6.4A Record the following transactions for the month of January of a small finishing retailer,balance-off all the accounts, and then extract a trial balance as at 30 June.June 1 Started in business with £10,500 cash.23456810Bought fixtures on time from Chiefs Ltd £610.Paid salaries in cash £790.1114Returned goods to: F. Hood £30; M. Smith £42.15 Bought van by cheque £6,500.Received loan from B. Barclay by cheque £2,000.Goods returned to us by: R. Tong £5; M. Singh £20.Cash sales £145.1618212426Put £9,000 of the cash into a bank account.Bought goods for cash £550.Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510.Bought stationery on time from Buttons Ltd £89.Sold goods on time to: R. Tong £170; L. Fish £240; M. Singh £326; A. Tom £204.Paid rent by cheque £220.293030Sold goods on time to: L. Fish £130; A. Tom £410; R. Pleat £158.We paid the following by cheque: F. Hood £900; M. Smith £118.Received cheques from: R. Pleat £158; L. Fish £370.Received a further loan from B. Barclay by cash £500.Received £614 cash from A. Tom.

Name: 6.4A Record the following transactions for the month of January of a
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: 6.4A Record the following transactions for the month of January of a small finishing retailer,balance-off all the accounts, and then extract a trial balance as at 30 June.June 1 Started in business with £10,500 cash.23456810Bought fixtures on time f

Trial balanceA trial balance is a financial record where the totals of all ledger accounts, both in…

Business

Accounting

6.4A Record the following transactions for the month of January of a small finishing retailer, balance-off all the accounts, and then extract a trial balance as at 30 June. Started in business with £10,500 cash. Put £9,000 of the cash into a bank account. Bought goods for cash £550. 3 4 Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510. Bought stationery on time from Buttons Ltd £89. 5 6 Sold goods on time to: R. Tong £170; L. Fish £240; M. Singh £326; A. Tom £204. Paid rent by cheque £220. Bought fixtures on time from Chiefs Ltd £610. Paid salaries in cash £790. June 1 2 8 10 11 14 Returned goods to: F. Hood £30; M. Smith £42. Bought van by cheque £6,500. 15 16 Received loan from B. Barclay by cheque £2,000. Goods returned to us by: R. Tong £5; M. Singh £20. Cash sales £145. 18 Sold goods on time to: L. Fish £130; A. Tom £410; R. Pleat £158. We paid the following by cheque: F. Hood £900; M. Smith £118. Received cheques from: R. Pleat £158; L. Fish £370. Received a further loan from B. Barclay by cash £500. Received £614 cash from A. Tom. 21 24 26 29 30 30

6.4A Record the following transactions for the month of January of a small finishing retailer, balance-off all the accounts, and then extract a trial balance as at 30 June. Started in business with £10,500 cash. Put £9,000 of the cash into a bank account. Bought goods for cash £550. 3 4 Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510. Bought stationery on time from Buttons Ltd £89. 5 6 Sold goods on time to: R. Tong £170; L. Fish £240; M. Singh £326; A. Tom £204. Paid rent by cheque £220. Bought fixtures on time from Chiefs Ltd £610. Paid salaries in cash £790. June 1 2 8 10 11 14 Returned goods to: F. Hood £30; M. Smith £42. Bought van by cheque £6,500. 15 16 Received loan from B. Barclay by cheque £2,000. Goods returned to us by: R. Tong £5; M. Singh £20. Cash sales £145. 18 Sold goods on time to: L. Fish £130; A. Tom £410; R. Pleat £158. We paid the following by cheque: F. Hood £900; M. Smith £118. Received cheques from: R. Pleat £158; L. Fish £370. Received a further loan from B. Barclay by cash £500. Received £614 cash from A. Tom. 21 24 26 29 30 30

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter24: Recording International And Internet Sales

