WORKING PAPERS F/ FUND ACCOUNTING
22nd Edition
ISBN: 9781308868394
Author: Wild
Publisher: MCG CUSTOM
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Chapter 5, Problem 1APSA
Prepare
July l Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1.
2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $500.
3 Paid $ 125 cash for freight charges on the purchase of July 1.
8 Sold merchandise that had cost $ 1,300 for $1,700 cash.
9 Purchased merchandise from Leight Co. for $2,200 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9.
11 Received a $200 credit memorandum from Leight Co. for the return of part of the merchandise purchased on July 9.
12 Received the balance due from Creek Co. for the invoice dated July 2, net of the discount.
16 Paid the balance due to Boden Company within the discount period.
19 Sold merchandise that cost $800 to Art Co. for $ 1.200 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19.
21 Issued a $200 credit memorandum to Art Co. for an allowance on goods sold on July 19.
24 Paid Leight Co. the balance due after deducting the discount.
30 Received the balance due from Art Co. for the invoice dated July 19, net of discount.
31 Sold merchandise that cost $4,800 to Creek Co. for $7,000 under credit terms of 2/10, n/60. FOB shipping point, invoice dated July 31.
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November 1 Dollar Store purchases merchandise for $1,400 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1.
November 5 Dollar Store pays cash for the November 1 purchase.
November 7
Dollar Store discovers and returns $150 of defective merchandise purchased on November 1, and paid for on November 5,
for a cash refund.
November 10
Dollar Store pays $70 cash for transportation costs for the November 1 purchase.
November 13 Dollar Store sells merchandise for $1,512 with terms n/30. The cost of the merchandise is $756.
November 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $205 and
cost $103; the items were not damaged and were returned to inventory.
Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual Inventory system and the gross
method.
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November 01
November 05
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November 16…
Chapter 5 Solutions
WORKING PAPERS F/ FUND ACCOUNTING
Ch. 5 - Prob. 1DQCh. 5 - 2. In comparing the accounts of a merchandising...Ch. 5 - Prob. 3DQCh. 5 - Prob. 4DQCh. 5 - Prob. 5DQCh. 5 - Prob. 6DQCh. 5 - Prob. 7DQCh. 5 - Prob. 8DQCh. 5 - Prob. 9DQCh. 5 - Prob. 10DQ
Ch. 5 - Prob. 11DQCh. 5 - Prob. 12DQCh. 5 - Prob. 13DQCh. 5 - Prob. 14DQCh. 5 - Prob. 15DQCh. 5 - Prob. 1QSCh. 5 - Prob. 2QSCh. 5 - Prob. 3QSCh. 5 - Prob. 4QSCh. 5 - Prob. 5QSCh. 5 - Prob. 6QSCh. 5 - Prob. 7QSCh. 5 - Prob. 8QSCh. 5 - Prob. 9QSCh. 5 - Prob. 10QSCh. 5 - Prob. 11QSCh. 5 - Prob. 12QSCh. 5 - Prob. 13QSCh. 5 - Prob. 14QSCh. 5 - Prob. 15QSCh. 5 - Prob. 16QSCh. 5 - Prob. 17QSCh. 5 - Prob. 18QSCh. 5 - Prob. 1ECh. 5 - Prob. 2ECh. 5 - Prob. 3ECh. 5 - Prob. 4ECh. 5 - Prob. 5ECh. 5 - Exercise 5-6 Recording purchase returns and...Ch. 5 - Prob. 7ECh. 5 - Prob. 8ECh. 5 - Prob. 9ECh. 5 - Prob. 10ECh. 5 - Prob. 11ECh. 5 - Prob. 12ECh. 5 - Prob. 13ECh. 5 - Prob. 14ECh. 5 - Prob. 15ECh. 5 - Prob. 16ECh. 5 - Exercise 5-17A Recording purchases and...Ch. 5 - Prob. 18ECh. 5 - Prob. 19ECh. 5 - Prob. 20ECh. 5 - Prepare journal entries to record the following...Ch. 5 - (
Problem 5-2A
Preparing journal entries for...Ch. 5 - Prob. 3APSACh. 5 - Prob. 4APSACh. 5 - Prob. 5APSACh. 5 - Prob. 6APSACh. 5 - Prob. 1BPSBCh. 5 - Prepare journal entries to record the following...Ch. 5 - Prob. 3BPSBCh. 5 - Prob. 4BPSBCh. 5 - Prob. 5BPSBCh. 5 - Problem 5-6BE Refer to the data and information in...Ch. 5 - Prob. 5SPCh. 5 - Prob. 1GLPCh. 5 - Prepare journal entries to record the following...Ch. 5 - Based on Problem 5-5A Problem 5-5A Preparing...Ch. 5 - Prob. 1BTNCh. 5 - Prob. 2BTNCh. 5 - Prob. 3BTNCh. 5 - Prob. 4BTNCh. 5 - Prob. 5BTNCh. 5 - Prob. 6BTNCh. 5 - Prob. 7BTNCh. 5 - Prob. 8BTNCh. 5 - Prob. 9BTN
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