The following events pertain to the Zabel Soccer Supply Shop for February 2004, its first month of operation. The company uses the pic inventory system. PERPETUAL 1) Feb. 2. Issued) $19,000 of common stock for cash! 2) Feb. 3 3) Feb.3 4) 5) 6) Purchased $6,500 of merchandise on account with terms 2/10,n30, FOB Shipping Point Paid $200 cash for shipping charges on the previous purchase. Returned $1,000 of the merchandise purchased on Feb. 3. Sold merchandise that cost $3,000 for $5,500 cash Recorded the discount and paid the amount due from the purchase of merchandise on Feb 4 Feb. 5 Feb. 10 Feb. 3. 7) Feb. 14 Purchased additional merchandise for $5,600 on account with terms 2/10,n30, FOB Destination. Required: Record the above transactions in general journal form.
The following events pertain to the Zabel Soccer Supply Shop for February 2004, its first month of operation. The company uses the pic inventory system. PERPETUAL 1) Feb. 2. Issued) $19,000 of common stock for cash! 2) Feb. 3 3) Feb.3 4) 5) 6) Purchased $6,500 of merchandise on account with terms 2/10,n30, FOB Shipping Point Paid $200 cash for shipping charges on the previous purchase. Returned $1,000 of the merchandise purchased on Feb. 3. Sold merchandise that cost $3,000 for $5,500 cash Recorded the discount and paid the amount due from the purchase of merchandise on Feb 4 Feb. 5 Feb. 10 Feb. 3. 7) Feb. 14 Purchased additional merchandise for $5,600 on account with terms 2/10,n30, FOB Destination. Required: Record the above transactions in general journal form.
Chapter1: Financial Statements And Business Decisions
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The following events pertain to the Zabel Soccer Supply Shop for February 2004, its first month of
operation. The company uses the pic inventory system.
PERPETUAL
1) Feb. 2. Íssued $19,000 of common stock for cash!
2)
Feb. 3 Purchased $6,500 of merchandise on account with terms 2/10,n30, FOB Shipping Point.
3) Feb.3 Paid $200 cash for shipping charges on the previous purchase.
Returned $1,000 of the merchandise purchased on Feb. 3.
Sold merchandise that cost $3,000 for $5,500 cash
4) Feb 4
5)
Feb. 5
6) Feb. 10 Recorded the discount and paid the amount due from the purchase of merchandise on
Feb. 3.
7)
Feb. 14 Purchased additional merchandise for $5,600 on account with terms 2/10, n30, FOB
Destination.
Required: Record the above transactions in general journal form.
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