TRANSACTIONS FOR JUNE 3-9 Student Analysis June 6 Service and installation work were completed on a customer's jet ski personal watercraft and the customer paid cash for the work completed. The sales invoice lists $156.00 for 2.4 hours of labor, $421.40 for accessories, and 8% sales tax on the total (labor and accessories). Invoice Number: G4013. Round all sales tax calculations to the nearest cent (Example: $46.192 = $46.19 sales tax). Merchandise listed on the sales invoice: Item Quantity Stock Number C0400 KW003 Net Cost Per Unit S88.20 $122.50 STAINLESS IMP. 1100 NOZZEL EXTENSION 1 1 The stainless impeller being sold for $176.40 cost the business $88.20. The nozzle extension cost $122.50 and is being sold for $245.00. ALL accessories carry a 50% "normal" markup on selling price (100% markup on net cost). June 6 A new shipment of Kawasaki Jet Ski personal watercraft for inventory was received. The invoice from Kawasaki USA lists the total net purchase price of $46,180.00, credit terms of 2/10, n/30, FOB shipping point terms, and the models shipped. Freight charges of $100.00 are included in the invoice which totals $46,280.00. Invoice Number: K4461. Vendor Number: 24500. Please note that all merchandise purchases by Granite Bay Jet Ski- II are recorded NET. The NET purchase price of the merchandise has been calculated at $46,180 (list price of $47,122.45 x .98 = total net cost of $46,180). Merchandise listed on the purchase invoice: Item Quantity Stock Number A1100 AU150 A900T JET SKI STX-15F ULTRA 150 JET SKI 900 STX 3 1 3 Net Cost Per Unit $7,500.00 $6,880.00 $5,600.00 Freight Charges $100.00 When the Accumulated Purchases total is in agreement with the debit to the Merchandise Inventory account and all other information is correct, click on the Post Ledger button. ****************************************************** June 6 The Rascal Bar Jetters were billed $303.80 plus sales tax for accessories installed for no-charge on their racing craft. All sales tax calculations should be rounded to the nearest cent. Invoice Number: G4014. Customer Number: 11780. Merchandise listed on the sales invoice: Item Quantity Stock Number KW003 KW001 Net Cost Per Unit $122.50 $29.40 NOZZEL EXTENSION JS BATTERY 1 1 Daily JE Adjusting JE Close JE Clear Screen Date Account Numbers and Titles Debit Credit June 4 Verify Journal Verify Documents Post Ledger Check Number Invoice Number Credit Memo Number Debit Memo Number Customer or Vendor Daily Journal Entries Mode Selected Erase Inventory Data Verify Inventory Data Inventory Item Number and Description Units Unit Cost Extension Total Cost: Total Retail: 101 Cash 102 Petty Cash 105 Accounts Receivable 106 Allowance for Doubtful Accounts 109 Notes Receivable 111 Storage Fees Receivable 113 Interest Receivable 115 Merchandise Inventory 121 Prepaid Insurance 124 Prepaid Property Tax 125 Prepaid Advertising 127 Store and Shop Supplies 131 Store Equipment and Fixtures 132 Accum. Deprec., Store Equip. and Fix. 135 Shop Equipment 136 Accum. Depreciation, Shop Equipment 139 Trucks 140 Accumulated Depreciation, Trucks 201 Accounts Payable 201 Accounts Payable 203 Notes Payable 205 Sales Tax Payable 207 Dividends Payable 209 Salaries and Wages Payable 211 Estimated Property Tax Payable 213 Income Taxes Payable 215 Interest Payable 221 Unearned Storage Fees 230 Long-term Notes Payable 301 Common Stock 305 Retained Earnings 311 Dividends Declared 401 Watercraft and Accessory Sales 402 Sales Returns and Allowances 411 Service Fees Earned 421 Storage Fees Earned 501 Cost of Goods Sold 505 Transportation-In 601 Salaries and Wages Expense 601 Salaries and Wages Expense 602 Store and Shop Supplies Expense 603 Truck and Equipment Operating Exp. 604 Advertising Expense 606 Delivery Expense 607 Credit Card Expense 608 Tools Expense 610 Dep. Expense, Store Equipment and Fix. 611 Depreciation Expense, Shop Equipment 612 Depreciation Expense, Trucks 621 Rent Expense 622 Insurance Expense 623 Bad Debt Expense 624 Property Tax Expense 625 Utilities Expense 626 Telephone Expense 627 Bank Service Charges 628 License Expense 629 Professional Services Expense 621Cash Short and Avar 612 Depreciation Expense, Trucks 621 Rent Expense 622 Insurance Expense 623 Bad Debt Expense 624 Property Tax Expense 625 Utilities Expense 626 Telephone Expense 627 Bank Service Charges 628 License Expense 629 Professional Services Expense 631 Cash Short and Over 633 Discounts Lost 635 Miscellaneous Expense 711 Interest Earned 721 Gain on Sale of Assets 741 Miscellaneous Revenue 811 Income Taxes Expense 813 Interest Expense 821 Loss on Sale/Disposal of Assets 901 Income Summary