P7-4B. Super Sweets of Edmonton, owned and operated by Sophia Blanca, uses a purchases journal (page 15) and a general journal (page 3) to record the following transactions (use separate columns for merchandise and supplies purchases in the purchases journal): 2022 5 Purchased merchandise on account from Bakker Co., invoice No. 2467, dated August 4, terms 2/10, n/60, $1,637.45. Aug. 9. Purchased merchandise on account from Holmes Co., invoice No. 1438, dated August 8, terms 2/10, n/60, $1,784.30. Purchased store supplies on account from Genesis Co., invoice No. 5031, dated August 12, S1,478.25. Issued debit memo No. 5 to Bakker Co. for merchandise returned, $245.00 from invoice No. 2467. 12 16 Purchased display cquipment on account from Well-Equip Co., invoice No. 42784, dated August 18, S1,754.50. 25 Purchased additional store supplies invoice No. 5182, datcd August 24, terms 2/10, n/30, $743.30. 19 on account from Genesis Co., Journalizing, recording, and posting a purchases iournal, as well as recording a debit memorandum and

P7-4B. Super Sweets of Edmonton, owned and operated by Sophia Blanca, uses a purchases journal (page 15) and a general journal (page 3) to record the following transactions (use separate columns for merchandise and supplies purchases in the purchases journal): 2022 5 Purchased merchandise on account from Bakker Co., invoice No. 2467, dated August 4, terms 2/10, n/60, $1,637.45. Aug. 9. Purchased merchandise on account from Holmes Co., invoice No. 1438, dated August 8, terms 2/10, n/60, $1,784.30. Purchased store supplies on account from Genesis Co., invoice No. 5031, dated August 12, S1,478.25. Issued debit memo No. 5 to Bakker Co. for merchandise returned, $245.00 from invoice No. 2467. 12 16 Purchased display cquipment on account from Well-Equip Co., invoice No. 42784, dated August 18, S1,754.50. 25 Purchased additional store supplies invoice No. 5182, datcd August 24, terms 2/10, n/30, $743.30. 19 on account from Genesis Co., Journalizing, recording, and posting a purchases iournal, as well as recording a debit memorandum and

Name: P7-4B. Super Sweets of Edmonton, owned and operated by Sophia Blanca,
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Description: P7-4B. Super Sweets of Edmonton, owned and operated by Sophia Blanca,uses a purchases journal (page 15) and a general journal (page 3) to recordthe following transactions (use separate columns for merchandise andsupplies purchases in the purchases j

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Record the following transactions related to purchases for Horston's Art Supplies using the general journal foem provided below. Assume Horston's uses a periodic inventory system. Omit transaction descriptions from entries. Date Transaction Sept. 1 Purchased $8,000 of merchandise on account, FOB destination, n/30. 3 Returned $1,000 of merchandise purchased on September 1 due to defects. 7 Purchased $1,500 of merchandise on account, terms FOB shipping point, 2/10, n/30. Prepaid fresght of $75 was added to the invoice. 14 Paid for the merchandise purchased on September 7, less discoutnt. 20 Paid for merchandise purchased on September 1, less retarn. Sept. 1 Purchased $8,000 of merchandise on account, FOB destination, n/30. 3 Returned $1,000 of merchandise purchased on September 1 due to defects. 7 Purchased $1,500 of merchandise on account, terms FOB shipping point, 2/10, n/30. P 14 Paid for the merchandise purchased on September 7, less discount. 20 Paid for merchandise purchased on…
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12. Boston Dollar Store uses the gross method to record purchase discounts and uses a perpetual inventory system. Boston engaged in the following transactions during April:April 12 - Purchased $15,000 in merchandise subject to terms of 2/10, n/30. The goods were shipped f.o.b. shipping point.April 13 - Received a billing from Orange Freight Lines for $300 for the April 12 purchase.April 15 - Returned $1,000 of merchandise from the April 12 purchase.April 20 - Paid balances due from April 12 purchase.Required:Prepare journal entries to record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Main.do?invoker=&takeAssignments Record the following transactons as general journal entries. Use the gross-price method. Aug. 6 Purchased $830 of merchandise on account from Johnston Co. Credit terms 2/10, /30. Bought an $18,000 truck from Pillner Co., paylng $3,000 down; balance on account. 13 Purchased $2,611 of merchandise for cash from Pillner and Co. Pald for the August 6 purchase of merchandise from Johnston Co. Purchased $1,743 of merchandise from Luls Co. Credit terms 2/10, n/30. 15 17 If an amount box does not requlre an entry, leave It blank. If required, round answers to the nearest cent. Page: 1 DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 1 Aug. 6 1 2 2 3 Aug. 8 4 5 6 Aug. 13 7 8 Aug. 15 8 9 10 10 11 11 Aug. 17 12 12 Check My Work 1more Check My Workuseremanng. All work saveod.
Am. 104.
Record the following transactions as general journal entries. Use the gross-price method. Aug. 6 Purchased $830 of merchandise on account from Johnston Co. Credit terms 2/10, n/30. 8 Bought an $18,000 truck from Pillner Co., paying $3,000 down; balance on account. 13 Purchased $2,611 of merchandise for cash from Pillner and Co. 15 Paid for the August 6 purchase of merchandise from Johnston Co. 17 Purchased $1,743 of merchandise from Luis Co. Credit terms 2/10, n/30. If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. Page: 1 DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT 1 Aug. 6 fill in the blank 2 fill in the blank 3 1 2 fill in the blank 5 fill in the blank 6 2 3 Aug. 8 fill in the blank 8 fill in the blank 9 3 4 fill in the blank 11 fill in the blank 12 4 5 fill in the blank 14 fill in the blank 15 5 6 Aug. 13 fill in the blank 17 fill in the…
Journalize the following transactions for Armour Inc. Oct. 7 Sold merchandise on credit to Rondo Distributors, for $1,200, terms n/30. The cost of the merchandise was $720. Purchased merchandise, $10,000, terms FOB shipping point, 2/15, n/30, with prepaid freight charges of $525 added to the invoice. Journalize the transactions above using the periodic inventory system. If an amount box does not require an entry, leave it blank. Oct. 7 Oct. 8 Journalize the transactions above using the perpetual inventory system. Oct. 7- Sale Cost Oct. 8
. EX.06.204.ALGO Sampson Co. sold merchandise to Batson Co. on account, $28,500, terms 2/15, net 45. The cost of the merchandise sold is $21,375. Batson Co. paid the invoice within the discount period. Assume both Sampson and Batson use a perpetual inventory system. Journalize these transactions for Sampson Co. If an amount box does not require an entry, leave it blank. a. fill in the blank 9d2beefcd029043_2 fill in the blank 9d2beefcd029043_3 fill in the blank 9d2beefcd029043_5 fill in the blank 9d2beefcd029043_6 b. fill in the blank 9d2beefcd029043_8 fill in the blank 9d2beefcd029043_9 fill in the blank 9d2beefcd029043_11 fill in the blank 9d2beefcd029043_12 c. fill in the blank 9d2beefcd029043_14 fill in the blank 9d2beefcd029043_15 fill in the blank 9d2beefcd029043_17 fill in the blank 9d2beefcd029043_18 Journalize these transactions for Batson Co. If an amount box does not require an entry, leave it blank. a. and b.…
Travis Company purchased merchandise on account from a supplier for $12,300, terms 2/10, net 30. Travis Company paid for the merchandise within the discount period. Under a perpetual inventory system, record the journal entries required for the above transactions. If an amount box does not require an entry, leave it blank. a. b.