$5,000.
Enter the beginning cash and common stock balances and post
the transactions.
Problem 5-2A Latona Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Latona Hardware Store showed Cash of $5,000 and Common Stock of $5,000. May...
Problem 5-2A Latona Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Latona Hardware Store showed Cash of $5,000 and Common Stock of $5,000. May 1 Purchased merchandise on account from Gray's Wholesale Supply $4,200, terms 2/10, n/30. 2 Sold merchandise on account $2,100, terms 1/10, n/30. The cost of the merchandise sold was $1,300. 5 Received credit from Gray's Wholesale Supply for merchandise returned $300. 9 Received collections...
13.Beeler Company paid $1,250 cash on freight for inventory purchased from Taylor Inc. What is the journal entry Beeler Co. should record for the freight costs if the goods were shipped FOB Shipping Point? A Debit Inventory, Credit Cash B. Debit Inventory, Credit Transportation Revenue Debit Transportation Out Expense, Credit Cash Debit Transportation Out Expense, Credit Cost of Goods Sold E. No entry is needed by Beeler Co. 14. Alfa company returns merchandise previously purchased on account. Alfa didn't pay...
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