The following purchase transactions occurred during May for Amy's Catering Service: May 11. Purchased party supplies for
Question:
The following purchase transactions occurred during May for Amy's Catering Service:
May 11. Purchased party supplies for $420, on account from Party Zone Supplies Inc.
19. Purchased party supplies for $290, on account from Party Time Supplies Inc.
21. Purchased office furniture for $2,160, on account from Office Space Inc.
Record these transactions in the following purchases journalformat:
PURCHASES JOURNAL Accounts Payable Cr. Other Supplies Party Post. Accounts Post. Ref. Date Account Credited Amount Dr. Ref. Dr.
Step by Step Answer:
Purchases Journal Date 11 May 19 May 21 May ...View the full answer
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Related Video
Accounts payable are money owed by a business to its suppliers shown as a liability on a company\'s balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents
Students also viewed these Accounting questions
-
The following purchase transactions occurred during May for Joan's Catering Service: Oct. 11. Purchased party supplies for $445, on account from Celebration Supplies Inc. 19. Purchased party supplies...
-
The following purchase transactions occurred during February for Crystal Catering Service: Feb. 11. Purchased party supplies for $440, on account from Celebration Supplies Inc. 14. Purchased party...
-
The following purchase transactions occurred during October for Rehoboth Inc.:Oct. 4. Purchased office supplies for $105, on account from Office-to-Go Inc.16. Purchased office equipment for $2,460,...
-
write a note on Moll Cutpurse Life?
-
You are a member of MySpace.com. A fellow member has made statements about your character which you believe to be defamatory. You wish to sue that individual as well as "MySpace" in your state of...
-
Young and Yang ( 2011) examined managers stock repurchase decisions, under which firms buy back outstanding shares on the market, for a sample of U. K. companies during 1998 2006. As the authors...
-
The disadvantage of a brute force algorithm is that it does not always give the ideal solution. a. True b. False
-
Edna Millay Inc. is a manufacturer of electronic components and accessories with total assets of $20,000,000. Selected financial ratios for Millay and the industry averages for firms of similar size...
-
Find a polar equation for the curve represented by the given Cartesian equation: a) 4x + 4y = 2 Write the answer in the form r = f(t ) where t stands for 0. 2 Polar equation: r = 4 ( cost + sin t) b)...
-
A typical structure within colleges is instructor, assistant professor, associate professor, full professor. Is this egalitarian or hierarchical? What added information would you need to decide? What...
-
The debits and credits from two transactions are presented in the following customer account:NAME Airwave Communications Inc.ADDRESS 76 Oak Ridge Rd. Describe each transaction and the source of...
-
The debits and credits from two transactions are presented in the following supplier's (creditor's) account: NAME Carnation Inc. ADDRESS 5000 Grand Ave. Describe each transaction and the source of...
-
Consider the stereo store of Exercise 24 in Section 4.2. A fourth brand of stereo system has appeared on the market. Brand D takes up 3 cubic feet of storage space and generates a sales commission of...
-
A horizontal steam engine running at \(250 \mathrm{rpm}\) has a bore of \(210 \mathrm{~mm}\) and a stroke of \(350 \mathrm{~mm}\). The piston rod is \(20 \mathrm{~mm}\) in diameter and connecting rod...
-
Until recently, Wells Fargo was the world's largest bank. Its victory was short-lived, however, when J.P. Morgan overtook Wells Fargo in 2016. The loss of its place as the world's biggest bank came...
-
What are the causes for interference in gears?
-
Explain the effect of gyroscopic couple on a naval ship.
-
What is backlash in gears?
-
Do auditors need high levels of expertise with information systems audit and control to be able to use concurrent auditing techniques successfully? Why or why not?
-
Choose two matrices A and B with dimension 2 x 2. Calculate det A, det B, and det (AB). Repeat this process until you are able to discover how these three determinants are related. Summarize your...
-
Use the following stock price data (in dollars) for Exercises 1318. Find the min-max normalized stock price for the stock worth $20. 10 7 20 12 75 15 9 18 4 12 8 14
-
From the following list, identify the accounts that should be closed to Income Summary at the end of the fiscal year under a perpetual inventory system: (a) Accounts Payable (b) Advertising Expense,...
-
Based on the data presented in Exercise 5-8, journalize the closing entries.
-
On August 31, 2012, the balances of the accounts appearing in the ledger of Wood Interiors Company, a furniture wholesaler, are as follows:Prepare the August 31, 2012, closing entries for Wood...
-
if the provision for bad debts decrease from 1 5 0 0 to 1 2 0 0 , then the profit in the statement of comprehensive income will increase by 3 0 0
-
1 . Brown Corp made $ 5 0 0 , 0 0 0 net sales in 2 0 2 0 . The cost of goods sold and total operating expenses incurred during the year was $ 3 5 0 , 0 0 0 . At the beginning of 2 0 2 0 , Brown had $...
-
Statement of cash flows indirect method The comparative balance sheet of Merrick Equipment Co . for December 3 1 , 2 0 Y 9 and 2 0 Y 8 , is as follows: Line Item Description December 3 1 , 2 0 Y 9...
Study smarter with the SolutionInn App