Question
In: Accounting
The following transactions occur for the Wolfpack Shoe Company during the month of June: Provide services...
The following transactions occur for the Wolfpack Shoe Company during the month of June:
-
Provide services to customers for $24,000 and receive cash.
-
Purchase office supplies on account for $14,000.
-
Pay $5,800 in salaries to employees for work performed during the month.
3. Post the transactions to T-accounts. Assume the opening
balance in each of the accounts is zero.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company owns and operates a retail shoe store.
The following transactions occurred during the month of June
2021 for the Stridewell Corporation. The company owns and operates
a retail shoe store.Issued 75,000 shares of common stock in exchange for $375,000
cash.Purchased office equipment at a cost of $68,750. $27,500 was
paid in cash and a note payable was signed for the balance
owed.Purchased inventory on account at a cost of $150,000. The
company uses the perpetual inventory system.Credit sales for the month totaled $255,000. The cost of the...
The following transactions occurred during the month of June 2018 for the Stridewell Corporation. The company...
The following transactions occurred during the month of June
2018 for the Stridewell Corporation. The company owns and operates
a retail shoe store.
1.Issued 140,000 shares of common stock in exchange for $700,000
cash.
2.Purchased furniture and fixtures at a cost of $113,750.
$45,500 was paid in cash and a note payable was signed for the
balance owed.
3.Purchased inventory on account at a cost of $280,000. The
company uses the perpetual inventory system.
4.Credit sales for the month totaled...
The following transactions occurred during the month of June 2018 for the Stridewell Corporation. The company...
The following transactions occurred during the month of June
2018 for the Stridewell Corporation. The company owns and operates
a retail shoe store.
Issued 125,000 shares of common stock in exchange for $625,000
cash.
Purchased furniture and fixtures at a cost of $102,500. $41,000
was paid in cash and a note payable was signed for the balance
owed.
Purchased inventory on account at a cost of $250,000. The
company uses the perpetual inventory system.
Credit sales for the month totaled...
The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company...
The following transactions occurred during the month of June
2021 for the Stridewell Corporation. The company owns and operates
a retail shoe store.
Issued 95,000 shares of common stock in exchange for $475,000
cash.
Purchased office equipment at a cost of $83,750. $33,500 was
paid in cash and a note payable was signed for the balance
owed.
Purchased inventory on account at a cost of $190,000. The
company uses the perpetual inventory system.
Credit sales for the month totaled $323,000....
The following transactions occurred during the month of June 2016 for the Stridewell Corporation. The company...
The following transactions occurred during the month of June
2016 for the Stridewell Corporation. The company owns and operates
a retail shoe store.
1.
Issued 100,000 shares of common
stock in exchange for $500,000 cash.
2.
Purchased furniture and fixtures at a cost of $100,000. $40,000
was paid in cash and a note payable was signed for the balance
owed.
3.
Purchased inventory on account at a cost of $200,000. The
company uses the perpetual inventory system.
4.
Credit sales...
The following transactions occurred during the month of June 2018 for the Stridewell Corporation. The company...
The following transactions occurred during the month of June
2018 for the Stridewell Corporation. The company owns and operates
a retail shoe store. Issued 145,000 shares of common stock in
exchange for $725,000 cash. Purchased furniture and fixtures at a
cost of $117,500. $47,000 was paid in cash and a note payable was
signed for the balance owed. Purchased inventory on account at a
cost of $290,000. The company uses the perpetual inventory system.
Credit sales for the month totaled...
Transactions for the Concord Company, which provides welding services, for the month of June are presented...
Transactions for the Concord Company, which provides welding
services, for the month of June are presented below.
June 1
Concord invests $4,690 cash
in exchange for shares of common stock in a small welding
business.
2
Purchases equipment on
account for $1,610.
3
$730 cash is paid to landlord
for June rent.
12
Bills P. Leonard $500 after
completing welding work done on account.
Journalize the transactions. (Credit account titles are
automatically indented when the amount is entered. Do not...
2. Accounting for trade in goods and services Suppose the following transactions occur during the current...
2. Accounting for
trade in goods and services
Suppose the
following transactions occur during the current year:
1.
Dmitri
orders 50 cases of beer from a Dutch distributor at a price of $40
per case.
2.
A U.S.
company sells 200 transistors to a Spanish company at $15.00 per
transistor.
3.
Jake, a
U.S. citizen, pays $1,500 for a laptop he orders from Microell (a
U.S. company).
Complete the following
table by indicating how the combined effects of these transactions...
The following transactions took place during the month of June 2018 for Syarikat Bam Buu. Date...
The following transactions took place
during the month of June 2018 for Syarikat Bam Buu.
Date
Particular
RM
June 1
Started business with RM20,000 in
bank.
7
Sold goods on credit to Syarikat Kam
Yuu
3,000
10
Paid shop rental by cheque
1,100
12
Syarikat Kam Yuu returned goods
500
15
Withdrew cash from bank for personal
use
1,200
18
Bought goods on credit from Syarikat
Pelangi
2,000
20
Purchased an equipment on credit from
Syarikat Awan
1,000
25
Returned...
Part 1 Journalize the following transactions for the month of June for Quixote Company using the...
Part 1
Journalize the following
transactions for the month of June for Quixote Company
using the following list of
Accounts and Account numbers.
Record all entries to the
nearest cent.
(26 points)
Accounts
Cash
#110
Accounts Receivable
#112
Merchandise Inventory
#115
Estimated Returns Inventory
#116
Store Supplies
#117
Prepaid Insurance
#119
Store Equipment
#120
Accumulated Depreciation - Store Equipment
#121
Accounts Payable
#210
Salaries Payable
#211
Customer Refunds Payable
#212
Larkin, Capital
#310
Larkin, Drawing
#311
Sales
#410
Cost of...
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