Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Post the items to either general journal, sale journal, purchase journal, cash receipt journal, or cash payments journal Recorded the semi-monthly payroll for our only

image text in transcribed
Post the items to either general journal, sale journal, purchase journal, cash receipt journal, or cash payments journal
Recorded the semi-monthly payroll for our only employee, B. Zet, as follows (record this Dec 14 entry and the next one, as is, in the general journal) $800 Salary Expense $120 61 Federal Income Tax Payable FICA Tax Payable State Income Tax Payable Medical Insurance Payable 590 14 Recorded employer's payroll taxes as follows: $110 Payrol Tax Expense $61 FICA Tax Payable FUI Tax Payable SUI Tax Payable 43 Dec 14 Recorded cash sales for the week, $8,240. The cost of the merchandise was $3,296 Dec 15 issued check #1005 to B. Zet, $500 00" (He thanked us for his weekly paycheck and asked for a bonus so he could take his suite wife, Carmen, on a second honeymoon. He was told to compose himself, and we would see what we could do.) The 15 Issued a credit memorandum to Levi Strauss for return of some merchandise, $400. merchandise was in good condition. (Mr. Strauss changed his mind as easily as one, two, three.) The cost of the returns was in the same proportion as the original sale. Received a check from Al Legro on account in payment of his Dec 5 invoice. Received the following checks from customers on accourt Deo 16 Dec 16 Clef Hangers- in payment of his Dec 8 invoice. Levi Strauss- in payment of his Dec 5 invoice. Purchased some merchandise for resale from each of the following supply houses on account 17 Bach Scratchers $4,150. (He seemed to be walking around in a fugue.) Handel's Graspers, $2,900. (Every year he attended the royal fireworks.) Baits and Hovens, $7,200. (We have to be careful in communicating with the owner because he is a little hard of hearing ) Paid Pachel's Bells and Bulbs the amount due from the Dec 10 purchase, check #1006. Paid Show Pan the amount due from the Dec 12 purchase, check #1007, (The check Mr. Yur-Karte, the owner, took home office supplies for his own personal use, $135. This 18 9 bonded us to Mr. Pan.) Dec 20 should be recorded as a dividend De21 Recorded cash sales for the week, $7,380. The cost of the merchandise was $2,952

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions