Journalize the transactions in a general journal

Assignment Help Accounting Basics
Reference no: EM13510605

Sandy Johnson owns a small variety store. The following transactions took place during March of the current year. Journalize the transactions in a general journal using the perpetual inventory method.

Mar. 3 Purchased merchandise on account from City Galleria, $2,700.
7 Paid freight charge on merchandise purchased, $175.
13 Sold merchandise on account to Amber Specialties, $3,000. The cost of the merchandise was $1,800.
18 Received a credit memo from City Galleria for merchandise returned, $500.
22 Issued a credit memo to Amber Specialties for merchandise returned, $400. The cost of the merchandise was $240.

Reference no: EM13510605

Questions Cloud

Prepare a cost of goods sold section for the year : The trial balance of G. Durler Company at the end of its fiscal year, August 31, 2010, includes these accounts: Merchandise Inventory $17,200; Purchases $149,000.
Calculate budgeted profit before tax : Discuss, with reasons, the apparent contradiction between the budgeted breakeven sales and production volumes and the preliminary profit achieved in the 2003 financial year and Calculate the budgeted profit before tax for the 2004 financial year. I..
Obtain the thickness of the oil slick : When a beam of white light is incident (vertically) on a thin oil slick (n = 1.25) floating on water, What is the thickness of the oil slick
What is the net force acting on the crate : starting from rest, a 4.0-kg crate of cell phones reaches a horizontal speed of 8.0 m/s in 2.0 s. What is the net force acting on the crate
Journalize the transactions in a general journal : Sandy Johnson owns a small variety store. The following transactions took place during March of the current year. Journalize the transactions in a general journal using the perpetual inventory method.
Effects of the media on young people : What did Harvard Medical School researchers conclude about the effects of the media on young people in Fiji, who until recently lacked widespread access to television?
Journalize the entries to record the transactions : The following selected transactions were completed by Bodyworks Co. during October of the current year. Journalize the entries to record the transactions of Bodyworks Co. for October.
What is the maximum amount the spring is compressed : A block with a mass of 0.148 kg is traveling at 8.4 m/s on a horizontal, frictionless surface when it hits a spring with a spring constant of 722 N/m. What is the maximum amount the spring is compressed
Calculate the electrostatic force on each charge : Two point charges q = +10C are a distance 0:12 m apart. Calculate the electrostatic force on each charge

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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