EBK HORNGREN'S ACCOUNTING, THE FINANCIA
12th Edition
ISBN: 9780134490496
Author: Matsumura
Publisher: YUZU
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Chapter 7, Problem P7.31PS
Using all journals 2
This problem continues the Crystal Clear Cleaning practice
Crystal Clear Cleaning has decided that, in addition to providing cleaning services, it will sell cleaning products Crystal Clear uses the perpetual inventory system During December 2018, Crystal Clear completed the following transactions
Dec. 2 Purchased 1000 units of inventory for $4,000 on account from Sparkle
Company on terms. 5110, W20,
S Purchased 1,200 units of inventory from Borax on account with terms
4110, rhr30. The total invoice was for $6,000, which included a $300 freight
charge.
7 Returned 300 units of inventory to Sparkle from the December 2 purchase
(cost $1,200).
9 Paid Borax
1 Sold 500 units of goods to Happy Maids for $5,500 on account with terms
rV30. Crystal Clear’s cost of the goods was S2.000.
12 Paid Sparkle.
15 Received 100 units with a retail price of $1,100 back from customer Happy
Maids. The goods cost Crystal Clear $400.
21 Received payment from Happy Maids. settlingthe amount due in full.
28 Sold 500 units of goods to Bridget. Inc. on account for $6,500 (cost $2,022).
Terms 1/15, n/30.
29 Paid cash for utilities of $550.
30 Paid cash for Sales Commission Expense of $214.
31 Received payment from Bridget, Inc. less discount,
Requirements
1. Use the appropriate journal to record the preceding transactions ii a sues journal (omit the Invoice No column), a cash receipts journal (omit Sales Discount Forfeited column). a purchases journal, a cash payments journal(omit the Check No. column). and a general journal.
2. Total each column of the special journals Show that total debits equal total credits in each special journal.
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Chapter 7 Solutions
EBK HORNGREN'S ACCOUNTING, THE FINANCIA
Ch. 7 - Which of the following benefits of an effective...Ch. 7 - Prob. 2QCCh. 7 - Which of the following is not a special journal?...Ch. 7 - Mountain Day Spa sold merchandise inventory on...Ch. 7 - Prob. 5QCCh. 7 - Centex Sound Systems purchased merchandise...Ch. 7 - Every transaction recorded in the cash payments...Ch. 7 - Prob. 8QCCh. 7 - Which is a disadvantage of an enterprise resource...Ch. 7 - Prob. 1RQ
Ch. 7 - Prob. 2RQCh. 7 - Explain the three basic components of an...Ch. 7 - What is a special journal?Ch. 7 - What is the purpose of a subsidiary ledger?Ch. 7 - Prob. 6RQCh. 7 - List the four special journals often used in a...Ch. 7 - Explain the posting process of the sales journal.Ch. 7 - Provide some examples of transactions that would...Ch. 7 - What are the columns that are typically used in...Ch. 7 - Prob. 11RQCh. 7 - When is the general journal used in a manual...Ch. 7 - Explain the two components of a computerized...Ch. 7 - Prob. 14RQCh. 7 - What is an enterprise resource planning (ERP)...Ch. 7 - Prob. 16RQCh. 7 - How would a business record a sale of services on...Ch. 7 - How would a business record a bill received in...Ch. 7 - Prob. S7.1SECh. 7 - Defining components of an accounting information...Ch. 7 - Identifying special journals Learning Objective 2...Ch. 7 - Prob. S7.4SECh. 7 - Posting transactions from a sales journal to a...Ch. 7 - Prob. S7.6SECh. 7 - Posting transactions from a cash receipts journal...Ch. 7 - Recording transactions in a purchases journal...Ch. 7 - Posting transactions from a purchases journal to a...Ch. 7 - Prob. S7.10SECh. 7 - Prob. S7.11SECh. 7 - Prob. S7.12SECh. 7 - Prob. S7.13SECh. 7 - Prob. E7.14ECh. 7 - Prob. E7.15ECh. 7 - Using the sales and cash receipts journals...Ch. 7 - Prob. E7.17ECh. 7 - Prob. E7.18ECh. 7 - Prob. E7.19ECh. 7 - Recording transactions-cash payments journal...Ch. 7 - Posting from the purchases journal; balancing the...Ch. 7 - Identifying transactions in the accounts payable...Ch. 7 - Prob. E7.23ECh. 7 - Prob. P7.24APGACh. 7 - Prob. P7.25APGACh. 7 - Prob. P7.26APGACh. 7 - Prob. P7.27BPGBCh. 7 - Using the purchases, cash payments, and general...Ch. 7 - Using all Journals, posting, and balancing the...Ch. 7 - Continuing Problem P7-3D Using aft journals This...Ch. 7 - Using all journals 2 This problem continues the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Tying It All Together Case Before you begin this...Ch. 7 - Decision Case 7-1 A fire destroyed certain...Ch. 7 - Fraud Case 7-1 Didrikson Rubin, the auditor of Red...
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