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PURCHASES TRANSACTIONS Ann Benton, owner of Benton’s Galleria, made the following purchases of merchandise on account during the month of October: Oct. 2 Purchase Invoice No. 321, $1,950, from Boggs Distributors. 7 Purchase Invoice No. 152, $2,915, from Wolfs Wholesaler. 10 Purchase Invoice No. 634, $3,565, from Komuro & Co. 16 Purchase Invoice No. 349, $2,845, from Fritz & McCord, Inc. 24 Purchase Invoice No. 587, $3,370, from Boggs Distributors. 26 Purchase Invoice No. 764, $2,240, from Sanderson Company. 31 Purchase Invoice No. 672, $1,630, from Wolfs Wholesaler. Required 1. Record the transactions starting with page 16 of a general journal. 2. Post from the general journal to the general ledger accounts and to the accounts payable ledger accounts. Use general ledger account numbers as shown in the chapter.

BuyFind

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
Publisher: Cengage Learning,
ISBN: 9781337794756
BuyFind

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
Publisher: Cengage Learning,
ISBN: 9781337794756

Solutions

Chapter
Section
Chapter 11, Problem 9SPB
Textbook Problem

PURCHASES TRANSACTIONS Ann Benton, owner of Benton’s Galleria, made the following purchases of merchandise on account during the month of October:

Oct. 2    Purchase Invoice No. 321, $1,950, from Boggs Distributors.

7    Purchase Invoice No. 152, $2,915, from Wolfs Wholesaler.

10    Purchase Invoice No. 634, $3,565, from Komuro & Co.

16    Purchase Invoice No. 349, $2,845, from Fritz & McCord, Inc.

24    Purchase Invoice No. 587, $3,370, from Boggs Distributors.

26    Purchase Invoice No. 764, $2,240, from Sanderson Company.

31    Purchase Invoice No. 672, $1,630, from Wolfs Wholesaler.

Required

  1. 1. Record the transactions starting with page 16 of a general journal.
  2. 2. Post from the general journal to the general ledger accounts and to the accounts payable ledger accounts. Use general ledger account numbers as shown in the chapter.

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Chapter 11 Solutions

College Accounting, Chapters 1-27
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Ch. 11 - Deering Housewares purchased merchandise for 1,200...Ch. 11 - Based on the following data for Daves Supply...Ch. 11 - The following journal entries are for current...Ch. 11 - On June 23, Felini Plumbings accounts payable...Ch. 11 - Identify the major documents commonly used in the...Ch. 11 - Distinguish between a cash discount and a trade...Ch. 11 - What is a voucher system?Ch. 11 - In a voucher system, a payment is supported by...Ch. 11 - Describe how each of the following accounts is...Ch. 11 - How are cost of goods sold and gross profit...Ch. 11 - What steps are followed in posting purchases from...Ch. 11 - What steps are followed in posting purchases from...Ch. 11 - What steps are followed in posting purchases...Ch. 11 - What steps are followed in posting cash payments...Ch. 11 - What steps are followed in posting cash payments...Ch. 11 - If the total of the schedule of accounts payable...Ch. 11 - PURCHASING DOCUMENTS AND FLOWCHART LABELING A...Ch. 11 - TRADE DISCOUNT AND CASH DISCOUNTS Merchandise was...Ch. 11 - PURCHASE TRANSACTIONS AND T ACCOUNTS Using T...Ch. 11 - COMPUTING GROSS PROFIT The following data were...Ch. 11 - JOURNALIZING PURCHASES TRANSACTIONS Journalize the...Ch. 11 - JOURNALIZING PURCHASES RETURNS AND ALLOWANCES AND...Ch. 11 - JOURN ALIZING CASH PAYMENTS TR ANS ACTIONS Enter...Ch. 11 - SCHEDULE OF ACCOUNTS PAYABLE Ryans Express, a...Ch. 11 - PURCHASES TRANSACTIONS J. B. Speck, owner of...Ch. 11 - CASH PAYMENTS TR ANS ACTIONS Sam Santiago operates...Ch. 11 - PURCHASES AND CASH PAYMENTS TRANSACTIONS Emily...Ch. 11 - SCHEDULE OF ACCOUNTS PAYABLE Based on the...Ch. 11 - PURCHASING DOCUMENTS AND FLOWCHART LABELING A...Ch. 11 - TRADE DISCOUNT AND CASH DISCOUNTS Merchandise was...Ch. 11 - PURCHASE TRANSACTIONS AND T ACCOUNTS Using T...Ch. 11 - COMPUTING GROSS PROFIT The following data were...Ch. 11 - JOURNALIZING PURCHASES TRANSACTIONS Journalize the...Ch. 11 - JOURNALIZING PURCHASES RETURNS AND ALLOWANCES AND...Ch. 11 - JOURN ALIZING CASH PAYMENTS TR ANS ACTIONS Enter...Ch. 11 - SCHEDULE OF ACCOUNTS PAYABLE Crystals Candles, a...Ch. 11 - PURCHASES TRANSACTIONS Ann Benton, owner of...Ch. 11 - CASH PAYMENTS TRANSACTIONS Kay Zembrowski operates...Ch. 11 - PURCHASES AND CASH PAYMENTS TRANSACTIONS Debbie...Ch. 11 - SCHEDULE OF ACCOUNTS PAYABLE Based on the...Ch. 11 - You are working as a summer intern at a rapidly...Ch. 11 - Bobs Discount Auto Parts receives a cash discount...Ch. 11 - Michelle French owns and operates Books and More,...Ch. 11 - Record the following transactions in a general...

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