Ch 5 and 6 Procopy Practice

Current Attempt in Progress Prepare the journal entries to record the following purchase transactions in Ayayai Inc's books. Ayayai uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Jan. 2 Ayayai purchased goods for $53,100 from Fundy Corp., terms n/45, FOB destination. The appropriate company paid freight costs of $1,100. 6 Ayayai returned $7,080 of the goods purchased on January 2, because they were not needed. 11 Ayayai paid the balance owed to Fundy. Date Account Titles and Explanation Debit Credit

Asset Cost: Less: Residual Value Depreciable Amount Depreciation method Depreciation p.a: Date 30/06/2018 30/06/2019 30/06/2020 Computers Depreciation Worksheet - Snow Lake Pty Ltd $66,000 $ N/A $66,000 Reducing Balance (Diminishing Balance) 30% Asset Cost $66,000 46,200 32,340 Depreciation $19,800 13,860 9,702 Accumulated Depreciation $19,800 33,660 43,362 Carrying Amount at the end $46,200 32,340 22,638 20 2014 2015 14200 1444

Subject: acounting

On May 2, you paid Carolina Mfg. (account number C354) for inventory purchased on Apr. 27 for $1,000. Carolina Mfg. offered terms of 2/10, n/30. Use check #8024.

Using T accounts can you please explain the answer and why each entry goes where please the answe is 937050

Prepare journal entries for the SALES (Jane, seller) side of the purchase transactions above: October 1: Jane sold $1,000 of goods on account. Terms of the sale are 4/10, n 30. The invoice is dated October 1. Assume the cost of the inventory to Jane (amount she purchased it for) is $700. Record Jane’s entry. 1: Perpetual 2:Periodic October 7: Jake returned $50 of the $1,000 of goods from the October 1 purchase and received full credit. The cost of this inventory to Jane is $30. Record Jane’s entry. 1: Perpetual 2: Periodic October 11: Jake paid the amount due from the October 1 purchase, less the return on October 7. Record Jane’s entry. 1: Perpetual 2:Periodic October 3: Jake paid Jane $30 cash for freight charges from UPS for the October 1 purchase. Record Jane’s entry. 1: Perpetual 2: Periodic

Good day , please may you assist with a creditors journal and creditors allowance journal , the second image shows the format in which it needs to be done

Help

PA12. LO 6.7 Review the following transactions for Birdy Birdhouses and record any required journal entries. Sep. 6 Sep. 8 Birdy Birdhouses purchases 57 birdhouses at $46 each with cash. Birdy Birdhouses purchases 94 birdhouses at $44 each on credit. Terms of the purchase are 2/10, n/30, invoice date September 8. Birdy discovers 12 of the birdhouses are damaged from the Sep. 6 purchase and returns them to the supplier for a full refund. Birdy also discovers that 11 of the birdhouses from the Sep. 8 purchase are painted the wrong color but keeps them since the supplier granted an allowance of $136. Birdy pays their account in full from the September 8 purchase, less any returns, allowances, and/or discounts. Sep. 10 Sep. 18

Please do not give solution in image format thanku

Record in journal form the following transaction: Bought goods on credit for $4,500 from Andrew 23 December 2019, terms 10/10, n/30. Paid for them 31 December 2019.

Prepare the entries for transaction below and indicate what journal it is 21 august issued a $600 credit memo to ultracity co. For an allowance on good sold on august 19, 2020

TB MC Qu. 8-53 (Algo) Alison's dress shop buys dresses from... Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an invoice with a list price amount of $5,100 and payment terms of 2/10, n/30. Alison uses the net method to record purchases. Alison should record the purchase at: Multiple Choice O O $2,499. $5,100. $5,202. $4,998.

Using all journals This problem continues the Crystal Clear Cleaning practice set begun in Chapter 2 and continued through Chapters 3 and 4. Crystal Clear Cleaning has decided that, in addition to providing cleaning services, it will sell cleaning products. Crystal Clear uses the perpetual inventory system. During December 2018, Crystal Clear completed the following transactions: Requirements Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No. column), a cash receipts journal (omit Sales Discounts Forfeited column), a purchases journal, a cash payments journal (omit the Check No. column), and a general journal. Total each column of the special journals. Show that total debits equal total credits in each special journal.

PA3. 12.2 Review the following transactions, and prepare any necessary journal entries for Renovation Goods. A. On May 12, Renovation Goods purchases 750 square feet of flooring (Flooring Inventory) at $3.00 per square foot from a supplier, on credit. Terms of the purchase are 2/10, n/30 from the invoice date of May 12. B. On May 15, Renovation Goods purchases 200 measuring tapes (Tape Inventory) at $5.75 per tape from a supplier, on credit. Terms of the purchase are 4/15, n/60 from the invoice date of May 15. C. On May 22, Renovation Goods pays cash for the amount due to the flooring supplier from the May 12 transaction. D. On June 3, Renovation Goods pays cash for the amount due to the tape supplier from the May 15 transaction.

Please do not give solution in image format thanku

answer step by step

View Policies Current Attempt in Progress Your accounts receivable clerk, Helen Adams, to whom you pay a salary of $1,540 per month, has just purchased a new Acura. You decide to test the accuracy of the accounts receivable balance of $85,700 as shown in the ledger. The following information is available for your first year in business. Collections from customers Merchandise purchased (1) (2) (3) Ending merchandise inventory (4) Goods are marked to sell at 40% above cost $196,400 321,300 98,550 Compute an estimate of the ending balance of accounts receivable from customers that should appear in the ledger and any apparent shortages. Assume that all sales are made on account. The ending balance of accounts receivable from customers $ Apparent shortage