Description of this paper

Loading

Worksheet E5-2 E5-2 on Page 262 Assume that on September 1,-(Answered)

Description

Step-by-step Instant Solution


Question

Is there?any chance I can get help with this assignment??


Worksheet E5-2

 

E5-2 on Page 262

 

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.

 

Sept. 9 Paid freight of $50 on calculators purchased from Dragoo Co)

 

Sept. 10 Returned calculators to Dragoo Co. for $66 credit because they did not

 

meet specifications.

 

Sept. 12 Sold calculators costing $520 for $690 to Fryer Book Store, terms n/30.

 

Sept. 14 Granted credit of $45 to Fryer Book Store for the return of one

 

calculator that was not ordered. The calculator cost $34.

 

Sept. 20 Sold calculators costing $570 for $760 to Heasley Card Shop, terms

 

n/30.

 

Instructions: Journalize the September Transactions

 

Sept. 6 Purchased calculators from Dragoo Co. at a total cost of $1,650, terms

 

n/30. (Refer to entry on page 233)

 

Date

 

Sep 6

 


 

Accounts

 


 

Debit Amt.

 


 

Credit Amt.

 


 

Sept. 9 Paid freight of $50 on calculators purchased from Dragoo Co. (Refer to

 

page 234 ? Freight costs incurred by buyer ? see journal entry on this page)

 

Date

 

Sep 9

 


 

Accounts

 


 

Debit Amt.

 


 

Credit Amt.

 


 

Sept. 10 Returned calculators to Dragoo Co. for $66 credit because they did not

 

meet specifications. (Refer to entry on page 235 Purchases Returns and

 

Allowances

 

Date

 

Sep 10

 


 

Accounts

 


 

Debit Amt.

 


 

Credit Amt.

 


 

Sept. 12 Sold calculators costing $520 for $690 to Fryer Book Store, terms n/30.

 

(Refer to the two sets of entries on page 238, one is to record the sales revenue

 

and the other is to record the cost and inventory impact of the sale)

 

Date

 

Accounts

 

Debit Amt.

 

Credit Amt.

 

Sep 12

 


 

Sept. 14 Granted credit of $45 to Fryer Book Store for the return of one

 

calculator that was not ordered. The calculator cost $34. (Refer to page 239

 

Journal entries in the section titled ?Sales Returns and Allowances?)

 

Date

 

Accounts

 

Debit Amt.

 

Credit Amt.

 

Sep 12

 


 

Sept. 20 Sold calculators costing $570 for $760 to Heasley Card Shop, terms

 

n/30. (Refer to the two sets of entries on page 238, one is to record the sales

 

revenue and the other is to record the cost and inventory impact of the sale)

 

Date

 

Sep 12

 


 

Accounts

 


 

END OF WORKSHEET

 


 

Debit Amt.

 


 

Credit Amt.

 


 

 

Paper#9255822 | Written in 27-Jul-2016

Price : $16
SiteLock