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Provide the appropriate general journal entry for each accounting event. Note: Some of the below are just events, not accounting events f these is an
Provide the appropriate general journal entry for each accounting event. Note: Some of the below are just events, not accounting events
f these is an Inventoriable Items versus Non-Inventoriable Items Expenditure, Expense & Loss s a merchandising vending machine supply frm You hawe trucks suppied with candy bars, ehips, soda, beer and cigarette type businesses, schools, gevemment offices etc products to stock vending machines at various other Required: 1. Provide the approprate gereral journal antry for each Accounting event in the space pravided on tha back of this sheet. Note: Some of the below are just events, nat Accourting eyenta a Order $12,000 of sgaretes on.account tiom a suppler in Sparta IL, taims Foe Spata L. The order ships lhe same day the order rs placad ard wil arrre in one week How are the cigarettes to be dassified on the date of the order? b. The freight cost for the above transaction wss $200, and will be rcladed on the imoice you receive for shipping at a later date. How is the freight cost dassifed? c. You receive the Westar electric bill n the mal for $485, due in 2 wecks. How is the bili to be classified? u+. in d. The cigarettes in event a. arrive. A worker urloads the truck and placss the oigareltes /t in stock. Classify the impact of the dgarettes artival (cigarettes; not the worker)? e. Given the worker in event d. above is paid $40 cash to unlaad the truck, elasity the worker's pay f. Classify the recording of $800 of depreciation on the delivery van. g. Order $11,000 of Snickers candy bars on account from Mars Inc. of Topeka KS Terms are n/10 FOB Manhattan, KS. The bars will arrive in 2 weeks. Classity the impact of this event on the date of the order h. The Snickers in event g. above arrive and are put in stock. Classfy tha impact of the amrval of the candy bars i. Mads a sale to K-State by stocking one of their vending machines (K-Stare owns the machine) with 1 case of Snickers, 1 case of chips, 2 cases of beer and 1 case of cigarettes. Biled K-State $280. The cost of the items sold amount to $170 Classify the impact cf this sales event. Hint This wi2 require two journal entries A forkift runs over a case of Snickers bars costing 540. Classity the impact of this event k. Pay the carette suppliers invoice from event aabove Classfy the mast af this event L Classify the impact of paying the Westar electric billStep by Step Solution
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