FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Req D onlyarrow_forward8- A merchandise dealer bought an amount of (5,000) dinars in cash. 9- A merchandise dealer bought an amount of (5000) dinars on an account. 10- A merchandise dealer bought for (9000) dinars and paid half the price in cash and the rest at the expense of. 11- The dealer paid the transportation expenses of purchases an amount of 1500 dinars in cash. 12-A merchandise dealer sold for (1000) dinars in cash. 13- A merchant sold a merchandise to Walid for a sum of (1000) dinars, received 500 cash and the rest on the account. 14- A dealer paid an amount of 2,500 dinars in cash advertising. 15-A merchant bought a merchandise for 50,000 and paid for it with a check. 16- A furniture dealer bought an amount of (75,000) dinars by check. 17-A merchant paid an amount (100,000) of rent for a store by check. 18- A merchant drew $ 50,000 for personal use by check. 19- Merchant Nabil opened a current account in the bank and deposited 15,000 dinars into it cash Money. 20- Merchant Nabil sold goods for…arrow_forwardPrime entries.arrow_forward
- March 1 Invested cash P 950,000 into the business to buy and sell various merchandise. She also invested computer equipment worth P 85,000 into the business. 3 Purchased on account merchandise, P 430,000 terms 5/10, n/30 FOB Shipping point. 4 Purchased Supplies P 5,000 on account. 5 Sold for cash P 350,000 6 Returned P 75,000 worth of defective merchandise. 10 Sold on account, P 350,000 to customers with credit terms: 2/10, n/40 FOB Destination 10 Paid the freight charges on transaction made on MAr. 3, P 4,500 11 Paid in full the purchases made on Mar. 3 12 Made additional purchases for cash P 350,000 14 Borrowed from the bank P 1,250,000 and issued a 5-year promissory note. 15 Purchased computer equipment for cash P95,000 15 Paid salaries to employees - P 10,500 16 Refund P 50,000 to customers. 17 Sold merchandise for P 450,000. FOB Destination 20 Paid the freight charges on Mar 10 and 17- P 7,500 25 Purchased merchandise on account, P 220,000 terms 2/20, n/30 FOB Shipping…arrow_forwardES-1A. Cash Discount Calculations On June 1, Meadow Company sold merchandise with a list price of $40,000. For each of the sales terms below, determine the proper amount of cash received: 1. 2. 3. 4. Credit Terms Date Paid 2/10, n/30.... June 8 1/10, n/30.... June 15 1/15, n/30... June 14 n/30.... June 28arrow_forwardWebb Inc. sells $25,000 of merchandise to Jones and Sons on account, the terms were 2/10, n30. The cost of the merchandise is $12,500 Write the entry Webb would make to record this transaction. Sales $24,99arrow_forward
- Post to the general ledgerarrow_forwardNonearrow_forwardBES-2 Prepare the journal entries to record the following transactions on Rowen Company's books: (a) On March 2, Hunt Company sold $900,000 of merchandise to Rowen Company, terms n/30. The cost of the merchandise sold was $600,000. (b) On March 6, Rowen Company returned $130,000 of the merchandise purchased on March 2 The cost of the returned merchandise was $90,000. The merchandise was returned to inven- tory for future resale. (c) On March 31, Hunt Company received the balance due from Rowen Company.arrow_forward
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