fill in the below column Sales Journal Chart of Accounts Assets 101 Cash 104 Accounts Receivable 110
Fantastic news! We've Found the answer you've been seeking!
Question:
fill in the below column Sales Journal
Transcribed Image Text:
Chart of Accounts Assets 101 Cash 104 Accounts Receivable 110 Inventory 120 Computer Equipment 125 Vehicle Liabilities 204 Accounts Payable Owner's Equity 300 Sam Smith, Withdrawals 301 Sam Smith, Capital Revenue 400 Sales 402 Sales Discounts 404 Sales Returns and Allowances Expenses 500 Advertising Expense 505 Rent Expense 510 Salaries Expense 515 Supplies Expense 518 Cost of Goods Sold 525 Telephone Expense Below are the transactions for October 2018, for The Brown Company. Owner, Sam Smith has asked you the office manager to record the transactions into the correct journal. He has supplied you with the following journals, General Journal, Sales Journal, Cash Receipts Journal, Purchase Journal and Cash Payments Journal 2 Owner made a cash investment into the company $26,000 2 Purchased merchandise on account from Racks Co., invoice No. 743. Terms 2/10, n/30, $700. 3 Paid this months' rent, $920 to the landlord Shifty Rentals Inc., cheque 202 3 Sold $2.500 of merchandise on account to H. Holand, sales invoice No. 1. terms 1/10. n/30. Cost of goods sold $1,400 4 Purchased merchandise on account from Gary Co., invoice No 819. Terms 3/15, 45, $1.500. 5 Sold $1,200 of merchandise on account to T. Traer, sales invoice No. 2, terms 1/10, n/30. Cost of Goods Sold $550 6 Issued debit memorandum No. 101 to Racks Co. for damaged goods re invoice No. 743,5 300 8 Bought supplies on account from Staples for $100, Invoice # 325, term n/30 10 Paid salaries, $700, cheque 203 10 Sent cheque No 204 to Racks Co. for invoice No. 743 less returns and discount 13 Received cash from H. Holand in payment for October 3 transaction, less the discount 14 Issued credit memo No. 1 to T Traer for $100 for merchandise returned from Oct 5 sale on account Cost of goods returned $25 15 Paid for supplies purchased on October 8, cheque 205 15 Received cash from T. Traer for the amount due, less the returns and discount 17 Sent cheque No. 206 to Gary Co. for invoice No. 819 less discount. 21 Received Bell Co. telephone bill, to be paid later, $50, term n/30 21 Purchased merchandise on account from Racks Co, invoice No. 784. Terms 2/10, 1/30, $1,050 23 Sold $500 merchandise for cash, sales invoice No. 3 Cost of goods sold $250 24 Purchased merchandise from Saw Co. for $1,000 with cheque 207 29 Sold $3,600 of merchandise to C Happy FOB shipping point, Invoice no 4, terms 1/10, n/30. Cost of goods sold $1,800 29 C. Happy was unhappy with some of the goods and retumed $300 debit memo 103. Cost of goods returned $150. 30 C Happy paid her account in full today less retums and discount. 31 Withdrew $400 from the business, cheque 208 31 Puchased new computer system from IBM computer solutions for $7,800, Invoice 6285 Paid cash $6,300 (chq #209) and put the remaining balance on account. Terms n/30. Chart of Accounts Assets 101 Cash 104 Accounts Receivable 110 Inventory 120 Computer Equipment 125 Vehicle Liabilities 204 Accounts Payable Owner's Equity 300 Sam Smith, Withdrawals 301 Sam Smith, Capital Revenue 400 Sales 402 Sales Discounts 404 Sales Returns and Allowances Expenses 500 Advertising Expense 505 Rent Expense 510 Salaries Expense 515 Supplies Expense 518 Cost of Goods Sold 525 Telephone Expense Below are the transactions for October 2018, for The Brown Company. Owner, Sam Smith has asked you the office manager to record the transactions into the correct journal. He has supplied you with the following journals, General Journal, Sales Journal, Cash Receipts Journal, Purchase Journal and Cash Payments Journal 2 Owner made a cash investment into the company $26,000 2 Purchased merchandise on account from Racks Co., invoice No. 743. Terms 2/10, n/30, $700. 3 Paid this months' rent, $920 to the landlord Shifty Rentals Inc., cheque 202 3 Sold $2.500 of merchandise on account to H. Holand, sales invoice No. 1. terms 1/10. n/30. Cost of goods sold $1,400 4 Purchased merchandise on account from Gary Co., invoice No 819. Terms 3/15, 45, $1.500. 5 Sold $1,200 of merchandise on account to T. Traer, sales invoice No. 2, terms 1/10, n/30. Cost of Goods Sold $550 6 Issued debit memorandum No. 101 to Racks Co. for damaged goods re invoice No. 743,5 300 8 Bought supplies on account from Staples for $100, Invoice # 325, term n/30 10 Paid salaries, $700, cheque 203 10 Sent cheque No 204 to Racks Co. for invoice No. 743 less returns and discount 13 Received cash from H. Holand in payment for October 3 transaction, less the discount 14 Issued credit memo No. 1 to T Traer for $100 for merchandise returned from Oct 5 sale on account Cost of goods returned $25 15 Paid for supplies purchased on October 8, cheque 205 15 Received cash from T. Traer for the amount due, less the returns and discount 17 Sent cheque No. 206 to Gary Co. for invoice No. 819 less discount. 21 Received Bell Co. telephone bill, to be paid later, $50, term n/30 21 Purchased merchandise on account from Racks Co, invoice No. 784. Terms 2/10, 1/30, $1,050 23 Sold $500 merchandise for cash, sales invoice No. 3 Cost of goods sold $250 24 Purchased merchandise from Saw Co. for $1,000 with cheque 207 29 Sold $3,600 of merchandise to C Happy FOB shipping point, Invoice no 4, terms 1/10, n/30. Cost of goods sold $1,800 29 C. Happy was unhappy with some of the goods and retumed $300 debit memo 103. Cost of goods returned $150. 30 C Happy paid her account in full today less retums and discount. 31 Withdrew $400 from the business, cheque 208 31 Puchased new computer system from IBM computer solutions for $7,800, Invoice 6285 Paid cash $6,300 (chq #209) and put the remaining balance on account. Terms n/30.
