Which would be the correct posting of the General Journal Entry shown in Figure 3.03 M to the General Ledger? GENERAL JOURNAL Page 11 DOC. POST. GENERAL DATE ACCOUNT TITLE NO. REF. DEBIT CREDIT Supplies-Store Accts. Pay./Shoe Shack Jun M44 1005 220.00 220.00 Figure 3.03 M O Debit Supplies-Store $220; credit Accounts Payable/Shoe Shack, $220 O Debit Supplies-Store $220; credit Accounts Payable-Controlling Account, $220 and Accounts Payable/Shoe Shack, $220 O Debit Accounts Payable-Controlling Account, $220; credit Accounts Payable/Shoe Shack, $220 O Debit Accounts Payable/Shoe Shack, $220; credit Supplies-Store $220

Which would be the correct posting of the General Journal Entry shown in Figure 3.03 M to the General Ledger? GENERAL JOURNAL Page 11 DOC. POST. GENERAL DATE ACCOUNT TITLE NO. REF. DEBIT CREDIT Supplies-Store Accts. Pay./Shoe Shack Jun M44 1005 220.00 220.00 Figure 3.03 M O Debit Supplies-Store $220; credit Accounts Payable/Shoe Shack, $220 O Debit Supplies-Store $220; credit Accounts Payable-Controlling Account, $220 and Accounts Payable/Shoe Shack, $220 O Debit Accounts Payable-Controlling Account, $220; credit Accounts Payable/Shoe Shack, $220 O Debit Accounts Payable/Shoe Shack, $220; credit Supplies-Store $220

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Description: Which would be the correct posting of the General Journal Entry shown in Figure 3.03M to the General Ledger?GENERAL JOURNALPage 11DOC.PO ST.GENERALDATEACCOUNT TITLENO.REF.DEBITCREDITJun9 Supplies-StoreM441005220.00Accts. Pay./Shoe Shack220.00Figure

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 7SEB: JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a...

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The debits and credits from two transactions are presented in the following customer account: NAME Mobility Products Inc. ADDRESS 46 W. Main St. Date Item Post. Ref. Debit Credit Balance Aug. 1 Balance ✔ 540 Aug. 10 Invoice No. 59 CR24 103 437 Aug. 17 Invoice No. 64 R35 129 566 Select the choice that describes each transaction and the source of each posting. Date Action Invoice No. Posted From Journal page Aug. 10 fill in the blank 2 fill in the blank 4 Aug. 17 fill in the blank 6 fill in the blank 8
Record the following transactions in general journal form for Ford Education Outfitters and Romero Textbooks, Inc. a. Ford Educational Outfitters bought merchandise on account from Romero Textbooks, Inc., invoice no. 10594, 1,875.34; terms net 30 days; FOB destination. Romero Textbooks, Inc., paid 93.80 for shipping. b. Ford Education Outfitters received credit memo no. 513A from Romero Textbooks, Inc., for merchandise returned, 135.78.
JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning balance in Accounts Receivable is 3,900. Beginning balances in selected customer accounts are Adams, 850; Greene, 428; and Phillips, 1,018.
Review the following transactions and prepare any necessary journal entries for Tolbert Enterprises. A. On April 7, Tolbert Enterprises contracts with a supplier to purchase 300 water bottles for their merchandise inventory, on credit, for $10 each. Credit terms are 2/10, n/60 from the invoice date of April 7. B. On April 15, Tolbert pays the amount due in cash to the supplier.
Prepare a trial balance for Lavender Company using the journal entries in PB5.
Journalize the following transactions in general journal form. a. Bought merchandise on account from Brewer, Inc., invoice no. B2997, 914; terms net 30 days; FOB destination. b. Received credit memo no. 96 from Brewer, Inc., for merchandise returned, 238.
Sold goods for $650, credit terms net 30 days. Which 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 journal
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.
Record the following transactions in general journal form for Ford Education Outfitters and Romero Textbooks, Inc. Ford Educational Outfitters bought merchandise on account from Romero Textbooks, Inc., invoice no. 10594, $1,888.13; terms net 30 days; FOB destination. Romero Textbooks, Inc., paid $90.31 for shipping. Ford Education Outfitters received credit memo no. 513A from Romero Textbooks, Inc., for merchandise returned, $149.93. Required: 1. For Ford Education Outfitters. Round your answers to the nearest cent. GENERAL JOURNAL PAGE DATE DESCRIPTION DOC. NO. POST. REF. DEBIT CREDIT (a) Purchased merchandise from Romero Textbooks, Inc., invoice no. 10594, terms n/30. (b) Credit memo no. 513A for return of merchandise. 2. For Romero Textbooks, Inc. Round your answers to the nearest cent.…
This problem will utilize the OverPriced Jeans company (OPJ) from Problem 2-1. Use the Excelworkbook Chapter 03 b - Problem 3-1 Forms to complete this problem.Notice that the beginning balances have been put into the General Ledger accounts. Thesebeginning account balances were the January ending account balances from Problem 2-1.Requirement 1For each of the following transactions make the required entries in the General Journal:(See the General Ledger tab in the workbook Chapter 03 b - Problem 3-1 Forms for the accounts in OPJ’saccounting system.)Feb 01 Take $4,000 cash out of Big Bank to pay for February’s warehouse rent.Feb 04 Sale of inventory to a customer – selling price $62,000 – cost of inventory sold$16,000 – customer paid cash which was deposited in Big Bank.Feb 07 Take $10,000 cash out of Little Bank to pay employees for wages they have earned.Feb 15 Sale of inventory to a customer – selling price $88,000 – cost of inventory sold$22,000 – customer will pay in the future.Feb…
Using the QBO Sample Company, Craig's Design and Landscaping Services, complete the following. 1. Create Sales Receipt. Select Create (+) icon > Sales Receipt Select Customer: Dukes Basketball Camp Select Sales Receipt Date: Current Date Select Payment Method: Check Enter Reference No.: 432 Select Deposit to: Undeposited Funds Select Product/Service: Landscaping: Maintenance and Repair Enter QTY: 9 Enter Rate: 33.00 What is the Total for the Sales Receipt? (Answer this question in the table shown below. Round your answer to 2 decimal places.) Select Save and leave the Sales Receipt form open 2. View the Transaction Journal for the Sales Receipt. From the bottom of the Dukes Basketball Camp Sales Receipt, select More > Transaction Journal What are the Account and Amount Debited? (Answer this question in the table shown below. Round your answer to 2 decimal places.) What are the Account and Amount Credited? (Answer this question in the table shown below. Round your…
Using the journal entries recorded for the previous worksheet, post the them on their respective general and subsidiary ledgers, and prepare the trial balance for March 2019. Presented below are the transactions for Mariano Lerin Bookstore for March 2019. Mar. 2 Purchased merchandise on credit from Digao Publishers, terms 2/10, n/30, P74,000. 3 Sold merchandise on credit to Detoya Book Shop, terms 1/10, n//30, P10,000. 5 Sold merchandise for cash, P7,000. 6 Purchased and received merchandise on credit from Made Easy Bookstore, terms 2/10, n/30, P42,000. 7 Received freight bill from Super Express from shipment received on March 6, P570. 9 Sold merchandise on credit to Recoletos Books, terms 1/10, n/30, P38,000. 10 Purchased merchandise from Digao Publishers, terms 2/10, n/30, P26,500. 11 Received freight bill from Super Express for sale on Mar. 9, P291. 12 Paid Digao Publishers for purchase of Mar. 2. 13…