College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 12, Problem 6SPA

SALES JOURNAL Futi Ishanyan owns a retail business and made the following sales during the month of August 20--. There is a 6% sales tax on all sales.

Aug. 1    Sale No. 213 to Jeter Manufacturing Co., $1,300, plus sales tax.

3    Sale No. 214 to Hassan Co., $2,600, plus sales tax.

7    Sale No. 215 to Habrock, Inc., $1,700, plus sales tax. (Open a new account for this customer. Address is 125 Fishers Dr., Noblesville, IN 47870–8867.)

11    Sale No. 216 to Seth Mowbray, $1,400, plus sales tax.

18    Sale No. 217 to Hassan Co., $3,960, plus sales tax.

22    Sale No. 218 to Jeter Manufacturing Co., $2,800, plus sales tax.

30    Sale No. 219 to Seth Mowbray, $1,900, plus sales tax.

Required

  1. 1. Record the transactions in the sales journal starting with page 8. Total and verify the column totals and rule the columns.
  2. 2. Post from the sales journal to the general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter.
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Sales and Cash Receipts Transactions Sourk Distributors is a retail business. The following sales, returns, and cash receipts occurred during March 20--. There is an 8% sales tax. Mar. 1 Sale on account No. 33C to Donachie & Co., $1,700 plus sales tax. 3 Sale on account No. 33D to R. J. Kibubu, Inc., $2,190 plus sales tax. 5 Donachie & Co. returned merchandise from Sale No. 33C for a credit (Credit Memo No. 66), $40 plus sales tax. 7 Cash sales for the week were $3,140 plus sales tax. 10 Received payment from Donachie & Co. for Sale No. 33C less Credit Memo No. 66. 11 Sale on account No. 33E to Eck Bakery, $1,230 plus sales tax. 13 Received payment from R. J. Kibubu for Sale No. 33D. 14 Cash sales for the week were $4,100 plus sales tax. 16 Eck Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $34 plus sales tax. 18 Sale on account No. 33F to R. J. Kibubu, Inc., $2,580 plus sales tax. 20 Received payment from Eck Bakery for Sale No. 33E less Credit Memo…
During the month of September, the following transactions occurred. The applicable sales tax rate is 6%. Sept.   2 Sold merchandise on account to Sam Larson, $1,400, plus sales tax.     7 Sold merchandise on account to David Mitchell, $1,900, plus sales tax.    12 Issued credit memorandum to Sam Larson for $689, including sales tax of $39.    22 Sold merchandise on account to Matt Feustal, $500, plus sales tax.   28 Sold merchandise on account to Ana Cardona, $850, plus sales tax. ​ Enter the transactions in the general journal. If an amount box does not require an entry, leave it blank.
During the month of September, the following transactions occurred. The applicable sales tax rate is 6%. Sept.   2   Sold merchandise on account to Sam Larson, $1,400, plus sales tax.     7   Sold merchandise on account to David Mitchell, $1,900, plus sales tax.    12   Issued credit memorandum to Sam Larson for $689, including sales tax of $39.    22   Sold merchandise on account to Matt Feustal, $500, plus sales tax.   28   Sold merchandise on account to Ana Cardona, $850, plus sales tax. Enter the transactions in the general journal. If an amount box does not require an entry, leave it blank. Page: 1

Chapter 12 Solutions

College Accounting, Chapters 1-27

Ch. 12 - Prob. 1CECh. 12 - LO3 Enter the following transactions in a cash...Ch. 12 - LO4 Enter the following transaction in a purchases...Ch. 12 - Enter the following transactions in a cash...Ch. 12 - Prob. 1RQCh. 12 - List four items of information about each sale...Ch. 12 - Prob. 3RQCh. 12 - Prob. 4RQCh. 12 - Prob. 5RQCh. 12 - Prob. 6RQCh. 12 - Prob. 7RQCh. 12 - Prob. 8RQCh. 12 - Prob. 9RQCh. 12 - Prob. 10RQCh. 12 - Prob. 11RQCh. 12 - What steps are followed in posting from the cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - RECORDING TRANSACTIONS IN THE PROPER JOURNAL...Ch. 12 - Prob. 2SEACh. 12 - JOURNALIZING CASH RECEIPTS Enter the following...Ch. 12 - JOURNALIZING PURCHASES TRANSACTIONS Enter the...Ch. 12 - Prob. 5SEACh. 12 - SALES JOURNAL Futi Ishanyan owns a retail business...Ch. 12 - Prob. 7SPACh. 12 - Prob. 8SPACh. 12 - PURCHASES JOURNAL J. B. Speck, owner of Specks...Ch. 12 - PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS...Ch. 12 - Prob. 11SPACh. 12 - PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND...Ch. 12 - RECORDING TRANSACTIONS IN THE PROPER JOURNAL...Ch. 12 - Prob. 2SEBCh. 12 - Prob. 3SEBCh. 12 - JOURNALIZING PURCHASES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH PAYMENTS Sandcastles Northwest...Ch. 12 - SALES JOURNAL T. M. Maxwell owns a retail business...Ch. 12 - Prob. 7SPBCh. 12 - SALES JOURNAL, CASH RECEIPTS JOURNAL, AND GENERAL...Ch. 12 - PURCHASES JOURNAL Ann Benton, owner of Bentons...Ch. 12 - PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS...Ch. 12 - Prob. 11SPBCh. 12 - PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND...Ch. 12 - Prob. 1MYWCh. 12 - Judy Baresford, the store manager of Comfort...Ch. 12 - During the month of October 20--, The Pink Petal...Ch. 12 - Screpcap Co. had the following transactions during...
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