In: Accounting
The following selected transactions were completed by Capers Company during October of the current year:
Oct. | 1 | Purchased merchandise from UK Imports Co., $14,448, terms FOB destination, n/30. |
3 | Purchased merchandise from Hoagie Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice. | |
4 | Purchased merchandise from Taco Co., $13,650, terms FOB destination, 2/10, n/30. | |
6 | Issued debit memo to Taco Co. for $4,550 of merchandise returned from purchase on October 4. | |
13 | Paid Hoagie Co. for invoice of October 3. | |
14 | Paid Taco Co. for invoice of October 4 less debit memo of October 6. | |
19 | Purchased merchandise from Veggie Co., $27,300, terms FOB shipping point, n/eom. | |
19 | Paid freight of $400 on October 19 purchase from Veggie Co. | |
20 | Purchased merchandise from Caesar Salad Co., $22,000, terms FOB destination, 1/10, n/30. | |
30 | Paid Caesar Salad Co. for invoice of October 20. | |
31 | Paid UK Imports Co. for invoice of October 1. | |
31 | Paid Veggie Co. for invoice of October 19. |
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Journalize the entries to record the transactions of Capers Company for October. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
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JOURNAL
ACCOUNTING EQUATION
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Journal Entries - Capers Company | Accounting Equation | |||||
Date | Particulars | Debit | Credit | Asset | Liabilities | Equity |
1-Oct | Inventory Dr | $14,448.00 | ↑ | |||
To Accounts payable - UK Imports Co. | $14,448.00 | ↑ | ||||
(To record merchandise purchased on account) | ||||||
3-Oct | Inventory Dr | $9,971.00 | ↑ | |||
To Accounts payable - Hoagie Co. | $9,971.00 | ↑ | ||||
(To record merchandise purchased on account) | ||||||
4-Oct | Inventory Dr | $13,377.00 | ↑ | |||
To Accounts payable - Taco Co. | $13,377.00 | ↑ | ||||
(To record merchandise purchased on account) | ||||||
6-Oct | Accounts payable - Taco Co. Dr | $4,459.00 | ↓ | |||
To Inventory | $4,459.00 | ↓ | ||||
(To record merchandise returned) | ||||||
13-Oct | Accounts payable - Hoagie Co. Dr | $9,971.00 | ↓ | |||
To Cash | $9,971.00 | ↓ | ||||
(To record payment for accounts payable) | ||||||
14-Oct | Accounts payable - Taco Co. Dr | $8,918.00 | ↓ | |||
To Cash | $8,918.00 | ↓ | ||||
(To record payment for accounts payable) | ||||||
19-Oct | Inventory Dr | $27,300.00 | ↑ | |||
To Accounts payable - Veggie Co | $27,300.00 | ↑ | ||||
(To record merchandise purchased on account) | ||||||
19-Oct | Inventory Dr | $400.00 | ↑ | |||
To Cash | $400.00 | ↓ | ||||
(To record freight payment) | ||||||
20-Oct | Inventory Dr | $21,780.00 | ↑ | |||
To Accounts payable - Caesar Salad Co. | $21,780.00 | ↑ | ||||
(To record merchandise purchased on account) | ||||||
30-Oct | Accounts payable - Caesar Salad Co. Dr | $21,780.00 | ↓ | |||
To Cash | $21,780.00 | ↓ | ||||
(To record payment for accounts payable) | ||||||
31-Oct | Accounts payable - UK Imports Co. Dr | $14,448.00 | ↓ | |||
To Cash | $14,448.00 | ↓ | ||||
(To record payment for accounts payable) |
Related SolutionsThe following selected transactions were completed by Capers Company during October of the current year: Oct...The following selected transactions were completed by Capers
Company during October of the current year: Oct 1. Purchased
merchandise from UK Imports Co., $14,448, terms FOB destination,
n/30. 3. Purchased merchandise from Hoagie Co., $9,950, terms FOB
shipping point, 2/10, n/eom. Prepaid freight of $220 was added to
the invoice. 4. Purchased merchandise from Taco Co., $13,650, terms
FOB destination, 2/10, n/30. 6. Issued debit memo to Taco Co. for
$4,550 of merchandise returned from purchase on October 4. Oct...
The following selected transactions were completed by Capers Company during October of the current year: Oct....The following selected transactions were completed by Capers
Company during October of the current year:
Oct.
1
Purchased merchandise from UK Imports Co., $13,322, terms FOB
destination, n/30.
3
Purchased merchandise from Hoagie Co., $10,650, terms FOB
shipping point, 2/10, n/eom. Prepaid freight of $240 was added to
the invoice.
4
Purchased merchandise from Taco Co., $13,700, terms FOB
destination, 2/10, n/30.
6
Issued debit memo to Taco Co. for $4,850 of merchandise
returned from purchase on October 4.
