Can I get some help with the chapter 12 comprehensive review problem. I am stuck preparing the general journals. Its the CH 12 comprehensive problem for College Accounting, A career aproach 13e.

e Accounting Cycle for a Merchandising Business; Using Special Journals OURNALS Sales Journal, page 56 Purchases Journal, page 62 Cash Receipts Journal, page 69 Cash Payments Journal, page 75 General Journal, pages 89-95 ACCOUNTS RECEIVABLE Fashion Decor Hotel Beritz Jason and Waldon ACCOUNTS PAYABLE Brandon, Inc. Kingston Fabrics Magnuson Textiles Tyson Manufacturing Company TRANSACTIONS The following transactions were completed during February of this year. Feb. 1 Reversed the adjusting entry for accrued salaries, $620. 1 Sold merchandise on account to Hotel Beritz, $12,520.86, invoice no. 5221 2 Issued Ck. No. 7216, $16,593.46, to Kingston Fabrics, in payment of its invoice no. D1739 for $16,932.10 less 2 percent discount. 5 Bought merchandise on account from Magnuson Textiles, $4,874.80, invoice no. RE275, dated February 2; terms 1/10, n/30; FOB Louisville; freight prepaid and added to the invoice, $158 (total, $5,032.80). 5 Received an electric bill and paid Countywide Power, Ck. No. 7217, $358. 6 Received check from Jason and Waldon, $10,780.51, in payment of account. 7 Issued Ck. No. 7218, $9,684.18, to Magnuson Textiles, in payment of its invoice no. RE64 for $9,782 less 1 percent discount. Cash sales for February 1 through February 9, $9,745.40. Recorded the payroll in the payroll register for regular biweekly salaries for period ended February 12. Salaries: R. W. Harris, $2,840; T. L. Newkirk, $2,374. Income tax withholdings are $287 for Harris and $216 for Newkirk. Assume the following tax rates and taxable earnings limits (see the payroll register in your Working Papers for beginning cumulative earnings): 9 12 Social Security taxable earnings, $106,800, with a rate of 4.2 percent for employees and 6.2 percent for employers. . Medicare taxable earnings, all earnings, with a rate of 1.45 percent (for both employees and employers) Recorded the payroll entry, crediting Salaries Payable. Issued Ck. No. 7219, $2,392.54, to R. W. Harris. Issued Ck. No. 7220, $2,023.87, to T.L. Newkirk. Use two lines and debit Salaries Payable. (Verify these amounts.) Recorded payroll taxes. Assume the following tax rates and taxable earnings: . Federal unemployment taxable earnings, $7,000, with a rate of 0.8 percent. . State unemployment taxable earnings, $7,000, with a rate of 5.4 percent. 12 12 12 eived a credit memo from Magnuson Textiles for defective merchandise, $692, credit memo no. 916 12 Rec CIAL STATEMENTS, CLOSING ENTRIES, AND REVERSING ENTRIES No. 7221, $2,900.80, to Mid-State Bank for monthl ued Ck. No. 7221, $2,900.8 employees federal income tax withheld, $1,285, and FICA taxes. erchandise on account to lason and Waldon, $15,781.30, invoice no No. 7222, $4,298.97, to Magnuson Textiles, in payment of its $1,615.80 y deposit oft 14 Sold 5222 14 275 less the credit memo for defective merchandise and less the discount ($41.83) 18 unt trom Brandon, Inc.,$21,375.20, invoice no. Miami; freight prepaid and Issued Ck. No. 7223 payable to Quicker Printing for invoice forms, $336 (not 164M, dated February 14, terms 2/10, n/30, FOB M added to the invoice, S1,242 (total, $22,617.20). aash sales for February 10 through February 18, $7,889.24. 18 previously recorded) ceived check from Fashion Decor, $4,830.65, in payment of account ued Ck. No. 7224, $12,540, to lyson Manufacturing Company, in payment of its invoice no. 9264D 2Sold merchandise on account to Fashion Decor, $17,435.32, invoice no. 5223 4 Issued credit memo no. 214 to Fashion Decor, $185, for merchandise returned. Bought merchandise on account from Kingston Fabrics, $16,536.90, invoice no. D1797, dated February 22; terms 2/10, n/30; FOB Dallas Recorded the payroll in the payroll register for regular biweekly salaries for period ended February 26. Salaries: R. W. Harris, $2,840; T. L. Newkirk, $2,374. Income tax withholdings are $287 for Harris and $216 for Newkirk. Note: See the entry of February 12 for taxable earnings limits and tax rates. See the payroll register this payroll's beginning cumulative earnings Recorded the payroll entry, crediting Salaries Payabl Issued Ck. No. 7225, $2,392.54, to R. W. Harris. Issued Ck. No. 7226, $2,023.87, to T. L. Newkirk. Use two lines and debit Salaries Payable. 26 26 26 26 Ck. No. 7227 voided. 26 Recorded payroll taxes. Assume the following tax rates and taxable earnings: . Federal unemployment taxable earnings, $7,000, with a rate of 0.8 percent. State unemployment taxable earnings, $7,000, with a rate of 0.8 percent. Issued Ck. No.7228, $1,035, to JIT Freight Line for transportation charge on merchandise purchased from Kingston Fabrics Issued Ck. No. 7229, $155.60, payable to Cash to reimburse the petty cash tund. Petty cash payments consist of Supplies, $130.24, and Miscellaneous Expense, $25.36 27 8 Cash sales for February 19 through February 28, $8.986.60. 