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.
zto.mheducation.com/ext/map/index.html?_con=con&external_browser Saved Help Save & Exit Required information Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] of 2 Del Gato Clinic's cash account shows an $15,472 debit balance and its bank statement shows $16,254 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $3,069. b. The June 30 bank statement lists a $35 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. d. The June 30 cash receipts of $2,261 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. 3251 ok Exercise 6-13 (Algo) Entries from bank reconciliation LO P3 Prepare any necessary…
Accounting Homework
engageNOWv2 | Online teachir X * CengageNOWv2| Online teachir x .com/ilrm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre. * A eBook Show Me How Accounts Receivable Analysis A company reports the following: Sales $671,600 Average accounts receivable (net) 67,160 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days Previous Next Check My Work 11:16 AM 67°F Sunny A O E D a ) 12/3/2021 n sc hone backsoce
Requirement No. General Journal No. Date July 01 Date June 30 General Ledger Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. Cash Debit Common stock Debit Trial Balance Credit Credit 000 Schedule of Receivables General Ledger Account Balance 27,000 Balance 1 of 1 Income Statement MacBook Air F6 Merchandise Inventory Debit Impact on Income Next F7 Credit DII FO Balance 13,000
A ezto.mheducation.com sijon 17A - Connect Data_Sales.xlsx: fa21cob204 Computer Information Systems Dashb on 1-7-6A - Connect Saved Help The accounts receivable balance for Renue Spa at December 31, Year 1, was $86,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $2,500. During Year 2, $1.900 of accounts receivable were written off as uncollectible. In addition, Renue unexpectedly collected $130 of receivables that had been written off in a previous accounting period. Services provided on account during Year 2 were $211,000, and cash collections from receivables were $212,936. Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period. Required a. Record the transactions in general journal form and post to T-accounts. b. Based on the preceding information, compute (after year-end adjustment): (1) Balance of allowance for doubtful accounts at December 31, Year 2. (2) Balance of accounts receivable at December 31,…
be Preview File Edit View V Go mgt120h-a17.pdf Page 3 of 10 DOLAY Tools Window Help risinin D .. .. .. ... ... O V C. For an amount that the company estimates it will not collect. d. Several times during the accounting period. ܐ. . .. . . Search (Cª 5. Under the allowance method for uncollectible accounts, Bad Debts Expense is recorded a. When an individual account is written off. b. When the loss amount is known. Sat Apr 15 3:04 PM 6. A company sells an asset that originally cost $150,000 for $50,000 on December 31, 2016. The accumulated depreciation account had a balance of $60.000 after the current year'e Cost-Volume-Profit Analysis The Effect Of Prepaid Taxes On Assets Debenture Valuation And Liabili... 90 77
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Create the trial balance and the income statement for the transactions below
ab User Management,... H https://outlook.offi... FES Protection Plan System 7 - North C... Homework Exercises Saved Lewis Corporation engaged in the following transactions during June. DATE TRANSACTIONS 20X1 4 Purchased merchandise on account from Salinas Company; Invoice 100 for $1,005; terms n/30. 15 Recorded purchases for cash, $1,490. 30 Paid amount due to Salinas Company for the purchase on June 4. June Book Required: Record these transactions in a general journal. erences View transaction list Journal entry worksheet 1. 21 3 Paid amount due to Salinas Company for the purchase on June 4. Note: Enter cebits before credits.
this PC - P Seach Help AaBbCcDc AaBbCcD AaBbC AABBCCC AaB AaBbCcC AaBbCcD 1 Normal I No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em. h Styles In July, the following selected transactions were completed. All purchases and sales were on account. At the beginning of July, the ledger of the company showed Cash RO. 2,500, purchase RO. 1,700, Account Receivable RO. 2,000, and Accounts Payable RO. 2,200. The following transactions were completed during July. Date Transactions July 1 Purchased merchandise from XYZ Company RO. 7,600. Received freight bill from Pegasus Shipping on XYZ purchase RO. 400. Made sales to Echo Company RO. 1,300 and to Pitas Bros. RO. 2,000. Purchased merchandise from Horizon Company RO. 3,200. Received credit on merchandise returned to Horizon Company RO. 300. Purchased store supplies from Bowe Supply RO. 910. Purchased merchandise from XYZ Company RO. 3,600 and from Goran Company RO. 3,300. Made sales to Fiber Company RO. 3,450 and to Pitas Bros. RO. 1,570.…