TRANSACTIONS FOR JUNE 3-9 Student Analysis June 6 Service and installation work were completed on a customer's jet ski personal watercraft and the customer paid cash for the work completed. The sales invoice lists $156.00 for 2.4 hours of labor, $421.40 for accessories, and 8% sales tax on the total (labor and accessories). Invoice Number: G4013. Round all sales tax calculations to the nearest cent (Example: $46.192 = $46.19 sales tax). Merchandise listed on the sales invoice: Item Quantity Stock Number C0400 KW003 Net Cost Per Unit S88.20 $122.50 STAINLESS IMP. 1100 NOZZEL EXTENSION 1 1 The stainless impeller being sold for $176.40 cost the business $88.20. The nozzle extension cost $122.50 and is being sold for $245.00. ALL accessories carry a 50% "normal" markup on selling price (100% markup on net cost). June 6 A new shipment of Kawasaki Jet Ski personal watercraft for inventory was received. The invoice from Kawasaki USA lists the total net purchase price of $46,180.00, credit terms of 2/10, n/30, FOB shipping point terms, and the models shipped. Freight charges of $100.00 are included in the invoice which totals $46,280.00. Invoice Number: K4461. Vendor Number: 24500. Please note that all merchandise purchases by Granite Bay Jet Ski- II are recorded NET. The NET purchase price of the merchandise has been calculated at $46,180 (list price of $47,122.45 x .98 = total net cost of $46,180). Merchandise listed on the purchase invoice: Item Quantity Stock Number A1100 AU150 A900T JET SKI STX-15F ULTRA 150 JET SKI 900 STX 3 1 3 Net Cost Per Unit $7,500.00 $6,880.00 $5,600.00 Freight Charges $100.00 When the Accumulated Purchases total is in agreement with the debit to the Merchandise Inventory account and all other information is correct, click on the Post Ledger button. ****************************************************** June 6 The Rascal Bar Jetters were billed $303.80 plus sales tax for accessories installed for no-charge on their racing craft. All sales tax calculations should be rounded to the nearest cent. Invoice Number: G4014. Customer Number: 11780. Merchandise listed on the sales invoice: Item Quantity Stock Number KW003 KW001 Net Cost Per Unit $122.50 $29.40 NOZZEL EXTENSION JS BATTERY 1 1 Daily JE Adjusting JE Close JE Clear Screen Date Account Numbers and Titles Debit Credit June 4 Verify Journal Verify Documents Post Ledger Check Number Invoice Number Credit Memo Number Debit Memo Number Customer or Vendor Daily Journal Entries Mode Selected Erase Inventory Data Verify Inventory Data Inventory Item Number and Description Units Unit Cost Extension Total Cost: Total Retail: 101 Cash 102 Petty Cash 105 Accounts Receivable 106 Allowance for Doubtful Accounts 109 Notes Receivable 111 Storage Fees Receivable 113 Interest Receivable 115 Merchandise Inventory 121 Prepaid Insurance 124 Prepaid Property Tax 125 Prepaid Advertising 127 Store and Shop Supplies 131 Store Equipment and Fixtures 132 Accum. Deprec., Store Equip. and Fix. 135 Shop Equipment 136 Accum. Depreciation, Shop Equipment 139 Trucks 140 Accumulated Depreciation, Trucks 201 Accounts Payable 201 Accounts Payable 203 Notes Payable 205 Sales Tax Payable 207 Dividends Payable 209 Salaries and Wages Payable 211 Estimated Property Tax Payable 213 Income Taxes Payable 215 Interest Payable 221 Unearned Storage Fees 230 Long-term Notes Payable 301 Common Stock 305 Retained Earnings 311 Dividends Declared 401 Watercraft and Accessory Sales 402 Sales Returns and Allowances 411 Service Fees Earned 421 Storage Fees Earned 501 Cost of Goods Sold 505 Transportation-In 601 Salaries and Wages Expense 601 Salaries and Wages Expense 602 Store and Shop Supplies Expense 603 Truck and Equipment Operating Exp. 604 Advertising Expense 606 Delivery Expense 607 Credit Card Expense 608 Tools Expense 610 Dep. Expense, Store Equipment and Fix. 611 Depreciation Expense, Shop Equipment 612 Depreciation Expense, Trucks 621 Rent Expense 622 Insurance Expense 623 Bad Debt Expense 624 Property Tax Expense 625 Utilities Expense 626 Telephone Expense 627 Bank Service Charges 628 License Expense 629 Professional Services Expense 621Cash Short and Avar 612 Depreciation Expense, Trucks 621 Rent Expense 622 Insurance Expense 623 Bad Debt Expense 624 Property Tax Expense 625 Utilities Expense 626 Telephone Expense 627 Bank Service Charges 628 License Expense 629 Professional Services Expense 631 Cash Short and Over 633 Discounts Lost 635 Miscellaneous Expense 711 Interest Earned 721 Gain on Sale of Assets 741 Miscellaneous Revenue 811 Income Taxes Expense 813 Interest Expense 821 Loss on Sale/Disposal of Assets 901 Income Summary