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I did really poorly on the last one, so I need help :( Selected transactions completed by Blackwell Company during its first fiscal year ending
I did really poorly on the last one, so I need help :( Selected transactions completed by Blackwell Company during its first fiscal year ending December 31 were as follows: Jan. 2. Issued a check to establish a petty cash fund of $2,000. Mar. 4. Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $789; miscellaneous selling expense, $256; miscellaneous administrative expense, $378. Apr. 5. Purchased $14,000 of merchandise on account, terms 1/10, n/30. The perpetual inventory system is used to account for inventory. May 7. Paid the invoice of April 5 after the discount period had passed. 10. Received cash from daily cash sales for $9,455. The amount indicated by the cash register was $9,545. June 2. Received a 60-day, 9% note for $80,000 on the Stevens account. Aug. 1. Received amount owed on June 2 note, plus interest at the maturity date. 8. Received $3,400 on the Jacobs account and wrote off the remainder owed on a $4,000 accounts receivable balance. (The allowance method is used in accounting for uncollectible receivables.) Aug. 25. Reinstated the Jacobs account written off on August 8 and received $600 cash in full payment. Sept. 2. Purchased land by issuing a $300,000, 90-day note to Ace Development Co., which discounted it at 10%. Oct. 2. Sold office equipment in exchange for $60,000 cash plus receipt of a $40,000, 120-day, 6% note. The equipment had cost $140,000 and had accumulated depreciation of $25,000 as of October 1. Nov. 30. Journalized the monthly payroll for November, based on the following data: 30. Journalized the employer
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