During the month of October 20 , The Pink Petal flower shop engaged in the following transactions Oct 1 Sold merchandise on account to Elizabeth Shoemaker, $1,000, plus tax of $50 Sale No 222 2 Issued Check No 190 to Jill Hand in payment of October 1 balance of $500, less 2 discount 2 Purchased merchandise on account from Flower Wholesalers, $4,000 Invoice No 500, dated October 2, terms 2 10, n 30 4 Purchased merchandise on account from Seidl Enterprises, $700 Invoice No 527, dated October 4, terms 2 15, n 30 5 Issued Check No 191 in payment of phone expense for the month of September, $150 7 Sold merchandise for cash, $3,500, plus tax of $175 9 Received payment from Leigh Summers in full settlement of account, $2,000 11 Issued Check No 192 to Flower Wholesalers in payment of October 1 balance of $1,500 12 Sold merchandise on account to Leigh Summers, $2,000, plus tax of $100 Sale No 223 12 Received payment from Meg Johnson on account, $3,100 13 Issued Check No 193 to Seidl Enterprises in payment of October 4 purchase Invoice No 527, less 2 discount 14 Meg Johnson returned merchandise for a credit, $300, plus sales tax of $15 17 Returned merchandise to Vases Etc for credit, $900 24 Received payment from Davids Decorating on account, $2,135 27 Sold merchandise on account to Davids Decorating, $3,000, plus tax of $150 Sale No 224 29 Issued Check No 194 in payment of wages (Wages Expense) for the four week period ending October 30, $900 Selected account balances as of October 1 were as follows Account Account No Debit Credit Cash 101 $18,225 Accounts Receivable 122 9,619 Accounts Payable 202 $5,120 The Pink Petal also had the following subsidiary ledger balances as of October 1 Accounts Receivable Customer Accounts Receivable Balance Davids Decorating 12 Jude Lane Hartford, CT 06117 $3,340 Elizabeth Shoemaker 52 Juniper Road Hartford, CT 06118 279 Meg Johnson 700 Hobbes Dr Avon, CT 06108 4,000 Leigh Summers 5200 Hamilton Ave Hartford, CT 06111 2,000 Accounts Payable Supplier Accounts Payable Balance Vases Etc 34 Harry Ave East Hartford, CT 05234 $3,120 Jill Hand 1009 Drake Rd Farmington, CT 06082 500 Flower Wholesalers 43 Lucky Lane Bristol, CT 06007 1,500 Seidl Enterprises 888 Anders Street Newington, CT 06789 How does grading work GENERAL LEDGER Score 1 233 Account Cash Account No 101 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT Oct 1 Balance 18,225 00 2 3 Account Accounts Receivable Account No 122 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT 1 Oct 1 Balance 9,619 00 2 3 4 Account Accounts Payable Account No 202 Account Accounts Payable Account No 202 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT 1 Oct 1 Balance 5,120 00 2 3 4 Account Sales Tax Payable Account No 231 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT 1 2 3 Account Sales Account No 401 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT 1 2 Account Sales Returns and Allowances Account No 401 1 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT 1 Account Purchases Account No 501 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT 1 Account Purchases Returns and Allowances Account No 501 1 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT 1 Account Purchases Discounts Account No 501 2 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT 1 Account Wages Expense Account No 511 DATE BALANCE ITEM POST REF DEBIT CREDIT REDIT DEBIT CREDIT 1 Account Phone Expense Account No 525 BALANCE DATE ITEM POST REF DEBIT CREDIT DEBIT CREDIT 1 Account David's Decorating Account No 122 1 DATE ITEM POST REF DEBIT CREDIT BALANCE 1 Oct 1 Balance 3,340 00 2 3 Account Meg Johnson Account No 122 2 DATE ITEM POST REF DEBIT CREDIT BALANCE 1 Oct 1 Balance 4,000 00 2 3 Account Elizabeth Shoemaker Account No 122 3 DATE ITEM POST REF DEBIT CREDIT BALANCE 1 Oct 1 Balance 279 00 2 Account Leigh Summers Account No 122 4 DATE ITEM POST REF DEBIT CREDIT BALANCE 1 Oct 1 Balance 2,000 00 2 3 Account David's Decorating Account No 122 1 DATE ITEM POST REF DEBIT CREDIT BALANCE 1 Oct 1 Balance 3,340 00 2 3 Account Meg Johnson Account No 122 2 DATE ITEM POST REF DEBIT CREDIT BALANCE 1 Oct 1 Balance 4,000 00 2 3 Account Elizabeth Shoemaker Account No 122 3 DATE ITEM POST REF DEBIT CREDIT BALANCE 1 Oct 1 Balance 279 00 2 Account Leigh Summers Account No 122 4 DATE ITEM POST REF DEBIT CREDIT BALANCE 1 Oct 1 Balance 2,000 00 2 3

