Use the following purchases journal to record the transactions. (If a box is not used in the journal leave the box empty; donot select any information and do not enter a zero. Abbreviation used: Supp. = Supplies)(Click the icon to view the transactions.)Date2024Oct.Oct. 1Post. Accounts Merchandise OfficeSupp.Account Credited Terms Ref. Payable CR Inventory DR DRBall Co.Milly Co.Mor Slip Co.VendorOct. 11Oct. 24Purchases JournalPurchased merchandise inventory on account with credit terms of 5/10, n/30 from Milly Co.,$3,000.Purchased office supplies on account from Ball Co., $650. Terms were n/EOM.Purchased furniture on account with credit terms of 3/10, n/60 from Slip Co., $1,700.PrintDonePage 6Other Accounts DRAccount Post.Title Ref. Amount

Purchase Journal is an accounting Journal which is specialized to record the purchase transactions…

Use the following purchases journal to record the transactions. (If a box is not used in the journal leave the box empty; de not select any information and do not enter a zero. Abbreviation used: Supp. = Supplies) i (Click the icon to view the transactions.) Date 2024 Oct. Oct. 1 Vendor Ball Co. Milly Co. Mor Slip Co. Oct. 11 Oct. 24 Purchases Journal Account Credited Terms Ref. Payable CR Inventory DR Post. Accounts Merchandise Office Supp. DR 4 Other Accounts DR Account Post. Title Ref. Amount Purchased merchandise inventory on account with credit terms of 5/10, n/30 from Milly Co., $3,000. Purchased office supplies on account from Ball Co., $650. Terms were n/EOM. Purchased furniture on account with credit terms of 3/10, n/60 from Slip Co., $1,700. Page - X

Use the following purchases journal to record the transactions. (If a box is not used in the journal leave the box empty; de not select any information and do not enter a zero. Abbreviation used: Supp. = Supplies) i (Click the icon to view the transactions.) Date 2024 Oct. Oct. 1 Vendor Ball Co. Milly Co. Mor Slip Co. Oct. 11 Oct. 24 Purchases Journal Account Credited Terms Ref. Payable CR Inventory DR Post. Accounts Merchandise Office Supp. DR 4 Other Accounts DR Account Post. Title Ref. Amount Purchased merchandise inventory on account with credit terms of 5/10, n/30 from Milly Co., $3,000. Purchased office supplies on account from Ball Co., $650. Terms were n/EOM. Purchased furniture on account with credit terms of 3/10, n/60 from Slip Co., $1,700. Page - X

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter12: Special Journals

Section: Chapter Questions

Problem 10SPA: PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS PAYABLE LEDGER The purchases journal of Kevins...

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PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS PAYABLE LEDGER The purchases journal of Kevins Kettle, a small retail business, is as follows: Required 1. Post the total of the purchases journal to the appropriate general ledger accounts. Use account numbers as shown in the chapter. 2. Post the individual purchase amounts to the accounts payable ledger.
Refer to RE6-3. Assume Long records accounts receivable and sales using the net price method. Prepare the related journal entries for Long.
JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning balance in Accounts Receivable is 3,900. Beginning balances in selected customer accounts are Adams, 850; Greene, 428; and Phillips, 1,018.
Use the following sales journal to record the transactions. All credit sales are terms of n/30. (If a box is not used in the journal leave the box empty; do not select information or enter a zero.) A (Click the icon to view the transactions.) Sales Journal Page 1 Invoice Customer Post. Accounts Receivable DR Cost of Goods Sold DR More Info Date No. Account Debited Ref. Sales Revenue CR Merchandise Inventory CR 2024 Jun. 1 Sold merchandise inventory on account to Flynn Jackson, $1,240. Cost of goods, $920. Invoice no. 101. Jun. Sold merchandise inventory on account to Irene Far, $2,050. Cost of goods, $1,630. Invoice no. 102. Jun. 8 Jun. 13 Sold merchandise inventory on account to Jason Trip, $320. Cost of goods, $230. Invoice no. 103 Jun. 28 Sold merchandise inventory on account to Grace Wright, $840. Cost of goods, $640. Invoice no. 104. Print Done
Use the following sales journal to record the transactions. All credit sales are terms of n/30. (If a box is not used in the journal leave the box empty; do not select information or enter a zero.) A (Click the icon to view the transactions.) Sales Journal Page Invoice Customer Post. Accounts Receivable DR Cost of Goods Sold DR Date No. Account Debited Ref. Sales Revenue CR Merchandise Inventory CR 2024 Jun. More Info Jun. 1 Sold merchandise inventory on account to Fred Jig, $1,270. Cost of goods, $1,000. Invoice no. 101. Jun. 8 Sold merchandise inventory on account to lan Frog, $2,225. Cost of goods, $1,580. Invoice no. 102. Jun. 13 Sold merchandise inventory on account to Jillian Trump, $380. Cost of goods, $300. Invoice no. 103. Jun. 28 Sold merchandise inventory on account to Glen Whitney, $900. Cost of goods, $610. Invoice no. 104. Print Done
Identify Postings from Purchases Journal Using the following purchases journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required: PURCHASES JOURNAL Page 49 Date Account Credited Post.Ref. AccountsPayableCr. StoreSuppliesDr. OfficeSuppliesDr. OtherAccountsDr. Post.Ref. Amount 20Y9 Jan. 4 Coastal Equipment Co. (a) 5,325 Warehouse Equipment (g) 5,325 Jan. 6 Arrow Supply Co. (b) 4,000 4,000 Jan. 9 Valley Products (c) 1,875 1,600 275 Jan. 14 Office Warehouse (d) 2,200 Office Equipment (h) 2,200 Jan. 20 Office Warehouse (e) 6,000 Store Equipment (i) 6,000 Jan. 25 Metro Supply Co. (f) 2,740 2,740 Jan. 30 22,140 4,340 4,275 13,525 (j) (k) (l) (m) Post reference represents: a. b. c.…
Suidd ping Sear Corporat... When merchandise purchased on account is returned under the perpetual inventory system, the buyer would debit O Accounts Receivable Accounts Payable Purchases Returns and Allowances O Inventory Next Previous Email Instructor
Required information [The following information applies to the questions displayed below.] Home Hardware reported beginning inventory of 35 shovels, for a total cost of $175. The company had the following transactions during the month: Sold 9 shovels on account at a selling price of $10 per unit. January 2 January 16 Sold 12 shovels on account at a selling price of $10 per unit. January 18 Bought 4 shovels on account at a cost of $5 per unit. January 19 Sold 12 shovels on account at a selling price of $10 per unit. January 24 Bought 12 shovels on account at a cost of $5 per unit. January 31 Counted inventory and determined that 15 units were on hand.
a. Journalize Sayers' entries to record the sale, using the net method under a perpetual inventory system. If an amount box does not require an. entry, leave it blank. Accounts Receivable V 88,200 Sales v 88,200 Cost of Goods Sold v 6,100 Inventory 6,100 b. Journalize the receipt of payment within the discount period. If an amount box does not require an entry, leave it blank. Cash v 88,200 Accounts Receivable 88,200 c. Journalize the entry to record the receipt of payment beyond the discount period of 10 days. If an amount box does not require an entry, leave it blank. Cash v 90,000 Accounts Receivable v 1,800 Sales v 88,200
Complete this question by entering your answers In the tabs below. Required 1 Required 2 Prepare the appropriate journal entry for each of these transactions. Do not record cost of goods sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollar.) www Vlew transaction Ilist Journal entry worksheet 2. 3. 4 9. Sold two items of merchandise to Customer B, who charged the $570 sales price on her Visa credit card. Visa charges Hailey a 2 percent credit card fee. Note: Enter debits before credits. Date General Journal Debit Credit November 20 Vlew general Journal Clear entry Record entry 5,
Using the following purchases journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required: Page 49 PURCHASES JOURNAL Other Accounts Dr. Accounts Store Office Post. Payable Supplies Supplies Dr. Post. Date Account Credited Ref. Cr. Dr. Ref. Amount 20Υ9 Warehouse Equipment (g) Jan. 4 Coastal Equipment Co. (a) 5,325 5,325 Arrow Supply Co. (b) 4,000 6 4,000 9 Valley Products (c) 1,875 1,600 275 Office Equipment Store Equipment 14 Office Warehouse (d) (h) 2,200 2,200 20 Office Warehouse (e) 6,000 (i) 6,000 25 Metro Supply Co. (f) 2,740 2,740 4,275 22,140 31 4,340 13,525 (j) (k) (1) (m)
Select all that apply A partial Sales Journal for ABC Co. is shown below. Show how to post these transactions into the general ledger by selecting the correct actions below. (Check all that apply.) Account Debited PR Accounts Receivable Dr. Sales Cr. Cost of Goods Sold Dr. Inventory Cr. Sparky's 1000 300 Q-Mart 3,500 800 Totals $4,500 $1,100 Multiple select question. A $4,500 credit is posted to the Sales account in the general ledger. An $1,100 debit is posted to the Cost of Goods Sold account in the general ledger. The account number of the Sales account is entered below the Accounts Receivable Dr./Sales Cr. column. A $1,000 debit is posted to the Accounts Receivable account in the general ledger on Mar. 4. An "S" is posted in the PR columns of the general ledger after posting is completed. A check mark is posted in the PR columns of the general ledger after posting is completed.