At the beginning of the current season on april 1 the

Assignment Help Accounting Basics

Reference no: EM13587905

At the beginning of the current season on April 1, the ledger of Flint Hills Pro Shop showed Cash $2,660; Inventory $3,500; and Common Stock $6,160. The following transactions occurred during April 2014.
Journalize the April transactions using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Apr. 5		Purchased golf bags, clubs, and balls on account from Akers Co. $1,700, terms 2/10, n/60.
7		Paid freight on Akers Co. purchases $80.
9		Received credit from Akers Co. for merchandise returned $600.
10		Sold merchandise on account to members $1,350, terms n/30.The merchandise sold had a cost of $880.
12		Purchased golf shoes, sweaters, and other accessories on account from Palmer Sportswear $950, terms 1/10, n/30.
14		Paid Akers Co. in full.
17		Received credit from Palmer Sportswear for merchandise returned $150.
20		Made sales on account to members $930, terms n/30. The cost of the merchandise sold was $550.
21		Paid Palmer Sportswear in full.
27		Granted credit to members for clothing that did not fit properly $90.
30		Received payments on account from members $1,200.

Reference no: EM13587905

Questions Cloud

Develop a dcf model using excel to estimate the fair : this question requires you among other things to calculate the stock price for yahoo inc. yhoo and provide the needed

Product cost abc company believes that it has an additional : product cost abc company believes that it has an additional 5000 machine hours available in the current facility before

What is activity based costing and how does it work what : what is activity based costing and how does it work? what does it do for a firm employing such a system? how do you go

Question 153 grams of metal have a specific heat of 0061 : question 153 grams of metal have a specific heat of 0.061 calg c and at a temp of 99.1c is added to 85.0 grams of water

At the beginning of the current season on april 1 the : at the beginning of the current season on april 1 the ledger of flint hills pro shop showed cash 2660 inventory 3500

Hamleys toy store is on regent street in londan it has a : hamleys toy store is on regent street in londan. it has a magic department near the main door. suppose that management

Question a typical aspirin tablet contains 324mg : question a typical aspirin tablet contains 324mg aspirinc9o4h8 a monoprotic acid ka2.810-4. a monoprotic acid donates a

What is the net present value of the costs of buying and : the ward county hospital center wants to buy a new mobile rimary care van to use in screening residents in an

An air puck bounces back and forth between two parallel : an air puck bounces back and forth between two parallel walls always traveling perpendicular to the walls. each time

User Account

All Pages