3) Maket he Journal Entries for January 2019 transactions. A) ARTEK Co.is a merchandising company selling OFFICESUPPLIES,Company's 01.01.2019 Balance Sheet Accounts are;Cash 45.000 TL, Account Payable 25.000 TL,Machinary 85.000TL, Bank Credit 65.000TL , Bank 90.000TL,Note Payable 60.000TL , Merchandise 130.000TL „AccountReceivable 75.000TL, Capital ?TL.B) In January 2019 ARTEK CO. Made The following businesstrancactions.1)Merchandise purchased for 135.000TL + %10 VAT and noteendorsed for purchase. 8.000TL + %10 VAT Freight in is paid bysigning (issuing) check.2) Merchandise sold for 160.000TL, on account + VAT %10.Customer issued a check. Cost of goods sold is 86.000TL3) 78.000 TL payment of Note transferred by the customerto the Bank, to close the open account.14) Order given to the BANK to transfer 85.00OTL to vendor.Bank transferred to the vendor's account.5) Machinary purchased for 280.000TL + 10% VAT and checkissued for machinary purchase. Adjustment andinstallation cost is 60.000 TL + VAT %10 is on account.6) Merchandise sold for 56.000 USD (Dollar)+ %10 VAT Andcollected note. Dollar : 6.50/TL. Cost of goods sold is168.000TL.7)55.000 TL paid to the vendor by issuing company check.8) 48.000 TL check endorsed for 24 month rent contract,starting 1st of May 2019.9) Customer ordered 80.000 TL + %10 VAT Office suply(merchandise) and transferred 30.000 TL to the Bank as anAdvance Payment.10.Customer's order is delivered. Balance is on account.Tranportation invoice is 4.000 TL+ % 10 VAT paid by signinga check.10) At the end of the month (USD) dolar rate is : 6,10 TL/USD.11) 68.000 TL Is paid by endorsing a note to vendor as anadvance for 168.000TL+%10 VAT merchandise order.12)Order Received from Vendor and Balance is paid byissuing note.

Journal entries refers to the systematic documentation of the financial transactions of the company…

A) ARTEK CO. is a merchandising company selling OFFICE SUPPLIES, Company's 01.01.2019 Balance Sheet Accounts are; Cash 45.000 TL, Account Payable 25.000 TL, Machinary 85.000TL, Bank Credit 65.000TL, Bank 90.000TL, Note Payable 60.000TL , Merchandise 130.000TL Account Receivable 75.000TL, Capital ?TL. B) in January 2019 ARTEK CO. Made The following business trancactions.

A) ARTEK CO. is a merchandising company selling OFFICE SUPPLIES, Company's 01.01.2019 Balance Sheet Accounts are; Cash 45.000 TL, Account Payable 25.000 TL, Machinary 85.000TL, Bank Credit 65.000TL, Bank 90.000TL, Note Payable 60.000TL , Merchandise 130.000TL Account Receivable 75.000TL, Capital ?TL. B) in January 2019 ARTEK CO. Made The following business trancactions.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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