Using page 3 of a general journal and the following general ledger accounts and accounts payable ledger
Question:
Using page 3 of a general journal and the following general ledger accounts and accounts payable ledger accounts, journalize and post the following transactions:
Mar. 5 Returned merchandise to Tower Industries, $500.
11 Returned merchandise to A & D Arms, $625.
23 Returned merchandise to Mighty Mansion,$275.
Transcribed Image Text:
General Ledger Account Account No. 202 Balance Mar 1, 20-- $8,350 Accounts Payable Purchases Returns and Allowances 501.1 Accounts Payable Ledger Name Balance Mar 1, 20- A & D Arms Mighty Mansion Tower Industries $2,300 1,450 4,600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
DATE GENERAL JOURNAL DESCRIPTION 20 Mar 5 Accounts Payable Tower Industries Purchases Returns and Al...View the full answer
Answered By
Anjali Arora
Having the experience of 16 years in providing the best solutions with a proven track record of technical contribution and appreciated for leadership in enhancing team productivity, deliverable quality, and customer satisfaction. Expertise in providing the solution in Computer Science, Management, Accounting, English, Statistics, and Maths.
Also, do website designing and Programming.
Having 7 yrs of Project Management experience.
100% satisfactory answers.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
The following general ledger accounts and additional information are taken from the records of Wolfe Corporation at the end of its fiscal year, December 31, 2016. Additional information: a. The...
-
The following general ledger accounts are included in the trial balance for an audit client, Jones Wholesale Stationery Store. Accounts payable Insurance expense Accounts receivable Interest expense...
-
The following general ledger accounts are included in the trial balance for an audit client, Jones Wholesale Stationery Store. Income tax expense Income tax payable Accounts receivable Advertising...
-
Charles has a savings account with a balance, today, of 100,000 SAR in his investment account. He expects to obtain a yearly return of 12% in his investments. How long will it take for Charles to...
-
The following income statement and information about changes in noncash current assets and current liabilities are reported. Changes in current asset and current liability accounts for the year that...
-
Predict the elimination products formed by debromination of the following compounds with iodide ion in acetone. Include stereochemistry, and give a correct name for each product. (a)...
-
If the terms such as those in Problems 7 and 8 appear in the flow equations solved by an RANS method, do they need closure models? Explain your answer.
-
Ophir Investments Inc. is a regional investment company that began operations on January 1, 2012. The following transactions relate to trading securities acquired by Ophir Investments Inc., which has...
-
please explain and show work for answers A-D.. 4. Find at least two candidate functions, fi(7) and /2(2) for finding roots of g(x) via fixed point iteration. In other words, convert the problem of...
-
In early 2014, Paul Bills, CFO of Harvard Business Publishing (HBP), sat down with David Wan, the companys CEO, to discuss budget preparations for the coming year. Bills noted that the performance of...
-
Journalize the following transactions in a general journal: Jan. 3 Purchased merchandise from Feng, $6,000. Invoice No. 416, dated January 1, terms 2/10, n/30. 12 Purchased merchandise from Miranda,...
-
Enter the following cash payments transactions in a general journal: Apr. 5 Issued Check No. 429 to Standard Industries for merchandise purchased March 27, $8,000, terms 2/10, n/30. Payment is made...
-
Al is in the state penitentiary after being convicted of a series of crimes. He still corresponds with his girlfriend to ask for money, and this year, she has sent him a total of $1,200. Als only...
-
1. From your chief executive: Whats this I hear about talent management? Is it simply new wine in old bottles as so many innovative HR practices seem to be? Is it for us and if so, why and how? How...
-
This is the first accounting period for Lo Lo Lawrence Landscaping. The Temporary Equity accounts have the following balances on July 3 1 st: Revenue $ 1 0 0 , 0 0 0 Withdrawals $ 2 0 , 0 0 0 Salary...
-
Calculate the federal income tax liability of a worker who earned $522,503 in 2019, and who takes the standard deduction of $12,200. Keep in mind that calculations of federal income tax drop any...
-
Waterway Company is a very proftable small business. It has not, however, given much consideration to internal control. For example, in an attempt to keep clerical and office expenses to a minimum,...
-
What did the programmer intend? What mistake did he make?
-
How can one use financial projections to assess the financial attractiveness of a venture?
-
True & False The basis of an asset must be reduced by the depreciation allowable, 2. Adjusted gross income (AGI) is the basis for a number of phase-outs of deductions. 3. A change to adjusted gross...
-
Determine convergence or divergence using any method covered in the text. n=2 n3 2n2 + n - 4 2n4 + 33 4n2 1
-
From the following balances, determine the cost of the raw materials used: Raw Materials Purchases (net) ......... $ 1,621,000 Raw Materials Inventory, August 31 ........ 479,000 Raw Materials...
-
From the following balances, calculate the total manufacturing costs, which contain the following three elements: Raw Materials Used ......... $ 341,000 Direct Labor ............ 274,000...
-
Pratt Corporation manufactures electric staplers and uses a job-order cost accounting system. Record the journal entries for the following transactions. (Assume that Pratt uses a perpetual inventory...
-
Question 20 (1 point) A is the maximum sales available to all firms in an industry during a given period, under a given level of industry marketing effort and environmental conditions. A) market...
-
You work for a supplier that provides technology products to a variety of industries. One of your partners calls you and indicates they need to buy 10 computers that will run an application that...
-
"Ecommerce is the newest and most disruptive distribution channel wherein 1 po goods and services are represented virtually online and then distributed directly to the buyer" Agree Disagree
Study smarter with the SolutionInn App