Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer this question for me perfectly my phone camera is not very good but please answer perfectly i will give thumbs up The TJX

please answer this question for me perfectly my phone camera is not very good but please answer perfectly i will give thumbs up
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The TJX Companies, Inc. (TJX) describes itself as follows in its first footnote: TJXwes and worldwide. We have over 4,500 stores and four distinctive branded that offer a rapidly changing assortment of quality, fashionable, brand name and designer merchandise ar prices generally 2096 to 60% below fill-price retails regular prices on comparable merchandise, every day. We operate ou business in four main segments: Marmaxx and HomeGoods, both in the US, TIX Canada and TX International Below you will see SOME (not alll) of TJX's transactions in their most recent fiscal year. Provide the journal entry or entries (accounts and amounts) needed to record each transaction a) Paid S29,004 million cash for current-period operating expenses. Account Title Debit Credit b) Purchased 54,337 million worth of inventories on account. Account Title Debit Credit c) Purchased new equipment costing $568 million on account Account Title Debit Credit 7 English Tured States Focus & 7 5 W E R T Y o S D F G H J * X B N M and LO Style AOAaBb FEE Below you will see SOME (not alll) of TX's transactions in their most recent fiscal year. Provide the journal entry or entries (accounts and amounts needed to record each transaction. a) Paid S29,004 million cash for current period operating expenses. Account Title Debir Credit b) Purchased $4,337 million worth of inventories on account Account Title Credit Debit 1 c) Purchased new equipment costing $568 million on account Account Title Debit Credit d) Paid $2,673 million cash for accounts payable due to suppliers. Account Tule Debit Credit Had $32.137 million in sales to customers. Assume that all sales were credit les English DF of 4 de o M Time AUDIO Aalb LO See Pem Peste Dictate c) Had $82,137 million in sales to customers. Assume that all sales were credit sales Account Title Debit Credit 1) Collected S42,040 million cash from customers related to prior credit sales. Account Title Debit Credit ) Paid $3,042 million cash for currcot-period wages and salaries. Account Title Debit Credit Page 14677 tragiat Lated Sha C 5 G k C M Posts Styles Det h) Paid $1 million cash for income tax expense for the year Account Title Debit Credit 1) Issued new common stock for $211 million cash. Account Title Debit Credir 1 Declared and paid cash dividends of S278 million Account Title Debit Credit ) Based on the journal entries you've prepared, calculate TIX's Net IncomoNet Los) SHOW YOUR WORK TIX's Net Income Netlo 4 rains are 3. R. T Y u o K. V . N M TIX's Net Income|Net Lot) 1. At the beginning of the period, TX had a Cash balance of 53.217 million. Use this beginning balance and your journal entries to show what TeX's Cash T account would look like for the most recent period and calculate TX's ending Cash balance. SHOW YOUR WORK C TIX Ending Carbalance > w T F HE K C N M

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

5th Edition

9781118560952, 1118560957, 978-0470239803

More Books

Students also viewed these Accounting questions

Question

Find all solutions to the equation. sin2x + sin x = 0

Answered: 1 week ago