The following selected transactions were completed by Capers Company during October of the current year: Oct. 1 Purchased merchandise from UK Imports Co., $13,701, terms FOB destination, n/30. 3 Purchased merchandise from Hoagie Co., $8,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $225 was added to the invoice. 4 Purchased merchandise from Taco Co., $13,450, terms FOB destination, 2/10, n/30. 6 Issued debit memo to Taco Co. for $4,250 of merchandise returned from purchase on October 4. 13 Paid Hoagie Co. for invoice of October 3. 14 Paid Taco Co. for invoice of October 4 less debit memo of October 6. 19 Purchased merchandise from Veggie Co., $28,290, terms FOB shipping point, n/eom. 19 Paid freight of $420 on October 19 purchase from Veggie Co. 20 Purchased merchandise from Caesar Salad Co., $20,200, terms FOB destination, 1/10, n/30. 30 Paid Caesar Salad Co. for invoice of October 20. 31 Paid UK Imports Co. for invoice of October 1. 31 Paid Veggie Co. for invoice of October 19.
The following selected transactions were completed by Capers Company during October of the current year: Oct. 1 Purchased merchandise from UK Imports Co., $13,701, terms FOB destination, n/30. 3 Purchased merchandise from Hoagie Co., $8,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $225 was added to the invoice. 4 Purchased merchandise from Taco Co., $13,450, terms FOB destination, 2/10, n/30. 6 Issued debit memo to Taco Co. for $4,250 of merchandise returned from purchase on October 4. 13 Paid Hoagie Co. for invoice of October 3. 14 Paid Taco Co. for invoice of October 4 less debit memo of October 6. 19 Purchased merchandise from Veggie Co., $28,290, terms FOB shipping point, n/eom. 19 Paid freight of $420 on October 19 purchase from Veggie Co. 20 Purchased merchandise from Caesar Salad Co., $20,200, terms FOB destination, 1/10, n/30. 30 Paid Caesar Salad Co. for invoice of October 20. 31 Paid UK Imports Co. for invoice of October 1. 31 Paid Veggie Co. for invoice of October 19.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following selected transactions were completed by Capers Company during October of the current year:
Oct. | 1 | Purchased merchandise from UK Imports Co., $13,701, terms FOB destination, n/30. |
3 | Purchased merchandise from Hoagie Co., $8,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $225 was added to the invoice. | |
4 | Purchased merchandise from Taco Co., $13,450, terms FOB destination, 2/10, n/30. | |
6 | Issued debit memo to Taco Co. for $4,250 of merchandise returned from purchase on October 4. | |
13 | Paid Hoagie Co. for invoice of October 3. | |
14 | Paid Taco Co. for invoice of October 4 less debit memo of October 6. | |
19 | Purchased merchandise from Veggie Co., $28,290, terms FOB shipping point, n/eom. | |
19 | Paid freight of $420 on October 19 purchase from Veggie Co. | |
20 | Purchased merchandise from Caesar Salad Co., $20,200, terms FOB destination, 1/10, n/30. | |
30 | Paid Caesar Salad Co. for invoice of October 20. | |
31 | Paid UK Imports Co. for invoice of October 1. | |
31 | Paid Veggie Co. for invoice of October 19. |
CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capers Company | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DATE
DESCRIPTION
Oct. 1 Merchandise Inventory
POST. REF.
DEBIT
1
CREDIT
ASSETS
LIABILITIES
EQUITY
13,701.00
2
Accounts Payable-UK Imports Co.
13,701.00
Oct. 3 Merchandise Inventory
4
Accounts Payable-Hoagie Co.
Oct. 4 Merchandise Inventory
Accounts Payable-Taco Co.
7
Oct. 6 Accounts Payable-Taco Co.
8
Merchandise Inventory
Oct. 13
Accounts Payable-Hoagie Co.
10
Cash
11
Oct. 14
Accounts Payable-Taco Co.
12
Cash
13
Oct. 19 Merchandise Inventory
14
Accounts Payable-Veggie Co.
15
Oct. 19 Merchandise Inventory
16
Cash
17
Oct. 20 Merchandise Inventory
18
Accounts Payable-Caesar Salad Co.
19
Oct. 30
Accounts Payable-Caesar Salad Co.
Cash
Oct. 31
Accounts Payable-UK Imports Co.
22
Cash
23
Oct. 31
Accounts Payable-Veggie Co.
Cash
3.
20
21
24
9,](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9c89cc18-04af-4526-9496-6a509716cba2%2F33e2d889-bf50-44d6-8ab2-db70b3109bdf%2F3b6civ_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Shaded cells have feedba
DATE
DESCRIPTION
Oct. 1 Merchandise Inventory
POST. REF.
DEBIT
1
CREDIT
ASSETS
LIABILITIES
EQUITY
13,701.00
2
Accounts Payable-UK Imports Co.
13,701.00
Oct. 3 Merchandise Inventory
4
Accounts Payable-Hoagie Co.
Oct. 4 Merchandise Inventory
Accounts Payable-Taco Co.
7
Oct. 6 Accounts Payable-Taco Co.
8
Merchandise Inventory
Oct. 13
Accounts Payable-Hoagie Co.
10
Cash
11
Oct. 14
Accounts Payable-Taco Co.
12
Cash
13
Oct. 19 Merchandise Inventory
14
Accounts Payable-Veggie Co.
15
Oct. 19 Merchandise Inventory
16
Cash
17
Oct. 20 Merchandise Inventory
18
Accounts Payable-Caesar Salad Co.
19
Oct. 30
Accounts Payable-Caesar Salad Co.
Cash
Oct. 31
Accounts Payable-UK Imports Co.
22
Cash
23
Oct. 31
Accounts Payable-Veggie Co.
Cash
3.
20
21
24
9,
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