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Instructions Chapter 4 Accounting fo r 18 Tilustrate the effe statements of Afford ate the effects of each of the preceding transactions on the accounts and financial rements of Affordable Supplies Co. Identify each transaction Identify each transaction by date. P4-3 Sales and pur Sales and purchase-related transactions for seller and buyer The following selected transactions were completed during June between Snipes Company and Beejoy Company: Tune 8. Snipes company sold merchandise on account to Beejoy Company, $18,250 terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $10,000 8. Snipes Company paid transportation costs of $400 for delivery of merchandise sold to Beejoy Company on June 8. 12. Beejoy Company returned merchandise with a selling price of $5,000 (54.900 net of discount) purchased on June 8 from Snipes Company. The cost of the merchandise returned was $3,000. 23. Beejoy Company paid Snipes Company for purchase of June 8, less refund on return of June 12. 24. Snipes Company sold merchandise on account to Beejoy Company, $15,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $9,000. 26. Beejoy Company paid transportation charges of $375 on June 24 purchase from Snipes Company 30. Beejoy Company paid Snipes Company on account for purchase of June 24 Instructions transactions on the accounts and financial state Late 183 Chapter 4 Accounting for Retail Operations nent: Instructions Illustrate the effects of each of the preceding transactions on the accounts and financial statements of Affordable Supplies Co. Identify each transaction by date. Obj. 4,5 P4-3 Sales and purchase-related transactions for seller and buyer The following selected transactions were completed during June between Snipes Company and Becjoy Company: June Snipes Company sold merchandise on account to Beejoy Company, $18,250, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $10,000. 8 Snipes Company paid transportation costs of $400 for delivery of merchandise sold to Beejoy Company on June 8. 12. Beejoy Company returned merchandise with a selling price of $5,000 ($4.900 net of discount) purchased on June 8 from Snipes Company. The cost of the merchandise returned was $3,000. 23. Beejoy Company paid Snipes Company for purchase of June 8, less refund on return of June 12. 24. Snipes Company sold merchandise on account to Beejoy Company, $15,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $9,000. 20. Beejoy Company paid transportation charges of $375 on June 24 purchase from Snipes Company 30. Beejoy Company paid Snipes Company on account for purchase of June 24. Instructions Instructions Chapter 4 Accounting for Retail Operations Illustrate the effects of each of the preceding transactions on the accounts and financial statements of Affordable Supplies Co. Identify each transaction by date. P4-3 Sales and purchase-related transactions for seller and buyer and Beejoy Company: The following selected transactions were completed during June between Snipes Company June 8. Snipes Company sold merchandise on account to Beejoy Company. $18.250, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $10.000 8. Snipes Company paid transportation costs of $400 for delivery of merchandise sold to Beejoy Company on June 8. 12. Beejoy Company returned merchandise with a selling price of $5,000 $4.900 net of discount) purchased on June 8 from Snipes Company. The cost of the merchandise returned was $3,000. 23. Beejoy Company paid Snipes Company for purchase of June 8, less refund on return of June 12. 24. Snipes Company sold merchandise on account to Beejoy Company, $15,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $9.000. 26. Beejoy Company paid transportation charges of $375 on June 24 purchase from Snipes Company. 30. Beejoy Company paid Snipes Company on account for purchase of June 24. Instructions Illustrate the effects of each of the preceding transactions on the accounts and financial state- ments of (1) Snipes Company and (2) Beejoy Company. Identify each transaction by date. Gafbalance chat
