The following selected transactions were completed by Capers Company during October of the current year: Oct. 1 Purchased merchandise from UK Imports Co., $13,322, terms FOB destination, n/30.   3 Purchased merchandise from Hoagie Co., $10,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $240 was added to the invoice.   4 Purchased merchandise from Taco Co., $13,700, terms FOB destination, 2/10, n/30.   6 Issued debit memo to Taco Co. for $4,850 of merchandise returned from purchase on October 4.   13 Paid Hoagie Co. for invoice of October 3.   14 Paid Taco Co. for invoice of October 4 less debit memo of October 6.   19 Purchased merchandise from Veggie Co., $29,840, terms FOB shipping point, n/eom.   19 Paid freight of $410 on October 19 purchase from Veggie Co.   20 Purchased merchandise from Caesar Salad Co., $22,200, terms FOB destination, 1/10, n/30.   30 Paid Caesar Salad Co. for invoice of October 20.   31 Paid UK Imports Co. for invoice of October 1.   31 Paid Veggie Co. for invoice of October 19.   Journalize the entries to record the transactions of Capers Company for October. Refer to the Chart of Accounts for exact wording of account titles.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following selected transactions were completed by Capers Company during October of the current year:
Oct. 1 Purchased merchandise from UK Imports Co., $13,322, terms FOB destination, n/30.
  3 Purchased merchandise from Hoagie Co., $10,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $240 was added to the invoice.
  4 Purchased merchandise from Taco Co., $13,700, terms FOB destination, 2/10, n/30.
  6 Issued debit memo to Taco Co. for $4,850 of merchandise returned from purchase on October 4.
  13 Paid Hoagie Co. for invoice of October 3.
  14 Paid Taco Co. for invoice of October 4 less debit memo of October 6.
  19 Purchased merchandise from Veggie Co., $29,840, terms FOB shipping point, n/eom.
  19 Paid freight of $410 on October 19 purchase from Veggie Co.
  20 Purchased merchandise from Caesar Salad Co., $22,200, terms FOB destination, 1/10, n/30.
  30 Paid Caesar Salad Co. for invoice of October 20.
  31 Paid UK Imports Co. for invoice of October 1.
  31 Paid Veggie Co. for invoice of October 19.
 
Journalize the entries to record the transactions of Capers Company for October. Refer to the Chart of Accounts for exact wording of account titles.
 
Chart of Accounts
 
 
CHART OF ACCOUNTS
Capers Company
General Ledger
  ASSETS
110 Cash
120 Accounts Receivable
125 Notes Receivable
130 Merchandise Inventory
131 Estimated Returns Inventory
140 Office Supplies
141 Store Supplies
142 Prepaid Insurance
180 Land
192 Store Equipment
193 Accumulated Depreciation-Store Equipment
194 Office Equipment
195 Accumulated Depreciation-Office Equipment
  LIABILITIES
211 Accounts Payable-Caesar Salad Co.
212 Accounts Payable-Hoagie Co.
213 Accounts Payable-Taco Co.
214 Accounts Payable-UK Imports Co.
215 Accounts Payable-Veggie Co.
216 Salaries Payable
218 Sales Tax Payable
219 Customers Refunds Payable
221 Notes Payable
  EQUITY
310 Owner, Capital
311 Owner, Drawing
312 Income Summary
  REVENUE
410 Sales
610 Interest Revenue
  EXPENSES
510 Cost of Merchandise Sold
521 Delivery Expense
522 Advertising Expense
524 Depreciation Expense-Store Equipment
525 Depreciation Expense-Office Equipment
526 Salaries Expense
531 Rent Expense
533 Insurance Expense
534 Store Supplies Expense
535 Office Supplies Expense
536 Credit Card Expense
539 Miscellaneous Expense
710 Interest Expense
 
 
Journal
 
 
Journalize the entries to record the transactions of Capers Company for October. Refer to the Chart of Accounts for exact wording of account titles.
PAGE 10
 
JOURNAL
ACCOUNTING EQUATION
 
  DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY
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