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 15, 2024

During the month of October 20--, The Pink Petal flower shop engaged in the following transactions: Oct. 1 Sold merchandise on account to Elizabeth Shoemaker,

During the month of October 20--, The Pink Petal flower shop engaged in the following transactions:

Oct. 1	Sold merchandise on account to Elizabeth Shoemaker, $1,000, plus tax of $50. Sale No. 222.
2	Issued Check No. 190 to Jill Hand in payment of October 1 balance of $500, less 2% discount.
2	Purchased merchandise on account from Flower Wholesalers, $4,000. Invoice No. 500, dated October 2, terms 2/10, n/30.
4	Purchased merchandise on account from Seidl Enterprises, $700. Invoice No. 527, dated October 4, terms 2/15, n/30.
5	Issued Check No. 191 in payment of phone expense for the month of September, $150.
7	Sold merchandise for cash, $3,500, plus tax of $175.
9	Received payment from Leigh Summers in full settlement of account, $2,000.
11	Issued Check No. 192 to Flower Wholesalers in payment of October 1 balance of $1,500.
12	Sold merchandise on account to Leigh Summers, $2,000, plus tax of $100. Sale No. 223.
12	Received payment from Meg Johnson on account, $3,100.
13	Issued Check No. 193 to Seidl Enterprises in payment of October 4 purchase. Invoice No. 527, less 2% discount.
14	Meg Johnson returned merchandise for a credit, $300, plus sales tax of $15.
17	Returned merchandise to Vases Etc. for credit, $900.
24	Received payment from Davids Decorating on account, $2,135.
27	Sold merchandise on account to Davids Decorating, $3,000, plus tax of $150. Sale No. 224.
29	Issued Check No. 194 in payment of wages (Wages Expense) for the four-week period ending October 30, $900.

Selected account balances as of October 1 were as follows:

Account	Account No.	Debit	Credit
Cash	101	$18,225
Accounts Receivable	122	9,619
Accounts Payable	202		$5,120

The Pink Petal also had the following subsidiary ledger balances as of October 1:

Accounts Receivable:

Customer	Accounts Receivable Balance
Davids Decorating 12 Jude Lane Hartford, CT 06117	$3,340
Elizabeth Shoemaker 52 Juniper Road Hartford, CT 06118	279
Meg Johnson 700 Hobbes Dr. Avon, CT 06108	4,000
Leigh Summers 5200 Hamilton Ave. Hartford, CT 06111	2,000

Accounts Payable:

Supplier	Accounts Payable Balance
Vases Etc. 34 Harry Ave. East Hartford, CT 05234	$3,120
Jill Hand 1009 Drake Rd. Farmington, CT 06082	500
Flower Wholesalers 43 Lucky Lane Bristol, CT 06007	1,500
Seidl Enterprises 888 Anders Street Newington, CT 06789

image text in transcribed

How does grading work? GENERAL LEDGER Score: 1/233 Account: Cash Account No. 101 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Oct. 1 Balance 18,225.00 2 3 Account: Accounts Receivable Account No. 122 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 Oct. 1 Balance 9,619.00 2 3 4 Account: Accounts Payable Account No. 202 Account: Accounts Payable Account No. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 Oct. 1 Balance 5,120.00 2 3 4 Account: Sales Tax Payable Account No. 231 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 2 3 Account: Sales Account No. 401 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 2 Account: Sales Returns and Allowances Account No. 401.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 Account: Purchases Account No. 501 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 Account: Purchases Returns and Allowances Account No. 501.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 Account: Purchases Discounts Account No. 501.2 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 Account: Wages Expense Account No. 511 DATE BALANCE ITEM POST. REF. DEBIT CREDIT REDIT DEBIT CREDIT 1 Account: Phone Expense Account No. 525 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 Account: David's Decorating Account No. 122.1 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Oct. 1 Balance 3,340.00 2 3 Account: Meg Johnson Account No. 122.2 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Oct. 1 Balance 4,000.00 2 3 Account: Elizabeth Shoemaker Account No. 122.3 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Oct. 1 Balance 279.00 2 Account: Leigh Summers Account No. 122.4 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Oct. 1 Balance 2,000.00 2 3 Account: David's Decorating Account No. 122.1 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Oct. 1 Balance 3,340.00 2 3 Account: Meg Johnson Account No. 122.2 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Oct. 1 Balance 4,000.00 2 3 Account: Elizabeth Shoemaker Account No. 122.3 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Oct. 1 Balance 279.00 2 Account: Leigh Summers Account No. 122.4 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 1 Oct. 1 Balance 2,000.00 2 3