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please complete accordingly Assume it is Monday, May 1 , the first business day of the month, and you have just been hired as the

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please complete accordingly
Assume it is Monday, May 1 , the first business day of the month, and you have just been hired as the accountant for Colo Company, which operates with monthly accounting periods. All of the company's accounting work is completed through the end of April, and its ledgers show April 30 balances. During your first month on the job, the company experiences the following transactions and events (terms for all its credit sales are 2/10,n/30 unless stated differently): May 1 Issued Check Number 3410 to S\&P Management Company in payment of the May rent for $3,750. Charge $2,976 to Rent Expense-Selling Space, and charge $774 to Rent Expense-0ffice Space. (Use two lines to record the transaction.) May 2 (a) Sold merchandise on credit to Hensel Company, Invoice Number 8785, for $6,500 (cost is $4,500 ). May 2 (b) Issued an allowance (price reduction) of $195 to Knox Company for merchandise sold on April 28 . The total selling price (gross) was $4,745. May 3 Issued a refund of $806 to Peyton Products for the return of merchandise purchased on April 29 . Colo's accounts payable was reduced by that amount. May 4 Purchased the following on credit from Gear Supply Company: merchandise, \$37,080; store supplies, \$582; and office supplies, $87. Invoice dated May 4 , terms n/30. May 5 Received payment from Knox Company for the balance from the April 28($4,550) sale less the May 2 return and the $91 discount. May 8 Issued Check Number 3411 to Peyton Products to pay for the $7,118 of merchandise purchased on April 29 less the May 3 return and the $134 discount. May 9 Sold store supplies (noninventory) to the business next door at their cost of \$362 cash. Hint: Enter "Store Supplies" only in the Account Credited column. May 10 Purchased $4,098 of office equipment on credit from Gear Supply Company, terms n/30. May 11 (a) Received payment from Hensel Company for the May 2 sale less the discount of $130. May 11 (b) Purchased $9,200 of merchandise from Garcia, Incorporated, terms 2/10, n/30. May 12 Received a(n) $878 price reduction from Gear Supply Company for the return of office equipment received on May 10. Colo debited accounts payable by that amount. May 15 (a) Issued Check Number 3412 , payable to Payrol1, in payment of sales salaries, \$5,360, and office salaries, $3,190 May 15 (b) Cash sales for the first half of the month are $59,300 (cost is $38,280 ). These cash sales are recorded in the cash receipts journal on May 15 . May 15 (c) Post to the customer and creditor accounts. Also post individual items that are not included in column totals at the end of the month to the general ledger accounts. May 16 Sold merchandise on credit to Hensel Company, Invoice Number 8786, for $4,030 (cost is $1,930 ). May 17 Purchased $13,690 of merchandise from Fink Corporation, terms 2/10,n/60. May 19 Issued Check Number 3413 to Garcia, Incorporated, in payment of its May 11 purchase less the discount of \$196. May 22 Sold merchandise to Lee Services, Invoice Number 8787 , for $6,890 (cost is $5,030 ), terms 2/10, n/60. May 23 Issued Check Number 3414 to Fink Corporation in payment of its May 17 purchase less the discount of \$281. May 24 Purchased the following on credit from Gear Supply Company: merchandise, $8,200; store supplies, $670; and office supplies, $360. Terms n/30. May 25 Purchased $3,160 of merchandise from Peyton Products, terms 2/10,n/30. May 26 (a) Sold merchandise on credit to Crane Corporation, Invoice Number 8788 , for $14,250 (cost is $8,310 ). May 26 (b) Issued Check Number 3415 to Perennial Power in payment of the May electric bill, \$1,291. May 29 The owner of Colo Company, Jenny Colo, used Check Number 3416 to withdraw $7, 000 cash from the business for personal use. May 30 (a) Received payment from Lee Services for the May 22 sale less the discount of $141. May 30 (b) Issued Check Number 3417, payable to Payroll, in payment of sales salaries, $5,360, and office salaries, $3,190. May 31 (a) Cash sales for the last half of the month are $66,084 (cost is $42,520 ). These cash sales are recorded in the cash receipts journal on May 31 . May 31 (b) Post to the customer and creditor accounts. Also post individual items that are not included in column totals at the end of the month to the general ledger accounts. Foot and crossfoot the journals and make the monthend postings. Required: 1-a. Enter the transactions in a sales journal. 1-b. Enter the transactions in a purchases journal. 1-c. Enter the transactions in a cash receipts journal. 1-d. Enter the transactions in a cash payments journal. 1-e. Enter the transactions in a general journal. Assume a perpetual inventory system. Complete this question by entering your answers in the tabs below. Enter the transactions in a sales journal. Complete this question by entering your answers in the tabs below. Enter the transactions in a purchases journal. Complete this question by entering your answers in the tabs below. Enter the transactions in a cash receipts journal. Complete this question by entering your answers in the tabs below. Enter the transactions in a cash payments journal. (Enter the transactions in chronological order.) Complete this question by entering your answers in the tabs below. Enter the transactions in a general journal. Journal entry worksheet Issued an allowance (price reduction) of $195 to Knox Company for merchandise sold on April 28. The total selling price (gross) was $4,745. Note: Enter debits before credits. 2-a. Complete the work sheet using the following information for accounting adjustments. Prepare and post adjusting and closing entries. a. Expired insurance, $557. b. Ending store supplies inventory, $2,636. c. Ending office supplies inventory, $508. d. Depreciation of store equipment, $571. e. Depreciation of office equipment, \$333. 2-b. Prepare all necessary ledgers for accounting adjustments. 2-c. Prepare a work sheet for the month ended May 31. 3-a. Prepare a May multiple-step income statement. 3-b. Prepare a May statement of owner's equity. 3-c. Prepare a May 31 classified balance sheet. 4-a. Prepare a post-closing trial balance. 4-b1. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts receivable. 4-b2. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts payable. Complete this question by entering your answers in the tabs below. Prepare and post adjusting and closing entries. Journal entry worksheet Complete this question by entering your answers in the tabs below. Prepare a work sheet for the month ended May 31 . Complete this question by entering your answers in the tabs below. Prepare a May multiple-step income statement. 2-a. Complete the work sheet using the following information for accounting adjustments. Prepare and post adjusting and closing entries. a. Expired insurance, $557. b. Ending store supplies inventory, $2,636. c. Ending office supplies inventory, $508. d. Depreciation of store equipment, \$571. e. Depreciation of office equipment, $333. 2-b. Prepare all necessary ledgers for accounting adjustments. 2-c. Prepare a work sheet for the month ended May 31. 3-a. Prepare a May multiple-step income statement. 3-b. Prepare a May statement of owner's equity. 3-c. Prepare a May 31 classified balance sheet. 4-a. Prepare a post-closing trial balance. 4-b1. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts receivable. 4-b2. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts payable. Complete this question by entering your answers in the tabs below. Prepare a May statement of owner's equity. Complete this question by entering your answers in the tabs below. Prepare a May 31 classified balance sheet. 2-a. Complete the work sheet using the following information for accounting adjustments. Prepare and post adjusting and closing entries. a. Expired insurance, \$557. b. Ending store supplies inventory, $2,636. c. Ending office supplies inventory, $508. d. Depreciation of store equipment, $571. e. Depreciation of office equipment, $333. 2-b. Prepare all necessary ledgers for accounting adjustments. 2-c. Prepare a work sheet for the month ended May 31. 3-a. Prepare a May multiple-step income statement. 3-b. Prepare a May statement of owner's equity. 3-c. Prepare a May 31 classified balance sheet. 4-a. Prepare a post-closing trial balance. 4-b1. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts receivable. 4-b2. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts payable. Complete this question by entering your answers in the tabs below. Prepare a post-closing trial balance. 2-a. Complete the work sheet using the following information for accounting adjustments. Prepare and post adjusting and closing entries. a. Expired insurance, $557. b. Ending store supplies inventory, $2,636. c. Ending office supplies inventory, $508. d. Depreciation of store equipment, $571. e. Depreciation of office equipment, $333. 2-b. Prepare all necessary ledgers for accounting adjustments. 2-c. Prepare a work sheet for the month ended May 31. 3-a. Prepare a May multiple-step income statement. 3-b. Prepare a May statement of owner's equity. 3-c. Prepare a May 31 classified balance sheet. 4-a. Prepare a post-closing trial balance. 4-b1. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts receivable. 4-b2. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts payable. Complete this question by entering your answers in the tabs below. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts receivable. 2-a. Complete the work sheet using the following information for accounting adjustments. Prepare and post adjusting and closing entries. a. Expired insurance, $557. b. Ending store supplies inventory, $2,636. c. Ending office supplies inventory, $508. d. Depreciation of store equipment, $571. e. Depreciation of office equipment, $333. 2-b. Prepare all necessary ledgers for accounting adjustments. 2-c. Prepare a work sheet for the month ended May 31. 3-a. Prepare a May multiple-step income statement. 3-b. Prepare a May statement of owner's equity. 3-c. Prepare a May 31 classified balance sheet. 4-a. Prepare a post-closing trial balance. 4-b1. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts receivable. 4-b2. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts payable. Complete this question by entering your answers in the tabs below. Prove the accuracy of subsidiary ledgers by preparing schedules of accounts payable

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