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Chapter 7 Homework Required X Homework Help - Q&LA from Onl X + X Minimize C D newconnect.mheducation.com/flow/connect.html G Apps S www.islamicnet.co... Other bookmarks Chapter 7 Homework Required Saved Help Save & Exit Submit Check my work 6 Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr 2 Purchased $15,909 of merchandise on credit from Noth Company, terms 2/10, n/60. 5 (a) 3 ( b) Sold merchandise on credit to Page Alistair, Invoice No. 760, for $4,909 (cost is $2, 500). points 4 Purchased $1,600 of office supplies on credit from Custer, Inc. terms n/30. 5 Issued Check No. 587 to World View for advertising expense of $926. 6 Sold merchandise on credit to Paula Kohr, Invoice No. 761, for $9,809 (cost is $6,280). 9 Returned $95 of office supplies purchased on April 3 to Custer, Inc. Wiset reduces accounts payable by that amount. 11 Purchased $12,020 of store equipment on credit from Hal's Supply, terms n/39. BOOK 12 Sold merchandise on credit to Nic Nelson, Invoice No. 762, for $12,600 (cost is $6,409). 13 Issued Check No. 588 to Noth Company in payment of its April 2 purchase less the discount of $318. (a) 13 (b ) Received payment from Page Alistair for the April 3 sale less the discount of $98. 14 Sold $7, 200 of merchandise on credit to Page Alistair (cost is $3,609), Invoice No. 763. References 16 (2) Received payment from Paula Kohr for the April 5 sale less the discount of $196. Issued Check No. 589 for $11, 250, payee is Payroll, in payment of sales salaries expense for the first half of the month. 16 (b) Cash sales for the first half of the month are $59, 820 (cost is $38,900). These cash sales are recorded in the cash receipts journal on April 16. 17 18 Purchased $11,600 of merchandise on credit from Grant Company, terms 2/10, n/30. Borrowed $66,090 cash from First State Bank by signing a long-term note payable. 20 (2) 20 (b) Received payment from Nic Nelson for the April 11 sale less the discount of $252. 23 (a) Purchased $1,070 of store supplies on credit from Hal's Supply, terms n/30. Returned $800 of defective merchandise purchased on April 17 to Grant Company. Wiset reduces accounts payable by that amount . 23 (b) 25 Received payment from Page Alistair for the April 13 sale less the discount of $144. 26 Purchased $11,490 of merchandise on credit from Noth Company, terms 2/10, n/69. 27 (a) Issued Check No. 598 to Grant Company in payment of its April 17 invoice less the return and the discount of $216. 27 (b) Sold $3, 070 of merchandise on credit to Paula Kohr, Invoice No. 764 (cost is $2,779). 30 (3 ) Sold $6, 800 of merchandise on credit to Nic Nelson, Invoice No. 765 (cost is $4,295). Issued Check No. 591 for $11, 250, payee is Payroll, in payment of the sales salaries expense for the last half of the month. 30 (b) Cash sales for the last half of the month are $75,709 (cost is $63, 409). These cash sales are recorded in the cash receipts journal on April 38. Assume that Wiset Co. uses the perpetual inventory system. Required: 1-. Enter the transaction of the Wiset Company that should be journalized in the purchases journal. 1-b. Enter the transaction of the Wiset Company that should be journalized in the cash payments journal. 1-c. Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general journal. 2 & 3. Enter the March 31 balances of Cash ($86.000), Inventory ($132,000), Long-Term Notes Payable ($118,000). and B. Wiset. Capital ($100,000). Post the total amounts from the joumal in the following general ledger accounts and in the accounts payable subsidiary ledger accounts for Hal's Supply. Noth Company. Grant Company and Custer, Inc. 4-a. Prepare a trial balance. Graw Prey. 6 of 8 Next >Chapter 7 Homework Required X Homework Help - Q&LA from Onl X + X Minimize C D newconnect.mheducation.com/flow/connect.html G Apps S www.islamicnet.co... Other bookmarks Chapter 7 Homework Required Saved Help Save & Exit Submit Check my work 6 Assume that Wiset Co. uses the perpetual inventory system. Required: 1-a. Enter the transaction of the Wiset Company that should be journalized in the purchases journal. 5 1-b. Enter the transaction of the Wiset Company that should be journalized in the cash payments journal. points 1-c. Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general journal. 2 & 3. Enter the March 31 balances of Cash ($86.000), Inventory ($132,000), Long-Term Notes Payable ($118,000), and B. Wiset. Capital ($100,000). Post the total amounts from the joumal in the following general ledger accounts and in the accounts payable subsidiary ledger accounts for Hal's Supply. Noth Company. Grant Company and Custer, Inc. Book 4-a. Prepare a trial balance. 4-b. Prepare a schedule of accounts payable. n References Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2 and 3 Req 4A Req 4B Enter the transaction of the Wiset Company that should be journalized in the purchases journal. PURCHASES JOURNAL Date Account Date of Invoice Terms Accounts Office Other Payable Cr. Inventory Dr. Supplies Dr. |Accounts Dr. Apr. 30 Totals S o S o S o S Graw Chapter 7 Homework Required X Homework Help - Q&LA from Onl X + X Minimize C D newconnect.mheducation.com/flow/connect.html G Apps S www.islamicnet.co... Other bookmarks Chapter 7 Homework Required Saved Help Save & Exit Submit Check my work 6 Required: 1-0. Enter the transaction of the Wiset Company that should be journalized in the purchases journal. 1-b. Enter the transaction of the Wiset Company that should be journalized in the cash payments journal. 1-c. Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general journal. 