Ready-Set-Go had various merchandising transactions throughout July including sales, returns, purchases and payments. On July 1st, they had £1,200 of inventory. Throughout the month they recorded sales, returns, purchases and payments. On July 31st, their inventory was £1,350.
Ready-Set-Go had various merchandising transactions throughout July including sales, returns, purchases and payments. On July 1st, they had £1,200 of inventory. Throughout the month they recorded sales, returns, purchases and payments. On July 31st, their inventory was £1,350.
Ready-Set-Go had various merchandising transactions throughout July including sales, returns, purchases and payments. On July 1st, they had £1,200 of inventory. Throughout the month they recorded sales, returns, purchases and payments. On July 31st, their inventory was £1,350.
Ready-Set-Go had various merchandising transactions throughout July including sales, returns, purchases and payments. On July 1st, they had £1,200 of inventory. Throughout the month they recorded sales, returns, purchases and payments. On July 31st, their inventory was £1,350.
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P5-1A Ready-Set-Go, Ltd.
distributes suitcases to retail stores and extends credit terms of
1/10, n/30 to all of its customers. At the end of June, Ready-Set-Go’s inventory consisted of suitcases costing £1,200. During the month of July, the following merchandising trans_xFFFE_actions occ
Date Account July 1 Inventory Account Payable Freight payment Cash 3 Account Receivable Sales Revenue Cost of Goods Sold Inventory 9 Account Payable Discount Cash 12 Cash Sales Return and Allowance Account Receivable 17 Account Receivable Sales Revenue Cost of Goods Sold Inventory 18 Inventory Account Payable
freight payment Cash 20 Account Payable Inventory freight payment 21 Cas Sales and Allowance Account Receivable
22 Account Receivable Sales Revenue
Cost of Goods Sold
Inventory 30 Account Payable Cash 31 Sales and Allowance Account Receivable 31 Sales and Allowance Account Receivable Inventory Cost of Goods Sold consisted of P5-3A Starz Department Store, Ltd. is located near th g trans_xFFFE_actions occurred. of the company’s calendar year on December two of its trial balances
Debit Kredit £1,620 a) Start Departemen Store £1,620 Income Statement £100 £100 Revenue £2,200 Sales Revenue £2,200 Sales Return and Allowance £1,400 Interest revenue £1,400 Cost of Goods Sold £1,620 32.4 1587.6 Expense 2178 Depreciation Expense 22 Insurance Expense £2,200 Interest Expense £1,400 Property Tax Expense £1,400 Salaries and Wages Expense £1,030 Sales Commissions Expense £1,030 Utilities Expense £1,900 £1,900 £125 Net Income £125 £300 Start Departemen Store 175 Retained earnings 125 Retained earnings, Januari 1386 Add: Net income 14 £1,400 Less: Divident £2,400 Retained earnings, December £2,400 £1,350 £1,350 £1,600 Start Departemen Store £1,600 Statement Financial Position £200 Asset £200 £200 £200 Cash £120 Account Receivable £120 Inventory Building Accumulated Depreciation-building
Equipment Accumulated Dereciation- Equipment
Prepaid Insurance Total Asset
Liabilities and Equity
Account Payable Interest Payable Mortgage payable Property Tax Payable Sales Commisions Payable Share Capital-Ordinary Mortgage payable due next year Total ore, Ltd. is located near the Towne Shopping Mall. At the end endar year on December 31, 2017, the following accounts appeared in
Departemen Store b) Adjusting Entrie
ome Statement Date Account Dec 31 Depreciation expense Acc.depr -Building Acc. Depr-Equipment 724000 -8000 Insurance expense 4000 Prepaid insurance -412700 Property Tax Expense 307300 Property Tax Payable Interest expense Interest Payable 23500 Sales Commissions Expense 7200 Sales Commissions Payable 8100 Utilities Expense 4800 Account Payable 105000 14500 12000 175100 c) Closing Entrie No Account 132200 1 Sales Revenue Income Summary Departemen Store 2 Income Summary tained earnings 64600 Depreciation Expense Insurance Expense 132200 Interest Expense 196800 Property Tax Expense 24000 Salaries and Wages Expense Sales Comm. Expense 172800 Utilities Expense
3 Income Summary Retained earnings Departemen Store 4 Retained earnings ent Financial Position Divident 23,800 50,300 75,000 290000 52500 237,500 110000 42700 67,300 2,400 456,300
