The Sikes Company uses a voucher system and records invoices at gross. Record the following transactions in
Question:
The Sikes Company uses a voucher system and records invoices at gross. Record the following transactions in the voucher register and/or check register as appropriate:
Transcribed Image Text:
201X Oct. 1 Voucher no. 500 was prepared for the purchase of $4,000 worth of merchan- dise inventory on account from Roland Company; terms 2/10, n/30. 2 Voucher no. 501was prepared for freight-in that was to be paid to Labaro Company, $290. 3 Office supplies were purchased on account from Macaskill Company for $490; terms 2/10, n/30; voucher no. 502 was prepared. 8 Check no. 630 was issued in payment of voucher no. 500. 10 Purchased office equipment on account from Herm Company for $10,900; payment is to be in two equal installments. Vouchers nos. 503 and 504 were prepared to cover these payments. 12 Check no. 631 was issued to pay voucher no. 503. 12 Check no. 632 was issued to pay voucher no. 501. 18 Purchased $6,200 of merchandise on account from Lou Corporation; terms 2/10, n/30; voucher no. 505 was prepared. 20 Purchased $2,900 of merchandise on account from Karl Company; terms 2/10, n/30; voucher no. 506 was prepared. 25 Check no. 633 was issued to pay voucher no. 505. 27 Returned $1,250 of merchandise bought from Karl Company; voucher no. 506 was canceled and voucher no. 507 was prepared. 29 Issued check no. 634 to pay voucher no. 507.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (6 reviews)
THE SIKES COMPANY CHECK REGISTER Date 201X Check No Payable to Voucher No Vouchers Payable ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
Question Posted:
Students also viewed these Business questions
-
The Stearns Company uses a voucher system and records invoices at gross. Record the following transactions in the voucher register and/or check register as appropriate: 201X Dec. 1 Voucher no. 400...
-
Sabin Corporation uses a voucher system and records invoices at gross. Record the following transactions in the voucher register and/or check register as appropriate: 201X July 5 Purchased...
-
The Stokes Company uses a voucher system and records invoices at gross. Record the following transactions in the voucher register and/or check register as appropriate: 201X Dec. 1 Voucher no. 300 was...
-
Find a and b if, y= ax+b has mean 6 and variance is unity, where x is a random variable with mean 8 and variance 16.
-
Using simple binomial trees, calculate the value of a call option with the following characteristics: Underlying asset current value = 1,000. Option exercise price = 1,250. Per-period dividends = 10%...
-
Describe the perception of any company of your choice and discuss how it impacts your decisions. Discuss a good brand positioning you like about any company and what makes you think so. Maximum 200...
-
Use the Peclet number [Eq. (16-111a)] to determine which model (completely mixed or plug flow) is appropriate for the distillation column calculation at \(\mathrm{x}_{\mathrm{W}}=0.48\) in Problems...
-
Nami Yee is a contractor specializing in custom-built jacuzzis. On May 1, 2012, her ledger contains the following data.Raw Materials Inventory ..... $30,000Work in Process Inventory ......
-
Diaz Company issued $117,000 face value of bonds on January 1, Year 1. The bonds had a 5 percent stated rate of interest and a ten-year term. Interest is paid in cash annually, beginning December 31,...
-
This diagram shows memory configuration under dynamic partitioning after several placements and swapping-out operations have been carried out. Addresses go from left to right; gray areas indicate...
-
Jace Corporation has been using a voucher system for several years and records invoices at gross. Prepare entries in the voucher register and check register for the following transactions: 201X Sept....
-
Fairwell Company uses a voucher system. Record the following transactions in the voucher register: 201X June 8 Purchased office equipment on account from Taffy Corporation, $700; voucher no. 300 was...
-
Receiving $100,000 per year for five years is equivalent to investing what amount today at 14 percent? Provide a mathematical formula to solve this problem, assuming use of a present value annuity...
-
which code of conduct principle would you act on from the professional codes of conduct guiding ethical behavior in accounting
-
What Is The Difference Between A Balance Sheet Of A Nonprofit Organization And A For-profit Business? What Does A Balance Sheet Tell Us? How Does Revenue Affect The Balance Sheet? What Is An...
-
MTM World INC. 2019: Total Revenue = $333,329 Total Expenses = $275,791 Net income of $57,538 2020: Total Revenue = $4,257 Total Expenses = $92,394 Net income of $(88,137) 1- Up to $250,000 Loan...
-
Why do some financial analysts treat preferred stock as a special type of bond rather than as an equity security?
-
Define behavioral finance and how the psychology and neuroscience behind it has evolved over the past decade.
-
How does modeling help to better understand complex and dynamic systems?
-
Show that if A is any m n matrix, then Im A = A and AIn = A.
-
Using a chart of accounts similar to that for Problem 11A-2, record the following transactions for Sandy Williams, Dentist, in the synoptic journal and then prove the journal. (Beginning balances are...
-
Using a chart of accounts similar to that for Problem 11A-3, journalize the following transactions for Dave Wong, Optometrist, of Sarnia, and prove the synoptic journal. Fill in the Post. Ref. column...
-
Freda Schragge opened an appliance repair shop in Duncan that also sold accessories. The chart of accounts for her shop is shown on page 540. Here are the transactions for the month of October:...
-
TWO-(I4 marks) Generation Meats is a butcher shop owned and operated by Clara Pietr On 1 May 2015 she presented the following information : Cash balance brought forward $ 475 Bank balance brought...
-
Lester's Gym wants to expand its facilities by obtaining $62,000 worth of new exercise equipment. The equipment will have a 4-year life, belongs in a 25% CCA class, and will have no residual value....
-
Garcia Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for the cost of one unit: Standard Quantity X Standard...
Study smarter with the SolutionInn App