Section: Chapter Questions

Problem 1MP

See similar textbooks

Similar questions

On March 24, MS Companys Accounts Receivable consisted of the following customer balances: S. Burton 310 A. Tangier 240 J. Holmes 504 F. Fullman 110 P. Molty 90 During the following week, MS made a sale of 104 to Molty and collected cash on account of 207 from Burton and 360 from Holmes. Prepare a schedule of accounts receivable for MS at March 31, 20--.
ook ne nces Supply Club, Incorporated, sells a variety of paper products, office supplies, and other products used by businesses and individual consumers. During July 2024, it started a loyalty program through which qualifying customers can accumulate points and redeem those points for discounts on future purchases, Redemption of a loyalty point reduces the price of one dollar of future purchases by 20% (equal to 20 cents) Customers do not earn additional loyalty points for purchases on which loyalty points are redeemed. Based on past experience, Supply Club estimates a 60% probability that any point issued will be redeemed for the discount. During July 2021, the company redeemed 12,400 points and sold additional product of $155,000, so it recorded $167,400 of revenue. The aggregate stand-alone selling price of the purchased products is $167,400. Eighty percent of sales were cash sales, and the remainder were credit sales Required: 1. & 2. Prepare Supply Club's journal entry to record…
16.3 You are to enter up the sales, purchases, returns inwards and returns outwards day books from the following details, then to post the items to the relevant accounts in the sales and chase ledgers. The total of the day books are then to be transferred to the accounts in the General Ledger. 20X9 May 1 Credit sales: T Thompson f56; L Rodriguez £148; K Barton f145. 3 Credit purchases: P Potter £144; H Harris £25; B Spencer £76. 7 Credit sales: K Kelly £89; N Mendes £78; N Lee £257. 9 Credit purchases: B Perkins £24; H Harris £58; H Miles £123. 11 Goods returned by us to: P Potter £12; B 5pencer £22. 14 Goods returned to us by: T Thompson £5; K Barton £11; K Kelly £14. 17 Credit purchases: H Harris [54; B Perkins £65; L Nixon £75. Goods returned by us to B Spencer £14. 24 Credit sales: K Mohammed £57; K Kelly f65; O Green £112. Goods returned to us by N Mendes £24. 71 20 11 28 31 Credit sales: N Lee £55.
Journalize the following transactions for a perpetual company: a. Issued credit memo no. 2, $37, to Lee Co. An allowance was granted and the customer kept the merchandise. The sale was on account. b. Cash sales, $175, with a cost of $60. c. Received check from Denise Co., $600, less 1% discount. d. Bought merchandise on account from Jaxon Co., $50, invoice no. 20; term 2/10, n/30. e. Cash purchase of merchandise, $45. f. Issued debit memo to Jaxon Co $30, for merchandise returned from invoice no. 20.
9.4A Enter the following in the three-column cash book of an office supply shop. Balance-off the cash book at the end of the month and show the discount accounts in the general ledger. June 1 Balances brought forward: Cash £420; Bank £4,940. 2 The following paid us by cheque, in each case deducting a 5 per cent cash discount: S. Braga £820; L. Pine £320; G. Hodd £440; M. Rae £1,040. 3 Cash sales paid direct into the bank £740. 5 Paid rent by cash £340. 6 We paid the following accounts by cheque, in each case deducting 2'2 per cent cash discount: M. Peters £360; G. Graham £960; F. Bell £400. 8 Withdrew cash from the bank for business use £400. 10 Cash sales £1,260. 12 B. Age paid us their account of £280 less £4 cash discount, by cheque. 14 Paid wages by cash £540. 16 We paid the following accounts by cheque: R. Todd £310 less cash dis- count £15; F. Dury £412 less cash discount £12. 20 Bought fixtures by cheque £4,320.
Assume that Sohar pipers Cores LC sold OMR 20000 pipes to the retailer with the credit terms of 2/10 , n / 30 . The retailer paid OMR 10000 within 10 days . From the following given options , identify the journal entry recorded by the company for the first payment made by credit customer . a . Dr Cash AC OMR 10000 and Cr Accounts receivables A/C OMR 10000 b. Dr Accounts receivables A / C OMR 10000 and Cr Cash A / C OMR 9800 , C Sales Discount A / C OMR 200 • c. Dr Cash A / C OMR 9800 , Dr Sales discount A / C OMR 200 and Cr Accounts receivables . A/C OMR 10000 d. None of the given options
Allister's payables ledger control account has a balance at 1 October 20X8 of $34,500 credit. During October, credit purchases were $78,400, cash purchases were $2,400 and payments made to suppliers, excluding cash purchases, and after deducting cash discounts of $1,200, were $68,900. Purchase returns were $4,700. What was the closing balance on the purchase ledger control account? %24
6. Your company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this? A. sales journal< B. purchases journal« C. cash receipts journal< D. cash disbursements journal E. general journale
1. Record journal entries for the following transactions of Furniture Warehouse. A. Aug. 3: Sold 15 couches at $114 each to a customer, credit terms 4/15, n/30, invoice date August 3; the couches cost Furniture Warehouse $14 each. B. Aug. 8: Customer returned 2 couches for a full refund. The merchandise was in sellable condition at the original cost. C. Aug. 18: Customer paid their account in full with cash.
Questions: 1. Given the following, Journalize, record, post and prepare a schedule of accounts receivable at the end of April for Friends Co. Partial General Ledger Cash 110 Inventory 130 Sales Discounts 430 Dr. Cr. Dr. Cr. Dr. Cr. Bal. 1,060 Bal. 5,000 Accounts Receivable 120 Sales 410 Cost of Goods Sold 510 Dr. Cr. Dr. Cr. Dr. Cr. Bal. 600 Accounts Receivable Subsidiary Ledger Blue Co. Pete Long Co. Dr. Cr. Dr. Cr. Bal. 400 Bal. 200 April 9 Receíved cheque from Blue Co, for balance due less 2% discount. April 12 Cash sale collected, $500. Cost of the inventory sold was $400. Tip: Calculate Sales Discount and debit it in first transaction.
Prepare journal entries to record the following transactions entered into by the Marrow Company: accurately only the following account names (not case sensitive): Inventory, A/Rec, N/Rec, Cash, Sales, Sales R/A, Sales/Disc, CGS, Int/Rec, Int/Rev. June 1 Received a $6,000, 12%, 1-year note from Sue Forest as full payment on her account. Account Dr. Account Cr. Nov. 1 Sold merchandise on account to Reeves, Inc., for $7,000, terms 2/10, n/30.Account Dr. Account Cr. Nov. 5 Reeves, Inc., returned merchandise worth $1,000.Account Dr. Account Cr. Nov. 9 Received payment in full from Reeves, Inc.Account Dr. Account Dr. Account Cr. Dec. 31 Accrued interest on Forest's note.Account Dr. Account Cr.
Purchases Transactions Nieman Company purchased merchandise on account from a supplier for $14,000, terms 1/10, n/30. Nieman returned $3,400 of the merchandise and received full credit. a. If Nieman Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar.$fill in the blank 1 b. What account is debited by Nieman Company to record the return?