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Hello!! I am international student. I need this assingment's answer.. Could you help me?,Hello!! This is international student. Coult you help me? I cant understand...,Hello!! I am international I dont know how I can useing this site. I have a acc 111 homework. but I can't understand... Could you help me? Do I have to write the question? P6-1. The general ledger of pockaz Electronics includes the following selected accounts, along woth their account number. Cash -111 Accounts receivable- 112 Notes receivable- 115 Inventory-131 Equipment- 141 Land- 142 Sales Revenue- 411 Sales discounts- 412 Sales Raturns and Allowances- 413 Interest Revenue- 417 Gain on Sale of Land- 418 Cost of goods sold- 511 All credit sales are on the company's standard terms of 2/10, n/30. Sales and cash receipts transactions in September were as follows. Sept.4 - Sold inventory on credit to J. Quilleran $1,200. Pickax's cost of these goods was $480. Sept 7 - As an accommodation to another company, sold new equipment for its cost of $1,1115, receiving cahs in this amount. 7 - Cash sales for the week totaled $3,162(cost $1,264) sept 10 - Sold a surround sound system to Duncan, Inc., on account, $4,245(cost $1,698) sept 11 - Sold land that cost $3,4000 for cash of $53.000. The difference is a gain on sale of land. sept 12 - Sold goods on acount to Weatherby good, $2,100(cost $840) sept 13 - Received cash from J.Quilleran in full settlement of his account receivable from September 4. sept 14- Cash sales for the week were $2,795(cost$1,118) sept 17 - Sold inventroy on credit to Riker and Riker, a partnership, $1,60(cost $504) sept 20 - Received inventory sold on Sept 10 to Duncan, Inc, for $170, The goods we shipped were unsatisfactory. These goods cost pickax $68 20 - Sold a stereo to Weathervy good on account, $5,500 (cost $2,200) sept 21 - Cash sales for the week were $3,260(cost$1,304) sept 22 - Received $1,700 cash from Ducan, Inc, in partial settlement of its account receivable. There was no discount. sept 24 - Received cash from Riker and Riker for its account receivable from september 17. sept 25- Sold goods on account to h,Rice Co,. $2,830( cost $ 1,132) sept 27 - Collected $5,880 on a note receivablem of which $380 was interest. sept 28 - Cash sales for the week totaled $4,160(cost $1,664) sept 29 - Sold inventory on account to Klingenschoen Corporation, $3,200(coast $1,280) sept 29 - Received goods sold on September 25 to H,Rice Co, for $950. The goods were damaged in shipment. The salvage value of these goods was $134. Record the inventory at its salvage value. sept 30 - Received $2,375 cash on account from Duncan , Inc. There was no discount. Requirments. 1. Use the appropriate journal to record the preceding transactions in a sales journal (omit the Invoice No.column) a chas receipts journal and a general journal. Pickax Electronics records sales returns and allowances in the general journal 2.Total each column of the cash receipts journal. Determine that total debits that total creidts. 3. Show how postings would be made from the journals by writing the account numbers and check marks in the appropriate places in the jounals.

 

Paper#7795 | Written in 18-Jul-2015

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