Homework Help is Here – Start Your Trial Now!
Business
Accounting
Periodic Inventory System: N. Miday Distributors is registered as a single proprietorship with DTI permit as Nicole Miday, December 2019. December 1 2 3 4 5 6 6 12 13 14 14 15 17 19 20 21 24 27 27 28 29 30 30 Investment of 42,850 Bought merchandise on account from Rendezvous Co. 49,500 3.5/12, n/30 Bought equipment on account 4,500 Bought supplies on account 3,600 Sold merchandise on account 34,500 7/12, n/30 Paid freight on December 5 sale 1,000 Received refund from Rendezvous Co. 3,600 Collected to Customers Paid Rendezvous Co. Bought Merchandise on Cash 18,600 Borrowed money to Plan Bank with promissory note 19,560 Paid Salaries 6,500 Received refund from supplier 12,500 Bought merchandise 5/10, n/30 to AMODOLFO Co. 25,800 Paid Freight 2,500 on December 19 purchase. Sold merchandise 20,400 on cash Bought merchandise 22,300 n/30 Withdrew cash 23,500 Paid AMODOLFO partial 5,500 Made refund to customer 1,000 Sold merchandise 43,700 on account n/30 Paid the following; Advertising 2,500, Utilities 700, Rent 2,500 and Salaries 6,500 Inventory 38,845.05

Periodic Inventory System: N. Miday Distributors is registered as a single proprietorship with DTI permit as Nicole Miday, December 2019. December 1 2 3 4 5 6 6 12 13 14 14 15 17 19 20 21 24 27 27 28 29 30 30 Investment of 42,850 Bought merchandise on account from Rendezvous Co. 49,500 3.5/12, n/30 Bought equipment on account 4,500 Bought supplies on account 3,600 Sold merchandise on account 34,500 7/12, n/30 Paid freight on December 5 sale 1,000 Received refund from Rendezvous Co. 3,600 Collected to Customers Paid Rendezvous Co. Bought Merchandise on Cash 18,600 Borrowed money to Plan Bank with promissory note 19,560 Paid Salaries 6,500 Received refund from supplier 12,500 Bought merchandise 5/10, n/30 to AMODOLFO Co. 25,800 Paid Freight 2,500 on December 19 purchase. Sold merchandise 20,400 on cash Bought merchandise 22,300 n/30 Withdrew cash 23,500 Paid AMODOLFO partial 5,500 Made refund to customer 1,000 Sold merchandise 43,700 on account n/30 Paid the following; Advertising 2,500, Utilities 700, Rent 2,500 and Salaries 6,500 Inventory 38,845.05

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 7E: Record the following transactions for a perpetual inventory system in general journal form. a. Sold...
See similar textbooks
icon
Related questions
Topic Video
Question
Please give the General Ledger of the picture below
Periodic Inventory System: N. Miday Distributors is registered as a single proprietorship with DTI permit as Nicole Miday, December 2019. December 1 2 3 4 5 6 6 12 13 14 14 15 17 19 20 21 24 27 27 28 29 30 30 Investment of 42,850 Bought merchandise on account from Rendezvous Co. 49,500 3.5/12, n/30 Bought equipment on account 4,500 Bought supplies on account 3,600 Sold merchandise on account 34,500 7/12, n/30 Paid freight on December 5 sale 1,000 Received refund from Rendezvous Co. 3,600 Collected to Customers Paid Rendezvous Co. Bought Merchandise on Cash 18,600 Borrowed money to Plan Bank with promissory note 19,560 Paid Salaries 6,500 Received refund from supplier 12,500 Bought merchandise 5/10, n/30 to AMODOLFO Co. 25,800 Paid Freight 2,500 on December 19 purchase Sold merchandise 20,400 on cash Bought merchandise 22,300 n/30 Withdrew cash 23,500 Paid AMODOLFO partial 5,500 Made refund to customer 1,000 Sold merchandise 43,700 on account n/30 Paid the following; Advertising 2,500, Utilities 700, Rent 2,500 and Salaries 6,500 Inventory 38,845.05
Transcribed Image Text:Periodic Inventory System: N. Miday Distributors is registered as a single proprietorship with DTI permit as Nicole Miday, December 2019. December 1 2 3 4 5 6 6 12 13 14 14 15 17 19 20 21 24 27 27 28 29 30 30 Investment of 42,850 Bought merchandise on account from Rendezvous Co. 49,500 3.5/12, n/30 Bought equipment on account 4,500 Bought supplies on account 3,600 Sold merchandise on account 34,500 7/12, n/30 Paid freight on December 5 sale 1,000 Received refund from Rendezvous Co. 3,600 Collected to Customers Paid Rendezvous Co. Bought Merchandise on Cash 18,600 Borrowed money to Plan Bank with promissory note 19,560 Paid Salaries 6,500 Received refund from supplier 12,500 Bought merchandise 5/10, n/30 to AMODOLFO Co. 25,800 Paid Freight 2,500 on December 19 purchase Sold merchandise 20,400 on cash Bought merchandise 22,300 n/30 Withdrew cash 23,500 Paid AMODOLFO partial 5,500 Made refund to customer 1,000 Sold merchandise 43,700 on account n/30 Paid the following; Advertising 2,500, Utilities 700, Rent 2,500 and Salaries 6,500 Inventory 38,845.05
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Merchandise Inventory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS