Question: (jasim- 7-1a) Problem 7-1A (Part Level Submission) Kozma Companys chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable

(jasim- 7-1a)

Problem 7-1A (Part Level Submission)

Kozma Companys chart of accounts includes the following selected accounts.
101 Cash 401 Sales Revenue
112 Accounts Receivable 414 Sales Discounts
120 Inventory 505 Cost of Goods Sold
301 Owners Capital
On April 1, the accounts receivable ledger of Kozma Company showed the following balances: Morrow $1,550, Rose $1,230, Jennings Co. $2,880, and Dent $2,410. The April transactions involving the receipt of cash were as follows.
Apr. 1 The owner, T. Kozma, invested additional cash in the business $7,120.
4 Received check for payment of account from Dent less 2% cash discount.
5 Received check for $880 in payment of invoice no. 307 from Jennings Co.
8 Made cash sales of merchandise totaling $7,220. The cost of the merchandise sold was $4,332.
10 Received check for $595 in payment of invoice no. 309 from Morrow.
11 Received cash refund from a supplier for damaged merchandise $745.
23 Received check for $1,180 in payment of invoice no. 310 from Jennings Co.
29 Received check for payment of account from Rose (no cash discount allowed).

(a)

Journalize the transactions above in a six-column cash receipts journal and cross-foot the journal. (Record entries in the order displayed in the problem statement. Round answers to 0 decimal places, e.g. 5,275.)

Cash Receipts Journal

CR1

Date

Account Credited

Ref.

Cash Dr.

Sales Discounts Dr.

Accounts Receivable Cr.

Sales Revenue Cr.

Other Accounts Cr.

Cost of Goods Sold Dr. Inventory Cr.

Apr. 1Apr. 4Apr. 5Apr. 8Apr. 10Apr. 11Apr. 23Apr. 29

DentRoseInventoryOwner's CapitalJennings Co.Morrow

 301

Apr. 1Apr. 4Apr. 5Apr. 8Apr. 10Apr. 11Apr. 23Apr. 29

DentRoseInventoryOwner's CapitalJennings Co.Morrow

Apr. 1Apr. 4Apr. 5Apr. 8Apr. 10Apr. 11Apr. 23Apr. 29

DentRoseInventoryOwner's CapitalJennings Co.Morrow

Apr. 1Apr. 4Apr. 5Apr. 8Apr. 10Apr. 11Apr. 23Apr. 29

DentRoseInventoryOwner's CapitalJennings Co.Morrow

Apr. 1Apr. 4Apr. 5Apr. 8Apr. 10Apr. 11Apr. 23Apr. 29

DentRoseInventoryOwner's CapitalJennings Co.Morrow

Apr. 1Apr. 4Apr. 5Apr. 8Apr. 10Apr. 11Apr. 23Apr. 29

DentRoseInventoryOwner's CapitalJennings Co.Morrow

 120

Apr. 1Apr. 4Apr. 5Apr. 8Apr. 10Apr. 11Apr. 23Apr. 29

DentRoseInventoryOwner's CapitalJennings Co.Morrow

Apr. 1Apr. 4Apr. 5Apr. 8Apr. 10Apr. 11Apr. 23Apr. 29

DentRoseInventoryOwner's CapitalJennings Co.Morrow

(101)

(414)

(112)

(401)

(X)

(505)(120)

Click if you would like to Show Work for this question:

Open Show Work

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output Actual...

Q:

Kozma Companys chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of Goods Sold 301 Owners...

Q:

P7-1A River Company's chart of accounts includes the following selected accounts 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of Goods Sold 301...

Q:

Accounting 100 Crane Company's chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of Goods Sold...

Q:

PROBLEMS: SET AS P7-1A Kozma Company's chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of...

Q:

please answer all the question. Visit the book's compan the Student Companion site to uccess Exercises: Set B and PROBLEMS: SET A P7-1A Kozma Company's chart of accounts includes the following...

Q:

Question 7 Pharoah Companys chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of Goods Sold 301...

Q:

Kozma Companys chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of Goods Sold 301 Owners...

Q:

Kozma Companys chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of Goods Sold 301 Owners...

Q:

Can someone figure this out for me, I do not know what I am doing wrong. Crane Company's chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable...

Q:

Oriole Company's chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of Goods Sold 301 Owner's...

Q:

Read the article "Time Management is About More Than Life Hacks" - Summarize the main ideas of the article - Reflect on your abilities or level of that particular skill and how you have implemented...

Q:

If you cant walk to outer space, can you at least walk halfway? Using the law of atmospheres from Problem 43, we find that the average height of a molecule in the Earths atmosphere is given by

Q:

( a ) Draw the Huffman tree based on the given frequency table. Keep the order of characters unchanged ( left to right ) ( b ) Now decode the following message: 1 1 0 1 0 0 1 0 1 0 1 0 1 1 1 0 0 0 1...

Q:

P-1) (100 Pts.) A chemical manufacturing company (CMC) has a contract for the procurement of the neccssaly chemicals from four suppliers. The chemicals purchased from Supplier A are priced at $20...

Q:

3. What techniques do people use to assert power in communication interactions?

Q:

1. How do definitions of culture influence peoples perspectives on intercultural communication?

Q:

What is human nature?