college accounting with study

10A -2

Set A 10A-1. Robert Chase recently opened Robert's Skate Shop. As the bookkeeper of the company, use the periodic method to journalize, record, and post when appropriate the following transactions (account numbers are Store Supplies 115; Store Equipment 121; Accounts Payable 210; Purchases S10) 201X May 4 Bought $600 of merchandise on account from Wales Co., invoice no. 442 5 Bought $4,600 of store equipment on account from Kingston Co., invoice 8 Bought $1,700 of merchandise on account from Rolo Co., invoice no. 401, 14 Bought $1,000 of store supplies on account from Wales Co., invoice no dated May 5; terms 3/10, n/30 no. 502, dated May 6 dated May 9; terms 3/10, n/30. 419, dated May 14 As the accountant for Riley's Natural Food Store, ( 1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, be sure to put in the following balances: Aris Co., $350; Brown Co., $800; Moose Co., $1,350; Ready Co., $700; Accounts Payable, 53,200; Purchases, $19,000. Use the periodic method. 10A-2. 201x April Purchased $750 of merchandise on account from Aris Co., invoice no. 400 10 Purchased $1,350 of merchandise on account from Brown Co., invoice 12 Purchased $400 of store supplies on account from Moose Co., invoice 14 Issued debit memo no. 8 to Aris Co. for merchandise returned, $300, from 17 Purchased $640 of office equipment on account from Ready Co., invoice 24 Purchased $850 of additional store supplies on account from Moose Co.. dated April 9; terms 5/10, n/60. no. 420, dated April 11: terms 5/10, n/60. no. 510, dated April 13. invoice no. 400 no, 810, dated April 18 invoice no. 516, dated April 25: terms 5/10, n/30. Check- Total s $6.890