ACTIVITY 1PROBLEM SOLVINGDirections: Read and analyze the problem. Journalize and post the following transactions of themerchandising business. After posting to the general and subsidiary ledgers, prepare the trial balance.The transactions of Karen Carpenter for December 2018 were the following:December !Began business with the following investments:P1 50,00040,000C'ashMerchandiseFurniture50.000Paid rent for December. P5,000. Check No. 1001Purchased a delivery truck from Dimasalang Motor Co. for cash, P30,000. Check No. 1002Sold merchandise for cash to R. Castro, P2,500.Purchased merchandise for cash from Henry and Sons, P5,700. Check No. 1003Sold merchandise on account to R. Castro, P50,000. Terms: 2/10, n/30. Invoice No. 2001Paid general expenses, P7,200. Check No. 1004Purchased merchandise on account from Danilo Liwanag, P75,000. Terms: 2/10, n/30.Ms. Carpenie withdrew casih for personal use. P5,000. Check No. 1005Sold on account to Rey Aloña, P5,000 Terms: n/10. Invoice No. 2002Purchased merchandise on account from C'esar Santos, P30,000. Terms: n/60.Received ful! payment in cash from R. Castro for his account on December 10.- Sold merchandise on account to Divina del Agua, P24,000. Terms: 2/10, n/30. Invoice No.10121415171920232003Paid in full the account due to Danilo Liwanag on the 14th Check No. 1006Returned merchandise worth P3,000 to Cesar Santos. Received a credit memo for the2426return.27 - Received a 30-day non-interest bearing note from Rey Aloña in settlement of his accounton the 17thUtility expense bills paid, PI,200 Check No. 1007Received merchandise retumed by Divina del Agua, P2,000.282930Wages paid. P5,000. Check No. 1008Required:1) Record the transactions using the special journals and general journal. Use the following chart ofaccounts:CODEACCOUNTCODEACCOUNT101C'ash451Sales DiscountAccounts Receivable452Sales Returns and Allowances112Notes Receivable510Purchases113Merchandise551Purchase Discount162Furniture and Fixtures552Purchase Returns and AllowancesDelivery TruckAccounts PayableCarpenter, CapitalCarpenter, DrawingWages ExpenseUtilities ExpenseRent ExpenseGeneral Expenses165520201521301524340525410Sales2) Post to the general and subsidiary ledgers.3) Prepare a trial balance.

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Description: ACTIVITY 1PROBLEM SOLVINGDirections: Read and analyze the problem. Journalize and post the following transactions of themerchandising business. After posting to the general and subsidiary ledgers, prepare the trial balance.The transactions of Karen

1) General Journal Entry Karen Carpenter Journal Entry Date Particulars Ref Debit ($) Credit…

Business

Accounting

ACTIVITY 1 PROBLEM SOLVING Directions: Read and analyze the problem. Journalize and post the following transactions of the merchandising business. After posting to the general and subsidiary ledgers, prepare the trial balance. The transactions of Karen Carpenter for December 2018 were the following: Began business with the following investments: December ! Cash P150,000 Merchandise 40,000 Furniture 50,000 - Paid rent for December. P5.000. Check No. 1001

ACTIVITY 1 PROBLEM SOLVING Directions: Read and analyze the problem. Journalize and post the following transactions of the merchandising business. After posting to the general and subsidiary ledgers, prepare the trial balance. The transactions of Karen Carpenter for December 2018 were the following: Began business with the following investments: December ! Cash P150,000 Merchandise 40,000 Furniture 50,000 - Paid rent for December. P5.000. Check No. 1001

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter11: Accounting For Transactions Using A General Journal

Section: Chapter Questions

Problem 2MP

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Prepered by: Puen S Mor Junite Mohd Radel 5. Record the following transactions for the month of November 2020 in the general joumal and post to the appropriate ledger account and balance all the accounts the prepare the trial balance as November 202o. Nov 1 Started business with RM6,000 in the bank 2 Bought goods on credit from Ab Bhd RM 390 and XY Trading RM710 5 Cash sales RM240 7 Paid rent by cheque RM30 9 Paid sundry expenses by cheque RM200 11 Sold goods on credit to Mina RM80 and Chee RM1,150 16 Paid wages by cash RM45 18 Returned goods to AB Bhd RM20 and XY Trading RM35 19 Goods returned by Mina RM10 and Chee RM50 21 Bought motor van on credit from Tan Ching Motor RM8,000 24 Paid AB Bhd RM250 and XY Trading RM400 by cheque 27 Received a loan of RM500 cash from Aman 29 Received a cheque from Mina RM70 and Chee RM600 30 The owner deposited a further RM1,000 into a business bank account e m曲

