College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Textbook Question
Chapter 12, Problem 6SPB
SALES JOURNAL T. M. Maxwell owns a retail business and made the following sales during the month of July 20--. There is a 5% sales tax on all sales.
July 1 Sale No. 101 to Saga, Inc., $1,200, plus sales tax.
8 Sale No. 102 to Vinnie Ward, $2,100, plus sales tax.
15 Sale No. 103 to Dvorak Manufacturing, $4,300, plus sales tax.
21 Sale No. 104 to Vinnie Ward, $1,800, plus sales tax.
24 Sale No. 105 to Zapata Co., $1,600, plus sales tax. (Open a new account for this customer. Address is 789 N. Stafford Dr., Bloomington, IN 47401–6201.)
29 Sale No. 106 to Saga, Inc., $1,450, plus sales tax.
Required
- 1. Record the transactions in the sales journal. Total and verify the column totals and rule the columns.
- 2. Post the sales journal to the general ledger and
accounts receivable ledger accounts. Use account numbers as shown in the chapter.
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SALES AND CASH RECEIPTS TRANSACTIONS Paul Jackson owns a retail business. The following sales, returns, and cash receipts are for April 20--. There is a 7% sales tax.Apr. 1 Sale on account No. 111 to O. L. Meyers, $2,100 plus sales tax.3 Sale on account No. 112 to Andrew Plaa, $1,000 plus sales tax.6 O. L. Meyers returned merchandise from Sale No. 111 for a credit(Credit Memo No. 42), $50 plus sales tax.7 Cash sales for the week were $3,240 plus sales tax.9 Received payment from O. L. Meyers for Sale No. 111 less CreditMemo No. 42.12 Sale on account No. 113 to Melissa Richfield, $980 plus sales tax.14 Cash sales for the week were $2,180 plus sales tax.17 Melissa Richfield returned merchandise from Sale No. 113 for a credit(Credit Memo No. 43), $40 plus sales tax.19 Sale on account No. 114 to Kelsay Munkres, $1,020 plus sales tax.21 Cash sales for the week were $2,600 plus sales tax.24 Sale on account No. 115 to O. L. Meyers, $920 plus sales tax.27 Sale on account No. 116 to Andrew…
Sales and Cash Receipts Transactions
Sourk Distributors is a retail business. The following sales, returns, and cash receipts occurred during March 20--. There is an 8% sales tax.
Mar. 1 Sale on account No. 33C to Donachie & Co., $1,700 plus sales tax.
3 Sale on account No. 33D to R. J. Kibubu, Inc., $2,190 plus sales tax.
5 Donachie & Co. returned merchandise from Sale No. 33C for a credit (Credit Memo No. 66), $40 plus sales tax.
7 Cash sales for the week were $3,140 plus sales tax.
10 Received payment from Donachie & Co. for Sale No. 33C less Credit Memo No. 66.
11 Sale on account No. 33E to Eck Bakery, $1,230 plus sales tax.
13 Received payment from R. J. Kibubu for Sale No. 33D.
14 Cash sales for the week were $4,100 plus sales tax.
16 Eck Bakery returned merchandise from Sale No. 33E for a credit (Credit Memo No. 67), $34 plus sales tax.
18 Sale on account No. 33F to R. J. Kibubu, Inc., $2,580 plus sales tax.
20 Received payment from Eck Bakery for Sale No. 33E less Credit Memo…
Sales Transactions
J. K. Bijan owns a retail business and made the following sales on account during the
month of August 20--. There is a 6% sales tax on all sales.
Aug. 1 Sale No. 213 to Jung Manufacturing Co., $1,310 plus sales tax.
3 Sale No. 214 to Hassad Co., $3,740 plus sales tax.
* Sale No. 215 to Helsinki, Inc., $1,250 plus sales tax. (Open a new account for this
customer. Address is 125 Fishers Dr., Noblesville, IN 47870-8867.)
11 Sale No. 216 to Ardis Myler, $1,150 plus sales tax.
18 Sale No. 217 to Hassad Co., $4,150 plus sales tax.
22 Sale No. 218 to Jung Manufacturing Co., $1,980 plus sales tax.
30 Sale No. 219 to Ardis Myler, $1,560 plus sales tax.
Required:
1. Record the transactions starting on page 15 of a general journal. Enter the posting
references when you complete part 2.
GENERAL JOURNAL
PAGE 15
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
20--
Aug. 1
Sale No. 213
Aug. 3
Sale No. 214
Aug. 7
Sale No. 215
Aug. 11
Chapter 12 Solutions
College Accounting, Chapters 1-27
Ch. 12 - LO1 The types of special journals a business uses...Ch. 12 - Prob. 2TFCh. 12 - Prob. 3TFCh. 12 - Prob. 4TFCh. 12 - LO4 Purchases returns and allowances are recorded...Ch. 12 - The first step in posting the sales journal to the...Ch. 12 - LO3 In the cash receipts journal, each amount in...Ch. 12 - The journal that should be used to record the...Ch. 12 - A purchases journal usually is used to record all...Ch. 12 - In the cash payments journal, each amount in the...
Ch. 12 - Prob. 1CECh. 12 - LO3 Enter the following transactions in a cash...Ch. 12 - LO4 Enter the following transaction in a purchases...Ch. 12 - Enter the following transactions in a cash...Ch. 12 - Prob. 1RQCh. 12 - List four items of information about each sale...Ch. 12 - Prob. 3RQCh. 12 - Prob. 4RQCh. 12 - Prob. 5RQCh. 12 - Prob. 6RQCh. 12 - Prob. 7RQCh. 12 - Prob. 8RQCh. 12 - Prob. 9RQCh. 12 - Prob. 10RQCh. 12 - Prob. 11RQCh. 12 - What steps are followed in posting from the cash...Ch. 12 - What steps are followed in posting from the cash...Ch. 12 - RECORDING TRANSACTIONS IN THE PROPER JOURNAL...Ch. 12 - Prob. 2SEACh. 12 - JOURNALIZING CASH RECEIPTS Enter the following...Ch. 12 - JOURNALIZING PURCHASES TRANSACTIONS Enter the...Ch. 12 - Prob. 5SEACh. 12 - SALES JOURNAL Futi Ishanyan owns a retail business...Ch. 12 - Prob. 7SPACh. 12 - Prob. 8SPACh. 12 - PURCHASES JOURNAL J. B. Speck, owner of Specks...Ch. 12 - PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS...Ch. 12 - Prob. 11SPACh. 12 - PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND...Ch. 12 - RECORDING TRANSACTIONS IN THE PROPER JOURNAL...Ch. 12 - Prob. 2SEBCh. 12 - Prob. 3SEBCh. 12 - JOURNALIZING PURCHASES TRANSACTIONS Enter the...Ch. 12 - JOURNALIZING CASH PAYMENTS Sandcastles Northwest...Ch. 12 - SALES JOURNAL T. M. Maxwell owns a retail business...Ch. 12 - Prob. 7SPBCh. 12 - SALES JOURNAL, CASH RECEIPTS JOURNAL, AND GENERAL...Ch. 12 - PURCHASES JOURNAL Ann Benton, owner of Bentons...Ch. 12 - PURCHASES JOURNAL, GENERAL LEDGER, AND ACCOUNTS...Ch. 12 - Prob. 11SPBCh. 12 - PURCHASES JOURNAL, CASH PAYMENTS JOURNAL, AND...Ch. 12 - Prob. 1MYWCh. 12 - Judy Baresford, the store manager of Comfort...Ch. 12 - During the month of October 20--, The Pink Petal...Ch. 12 - Screpcap Co. had the following transactions during...
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