Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

got some of these right need help on the ones I got wrong Owner's Capital $4,400. The following transactions were completed during April 2022. Apr.

got some of these right need help on the ones I got wrong
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Owner's Capital \$4,400. The following transactions were completed during April 2022. Apr. 5 Purchased golf discs, bags, and other inventory on account from Mumford C0,$1,000, FOB shipping point, terms 2/10. n/60. 7 Paid freight on the Mumford purchase $40. 9 Received credit from Mumford Co. for merchandise returned $100. 10 Sold merchandise on account for $900, terms n/30. The merchandise sold had a cost of $540. 12 Purchased disc golf shirts and other accessories on account from Saucer Sportswear $590, terms 1/10,n/30. 14 Paid Mumford Co. in full, less discount. 17 Received credit from Saucer Sportswear for merchandise returned $90. 20 Madesales on account for $620, terms n/30. The cost of the merchandise sold was $400. 21 Paid Saucer Sportswear in full, less discount. 27 Granted an allowance to customers for clothing that did not fit $40. 30 Received payments on account from customers $940. The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 301 Owner's Capital, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the onder of joumal entries presented in the previous part.) Question 9 of 9 6.19/10 \begin{tabular}{|c|c|c|c|c|c|} \hline Apr. 27 & & 31 & & 20 & 1490 \\ \hline \multirow[t]{2}{*}{ Apr. 30} & & J1 & & 900 & 590 \\ \hline & & & Inventory & & No. 120 \\ \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline Apr: 1 V & Balance & & & & 2500 \\ \hline Apr. 5 & & 31 & 1200 & & 3700 \\ \hline Apr. 7 & & 31 & 50 & & 3750 \\ \hline Apr. 9 & & 31 & & 100 & 3650 \\ \hline Apr. 10 & & 31 & & 540 & 3110 \\ \hline Apr. 12 & & 31 & 670 & & 3780 \\ \hline Apr. 14 & & 31 & & 22 & 3758 \\ \hlineApr,17 & & 31 & & 70 & 3688 \\ \hline \end{tabular} Question 9 of 9 Previoua question Apr. 20 J1 Apr. 21 J1 Question 9 of 9 6.19/10 Apr, 1 Balance 4300 Prepare a trial balance on April 30, 2022. (Do not list those accounts that have zero ending balance.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Theory

Authors: Craig Deegan, H. Bierman

4th Edition

0071013148, 978-0071013147

More Books

Students also viewed these Accounting questions

Question

For any events A and B in a sample space, we have (A B) = AB.

Answered: 1 week ago