Ligare Company had the following transactions during April. 1. Sold merchandise on account. 2. Purchased merchandise on
Question:
1. Sold merchandise on account.
2. Purchased merchandise on account.
3. Collected cash from a sale to Estes Company.
4. Recorded accrued interest on a note payable.
5. Paid $2,000 for supplies.
Identify the journal in which each of the transactions above is recorded.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
1 Sold merchandise on account Sales Journal 2 Purchased ...View the full answer
Answered By
Albert Kinara
i am an expert research writer having worked with various online platform for a long time. i also work as a lecturer in business in several universities and college part time and assure you well researched and articulate papers. i have written excellent academic papers for over 5 year and have an almost similar experience experting many clients in different units. bachelor of commerce (finance)
masters in strategic management
phd finance
4.60+
26+ Reviews
48+ Question Solved
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Identify the journal in which each of the following transactions is recorded. 1. Cash sales 2. Owner withdrawal of cash 3. Cash purchase of land 4. Credit sales 5. Purchase of merchandise on account...
-
A company had the following transactions during its most recent fiscal period: 1. Paid rent of $39,000 during the year which included $3,000 for the first month of next year. 2. Paid $11,700 of...
-
A company had the following transactions during its most recent fiscal period: 1. A total of 5,000 shares were issued at $30 per share. 2. Equipment worth $120,000 was purchased for $80,000 cash and...
-
Provide a detailed description of the JDBC three-tier model and its function.
-
In the fall, Jay Thompson decided to live in a university dormitory. He signed a dorm contract under which he was obligated to pay the room rent for the full college year. One clause stated that if...
-
A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst. The refrigerator offers the teenagers many alternatives-soft drinks, fruit...
-
Define dynamic object types. Besides the example in this chapter, can you think of other situations where we would encounter them?
-
The Leaning Tower of Pisa is 55m tall and about 7.0 m in diameter. The top is 4.5 m off center. Is the tower in stable equilibrium? If so, how much farther can it lean before it becomes unstable?...
-
. Suppose your neighbor earned wages of $275,000 , received $1580 in interest from a savings account, and contributed $3800 to a tax-deferred retirement plan. He is entitled to a personal exemption...
-
The following adjusted revenue and expense accounts appeared in the accounting records of Pashi, Inc., an accrual basis taxpayer, for the year ended December 31, Year 2. Revenues Net sales $3,000,000...
-
Presented below is information related to Koniar Company for its first month of operations. Determine the balances that appear in the accounts payable subsidiary ledger. What Accounts Payable balance...
-
Kimani Company uses both special journals and a general journal as described in this appendix. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in...
-
Suppose the only good you ever consume is Nestle's Crunch bars. What is your income elasticity of demand for Nestle's Crunch bars? What is your price elasticity of demand for Nestle's Crunch bars?
-
What are the five account types used in financial accounting?
-
The category of persons who would be most likely to be harmed by an increase in the rate of inflation is: A. homeowners with fixed 30-year mortgages. B. retirees relying on a fixed annuity payment....
-
What is the difference in goals between investor-owned and not for- profit businesses?
-
The discouraged worker category is defined to include people who: A. are overqualified for their jobs. B. could look for a job but choose not to. C. currently look for work without finding it.
-
Why are the notes and supplementary information sections important parts of the financial statements?
-
Find the work done by the force F = (3, 2, 5) in moving a particle from a point P to a point Q having position vectors (1, 4, 1) and (2, 3, 1) respectively.
-
Identify the Critical Infrastructure Physical Protection System Plan.
-
At the end of its first month of operations, Watson Answering Service Inc. has the following unadjusted trial balance. Other data: 1. Insurance expires at the rate of $200 per month. 2. $1,000 of...
-
The following account balances relate to the stockholders equity accounts of GoreCorp. at year-end. A small stock dividend was declared and issued in 2010. The market value of the shares was $10,500....
-
The income statement of Elbert Company is presented here. Additional information:1. Accounts receivable increased $250,000 during the year, and inventory decreased $500,000.2. Prepaid expenses...
-
Data for Elbert Company are presented in P17-3A. Instructions Prepare the operating activities section of the statement of cash flows using the direct method.
-
Solve the triangle shown to the right. Round the lengths of sides to the nearest tenth and angles to the nearest degree. 96 b=5 a=7 B A C C9.0 (Do not round until the final answer. Then round to the...
-
Hello, need help with making the program MealData.txt Avocado Egg Rolls 6.00 Parmesan-crusted Chicken 19.75 Strawberry Shortcake Pizookie 8.25 BBQ Tri-Tip Sliders 12.95 Spicy Peanut Chicken with Soba...
-
Assume you have been appointed to develop ethnic and multicultural marketing for a small chain of household appliance stores in large metropolitan area. There are several large concentrations of...
Study smarter with the SolutionInn App