2 Issued Ck.No. 7230, $2,290, to Global Rental Agency for monthly rent. $5,000 for personal use, Ck. No. 7231 M. L. Langdon (owner) withdrew Required nd post the transactions completed during February using either a (Continued) al or special journals or both. (Your instructor will assign you which one(s) to use.) e Accounting Cycle for a Merchandising Business; Using Special Journals OURNALS Sales Journal, page 56 Purchases Journal, page 62 Cash Receipts Journal, page 69 Cash Payments Journal, page 75 General Journal, pages 89-95 ACCOUNTS RECEIVABLE Fashion Decor Hotel Beritz Jason and Waldon ACCOUNTS PAYABLE Brandon, Inc. Kingston Fabrics Magnuson Textiles Tyson Manufacturing Company TRANSACTIONS The following transactions were completed during February of this year. Feb. 1 Reversed the adjusting entry for accrued salaries, $620. 1 Sold merchandise on account to Hotel Beritz, $12,520.86, invoice no. 5221 2 Issued Ck. No. 7216, $16,593.46, to Kingston Fabrics, in payment of its invoice no. D1739 for $16,932.10 less 2 percent discount. 5 Bought merchandise on account from Magnuson Textiles, $4,874.80, invoice no. RE275, dated February 2; terms 1/10, n/30; FOB Louisville; freight prepaid and added to the invoice, $158 (total, $5,032.80). 5 Received an electric bill and paid Countywide Power, Ck. No. 7217, $358. 6 Received check from Jason and Waldon, $10,780.51, in payment of account. 7 Issued Ck. No. 7218, $9,684.18, to Magnuson Textiles, in payment of its invoice no. RE64 for $9,782 less 1 percent discount. Cash sales for February 1 through February 9, $9,745.40. Recorded the payroll in the payroll register for regular biweekly salaries for period ended February 12. Salaries: R. W. Harris, $2,840; T. L. Newkirk, $2,374. Income tax withholdings are $287 for Harris and $216 for Newkirk. Assume the following tax rates and taxable earnings limits (see the payroll register in your Working Papers for beginning cumulative earnings): 9 12 Social Security taxable earnings, $106,800, with a rate of 4.2 percent for employees and 6.2 percent for employers. . Medicare taxable earnings, all earnings, with a rate of 1.45 percent (for both employees and employers) Recorded the payroll entry, crediting Salaries Payable. Issued Ck. No. 7219, $2,392.54, to R. W. Harris. Issued Ck. No. 7220, $2,023.87, to T.L. Newkirk. Use two lines and debit Salaries Payable. (Verify these amounts.) Recorded payroll taxes. Assume the following tax rates and taxable earnings: . Federal unemployment taxable earnings, $7,000, with a rate of 0.8 percent. . State unemployment taxable earnings, $7,000, with a rate of 5.4 percent. 12 12 12 eived a credit memo from Magnuson Textiles for defective merchandise, $692, credit memo no. 916 12 Rec CIAL STATEMENTS, CLOSING ENTRIES, AND REVERSING ENTRIES No. 7221, $2,900.80, to Mid-State Bank for monthl ued Ck. No. 7221, $2,900.8 employees federal income tax withheld, $1,285, and FICA taxes. erchandise on account to lason and Waldon, $15,781.30, invoice no No. 7222, $4,298.97, to Magnuson Textiles, in payment of its $1,615.80 y deposit oft 14 Sold 5222 14 275 less the credit memo for defective merchandise and less the discount ($41.83) 18 unt trom Brandon, Inc.,$21,375.20, invoice no. Miami; freight prepaid and Issued Ck. No. 7223 payable to Quicker Printing for invoice forms, $336 (not 164M, dated February 14, terms 2/10, n/30, FOB M added to the invoice, S1,242 (total, $22,617.20). aash sales for February 10 through February 18, $7,889.24. 18 previously recorded) ceived check from Fashion Decor, $4,830.65, in payment of account ued Ck. No. 7224, $12,540, to lyson Manufacturing Company, in payment of its invoice no. 9264D 2Sold merchandise on account to Fashion Decor, $17,435.32, invoice no. 5223 4 Issued credit memo no. 214 to Fashion Decor, $185, for merchandise returned. Bought merchandise on account from Kingston Fabrics, $16,536.90, invoice no. D1797, dated February 22; terms 2/10, n/30; FOB Dallas Recorded the payroll in the payroll register for regular biweekly salaries for period ended February 26. Salaries: R. W. Harris, $2,840; T. L. Newkirk, $2,374. Income tax withholdings are $287 for Harris and $216 for Newkirk. Note: See the entry of February 12 for taxable earnings limits and tax rates. See the payroll register this payroll's beginning cumulative earnings Recorded the payroll entry, crediting Salaries Payabl Issued Ck. No. 7225, $2,392.54, to R. W. Harris. Issued Ck. No. 7226, $2,023.87, to T. L. Newkirk. Use two lines and debit Salaries Payable. 26 26 26 26 Ck. No. 7227 voided. 26 Recorded payroll taxes. Assume the following tax rates and taxable earnings: . Federal unemployment taxable earnings, $7,000, with a rate of 0.8 percent. State unemployment taxable earnings, $7,000, with a rate of 0.8 percent. Issued Ck. No.7228, $1,035, to JIT Freight Line for transportation charge on merchandise purchased from Kingston Fabrics Issued Ck. No. 7229, $155.60, payable to Cash to reimburse the petty cash tund. Petty cash payments consist of Supplies, $130.24, and Miscellaneous Expense, $25.36 27 8 Cash sales for February 19 through February 28, $8.986.60. 2 Issued Ck.No. 7230, $2,290, to Global Rental Agency for monthly rent. $5,000 for personal use, Ck. No. 7231 M. L. Langdon (owner) withdrew Required nd post the transactions completed during February using either a (Continued) al or special journals or both. (Your instructor will assign you which one(s) to use.)