plead usse a chart to explain and outline and nunber each date .
2. Illustrate the effects on the accounts and financial statements of recording the following transactions for Beejoy Company. Identify each transaction by date. June 8. Snipes Company sold merchandise on account to Beejay Company, $18,250, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $10,000. June 8. Snipes Company paid transportation costs of $400 for delivery of merchandise sold to Beejoy Company on June 8. Yalance Sheet Statement of Assets Liabilities Stockholders' Equity Income Statement Cash Flows No Effect + Inventory Accounts Payable + No Effect June 8. Statement of Cash Flows Income Statement No effect No effect June 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 Balance Sheet Statement of Cash Flows Assets Liabilities Stockholders' Equity Income Statement No Effect Inventory Accounts Payable No Effect June 12 June 12. Beejay 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. Balance Sheet Stockholders Statement of Cash Flows Assets Liabilities Equity Income Statement No Effect + Inventory Accounts Payable No Effect June 12. Statement of Cash Flows Income Statement No effect No effect June 23. Bejoy Company paid Snipes Company for purchase of June 8, less refund on return of June 12. Balance Sheet Statement of Cash Flows Assets Liabilities Stockholders Equity Income Statement Cash + No Effect = Accounts Payable + No Effect June 23 Statement of Cash Flows Income Statement Operating No effect June 24. Snipes Company sold merchandise on account to Bejoy Company, $15,000, terms FOB shipping point, w/com. The cost of the merchandise sold was $9,000 Balance Sheet Statement of Assets Liabilities Cash Flows + Stockholders Equity Income Statement No Effect + Inventory Accounts Payable No Effect June 24, Statement of Cash Flows Income Statement Financing X No effect June 26. Bejoy Company paid transportation charges of $375 on June 24 purchase from Snipes Company. Balance Sheet Statement of Stockholders' Assets Liabilities Income Statement Cash Flows Equity No Effect Cash Inventory X No Effect X June 26. Statement of Cash Flows Income Statement Operating No effect June 30. Beejoy Company paid Snipes Company on account for purchase of June 24. Balance Sheet Statement of Cash Flows Stockholders' Assets Income Liabilities Equity Statement Cash + No Effect Accounts Payable + No Effect June 30. Statement of Cash Flows Income Statement Operating No effect