5 2 & 3. Enter the March 31 balances of Cash ($86.000), Inventory ($132,000), Long-Term Notes Payable ($118,000), and B. Wiset. Capital points ($100,000). Post the total amounts from the joumal in the following general ledger accounts and in the accounts payable subsidiary edger accounts for Hal's Supply. Noth Company. Grant Company and Custer, Inc. 4-0. Prepare a trial balance. 4-b. Prepare a schedule of accounts payable. Book Complete this question by entering your answers in the tabs below. n References Req 1A Req 1B Req 1C Req 2 and 3 Req 4A Req 4B Enter the transaction of the Wiset Company that should be journalized in the cash payments journal. CASH PAYMENTS JOURNAL Payee Account Debited Cash Cr. Inventory Other Date Ck. No. Cr. Accounts Accounts Dr. Payable Dr. Apr. 30 Totals S osos o S Graw Chapter 7 Homework Required X Homework Help - Q&LA from Onl X + X C D newconnect.mheducation.com/flow/connect.html G Apps S www.islamicnet.co... Other bookmarks Chapter 7 Homework Required Saved Help Save & Exit Submit Check my work 6 Complete this question by entering your answers in the tabs below. 5 points Req 1A Req 1B Req 1C Req 2 and 3 Req 4A Req 4B Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general journal. Book View transaction list n References Journal entry worksheet 2 Returned $95 credit memorandum from Custer, Inc., for the return of some of the office supplies received on April 3. Note: Enter debits before credits. Date General Journal Debit Credit Apr. 6 Record entry Clear entry View general journal Graw Chapter 7 Homework Required X Homework Help - Q&LA from Onl X + X C D Minimize newconnect.mheducation.com/flow/connect.html G Apps S www.islamicnet.co... Other bookmarks Chapter 7 Homework Required Saved Help Save & Exit Submit Check my work 6 Complete this question by entering your answers in the tabs below. 5 points Req 1A Req 1B Req 1C Req 2 and 3 Req 4A Req 4B Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general journal. Book View transaction list n References Journal entry worksheet Graw Chapter 7 Homework Required X Homework Help - Q&LA from Onl X + X Minimize C D newconnect.mheducation.com/flow/connect.html Apps S www.islamicnet.co... Other bookmarks Chapter 7 Homework Required Saved Help Save & Exit Submit Check my work 6 Req 1A Req 1B Req 1C Req 2 and 3 Req 4A Req 4B Enter the March 31 balances of Cash ($86,000), Inventory ($132,000), Long-Term Notes Payable ($118,000), and B. Wiset, Capital ($100,000). Post the total amounts from 5 the journal in the following general ledger accounts and in the accounts payable subsidiary ledger accounts for Hal's Supply, Noth Company, Grant Company and Custer, Inc. points GENERAL LEDGER Cash Inventory Date Debit Credit Balance Date Debit Credit Balance :Book Mar. 31 Mar. 31 References Office Supplies Store Supplies Date Debit Credit Balance Date Debit Credit Balance Store Equipment Accounts Payable Date Debit Credit Balance Date Debit Credit Balance Long-Term Notes Payable B. Wiset, Capital Date Debit Credit Balance Date Debit Credit Balance Mar. 31 Mar. 31 Graw Chapter 7 Homework Required X Homework Help - Q&LA from Onl X + X Minimize C D newconnect.mheducation.com/flow/connect.html Apps S www.islamicnet.co... Other bookmarks Chapter 7 Homework Required Saved Help Save & Exit Submit Check my work 6 Long-Term Notes Payable B. Wiset, Capital 5 Date Debit Credit Balance Date Debit Credit Balance points Mar. 31 Mar. 31 Book Sales Salaries Expense Advertising Expense Date Debit Credit Balance Date Debit Credit Balance References ACCOUNTS PAYABLE LEDGER Custer, Inc. Grant Company Date Debit Credit Balance Date Debit Credit Balance Hal's Supply Noth Company Date Debit Credit Balance Date Debit Credit Balance Graw Chapter 7 Homework Required X Homework Help - Q&LA from Onl X + X Minimize C D newconnect.mheducation.com/flow/connect.html Apps S www.islamicnet.co... Other bookmarks Chapter 7 Homework Required Saved Help Save & Exit Submit Check my work 6 4-b. Prepare a schedule of accounts payable. Complete this question by entering your answers in the tabs below. 5 points Req 1A Req 1B Req 1C Req 2 and Reg 4A Req 4B Book Prepare a trial balance. WISET COMPANY n Trial Balance References April 30 Debit Credit Totals S o s Req 2 and 3 Req 4B > Graw Chapter 7 Homework Required X Homework Help - Q&LA from Onl X + X C D Minimize newconnect.mheducation.com/flow/connect.html Apps S www.islamicnet.co... Other bookmarks Chapter 7 Homework Required Saved Help Save & Exit Submit Check my work 6 Required: 1-0. Enter the transaction of the Wiset Company that should be journalized in the purchases journal. 1-b. Enter the transaction of the Wiset Company that should be journalized in the cash payments journal. 1-c. Prepare a general journal. Enter the transaction of the Wiset Company that should be journalized in the general journal. 5 points 2 & 3. Enter the March 31 balances of Cash ($86.000), Inventory ($132,000), Long-Term Notes Payable ($118,000). and B. Wiset. Capital ($100,000). Post the total amounts from the joumal in the following general ledger accounts and in the accounts payable subsidiary ledger accounts for Hal's Supply. Noth Company. Grant Company and Custer, Inc. 4-a. Prepare a trial balance. 4-b. Prepare a schedule of accounts payable. Book n Complete this question by entering your answers in the tabs below. References Req 1A Req 1B Req 1C Req 2 and 3 Req 4A Req 4B Prepare a schedule of accounts payable. WISET COMPANY Schedule of Accounts Payable April 30 Custer, Inc. Hal's Supply Noth Company Grant Company Total accounts payable S 0 Graw