Saimdang Co. has the following business rules. 1. Customers place many orders during the period 2. Each sales order consists of one or more line items of inventory 3. Customers are billed twice a month for the purchases that they made during the period 4. Customers make payments once a month to settle their accounts Required: Prepare an entity-relationship diagram (must include entities and cardinalities) for each business rule

Using the following revenue journal for Bowman Cleaners Inc., identify each of the posting references, indicated by a letter, as representing (1) posting to general ledger accounts or (2) posting to subsidiary ledger accounts:

Using the following revenue journal for Zeta Services Inc., identify each of the posting references, indicated by a letter, as representing (1) posting to general ledger accounts or (2) posting to subsidiary ledger accounts:

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

8. Hampton Computers has the following transactions in August related to the sale of merchandise inventory. i (Click the icon to view the transactions.) Journalize the sales transactions for Hampton Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Assume the company records sales at the net amount.) Aug. 12: Sold computers on account for $11,900 to a customer, terms 1/15, n/ 60. The cost of the computers is $7,140. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts and Explanation Debit Credit Aug. 12 More Info August 12 Sold computers on account for $11,900 to a customer, terms 1/15, n/60. The cost of the computers is $7,140. 26 Received payment from the customer on balance due. Choose from any list or enter any number in the input…

Instructions: Give its Journal Entry   The company's Chart of accounts includes the following: Cash, Accounts Receivable, Merchandise Inventory, Supplies, Accounts payable; Wakang, capital; Sales; Sales Returns and Allowances; Sales Discounts; Purchases; Purchase returns and allowances; Purchase Discounts, Freight-In.

Lamplight Plus sells lamps to consumers. The company contracts with a supplier who provides them with lamp fixtures. There is an agreement that Lamplight Plus is not required to provide cash payment immediately and instead will provide payment within thirty days of the invoice date. You are to provide the journal entries for the following transactions assuming a perpetual inventory system. Cash Accounts Payable Purchases Accounts Receivable Merchandise Inventory Sales PLEASE NOTE: You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Lamplight purchases thirty light fixtures for $20 each on August 1, invoice date August 1, with no discount terms DR     CR       Lamplight returns ten light fixtures, receiving a credit amount for the full purchase price on August 3: DR     CR       Lamplight purchases an additional fifteen light fixtures for $15 each on August 19, invoice…

What is the operating cycle?

Akizuki started a new business called Fall Moon Ultimate. Fall Moon buys and sells premiumUltimate Frisbee clothes and gear. All purchases and sales are made on credit. Fall Moon usesthe perpetual inventory system and the 3-way match. Below is a partial list of events for the company. Analyze the three events below and for each state which accounts get debited, which accounts get credited, which special journal are they recorded in, and which subsidiary ledgers get updated from the transactions... 1.October 15, Shipped and billed (Sold) 500 Jerseys to Hanks Sports, Inc. for $7,500. Invoicenumber 200 was prepared. The discs cost Fall Moon $5,000.2.October 17, Received $2,000 from Dog Town Discs for goods that were shipped and invoicedthe prior month.3.October 20, Received an invoice for $3,000 from Three Dogs for inventory and performed the3-way match. The inventory was ordered on September 20 and received on October 20.Account    Account     Special    SubsidiaryDebited  Credited…

Ayayai Company has the following account balances: Sales Revenue $245,600, Sales Discounts $3,610, Cost of Goods Sold $103,600, and Inventory $41,800. Prepare the entries to record the closing of these items to Income Summary under the perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To close accounts with credit balances) (To close accounts with debit balances) Debit Credit