The following purchase transactions occurred during February for Crystal Catering Service: Feb. 11. Purchased party supplies for
Question:
Feb. 11. Purchased party supplies for $440, on account from Celebration Supplies Inc.
14. Purchased party supplies for $290, on account from Fun 4 All Supplies Inc.
27. Purchased office furniture for $2,350, on account from Office Space Inc.
Record these transactions in the following purchases journal format:
Transcribed Image Text:
PURCHASES JOURNAL Accounts Payable Party Supplies Other Accounts Post. Post. Account Credited Amount Dr. Ref. Date Ref. Cr. Dr.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (6 reviews)
PURCHASES JOURNAL Date Account Credited Post Ref ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial & Managerial Accounting
ISBN: 978-1285868776
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Business questions
-
The following purchase transactions occurred during October for Rehoboth Inc.:Oct. 4. Purchased office supplies for $105, on account from Office-to-Go Inc.16. Purchased office equipment for $2,460,...
-
The following purchase transactions occurred during May for Amy's Catering Service: May 11. Purchased party supplies for $420, on account from Party Zone Supplies Inc. 19. Purchased party supplies...
-
The following purchase transactions occurred during August for Elegance Catering Service: Aug. 11. Purchased party supplies for $390, on account from Party Zone Supplies Inc. 14. Purchased party...
-
Graph the exponential equation. Then state the inverse function in logarithmic form and graph it. Then state the domain and range of each function. = ()* = to Domain: Range: Inverse: Domain: Range:...
-
(a) Graph the first 10 terms of the arithmetic sequence an = 2 + 3n. (b) Graph the equation of the line y = 3x + 2. (c) Discuss any differences between the graph of an = 2 + 3n and the graph of y =...
-
The magnetic stripes that were laid down on the Pacific Ocean seafloor are wider than the magnetic stripes laid down over the same time period on the Atlantic Ocean seafloor. What does this tell you...
-
When two gases A and B are forced to diffuse through a third gas C, there is a tendency of A and \(\mathrm{B}\) to separate because of the difference in their diffusivities in gas \(\mathrm{C}\)....
-
Three different plans for financing a $60,000,000 corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount,...
-
Respond to the following based on your reading. 11. What are cash equivalents, and why are they included with cash on a statement of cash flows? 12. What general guidelines can you provide for...
-
A railway wagon weighing 50 kN and moving with a speed of 8 km per hour has to be stopped by four buffer springs in which the maximum compression allowed is 220 mm. Find the number of turns in each...
-
From the list below, identify the accounts that should be closed to Income Summary at the end of the fiscal year: a. Accounts Payable b. Accumulated DepreciationEquipment c. Depreciation...
-
When Chinese automakers recently began exporting cars, rather than focusing on developed nations in the West, they are shipping autos to emerging markets in countries such as Algeria, Russia, Chile,...
-
How much insulin (in cc) would be given for the following doses? 35 units of insulin from a vial marked U40. Use proportions to solve the problem.
-
Alcatel-Lucent put option and a call option with an exercise price of 1 and 3 months to expiration sell for 0.28 and 0.11, respectively. If the risk-free rate is 2.5 per cent per year, compounded...
-
Why do you think Power Assets really reduced their payables period? Is their explanation that it would control costs and optimize cash flow sensible? Will there be any direct or indirect cash...
-
Over a 30-year period an asset had an arithmetic return of 12 per cent and a geometric return of 10 per cent. Using Blumes formula, what is your best estimate of the future annual returns over 5...
-
An equity has had returns of 10 per cent, 15 per cent, 20 per cent, 12 per cent, 2 per cent, and 5 per cent over the last 6 years. What are its arithmetic and geometric returns?
-
Konyagi plc has an average daily cash balance of 10,500. Total cash needed for the year is 65,000. The interest rate is 3 per cent, and replenishing the cash costs 17 each time. What are the...
-
The strong man is pulled in the three situations shown. Rank, from least to greatest, the amount of tension in the rope in his right hand (the one attached to the tree in B and C). A Itd
-
I frequently use NY Times and CNN and am aware of Fox News but I never use it. I visit these sites, NY Times and CNN, a few times a week whenever I have to research something or see something on...
-
(a) What is the most important output of the accounting cycle? (b) Do all companies have an accounting cycle? Explain.
-
(a) What is the most important output of the accounting cycle? (b) Do all companies have an accounting cycle? Explain.
-
(a) What is the most important output of the accounting cycle? (b) Do all companies have an accounting cycle? Explain.
-
Sunland Corp. designs and builds custom harvesting equipment for logging companies across Canada. The company, which is publicly traded, has a May 31 year end. On February 18, 2024, Sunland signed a...
-
Kubin Company's relevant range of production is 18,000 to 22,000 units. When it produces and sells 20,000 units, its average costs per unit are as follows: Average Cost per Unit Fixed administrative...
-
The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. LOS GATOS CORPORATION Balance Sheet At...
Study smarter with the SolutionInn App