Expert Answer:
Answer rating: 100% (QA)
ANSWER SALES JOURNAL Page COMPANY NAME The Brown Co... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Which statement is not true about motifs and domains? Select one: a. Motifs only have structural significance. b. Different proteins contain different proportions and arrangements of secondary...
-
The following were selected from among the transactions completed by Babcock Company during November of the current year: Nov. 3 Purchased merchandise on account from Moonlight Co., list price...
-
Bill Graham started his career mowing lawns for neighbors while he was in junior high school. Bill worked summers for the local golf course while he was in high school and after he graduated, he...
-
We-B-Busy, Inc. uses job costing and a predetermined overheadrate based onmachine hours (MH). The firm estimated that it would use $240,000of MOH and7,500 MH this year. Data for February:Job 1010 2...
-
A long wall panel 6,200 ft long with a face length of 820 ft is planned for a seam 1,300 ft deep and 16.5 ft thick. Mining is full seam height. Assume UK conditions apply. Find: 1 The maximum...
-
What is the standard temperature lapse rate?
-
Which depreciation method is generally preferable for income tax purposes? Why? a. Straight-line, because it is simplest b. Units-of-production, because it best tracks the assets use c....
-
1. What forms of homeowners insurance are available? Which forms should the Salazars consider? 2. What are the perils against which the home and its contents should be insured? 3. Discuss the types...
-
When f, g, F and G are functions such that lim f(x) = 0, lim F(x) = 2, which, if any, of A. lim F(x)(); 21 B. lim f(x)g(x); 1 C. lim g(x)G(r); 1 lim g(x) = 0, 21 lim G(x) = x0, 1 are NOT...
-
Good Homes Construction Company is about to begin the construction of a large new home. The companys president, Michael Dean, is currently planning the schedule for this project. Michael has...
-
create floor plan/design of a literacy centre at a childcare centre. What might it look like for you? Refer to Chapter 10: developing literacy centers of the Creating Environments for Learning...
-
Fox News won a court case by 'persuasively' arguing that no 'reasonable viewer' takes Tucker Carlson seriously Sonam Sheth Sep 24, 2020, 11:42 PM A federal judge on Thursday dismissed a lawsuit...
-
Suppose Carol's stock price is currently $20 and does not currently pay dividends. In the next 6 months it will either fall to $10 or rise to $40. What is the current value of a European 6-month call...
-
What is the kinetic energy of a 1 0 9. 2 cm thin uniform rod with a mass of 4 78 . 9 g that is rotating about its center at 4 . 7 3 rad / s ? Give your answer in Joules.
-
Spielman Leather, Inc., produces three sizes of sports gloves: small, medium, and large. A glove pattern is first stenciled onto leather in the Pattern Department. The stenciled patterns are then...
-
Demographics of Toronto ontario Canada (brief description of the city i.e. location, population size of police force, any interesting factors that may contribute to youth crime etc.). What is the...
-
Describe at least three advantages of a centralized embedded system over a distributed embedded system. Also, describe at least three disadvantages of a centralized embedded system over a distributed...
-
How many years will it take a $700 balance to grow into $900 in an account earning 5%?
-
Comparative financial statements for Na Pali Coast Company for the years ending December 31, 20-1 and 20-2 are provided. REQUIRED 1. Perform horizontal analysis of the comparative income statement...
-
Lisa Morris and Joyce Laski agreed on September 1 to go into business as partners. According to the agreement, Morris is to contribute $45,000 cash and Laski is to contribute $65,000 cash. Provide a...
-
Two adjusting entries are shown in the following general journal. Post these adjusting entries to the four general ledger accounts. The following account numbers were taken from the chart of...
-
An automobile is modeled as a single-degree-of-freedom system vibrating in the vertical direction. It is driven along a road whose elevation varies sinusoidally. The distance from peak to trough is...
-
If the ground in Fig. 3.57, is subjected to a horizontal harmonic displacement with frequency \(\omega=200 \mathrm{rad} / \mathrm{s}\) and amplitude \(X_{g}=15 \mathrm{~mm}\), find the amplitude of...
-
Derive Eq. (3.74). FT kY (1 1 + (25r) 2)2 + (25r)2. 1/2 (3.74)
Study smarter with the SolutionInn App