The transactions below were obtained from the records of Woody Outdoors Company: Jul. 2Purchased paddle boats (equipment) for $7,400 on account from Aspen Inc. 9Purchased paddles (supplies) for $5,750 on account from Graceland Company. 14 Purchased life vests (supplies) for $4,500 on account from Aspen Inc. Record these transactions in a purchase journal. Purchases Journal Accounts Other Date Credited Account Post. Ref. Dr. Payable Supplies Accounts Post. Cr. Dr. Ref. Amount For the toolbar press ALT+510 (PC) or ALT+EN+510 (Mach

The transactions below were obtained from the records of Woody Outdoors Company: Jul. 2Purchased paddle boats (equipment) for $7,400 on account from Aspen Inc. 9Purchased paddles (supplies) for $5,750 on account from Graceland Company. 14 Purchased life vests (supplies) for $4,500 on account from Aspen Inc. Record these transactions in a purchase journal. Purchases Journal Accounts Other Date Credited Account Post. Ref. Dr. Payable Supplies Accounts Post. Cr. Dr. Ref. Amount For the toolbar press ALT+510 (PC) or ALT+EN+510 (Mach

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A business received or issued the following invoices and paid or received the invoiced amounts on the following dates: Invoice date Invoice amount Date paid or received Purchase 2.6.X4 R1,000 26.6.X4 25.6.X4 R1,500 2.7.X4 Sales 8.6.X4 R2,000 26.6.X4 29.6.X4 R3,000 7.7.X4 There is no inventory at the beginning or end of June. What is the difference between the profit for June calculated on a cash basis, and calculated on an accruals basis? A. Nil B. R1,000 C. R1,500 D. R2,500
Use the transactions to fill in the plank chart of purchases. I’ve also wrote them below: Transactions: August; Purchased $1,500.00 in merchandise on account from Beads R Us, invoice 158. Bought a new computer on account from Best Buy for $1,600.00, invoice 822. Purchased gems (merchandise) from The Gem Mine for $1,100.00 on account, terms 2/15, n/30, invoice Purchased $525.00 in pens and paper from Staples on account, terms n/30, invoice 28. Bought an office desk on account from Office Depot for $750.00, invoice 76. Bought merchandise on account from The Gem Mine for $5,000.00, terms 2/15, n/30, invoice 282. Purchases
Subject: acounting
Purchase-related transactionsStylon Co., a women's clothing store, purchased $48,000 of merchandisefrom a supplier on account, terms FOB destination, 2/10, n/30. Stylon returned merchandise with an Invoice amount of $7,500, receiving acredit memo. Journalize Stylon's entries to record (a) the purchase, (b)the merchandise return, (c) the payment within the discount period of10 days, and (d) the payment beyond the discount period of 10 days.
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A credit records financial informati. A. January 22, purchased, an asset, merchandise inventory on account for $2,800. EA7. Prepare journal entries to record the following transactions. will increase and the other side will- the terms debit and credit representedi- by calculating the difference between ectively. Depending on the acc 1. January 22, purchased, an asset merchandise inventory on account for $2,800. B. February 10, paid creditor for part of January 22 purchase, $1,600 C. July 1, issued common stock for cash, $15,000 D. July 15, purchased supplies, on account, $1,800 E. July 25, billed customer for accounting services provided, $950 BAT. Prepare journal entries to record the following transactions.
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Fill in the missing amounts in the accounts payable subsidiary ledgers for Al's Tractor Supply. NAME: B. Mario ACCOUNTS PAYABLE LEDGER ADDRESS: 1230 Rose Ave, Watertown, WI 53094 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- July 8 P7 1,900.00 1,900.00 July 15 J3 400.00 NAME: Denson & Soldner ACCOUNTS PAYABLE LEDGER ADDRESS: 111 Chase St, Johnson Creek, WI 53081 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- July 3 P7 3,100.00 3,100.00 July 13 CP9 3,100.00 July 29 P7 3,460.00 ACCOUNTS PAYABLE LEDGER NAME: Hutchinson Supplies ADDRESS: 1985 County Road, Lake Mills, WI 53577 DATE TTEM POST. REF. DEBIT CREDIT BALANCE
vd subject-Accounting
Subject: acounting