Biloxi gifts uses a sales journal a purchases journal

Assignment Help Accounting Basics
Reference no: EM13904873

Biloxi Gifts uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal as illustrated in this chapter. Journalize its November transactions that should be recorded in the general journal. For those not recorded in the general journal, identify the special journal where each should be recorded. 

Nov. 2 The company purchased $ 2,600 of merchandise on credit from the Midland Co., terms 2/10, n/30. 

12 The owner, T. Biloxi, contributed an automobile worth $ 17,000 to the company. 

16 The company sold $ 1,200 of merchandise (cost is $ 800) on credit to K. Myer, terms n/30. 

19 K. Myer returned $ 175 of (worthless) merchandise to the company originally purchased on November 16 (assume the cost of this merchandise is left in cost of goods sold). 

Reference no: EM13904873

Questions Cloud

What are the categories of provocative agents : What are the categories of provocative agents
Do any of the above suspects seem to fit your profile : Consider the profile that you created. Upload a paper that answers the following questions: Do any of the above suspects seem to fit your profile? Why or why not? Of the 3 suspects offered above, which one do you judge to be the "best fit" for this c..
Impact of a price change is statistically significant : You begin analyzing the data and notice that age, race, and sex each have some missing entries. Under what conditions would this pose and not pose a problem for your estimation?
Provide estimation of performance and risk of your portfolio : Explain the reasons for investing in the specific assets and companies Provide argumentations about the weekly transactions. Provide an estimation of the performance and risk of your portfolio.
Biloxi gifts uses a sales journal a purchases journal : Biloxi Gifts uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal as illustrated in this chapter.
Write down the appropriate green function g(x, x'') : If the potential on the plane z = 0 is specific to be Φ= V inside a circle of a radius a centered at the origin, and Φ= 0 outside that circle, find an integral expression for the potential at the point P specified in terms of cylindrical coordinat..
Following is information from fredrickson company : Following is information from Fredrickson Company for its initial month of business.
What is omegas unlevered cost of capital : What is Omega's unlevered cost of capital? What is Omega's after-tax debt cost of capital? What is Omega's weighted average cost of capital?
What are the main drugs of abuse produced by cannabis plant : Criminal Investigation - What are the main drugs of abuse produced by the cannabis plant

Reviews

Write a Review

Accounting Basics Questions & Answers

  Ann terrell invests 1497380 now for a series of 2000 annual

ann terrell invests 14973.80 now for a series of 2000 annual returns payments beginning one year from now. ann will

  Doughboy bakery would like to buy a new machine for putting

doughboy bakery would like to buy a new machine for putting icing and other toppings on pastries. these are now put on

  Jane castle and sean are dissolving their partnershiptheir

jane castle and sean are dissolving their partnership.their partnership agreement allocates each partner and equal

  Karen makes the following purchases and sales of stock

karen makes the following purchases and sales of stock transaction date number of shares company price per share

  Determine the total sales and the total cost of

determine the total sales and the total cost of merchandise sold for the period. journalize the entries in the sales

  Part 1 - summer tyme inc is considering a new three-year

part 1 - summer tyme inc. is considering a new three-year expansion project that requires an initial fixed asset

  What is technology diffusion

What is technology diffusion?

  Papyrutech corporation produces fine papers in three

comprehensive exercise second production department-weighted-average method lo2 lo3 lo4 lo5 papyrutech corporation

  Different from the expected return on plan assets.

At the end of the current year, Maple Company has a projected benefit obligation of $439,000 for its pension plan, and the fair value of its pension plan assets is $450,000. The company has a debit balance of $5,000 in its Accrued/Prepaid Pension Cos..

  On november 1 of the current year richard simmons

on november 1 of the current year richard simmons established a sole proprietorship. the following transactions

  One of two different transition methods

When the FASB issues a new generally accepted accounting principle, it may require companies to apply the new principle prospectively, or to account for the change by the retrospective adjustment method.

  Theory of capital structure rests on an assumption

The pecking order theory of capital structure rests on an assumption

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd