Financial Accounting: Tools for Business Decision Making, 8th Edition
8th Edition
ISBN: 9781118953808
Author: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Publisher: WILEY
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Chapter 5, Problem 5.2E
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.
| Sept. 6 | Purchased calculators from Dragoo Co. at a total cost of $1,650, terms n/30. |
| 9 | Paid freight of $50 on calculators purchased from Dragoo Co. |
| IO | Returned calculators to Dragoo Co. for $66 credit because they did not meet specifications. |
| 12 | Sold calculators costing $520 for $690 to Fryer Book Store, terms n/30. |
| 14 | Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $.34. |
| 20 | Sold calculators costing $570 for $760 to Heasley Card Shop, terms n/30. |
Instructions
Journalize the September transactions.
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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.
Sept. 6
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Purchased calculators from Sandhill Co. at a total cost of $1,680, terms n/30.
9
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Paid freight of $50 on calculators purchased from Sandhill Co.
10
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Returned calculators to Sandhill Co. for $51 credit because they did not meet specifications.
12
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Sold calculators costing $460Â for $640Â to Fryer Book Store, terms n/30.
14
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Granted credit of $40Â to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $29.
20
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Sold calculators costing $500Â for $720Â to Heasley Card Shop, terms n/30.
Journalize the September transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal…
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.
Sept. 6
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Purchased calculators from Wildhorse Co. at a total cost of $1,680, terms n/30.
9
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Paid freight of $60 on calculators purchased from Wildhorse Co.
10
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Returned calculators to Wildhorse Co. for $65 credit because they did not meet specifications.
12
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Sold calculators costing $520Â for $670Â to Fryer Book Store, terms n/30.
14
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Granted credit of $35Â to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $22.
20
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Sold calculators costing $540Â for $760Â to Heasley Card Shop, terms n/30.
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.
Sept. 6
Â
Purchased calculators from Sunland Co. at a total cost of $1,620, terms n/30.
9
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Paid freight of $50 on calculators purchased from Sunland Co.
10
Â
Returned calculators to Sunland Co. for $59 credit because they did not meet specifications.
12
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Sold calculators costing $470 for $720 to Fryer Book Store, terms n/30.
14
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Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $31.
20
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Sold calculators costing $530 for $770 to Heasley Card Shop, terms n/30.
Journalize the September transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in…
Chapter 5 Solutions
Financial Accounting: Tools for Business Decision Making, 8th Edition
Ch. 5 - Prob. 1QCh. 5 - Prob. 2QCh. 5 - Prob. 3QCh. 5 - Prob. 4QCh. 5 - Waymon Co. has net sales of 100,000, cost of goods...Ch. 5 - Masie Ascot believes revenues from credit sales...Ch. 5 - (a) What is the primary source document for...Ch. 5 - Prob. 8QCh. 5 - As the end of Smyle Companys fiscal year...Ch. 5 - To encourage bookstores to buy a broader range of...
Ch. 5 - Goods costing 1,900 are purchased on account on...Ch. 5 - Prob. 12QCh. 5 - Prob. 13QCh. 5 - Prob. 14QCh. 5 - Prob. 15QCh. 5 - Prob. 16QCh. 5 - Prob. 17QCh. 5 - What merchandising account(s) will appear in the...Ch. 5 - What types of businesses are most likely to use a...Ch. 5 - Prob. 20QCh. 5 - In the following cases, use a periodic inventory...Ch. 5 - Prob. 22QCh. 5 - What factors affect a companys gross profit...Ch. 5 - Prob. 24QCh. 5 - Prob. 25QCh. 5 - On July 15, a company purchases on account goods...Ch. 5 - Presented here are the components in Salas...Ch. 5 - Prob. 5.2BECh. 5 - Prob. 5.3BECh. 5 - Prob. 5.4BECh. 5 - Prob. 5.5BECh. 5 - Explain where each of these items would appear on...Ch. 5 - Prob. 5.7BECh. 5 - Prob. 5.8BECh. 5 - Prob. 5.9BECh. 5 - Prob. 5.10BECh. 5 - Prob. 5.11BECh. 5 - Prob. 5.12BECh. 5 - Prob. 5.13BECh. 5 - Prob. 5.14BECh. 5 - Prob. 5.1DIECh. 5 - Prob. 5.2DIECh. 5 - Prob. 5.3DIECh. 5 - Prob. 5.4DIECh. 5 - Prob. 5.5DIECh. 5 - Prob. 5.6DIECh. 5 - Prob. 5.1ECh. 5 - Assume that on September 1, Office Depot had an...Ch. 5 - Prob. 5.3ECh. 5 - Prob. 5.4ECh. 5 - Prob. 5.5ECh. 5 - Prob. 5.6ECh. 5 - Prob. 5.7ECh. 5 - Prob. 5.8ECh. 5 - Prob. 5.9ECh. 5 - Prob. 5.10ECh. 5 - Prob. 5.11ECh. 5 - Prob. 5.12ECh. 5 - Prob. 5.13ECh. 5 - Prob. 5.14ECh. 5 - Prob. 5.15ECh. 5 - Prob. 5.1APCh. 5 - Prob. 5.2APCh. 5 - Prob. 5.3APCh. 5 - Prob. 5.4APCh. 5 - Prob. 5.5APCh. 5 - Prob. 5.6APCh. 5 - Prob. 5.7APCh. 5 - Prob. 5.8APCh. 5 - Prob. 5.9APCh. 5 - Prob. 5.1CACRCh. 5 - Prob. 5.2CACRCh. 5 - Prob. 5.1EYCTCh. 5 - Prob. 5.2EYCTCh. 5 - Prob. 5.3EYCTCh. 5 - Prob. 5.4EYCTCh. 5 - Prob. 5.6EYCTCh. 5 - Prob. 5.7EYCTCh. 5 - Prob. 5.8EYCTCh. 5 - Prob. 5.9EYCTCh. 5 - Explain the difference between the...Ch. 5 - For each of the following income statement line...Ch. 5 - Prob. 5.3IFRSCh. 5 - Prob. 5.4IFRS
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