Enter the given items in the books

Assignment Help Financial Accounting
Reference no: EM131385432

You are to enter the following items in the books, post to personal accounts, and show the transfers to the General Ledger.

2017
July

1 Credit purchases from: K. Hill £380; M. Norman £500; N. Senior £106.

July 3 Credit sales to: E. Rigby £510; E. Phillips £246; F. Thompson £356.

5 Credit purchases from: R. Morton £200; J. Cook £180; D. Edwards £410; C. Davies £66.

8 Credit sales to: A. Green £307; H. George £250; J. Ferguson £185.

12 Returns outwards to: M. Norman £30; N. Senior £16.

14 Returns inwards from: E. Phillips £18; F. Thompson £22.

20 Credit sales to: E. Phillips £188; F. Powell £310; E. Lee £420.

24 Credit purchases from: C. Ferguson £550; K. Ennevor £900.

31 Returns inwards from: E. Phillips £27; E. Rigby £30.

31 Returns outwards to: J. Cook £13; C. Davies £11.

Reference no: EM131385432

Questions Cloud

Draw up a sales invoice for each of the above sales : F. Benjamin of 10 Lower Street, Plymouth, is selling the following items at the recommended retail prices as shown: white tape £10 per roll, green felt at £4 per metre, blue cotton at £6 per sheet, black silk at £20 per dress length. He makes the ..
Enter up the purchases day book and the returns outwarda : You are to enter up the Purchases Day Book and the Returns Outwards Day Book from the following details, then to post the items to the relevant accounts in the Purchases Ledger and to show the transfers to the General Ledger at the end of the mont..
Enter up the sales day book and the returns inwards : Enter up the Sales Day Book and the returns inwards day book from the following details. Then post to the customers accounts and show the transfers to the General Ledger.
Enter up sales purchases returns inwards and returns outward : 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 purchases ledgers.
Enter the given items in the books : Enter the given items in the books, post to personal accounts, and show the transfers to the General Ledger.- Credit purchases from: K. Hill £380; M. Norman £500; N. Senior £106.
Show the journal entries necessary to record the items : Show the journal entries necessary to record the following items:- Bought office furniture on credit from Durham Brothers Ltd £1,400.
Record the dialy transactions for the month of may : You are to open the books of F. Polk, a trader, via the journal to record the assets and liabilities, and are then to record the dialy transactions for the month of May. A trial balance is to be extracted as on 31 May 2017.
Why do some businesses keep a petty cash book : Why do some businesses keep a petty cash book as well as a cash book?- On 1 May Kathryn Rochford received an amount of cash from the cashier to restore the imprest. Enter this transaction in the petty cash book
Why does dillon''s promissory estoppel claim fail : What were the legal issues in this case? What did the court decide? What was the implied contract in this case? How did the employer breach it?Why does the disclaimer in the employee manual not have the effect desired by the employer? Why does Dillon..

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the future value

What is the future value of $1000 in fifteen years at an interest rate of nine percent?

  What percentage change in average pce anticipated under jit

What is the percentage change in average PCE anticipated under JIT? Define the terms cycle time and processing (manufacturing) time. How can processing time be broken down further?

  Preparation of journal entries for payroll accounting

Preparation of Journal entries for payroll accounting - Make the journal entry to record the February payroll, Record the journal entry for the employer's payroll taxes and Make the journal entry to record the employer's monthly payment of payroll ta..

  Compute sales level required in both dollars

Compute the sales level required in both dollars and units to earn $210,000 of after-tax income in 2010 with the machine installed and no change in unit sales price. Assume that the income tax rate is 30%.

  Across organizations operating in different countries

The adoption of a single set of financial accounting standards is important for multinational companies because: A single set of reporting standards should result in consolidated financial statements that are more comparable across organizations oper..

  Determine jasons basis in the land in the inventory

Determine Jason's basis in the land, in the inventory, and in the partnership interest instantly following the distribution.

  What is the gain from leverage

What is the value of the unlevered firm, VU?- What is the value of the levered firm, VL? What is the gain from leverage?

  Periodic inventory by three methods

There are 8 units of the item in the physical inventory at December 31. The periodic inventory system is used. Round average unit cost to one decimal and final answers to the nearest whole dollar, if required. Determine the inventory cost by the firs..

  Differences between equity and debt financing

Provide a summary to the partners, outlining the advantages and disadvantages of forming the business as a partnership and the advantages and disadvantages of forming as a corporation.

  What factors arise in considering if a minority investor

Joe Brock owns 10,000 of the 60,000 outstanding shares of Big Corporation; Leslie Ross own 20,000 shares; Mark Jones and his twin brother Sam each own 5,000 shares; and about 300 other shareholders own the remaining 20,000 shares—with no one other sh..

  Discuss how legitimacy is managed through reporting

Discuss how legitimacy is managed through reporting by the two companies (in Item 3 above) from the perspectives of Stakeholder Theory and Legitimacy Theory.

  Evaluate the profitability using the ratios

Critically evaluate short term liquidity using the ratios - Critically evaluate the profitability using the ratios

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