Question
Journalize the following transactions - Billy Bob purchased 80 bottles of shampoo/conditioner for $8/each. The bottles of shampoo/conditioner are to be held for resale. Billy
Journalize the following transactions
- Billy Bob purchased 80 bottles of shampoo/conditioner for $8/each. The bottles of shampoo/conditioner are to be held for resale. Billy uses the perpetual method. Billy uses the FIFO method to account for inventory. |
- Blizzard Inc. hired the barber shop to provide haircuts to its employees for the next six months. Blizzard Inc. paid the barber shop $5,400. The barber shop in return must provide haircuts for Blizzard Inc. employees for the next 6 months at no cost.
- Billy Bob purchased 40 bottles of shampoo/conditioner for $8.50/each. The bottles of shampoo/conditioner are to be held for resale.
- Purchased 40 bottles of shampoo/conditioner on account. The price was $9/each. The bottles of shampoo/conditioner are to be held for resale.
Accounts: |
Cash |
Accounts receivable |
Inventory |
Supplies |
Prepaid Rent |
Prepaid Insurance |
Furniture |
Accumulated Depreciation -Furniture |
Barber Chair #1 |
Accumulated Depreciation- Barber Chair 1 |
Barber Chair #2 |
Accumulated Depreciation- Barber Chair 2 |
Accounts Payable |
Salaries Payable |
Unearned Fees |
Utilites Payable |
Capital Stock |
Retained Earnings |
Dividends |
Income Summary |
Fees Earned |
Gain (or Loss) on Sale |
Sales |
Cost of Merchandise Sold |
Salaries Expense |
Rent Expense |
Supplies Expense |
Depreciation Expense |
Insurance Expense |
Utilities Expense |
Advertising Expense |
Leagal Expense |
Miscellaneous Expense |
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