Homework Answers
| Date | Account | Debit | Credit |
| Oct 15 | Inventory | $3,900 | |
| Accounts Payable | 3,900 | ||
| (to record inventory purchased) |
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On October 15, 2018, Chandler's Department Store purchased 53,900 of inventory on account from one of...
1 of 5 (0 complete) Journalize the following transactions for Roger's Computer, Inc., that occurred during...
1 of 5 (0 complete) Journalize the following transactions for Roger's Computer, Inc., that occurred during the month of March. Assume the "net" method is used credits. Exclude explanations from any journal entries.) (Click the icon to view the transactions.) Start by journalizing the purchase of merchandise on account Date Journal Entry Mar Accounts Debit Credit Mar 3 Purchased $4,300 of merchandise on account, terms 3/10, n/30, FOB shipping point. The supplier prepaid freight charges of $125 and added the...
Journalize the following transactions that occurred in September 2018 for Red Hawk, assuming the perpetual inventory...
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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...
Sep 3 Purchased merchandise inventory on account from Shallin Wholesalers, $ 5 comma 200. Terms 1/15,...
Sep 3 Purchased merchandise inventory on account from Shallin Wholesalers, $ 5 comma 200. Terms 1/15, n/EOM, FOB shipping point. 4 Paid freight bill of $ 65 on September 3 purchase. 4 Purchase merchandise inventory for cash of $ 2 comma 200. 6 Returned $ 1 comma 200 of inventory from September 3 purchase. 8 Sold merchandise inventory to Hillis Company, $ 5 comma 500, on account. Terms 1/15, n/35. Cost of goods, $ 2 comma 310. 9 Purchased merchandise...
Sep. 3 Purchased merchandise inventory on account from Sheldon Wholesalers,
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Journalize the following transactions that occurred in September 2018 for Water Works, assuming the perpetual inventory...
Journalize the following transactions that occurred in September 2018 for Water Works, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Water Works estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount.) (Click the icon to view the transactions.)Sep. 3 Purchased merchandise inventory on account...
Presented here are selected transactions for Shaoshi Inc. during October of the current year. Shaoshi uses a perpetual inventory system.
Oct. 1Purchased merchandise on account from Micron Ltd. at a cost of $86,000, terms 1/15, n/30, FOB shipping point.1Freight charges of $1,400 were paid by the appropriate party on the October 1 purchase of merchandise.2Returned for credit $4,000 of damaged goods purchased from Micron on October 1.6Purchased supplies for $2,800 cash.8Sold the remaining merchandise purchased from Micron to Guidant Corp. for $140,000 on account, terms 2/10, n/30, FOB destination.9Freight charges of $2,300 were paid by the...
Please Show All Your Calculations for Your Response: More Info Jul 4 Wholesale Furnishings purchased $8,000...
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...
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...
On July 14, 2018, Salem Food Wholesale, Inc., sold $2,700 of inventory (cost is $1.050) on...
On July 14, 2018, Salem Food Wholesale, Inc., sold $2,700 of inventory (cost is $1.050) on account to one of its customers. The terms were 2/10,n/30, FOB destination. On July 16, Salem Food Wholesale, Inc., paid freight charges of $115 related to the delivery of the goods sold on July 14. On July 20, 5800 of goods (cost Is 5285) were returned by the customer. On July 23, Salem Food Wholesale, Inc. received payment in full from the customer Read...
1 of 5 (0 complete) Journalize the following transactions for Roger's Computer, Inc., that occurred during the month of March. Assume the "net" method is used credits. Exclude explanations from any journal entries.) (Click the icon to view the transactions.) Start by journalizing the purchase of merchandise on account Date Journal Entry Mar Accounts Debit Credit Mar 3 Purchased $4,300 of merchandise on account, terms 3/10, n/30, FOB shipping point. The supplier prepaid freight charges of $125 and added the...
Journalize the following transactions that occurred in September 2018 for Red Hawk, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Red Hawk estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount) (Click the icon to view the transactions.) More Info More Info Sep. ing:...
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...
Sep. 3 Purchased merchandise inventory on account from Sheldon Wholesalers, $ 3,500. Terms 1 / 15, n / E O M, FOB shipping point.4 Paid freight bill of $ 75 on September 3 purchase.4 Purchase merchandise inventory for cash of $ 1,900.6 Returned $ 400 of inventory from September 3 purchase.8 Sold merchandise inventory to Harvey Company, $ 6,300, on account. Terms 1 / 15, n / 35. Cost of goods, $ 2,8359 Purchased merchandise inventory on account from Tripp...
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...
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...
On July 14, 2018, Salem Food Wholesale, Inc., sold $2,700 of inventory (cost is $1.050) on account to one of its customers. The terms were 2/10,n/30, FOB destination. On July 16, Salem Food Wholesale, Inc., paid freight charges of $115 related to the delivery of the goods sold on July 14. On July 20, 5800 of goods (cost Is 5285) were returned by the customer. On July 23, Salem Food Wholesale, Inc. received payment in full from the customer Read...
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