Principle of Accounting Test 2 - Protected View • Saved Design Layout References Mailings Review View Help Search es from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing Principle of Accounting Test 2 1. Journalize the following transactions that occurred for Jane Long's Restaurant in the month of May. Prepare Ledger in the balance format for Assets and revenue accounts May 1 Purchased inventory stock for $350 on credit. 2 Restaurant makes sales of $2,000, $1,200 for cash and $800 on account. 3 Paid staff wages $750. 3 Purchased furniture costing $3,160 on credit 4 Received $660 in connection with customers billed in (2) above. 15 Jane Long withdrew $2,400 from the business. 28 Paid $330 for miscellaneous expenses (telephone, electricity, etc.). 30 Paid $ 5,000 for purchase of computers for office 30 received rent from a rental property $4,200 30 Sale of $2,800, $1,500 for cash and $1,300 on account. I Q Search hp & 7 * 8 144 10+15= 25 marks R T Y G T J K L B N M P CICE DFOCUS ENG IN

Principle of Accounting Test 2 - Protected View • Saved Design Layout References Mailings Review View Help Search es from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing Principle of Accounting Test 2 1. Journalize the following transactions that occurred for Jane Long's Restaurant in the month of May. Prepare Ledger in the balance format for Assets and revenue accounts May 1 Purchased inventory stock for $350 on credit. 2 Restaurant makes sales of $2,000, $1,200 for cash and $800 on account. 3 Paid staff wages $750. 3 Purchased furniture costing $3,160 on credit 4 Received $660 in connection with customers billed in (2) above. 15 Jane Long withdrew $2,400 from the business. 28 Paid $330 for miscellaneous expenses (telephone, electricity, etc.). 30 Paid $ 5,000 for purchase of computers for office 30 received rent from a rental property $4,200 30 Sale of $2,800, $1,500 for cash and $1,300 on account. I Q Search hp & 7 * 8 144 10+15= 25 marks R T Y G T J K L B N M P CICE DFOCUS ENG IN

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 7SEA

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JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning balance in Accounts Receivable is 3,900. Beginning balances in selected customer accounts are Adams, 850; Greene, 428; and Phillips, 1,018.
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A. Prepare for the month of september 2012 the I. Purchases ledger control account II. Sales ledger control account B.state three functions of control accounts
Accounting:purchases journal?
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v2 | Online teachin x QUnit 3 Review Flashcards | Quizle x nment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress-false e purchases journal for Trail Blazers for the month of April is presented below. Accounts Payable is account number 202 and Purchases is account number PURCHASES JOURNAL Page 6 Purchases Deblt/ Accounts Payable ate Involce No. From Whom Purchased Post Ref. Credit r. 2 1122 Longo Co. 4,851.00 4 1123 Middle County Suppliers 4,675.00 8. 1124 Pueblo Crafts 2,970.00 1125 Highlander Co. 3,528.00 10 1126 Pearl Art Supply 1,530.00 15 1127 Middle County Suppliers 1,100.00 18,654.00 quired: Post the information in the purchases journal to the appropriate general ledger and accounts payable ledger accounts. If an amount box does not require entry, leave it blank. Enter transactions in chronological order. GENERAL LEDGER ccount: Accounts Payable Account No. 202 Balance Date Item Post Ref. Debit Credit Debit Credit ck My Work 1 more Check My Work uses…
AutoSave OFF Home Insert Draw Paste Page 47 of 95 Calibri B I U 20 Design V v 16916 words 50 ab X 2 V Layout X Α Α΄ A References Aa ▾ A Αν English (United States) Mailings = Review V V W= Packet Lecture-4 View 12/31 싫 V Accessibility: Investigate Tell me 30,000 V Estimating Uncollectible Accounts An estimate of bad debts is made at the end of the accounting period to match the cost of credit sales (bad debt expense) with the revenue credit sales allowed the company to record during the period. The estimate is incorporated in the company's books through an ADJUSTING ENTRY and the entry increases the allowance for uncollectible accounts and bad debt expense. Saved to my Mac ✓ Percent of Receivables Method (an allowance method) management estimates a percent of ending accounts receivable they expect to be uncollectible the ending balance of the Allowance for Uncollectible Accounts (AUA) is determined based on the estimate (% of uncollectible accounts x ending balance of A/R, "% of A/R").…
X Connect ezto.mheducation.com/ext/map/index.html?_con=con&external_browser%3D0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activit er 7 homework i Saved Help company's year-end balance in accounts receivable is $2,000,000. The allowance for uncollectible accounts had a beginning-of- year credit balance of $30,000. An aging of accounts receivable at the end of the year indicates a required allowance of $38,000. If bad debt expense for the year was $40,000, what was the amount of bad debts written off during the year? Bad debts written off ed ok t nces
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A course.apexlearning.com pugarWeb for Applicants Mail - Kylee Willison - Outlook Student Email | Columbus State Com.. Ap L 1.2.7 Quiz: Accounts Payable Process Question 2 of 10 Which of the following is recorded in the purchases journal? A. orders made by the customer paid for with cash B. orders made by the business paid for with cash C. orders made by the customer on credit or account D. orders made by the business on credit or account SUBMIT E PREVIOUS FEB TO 6. (30) MacBook Air
I figured out most of the answers, I just need help solving COGS and Inventory balance for Jan 26