Ch 5 and 6 Procopy Practice

.pdf

School

University of South Florida *

*We aren’t endorsed by this school

Course

2021

Subject

Accounting

Date

Jun 14, 2024

Type

pdf

Pages

4

Uploaded by PrivatePowerSeal65

A AAAAAAAA AR R R 2R 2 R R R 2RI ACG 2021 Jennifer Cainas Review of Periodic and Perpetual Journal Entries Prepare the necessary journal entries: Part 1: (perpetual) Wendy’s Wedding Dresses purchased 5 wedding dresses from her supplier on credit, for a cost of $1,500, terms 3/15, n./30. She uses a perpetual inventory system. Wendy noticed one of the dresses had a stain, and returned it to the supplier. The cost of the dress was $250. Wendy paid $100 in shipping to have to dresses shipped into the store. Wendy pays the supplier the amount owed, within the discount period. Wendy sells a wedding dress to a customer (for cash) for $1,200. The cost of the dress was $300. 34
ifer Ca ACG 2021 Jennifer Cainas nts it shipped to West Palm Beach, for $2,000. The customer Wendy sells a dress to a customer that wa ” fee was charged by the credit card company. The uses a Visa Card to pay for the transaction, and a 2% cost of the dress was $550. o the store, because she called of the engagement. The and the cost was $300. The customer was refunded the Wendy returned the dress to A customer of Wendy’s returned her dress t original sales price of the dress was $1,000, money in cash. Because the dress had not been altered or worn, inventory. Part 2 (periodic): Wendy’s Wedding Dresses purchased 5 wedding dresses from her supplier on credit, for a cost of $1,500, terms 3/15, n./30. She uses a periodic inventory system. Wendy noticed one of the dresses had a stain, and returned it to the supplier. The cost of the dress was $250. Wendy paid $100 in shipping to have to dresses shipped into the store. 35
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education
SEE MORE TEXTBOOKS
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education
SEE MORE TEXTBOOKS