13...
The following selected transactions were completed by Capers Company during October of the current year: Oct....The following selected transactions were completed by Capers
Company during October of the current year:
Oct.
1
Purchased merchandise from UK
Imports Co., $15,458, terms FOB destination, n/30.
3
Purchased merchandise from Hoagie
Co., $9,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight
of $200 was added to the invoice.
4
Purchased merchandise from Taco
Co., $13,550, terms FOB destination, 2/10, n/30.
6
Issued debit memo to Taco Co. for
$4,350 of merchandise returned from purchase on October 4.
13...
The following selected transactions were completed by Capers Company during October of the current year: Oct....The following selected transactions were completed by Capers
Company during October of the current year:
Oct.
1
Purchased merchandise from UK
Imports Co., $14,448, terms FOB destination, n/30.
3
Purchased merchandise from Hoagie
Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight
of $220 was added to the invoice.
4
Purchased merchandise from Taco
Co., $13,650, terms FOB destination, 2/10, n/30.
6
Issued debit memo to Taco Co. for
$4,550 of merchandise returned from purchase on October 4.
13...
The following selected transactions were completed by Capers Company during October of the current year: Oct....The following selected transactions were completed by Capers
Company during October of the current year:
Oct.
1
Purchased merchandise from UK
Imports Co., $13,201, terms FOB destination, n/30.
3
Purchased merchandise from Hoagie
Co., $10,050, terms FOB shipping point, 2/10, n/eom. Prepaid
freight of $220 was added to the invoice.
4
Purchased merchandise from Taco
Co., $13,450, terms FOB destination, 2/10, n/30.
6
Issued debit memo to Taco Co. for
$4,100 of merchandise returned from purchase on October 4.
13...
The following selected transactions were completed by Capers Company during October of the current year: Oct....The following selected transactions were completed by Capers
Company during October of the current year:
Oct.
1
Purchased merchandise from UK Imports Co., $13,377, terms FOB
destination, n/30.
3
Purchased merchandise from Hoagie Co., $10,650, terms FOB
shipping point, 2/10, n/eom. Prepaid freight of $230 was added to
the invoice.
4
Purchased merchandise from Taco Co., $14,350, terms FOB
destination, 2/10, n/30.
6
Issued debit memo to Taco Co. for $5,000 of merchandise
returned from purchase on October 4.
13...
The following selected transactions were completed by Capers Company during October of the current year: Oct....The following selected transactions were completed by Capers
Company during October of the current year:
Oct.
1
Purchased merchandise from UK Imports Co., $13,377, terms FOB
destination, n/30.
3
Purchased merchandise from Hoagie Co., $10,650, terms FOB
shipping point, 2/10, n/eom. Prepaid freight of $230 was added to
the invoice.
4
Purchased merchandise from Taco Co., $14,350, terms FOB
destination, 2/10, n/30.
6
Issued debit memo to Taco Co. for $5,000 of merchandise
returned from purchase on October 4.
13...
The following selected transactions were completed by Capers Company during October of the current year: Oct....The following selected transactions were completed by Capers
Company during October of the current year:
Oct.
1 Purchased merchandise from UK Imports Co., $13,031, terms FOB
destination, n/30.
3 Purchased merchandise from Hoagie Co., $9,150, terms FOB
shipping point, 2/10, n/eom. Prepaid freight of $205 was added to
the invoice.
4 Purchased merchandise from Taco Co., $14,800, terms FOB
destination, 2/10, n/30.
6 Issued debit memo to Taco Co. for $4,600 of merchandise
returned from purchase on October 4.
13...
The following selected transactions were completed by Capers Company during October of the current year: Oct....The following selected transactions were completed by Capers
Company during October of the current year:
Oct.
1
Purchased merchandise from UK Imports Co., $14,448, terms FOB
destination, n/30.
3
Purchased merchandise from Hoagie Co., $9,950, terms FOB
shipping point, 2/10, n/eom. Prepaid freight of $220 was added to
the invoice.
4
Purchased merchandise from Taco Co., $13,650, terms FOB
destination, 2/10, n/30.
6
Issued debit memo to Taco Co. for $4,550 of merchandise
returned from purchase on October 4.
13...
The following selected transactions were completed by Capers Company during October of the current year: Oct....The following selected transactions were completed by Capers
Company during October of the current year:
Oct.
1
Purchased merchandise from UK Imports Co., $14,448, terms FOB
destination, n/30.
3
Purchased merchandise from Hoagie Co., $9,950, terms FOB
shipping point, 2/10, n/eom. Prepaid freight of $220 was added to
the invoice.
4
Purchased merchandise from Taco Co., $13,650, terms FOB
destination, 2/10, n/30.
6
Issued debit memo to Taco Co. for $4,550 of merchandise returned
from purchase on October 4.
13...
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