![]() Patrick Carson dishonored NR4, a 30-day, 10% note, maturity value due today: principal, $ 150.00 interest, $ 1.25 total, $151.25. Paid cash for office equipment, $2,650.00. Paid-in Capital from Sale of Treasury Stock Paid-in Capital in Excess of Stated Value. Received a subscription from Delmar Adams for 30 shares of $ 100.00 par-value preferred stock, $3,000.00. R126.ĭiscarded a store fixture: original cost, $ 1,050.00 total accumulated depreciation through December 31 of last year, $840.00 additional depreciation to be recorded through December 1 of the current year, $210.00. Received cash for three months' rent in advance from Woodcrest, Inc., $2,400.00. Wrote off Susan Vine's past-due account as uncollectible, $427.50. Common stock issued is $ 11,780.00 of $ 10.00 stated-value common stock. Preferred stock issued is $40,400.00 of 10%, $ 100.00 par-value preferred stock. Whitehurst's board of directors declared an annual dividend of $ 15,820.00. Source documents are abbreviated as follows: check, C memorandum, M note payable, NP note receivable, NR receipt, R. Other prepaid and unearned items are recorded initially as assets and liabilities. Whitehurst records prepaid interest expense initially as an expense and rent received in advance as revenue. Use page 23 of a cash receipts journal, page 23 of a cash payments journal, and page 12 of a general journal. Journalize the following transactions completed during December of the current year.The journals used by Whitehurst are similar to those illustrated in Parts 2 through 4. Whitehurst uses the chart of accounts shown on page 403. In Part A of this reinforcement activity, selected transactions for Whitehurst, Inc., completed during December of the current year, are journalized. Whitehurst's fiscal year is from January 1 through December 31. Whitehurst sells plumbing and related products to building contractors, homeowners, and other Consumers. ![]() C632.The accounting activities are for Whitehurst, Inc., a merchandising business organized as a Corporation. Paid cash for dividend declared December 15. The board of directors declared a dividend of $3.00 per share capital stock issues is 7,000 shares. Source documents are abgreviated as follows: check, C memorandum, M.ĭec. Use page 12 of a genreal journal and page 14 of a cash payments journal. Journalize the following trnasactions during December of the current year and January of the next year.Journalizing the declaration and payment of dividends Learned that a sale on account to City Food Bank was incorrectly charged to the account of Bettsworth Hosptial, $489.00. Granted credit to Paulson Cafe for merchandise returned, $158.50, plus sales tax, $9.51from S758 total, $168.01. Found that a sale on account to Learning Playhouse was incorrectly charged to the account RPL corporation, $846.00. Granted credit to City Food Bank for damaged merchandise, $245.00 (no salesĨ. Post each general journal entry to the accounts receivable subledgers and general ledgers.Source documents are abbreviated as follows: credit memorandum, CM sales invoice, S. Using the current year, journalize the following transactions on page 7 of a general journal.Complete Homework #2 (green packet) - due at the BEGINNING of the hour tomorrow!Īccounting for sales returns and allowances using a general journal.
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