Your activity: Posting to the ledgerThe following journal entries were found in the books of Lagumang Pagsusulit Photocopying Services in the month of January 2019: January 20191 Cash on Hand Php 30,000.00Machines 450,000.00Building 500,000.00Granfon, Capital Php 980,000.00 3 Permits and Licenses 7,500.00Cash on Hand 7,500.00 4 Cash on hand 5,500.00Service Revenue 5,500.005 Cash on Hand 4,650.00Accounts Receivable 2,300.00Service Revenue 6,950.00 6 Prepaid Insurance 12,000.00Cash on hand 12,000.009 Supplies 10,000.00Accounts Payable 10,000.00 13 Cash on Hand 15,500.00Service Revenue 15,500.0015 Accounts Receivable 8,000.00Service Revenue 8,000.0016 Salaries Expense 3,000.00Cash on Hand 3,000.00 19 Repairs and Maintenance 1,000.00Cash on Hand 1,000.0022 Cash on Hand 7,000.00Service Revenue 7,000.0024 Supplies Expense 3,000.00Supplies 3,000.00 27 Cash on Hand 6,500.00Service Revenue 6,500.0030 Granfon, Drawing 5,000.00Cash on Hand 5,000.00
Comprehensive Problem – Journalizing, Posting. Trial Balance Ulysses Dela Cruz established an enterprise he registered with the DTI under the name: The Storm Decorators, on May 1, 2020. During the month he completed the following transactions: 01 - Mr. Ulysses Dela Cruz transferred cash from a personal bank account to an account to be used for the business, P31,000. 02 - Purchased supplies for cash, P750. 02 - Paid P1,230 worth of local government taxes and business permits. 02 - Purchased tools on account from Tonyo General Merchandise, P4,600. 03 - Purchased a second-hand van from Bagyo Used Cars Inc. for P48,000, paying P8,00 cash and giving a note payable in 3 months for the remainder. 05 - Paid rent of the office space for the month, P2,250. 06 – Received cash for a job completed, P8,600. 08 – Purchased supplies on account from Tonyo General Merchandise, P2,450. 10 - Paid premiums on property insurance, P2,440. 12 - Paid in full creditor for the tools purchased on May 2. 14 - Paid…
Create at least 3 transactions in one month for each specialized journalsi. Sales Journalii. Purchase journaliii. Return inwards journaliv. Return outward journalsv. Cash receipts journalsvi. Cash payment journalvii. General journal
Your activity: Posting to the ledger The following journal entries were found in the books of Lagumang Pagsusulit Photocopying Services in the month of January 2019: January 2019 Cash on Hand Php 30,000.00 Machines 450,000.00 Building Granfon, Capital 500,000.00 Php 980,000.00 3 Permits and Licenses 7,500.00 Cash on Hand 7,500.00 4 Cash on hand 5,500.00 Service Revenue 5,500.00 5 Cash on Hand 4,650.00 2,300.00 Accounts Receivable Service Revenue 6,950.00 6 12,000.00 Prepaid Insurance Cash on hand 12,000.00 9 Supplies 10,000.00 Accounts Payable 10,000.00 13 Cash on Hand 15,500.00 Service Revenue 15,500.00 15 Accounts Receivable 8,000.00 Service Revenue 8,000.00 Salaries Expense Cash on Hand 16 3,000.00 3,000.00
Q1. Given below is a list of transactions relating to the stationery business of Aryan & Co. for the year ending March 31, 2020. You are required to journalize the transactions, create the ledger accounts and prepare the trial balance. Date Particulars Amount 1t Apr, 19 Capital contributed by Aryan 1,00,000 3rd Apr,19 Purchases from Kabir & Co. 200 pens of Rs. 80 each 100 copies of Rs. 40 each 5th Apr, 19 Purchased Furniture 30,000 7ih Apr, 19 Deposited in Bank 50,000 10h Apr, 19 Paid Salaries 15,000 15 Apr, 19 Cash purchases made 20,000 |20 Apr, 19 Sold goods to Mr. Rohit & Co. 500 pens of Rs. 125 each; 250 copies of Rs 110 each 22nd Apr, 19 Returned to Kabir & Co. 20 pens 15 copies 30 Apr, 19 Issued a cheque to Kabir & Co. in full settlement of their ассount 5th May, 19 Received cash Rs 5,000 and cheque for Rs 10,000 from Rohit & Co. The cheque was deposited in bank immediately. 25 May, 19 Sold to Gaurav & Co., 80 pens at Rs 130 each less 10% trade discount 31t May, 19 Gaurav & Co.,…
M MISLANG MANAGEMENT CONSULTANCY SERVICES Your Sut s Is My ExiNta " Journalize: July 9, 2019: Made sales of 17,000 (12,000 cash sales, 5,000 credit sales). a. Provide entry under Perpetual b. Provide entry under Periodic July 30, 2019: The cost of the sales made on July 9, 2019 amounted to 8,500. a. Provide entry under Perpetual b. Provide entry undr Doriodio meetgoogie.com ang rour acreen. Stap shering
