Record the transactions starting of a general journal

Assignment Help Accounting Basics
Reference no: EM132182760

Question - M. Maxwell owns a retail business and made the following sales on account during the month of July 20--. There is a 5% sales tax on all sales.

July1

Sale No. 101 to Saga, Inc., $1,200 plus sales tax.8

Sale No. 102 to Vinnie Ward, $2,100 plus sales tax.15

Sale No. 103 to Dvorak Manufacturing, $4,300 plus sales tax.21

Sale No. 104 to Vinnie Ward, $1,800 plus sales tax.24

Sale No. 105 to Zapata Co., $1,600 plus sales tax.29

Sale No. 106 to Saga, Inc., $1,450 plus sales tax.

Required:

1. Record the transactions starting on page 15 of a general journal.

2. Post from the journal to the general ledger and accounts receivable ledger accounts.

Reference no: EM132182760

Questions Cloud

Calculate the reorder point : The $8 carrying cost per jersey per year consists of the required return on investment of $5.00, Calculate the reorder point
Add the linux firewall rules to enforce the protection : You have a web server running on port 8888 in a Linux computer, but without any firewall rules in place for protection.
Good for a a long research paper : What are some ethical issue topics, in business, good for a a long research paper?
Presidential primary and a caucus : What is meant by the term "coattail effect"? What is the difference between a presidential primary and a caucus?
Record the transactions starting of a general journal : M. Maxwell owns a retail business and made sales on account during the month of July 20--. Record transactions starting on page 15 of a general journal
Watch the show one evening and note the amounts : In other words, assume each contestant will spin the wheel on an average of 3 times before either hitting Bankrupt, Loose a Turn or not guessing a letter.
Parliamentary versus presidential political systems : What are the key advantages and disadvantages of the parliamentary versus presidential political systems?
Calculate the total time required to download the webpage : The sizes of the objects are 25,000 Bytes, 40,000 Bytes, 60,000 Bytes and 75,000 Bytes respectively. The bandwidth is 10 Mbps.
Where do media queries typical reside : How many media query sizes can a web site's CSS file declare? Where do media queries typical reside?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the activity-based overhead rates

Compute the activity-based overhead rates using the following budgeted data for each of the activity cost pools. Activity-based overhead rates Designing $ per designer hour Sizing and cutting.

  Johnson corporation''s unadjusted trial balance at year-end

Johnson Corporation's Unadjusted Trial Balance at year-end

  Income tax purposes as personal use property

Tina owns a condominium in Santa Barbara. During the current year, she incurs the following expenses related to the property:

  Discuss percentage and the breakeven level of sales

Ignoring utility costs altogether, compute the contribution margin per unit, in dollars and in percentage and the breakeven level of sales

  Calculate the current cost of capital of secure and safe

Calculate the current cost of capital of Secure and Safe on a weighted average basis. Discuss how your approached this calculation

  The shareholders equity of kramer industries includes the

the shareholders equity of kramer industries includes the data shown below. during 2014 cash dividends of 150 million

  What amount of bad debts expense will be recorded

If bad debts are estimated at 4% of net sales, under the allowance method, what amount of bad debts expense will be recorded on December 31

  Calculate the variable overhead efficiency variance

The Koski Company has established standards as follows: Calculate the following: The materials price variance and The variable overhead efficiency variance

  How much warranty expense is reported

On October 29, 2010, Lue Co. began operations by purchasing razors for resale. Lue uses the perpetual inventory method. The razors have a 90-day warranty.

  Find the weighted average shares outstanding for the year

Concord Corporation had 807000 shares of common stock outstanding on January 1, The weighted average shares outstanding for the year is

  Show the effect of each event on the elements

Show the effect of each event on the elements of the financial statements using a horizontal statements model like the following one.

  Prepare the journal entries to record this transaction

At the end of 2014, Carpenter Co. has accounts receivable of $770,380 - Prepare the journal entries to record this transaction

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