Merchandisers. e the journal entries by determining the correct account and amounts of nur in parenthesis. ur answers by itemizing the number per date of transaction. line per item. another item, press enter. ble solved item for August 1. ITAL LETTERS for account titles and put peso sign (P) for all amounts. Capital P 300,000.00
Merchandisers. e the journal entries by determining the correct account and amounts of nur in parenthesis. ur answers by itemizing the number per date of transaction. line per item. another item, press enter. ble solved item for August 1. ITAL LETTERS for account titles and put peso sign (P) for all amounts. Capital P 300,000.00
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter12: Special Journals
Section: Chapter Questions
Problem 1MC: The first step in posting the sales journal to the general ledger is to
total and verify the...
Related questions
Question
Complete the income statement for Vilrose Merchandisers
![The following ledger balances for April 2022 are taken from the books of
Vilrose
Merchandisers.
Complete the journal entries by determining the correct account and amounts of numbered items
enclosed in parenthesis.
Input your answers by itemizing the number per date of transaction.
Use one line per item.
To input another item, press enter.
See sample solved item for August 1.
Use CAPITAL LETTERS for account titles and put peso sign (P) for all amounts.
Vilrose, Capital
P
300,000.00
Vilrose, Drawing
P
55,000.00
Sales
P
300,000.00
Sales Returns and Allowances
P
4,000.00
Merchandise Inventory, End
P
7,000.00
Purchases
P
250,000.00
Freight-In
P
5,000.00
Purchase Returns and Allowances P
9,000.00
Purchase Discount
P
5,000.00
Salaries Expense
P
17,000.00
Insurance Expense
P
15,000.00
Utilities Expense
P
3,000.00
Bad Debts Expense
P
3,000.00
Depreciation Expense
P
2,000.00
Merchandise Inventory, Beginning P
20,000.00
Rent Payable
P
10,000.00
Interest Expense
P
7,000.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe5fb8ec7-7823-4dc2-86ac-d84d862360ff%2F007ba976-77ff-4b8b-ade7-63c9e1582eb3%2Fj4528iq_processed.png&w=3840&q=75)
Transcribed Image Text:The following ledger balances for April 2022 are taken from the books of
Vilrose
Merchandisers.
Complete the journal entries by determining the correct account and amounts of numbered items
enclosed in parenthesis.
Input your answers by itemizing the number per date of transaction.
Use one line per item.
To input another item, press enter.
See sample solved item for August 1.
Use CAPITAL LETTERS for account titles and put peso sign (P) for all amounts.
Vilrose, Capital
P
300,000.00
Vilrose, Drawing
P
55,000.00
Sales
P
300,000.00
Sales Returns and Allowances
P
4,000.00
Merchandise Inventory, End
P
7,000.00
Purchases
P
250,000.00
Freight-In
P
5,000.00
Purchase Returns and Allowances P
9,000.00
Purchase Discount
P
5,000.00
Salaries Expense
P
17,000.00
Insurance Expense
P
15,000.00
Utilities Expense
P
3,000.00
Bad Debts Expense
P
3,000.00
Depreciation Expense
P
2,000.00
Merchandise Inventory, Beginning P
20,000.00
Rent Payable
P
10,000.00
Interest Expense
P
7,000.00
![Net Sales
(2)
Gross Profit
Operating Expenses:
Salaries Expense
Insurance Expense
Utilities Expense
Bad Debts Expense
Depreciation Expense
Interest Expense
(6)
VILROSE MERCHANDISERS
Income Statement
For the Year Ended April 30, 2022
P
P
P
P
P
P
17,000.00
15,000.00
3,000.00
3,000.00
2,000.00
7,000.00
(1)
(3)
(4)
(7)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe5fb8ec7-7823-4dc2-86ac-d84d862360ff%2F007ba976-77ff-4b8b-ade7-63c9e1582eb3%2F0nfm46s_processed.png&w=3840&q=75)
Transcribed Image Text:Net Sales
(2)
Gross Profit
Operating Expenses:
Salaries Expense
Insurance Expense
Utilities Expense
Bad Debts Expense
Depreciation Expense
Interest Expense
(6)
VILROSE MERCHANDISERS
Income Statement
For the Year Ended April 30, 2022
P
P
P
P
P
P
17,000.00
15,000.00
3,000.00
3,000.00
2,000.00
7,000.00
(1)
(3)
(4)
(7)
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