Directions: Record the transactions of Jinky Estrada for December 2018 in the general journal. Post each transaction to their corresponding ledger accounts. Use the following account code for posting reference. Write your answers on a separate sheet of paper. Account Titles Cash Accounts Receivable Office Furniture Office Equipment Accounts Payable Estrada, Capital Consulting Revenues Salaries Expense Rent Expense 101 301 102 401 103 501 104 502 201 Jinky Estrada is an experienced event planner. Her transactions for December 2018 are: Dec. 1 Jinky invested P100,000 in cash to start her own business. She paid 5,000 for one month's rent. 4 She bought office furniture for P15,000 in cash. 4 She received a laptop computer worth P54,000. She paid 50% down for it with a balance due in 30 days. 6 She performed services for P12,000 in cash. 7 She did services for P11,000 on credit. She acquired a fax machine for P8,500; paid P4,000 in cash, balance due in 10 days. 11 She received P5,400 from…
Adriana Graphic Design receives $2,250 from a client billed in a previous month for services provided. Which of the following general journal entries will Adriana Graphic Design make to record this transaction? Multiple Choice Cash 2,250 Accounts Receivable 2,250 Cash 2,250 Unearned Design Revenue 2,250 Accounts Receivable 2,250 Unearned Design Revenue 2,250 Prev 3 of 10 Next > nere to search W P 99% 9:34 PM 2/21/2022
Cashaun Wo x CCU brightspace.wiltech.edu/d2l/le/7659/discussions/topics/2429/View Subscribe New Wave Images is a graphics design firm that prepares its financial statements using a calendar year. Manny Kinn, the company treasurer and vice president of finance, has prepared a classified balance sheet as of December 31. In January, this balance sheet will be submitted along with an application for a loan from First Peoples Community Bank. An excerpt from the balance sheet follows: Cash $ 25,000 Accounts Receivable 85,000 Total Assets $ 250,000 The accounts receivable balance includes a $56,000 loan to Tom Morrow, the company president. Tom borrowed the money from New Wave 18 months earlier for a down payment on a new home. Tom has orally assured Manny that he will pay off the loan within the next year. Because Tom is the company president, Manny treats the amount due as a trade account receivable. In addition, Manny knows that the bank will consider a large balance in trade accounts…
.ComDino takeASSignmenu takeASsigmentMain.do?invoker=assignments&takeAssignmentSessionLocator%=Dassignment-take&inpro. Q < Show oie riow Entries for Receipt and Dishonor of Notes Receivable Journalize the following transactions in the accounts of Safari Games Co., which operates a riverboat casino. Assume 30O days in a year. For a compound transaction, I an amount box does not require an entry, leave it blank. Apr. 18. Received a $60,000, 30-day, 7% note dated April 18 from Glenn Cross on account. 30. Received a $42,000, 60-day, 8% note dated April 30 from Rhoni Melville on account. May 18 The note dated April 18 from Glenn Cross is dishonored, and the customer's account is charged for the note, including interest. June 29. The note dated April 30 from Rhoni Melville is'dishonored, and the customer's 'account is charged for the note, including interest. Aug. 16. Cash is received for the amount due on the dishonored note dated April 18 plus Interest for 90 days at 8% on the total amount…
A moodle.jamessprunt.edu/mod/quiz/attempt.php?attempt3D473287&cmid%3D605671&page%3D10 CC JSCC Homepage - Tech Support Student Toolbox JSCC Bookstore English (United States) (en_us) - For each account below, indicate the normal balance of the account. Notes Payable (due in 5 years) =21 Choose. tion Advertising Expense Choose., Cash Choose. J. Smith, Capital Choose. Accumulated Depreciation Choose. J. Smith, Drawing Choose. Rent Revenue Choose. Land Choose. Sales Choose. Mortgage Payable Choose. Interest Expense Choose. Merchandise Inventory Choose. Depreciation Expense - Office Building Choose. Accounts Payable Choose. Depreciation Expense - Store Choose. Customer Refunds Payable Choose. Freight Out Choose. Accounts Receivable Choose. Office Supplies Expense Choose. Unearned Rent Choose. : Prepaid Insurance Choose.. Type here to search hp 立