Annie is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit customers and suppliers for the year ended 30 June 20X6: $ 130,000 60,000 686,400 302,800 2,960 2,000 181,000 84,000 Trade receivables, 1 July 20X5 Trade payables, 1 July 20X5 Cash received from customers Cash paid to suppliers Discounts received Contra between payables and receivables ledgers Trade receivables, 30 June 20X6 Trade payables, 30 June 20X6 What figure should appear for purchases in Annie's statement of profit or loss for the year ended 30 June 20X6?

On May 15, Baxtor, Inc. sold $26,000 of merchandise to James, on account. Baxtor could not collect cash from James and wrote off the account. What is the journal entry to record the write-off, assuming Baxtor uses the allowance method? Bad Debt Expense $26,000 Miscellaneous Bank Fees $26,000 Allowance for Bad Debts $26,000 Accounts Receivable - James Allowance for Bad Debts $26,000 Utility Expense $26,000 $26.000 Bad Debt Revenue $26,000 Allowance for Bad Faith Unpaid Accounts $26,000

Bev is completing the monthly bank reconciliation for her checking account for the month of October.   The following facts apply: The balance per the bank on Oct 31st = $3,000 The balance per her checkbook on Oct 31st = $6,000 Deposits in Transit = $2,000 Outstanding Checks = $500 EFT’s ‘into’ her account = $4,000 EFT’s ‘out of’ her account = $5,500 No interest was earned on the account, and there were no bank fees during the month.

Mar. 17 Received $810 from Shawn McNeely and wrote off the remainder owed of $4,820 as uncollectible. July 29 Reinstated the account of Shawn McNeely and received $4,820 cash in full payment.   Journalize the above transactions, using the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles

David had the following activity with his checking account during the month of July: Starting checkbook balance of $701.13   July 15 electronic payroll deposit of $1,807.44   Online payment of $109.17 to Ameren Utilities   Online payment of $104.00 to Gas Company   Checks written on July 15 totaling $984.15   On July 27, he received an electronic payroll deposit of $1,807.43 What was David's checkbook balance as of July 31?

Using the allowance method of accounting for uncollectible receivables. Transactions: April 1 Sold merchandise on account to Jim Dobbs, $8,500. The cost of the merchandise is $3,400. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment.   Required:   Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest dollar amount.     Chart of Accounts     CHART OF ACCOUNTS   General Ledger   ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Alan Albertson 122 Accounts Receivable-Jim Dobbs 123 Accounts Receivable-John Groves 124 Accounts Receivable-Jan Lehn 125 Accounts Receivable-Jacob Marley 126 Accounts Receivable-Mr.Potts 127 Accounts Receivable-Chad Thomas 128 Accounts Receivable-Andrew Warren 129 Allowance for…

Question: Gideon method Company uses the allowance of accounting uncollectable accounts. for On May 3, the Gideon Company wrote the $2,000 off account Hopkins. of uncollectable its customer, A. On July 10, Gideon received a check for the full amount of of $2,000 from Hopkins. On July 10, what what are the entry or entries Gideon makes to record the recovery of the bad debt?

Ayayai Corp. uses the allowance method for estimating uncollectible accounts. Prepare journal entries to record the following transactions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) January 5   Sold merchandise to Sue Land for $2,100, terms n/15. April 15   Received $430 from Sue Land on account. August 21   Wrote off as uncollectible the balance of the Sue Land account when she declared bankruptcy. October 5   Unexpectedly received a check for $690 from Sue Land.   Date Account Titles and Explanation Debit Credit Choose a transaction date                                                           January 5April 15August 21October 5 Enter an account title to record sales on account Enter a debit amount Enter a credit amount   Enter an account title to record sales on account Enter a debit amount Enter a credit amount…

Rick Hall owns a card shop, Hall's Cards. The following cash information is available for the month of August, Year 3. As of August 31, the bank statement shows a balance of $13,995. The August 31 unadjusted balance in the Cash account of Hall's Cards is $9,933. A review of the bank statement revealed the following information: A deposit of $1,700 on August 31, Year 3, does not appear on the August bank statement. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $3,970 but was recorded on the books as $4,870. When checks written during the month were compared with those paid by the bank, three checks amounting to $4, 935 were found to be outstanding. A debit memo for $73 was included in the bank statement for the purchase of a new supply of checks. Required Prepare a bank reconciliation at the end of August showing the true cash balance. (Negative amounts should be indicated with minus sign.) HALL'S CARDS Bank Reconciliation August…

Subject: acounting