Muscat Supplies LLC is trading wholesale and retail merchandise business in Sohar. The business have more suppliers (vendors) which can be found in a. Cash receipt journal b. Purchase ledger c. General journal d. Sales journal
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- PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS PAYABLE LEDGER The purchases journal of Kevins Kettle, a small retail business, is as follows: Required 1. Post the total of the purchases journal to the appropriate general ledger accounts. Use account numbers as shown in the chapter. 2. Post the individual purchase amounts to the accounts payable ledger.A customer just charged $150 of merchandise using MasterCard. Which special journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalPURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS PAYABLE LEDGER The purchases journal of Ryans Rats Nest, a small retail business, is as follows: REQUIRED 1. Post the total of the purchases journal to the appropriate general ledger accounts. Use account numbers as shown in the chapter. 2. Post the individual purchase amounts to the accounts payable ledger.
- For each of the following statements, fill in the blanks with the correct account names. A. A retailer purchases merchandise on credit. The retailer would recognize this transaction by debiting _____ and crediting _______. B. A retailer pays for purchased merchandise within the discount window. The retailer would recognize this transaction by debiting ________ and crediting _________ and ________. C. A customer returns merchandise to the retailer and receives a full refund. The retailer would recognize this transaction by debiting _________ and crediting _________ if the customer had not yet paid on their account. D. A customer pays for purchased merchandise within the discount window. The retailer would recognize this transaction by debiting ________ and _______, and crediting _________.A customer just charged $150 of merchandise on the companys own charge card. Which special journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalNizwa Supplies LLC is trading wholesale merchandise business in Muscat. The Business have more Suppliers (vendors) which can be found in a. Sales journal b. Purchase ledger c. General journal d. Cash receipt journal
- 38-Nizwa Supplies LLC is trading wholesale merchandise business in Muscat. The Business have more Suppliers (vendors) which can be found in a. Purchase ledger b. Cash receipt journal c. Sales journal d. General journal27-Nizwa Supplies LLC is trading wholesale merchandise business in Muscat. The Business have more Suppliers (vendors) which can be found in a. Sales journal b. Cash receipt journal c. Purchase ledger d. General journalGive an example for the transactions took place in a Zafar Textile Industry. Record the relevant transactions in a sales book and sales returns book. i. Goods purchased for cash (1 transaction)ii. Materials purchased on credit (1 transaction)iii. Material purchased with cash discount (1 transaction)iv. Goods sold for cash (1 transaction)v. Goods sold on credit with trade discount (1 transaction)vi. Goods sold on credit (3 transactions)vii. Sold goods returned (2 transactions
- Select all that apply A partial Sales Journal for ABC Co. is shown below. Show how to post these transactions into the general ledger by selecting the correct actions below. (Check all that apply.) Account Debited PR Accounts Receivable Dr. Sales Cr. Cost of Goods Sold Dr. Inventory Cr. Sparky's 1000 300 Q-Mart 3,500 800 Totals $4,500 $1,100 Multiple select question. A $4,500 credit is posted to the Sales account in the general ledger. An $1,100 debit is posted to the Cost of Goods Sold account in the general ledger. The account number of the Sales account is entered below the Accounts Receivable Dr./Sales Cr. column. A $1,000 debit is posted to the Accounts Receivable account in the general ledger on Mar. 4. An "S" is posted in the PR columns of the general ledger after posting is completed. A check mark is posted in the PR columns of the general ledger after posting is completed.Give supposed examples for the transactions took place in a Zafar Textile Industry. Record the relevant transactions in a sales book and sales returns book. i. Goods purchased for cash (1 transaction)ii. Materials purchased on credit (1 transaction)iii. Material purchased with cash discount (1 transaction)iv. Goods sold for cash (1 transaction)v. Goods sold on credit with trade discount (1 transaction)vi. Goods sold on credit (3 transactions)vii. Sold goods returned (2 transactions)Nguyen Company uses a single-column purchases journal to record transactions with its suppliers. The company uses a multi-column cash payments journal.For each of the following transactions, indicate (a) the journal, and (b) the columns in the journal that should be used in recording each transaction. (Enter answers in alphabetical order.) (b)Columns in the Journal Transactions (a)Journal Dr. Cr. 1. Purchased merchandise on account. select a journal Cash PaymentsCash ReceiptsGeneralPurchasesSales select a debit column InventoryAccounts PayableSales ExpenseAccounts ReceivableOther AccountsSales RevenueCost of Goods SoldCash select a credit column Accounts ReceivableSales RevenueAccounts PayableCost of Goods SoldCashInventorySales ExpenseOther Accounts 2.…
