Po.33. Restaurants do a large volume of business by credit and debit cards. SupposeTurning Leaves Continental Breakfast restaurant had these transactions on January 28, 2024:(Click the icon to view the transactions.)Read the requirements.Requirement 1. Suppose Turning Leaves Continental Breakfast's processor charges a 4% feeand deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Recorddebits first, then credits. Select the explanation on the last line of the journal entry table.)Journalize the credit sales net of the fee, first.DateAccounts and ExplanationDebitCredit Data tableData TableNational Express credit card salesValueCard debit card salesDequirementsRequirements$ 9,4009,000I1. Suppose Turning Leaves Continental Breakfast's processor charges a 4%fee and deposits sales net of the fee. Journalize these sales transactions forthe restaurant.2. Suppose Turning Leaves Continental Breakfast's processor charges a 4%fee and deposits sales using the gross method. Journalize these salestransactions for the restaurant.

Sales revenue is the amount of money earned by an entity by selling goods. It is reported in the…

Answered: Data table Data Table National Express…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...

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Restaurants do a large volume of business by credit and debit cards. Suppose Summer, Sand, and Castles Resort restaurant had these transactions on January 28, 2016: Suppose Summer, Sand, and Castles Resort’s processor charges a 2% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. Suppose Summer, Sand, and Castles Resort’s processor charges a 2% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant.
Presented below are two independent transactions.a. Fiesta Restaurant accepted a Visa card in payment of a €175 lunch bill. The bank chargesa 4% fee. What entry should Fiesta make?b. St. Pierre Company sold its accounts receivable of €70,000. What entry should St. Pierremake, given a service charge of 3% on the amount of receivables sold?
Peter Restaurants accepts credit and debit cards as forms of payment. Assume Peter had 10,000 of credit and debit card sales on November 30, 2017. 9. Suppose Peter's processor charges a 1% fee and deposits sale net of the fee. Journalize the sale transaction for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) 10. Suppose Peter's processor charges a 1% fee andd deposits sales using the gross method. Journalize the sale transaction for the restaurant.
Mark and Amanda Carter own an appliance store and arestaurant. The appliance store sells merchandise on a12-month installment plan; the restaurant sells only for cash.Which of the following statements are true? (More than oneanswer may be correct.)a. The appliance store has a longer operating cycle thanthe restaurant.b. The appliance store probably uses a perpetual inventorysystem, whereas the restaurant probably uses a periodicsystem.c. Both businesses require subsidiary ledgers for accountsreceivable and inventory.d. Both businesses probably have subsidiary ledgers foraccounts payable.
You are to enter up the necessary accounts for the month of June from the following information relating to a small printing firm. Then balance off the accounts and extract a trial balance as at 30 June 2020. June 1 Started in business with capital in cash of $800 and $2200 in the bank. June 2 Bought goods on credit from the following persons: J Ward $610; P Green $214; M Taylor $174; Gemmill $345; P Tone $542 June 4 Sold goods on credit to: J Sharpe $340; G Boycott $720; F Titmus $1,152 June 6 Paid rent by cash $180 June 9 J Sharpe paid us his account by cheque $340. June 10 F Titmus paid us $1000 by cheque June 12 we paid the following by cheque: M Taylor $174; J Ward $610 June 15 Paid carriage by cash $38 June 18 Bought goods on credit from P Green $291; S Gemmill $940 June 21 Sold goods on credit to G Boycott $810 June 30 Paid rent by cheque $230
Enter the transactions below into the General Journal and then update the Ledger accounts as required. Transactions January 2 Sold 100 Lunch in a Box meals on credit to School Snackers for $990 (including GST). January 3 Made a cash sale of $650 (net of GST) to Philip Heathers when they bought 10 Cake it Away desert kits. Received a cheque from Delicious Deserts as full payment of their account. January 5 Purchased 50 Cake it Away desert kits from Flavour and Thensome. Each kit costs $30 and there is a delivery charge of $100. All amounts are net of GST. January 7 Sold 20 Gourmet Dinner Just Heat It meals to Help Those in Need for $25 each plus a delivery fee of $50. The total GST charged was $55 January 9 Issued Cheque number 1034 to Prepared for Good. The cheque amount was $2024 and a discount of $176 (including GST of $16) was received for early payment. January 11 Purchased 200 Ultimate BBQ Flavours packs on…
I NEED HELP MAKING A TABLE, CAN SOMEONE HELP ME PLEASE ? R. Sunland Co. uses special journals and a general journal. The following transactions occurred during May 2020. May 1 R. Sunland invested $46,900 cash in the business. 2 Sold merchandise to Lawrie Co. for $6,530 cash. The cost of the merchandise sold was $4,470. 3 Purchased merchandise for $6,940 from J. Moskos using check no. 101. 14 Paid salary to H. Rivera $715 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $965, terms n/30. The cost of the merchandise sold was $550. 22 A check of $9,380 is received from M. Mangini in full for invoice 101; no discount given.
Record the following transactions for the month of January of Thomas Cook, a small finishing retailer,balance off all the accounts, and then extract a Income statement as at January 31, 2022:2022Jan 1 Started business with $10,500 cash.Jan 2 Put $9,000 of the cash into a bank account.Jan 3 Bought goods for cash $550.Jan 4 Bought goods on credit from: T. Dry $800; F. Hood $930; M. Smith $160; G. Low $510.Jan 5 Bought stationery on credit from Buttons Ltd $89.Jan 6 Sold goods on credit to: R. Tong $170; L. Fish $240; M. Singh $326; A. Tom $204.Jan 8 Paid rent by cheque $220.Jan 10 Bought fixtures on credit from Chiefs Ltd $610.Jan 11 Paid salaries in cash $790.Jan 14 Returned goods to: F. Hood $30; M. Smith $42.Jan 15 Bought van by cheque $6,500.Jan 16 Received loan from B Barclay by cheque $2,000.Jan 18 Goods returned to us by: R. Tong $5; M. Singh $20.Jan 21 Cash sales $145.Jan 24 Sold goods on credit to: L. Fish $130; A. Tom $410; R. Pleat $158.Jan 26 We paid the following by cheque:…
an online retailer selling tennis supplies. HST is calculated by the web software for every sale at a rate of 13%. Sales (before tax) for the last month was $125,000. All sales are on debit card or bank credit card. Cost of goods sold is 75% of sales and a perpetual inventory system is used. This information needs to be entered into the accounting system. Instructions (a) Calculate the amount of HST. (b) Prepare the journal entry to record the sales, sales taxes, and cost of goods sold. (c) Record the journal entry to record sending the collected HST to the government.
PB&J Cafe has the following transactions that need to be recorded: On April 7, 2019, $250 for peanuts the cafe purchased from The Peanut Gallery to make its patented peanut butter On April 30, 2019 $375 For Rover's Sake paid for catering a corporate event How would Reha record these transactions in the general journals for these accounts? Why does she need to keep separate general journals for each account? Your answer should be at least 100 words.
Review the following transactions and prepare any necessary journal entries for Olinda Pet Supplies. A. On March 2, Olinda Pet Supplies receives advance cash payment from a customer for forty dog food dishes (from their Dish inventory), costing $25 each. Olinda had yet to supply the dog food bowls as of March 2. B. On April 4, Olinda provides all of the dog food bowls to the customer.
American Signs allows customers to pay with their Jones credit card and cash. Jones charges American Signs a 3.5% service fee for each credit sale using its card. Credit sales for the month of June total $328,430, where 40% of those sales were made using the Jones credit card. Based on this information, what will be the total in Credit Card Expense at the end of June?

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