The following is a list of The Puppy Playground's transactions for the month of November. The...

 

Transcribed Image Text:

The following is a list of The Puppy Playground's transactions for the month of November. The balances in their accounts as of the end of October have been carried forward in the Ledger. Nov. 1, 2021 Nov. 3, 2021 Nov. 5, 2021 Nov. 7, 2021, Nov. 9, 2021 S Nov. 15, 2021 Nov. 17, 2021 Nov. 21, 2021 Nov. 25, 2021 Nov. 29, 2021 Issued additional common stock to new investors. These investors paid $15 per share for 4,000 shares of $10 par value common stock. Paid $25,000 for a small plot of land where the business can relocate when its current lease is up. Declared a cash dividend of $0.05 per share. The date of record is Nov. 15th, and the dividend will be paid on Nov. 25th. (Dividends are paid on all shares outstanding, both the original 5,000 shares and those issued on Nov. 1".) ✓ Paid $3,700 to our dog treat supplier to pay our account off in full and to purchase additional inventory of 4,000 dog treats for $2,500. Purchased additional supplies for $1,600 on account. Date of record for the dividend. Shareholders are identified along with the number of shares they own so that the appropriate dividends can be paid. Held a dog training class and provided $3,025 of services to customers. $2,225 was received in cash on the day of the class. The remaining $800 was provided to a local shelter on account. Sold 3,300 dog treats to customers for $3,300 cash. The Puppy Playground uses the perpetual inventory system, and assigns inventory costs using the First-In, First-Out (FIFO) method. (The inventory carried over from Oct. was 500 units at a total cost of $300.) Paid the cash dividend declared on the 5th to the shareholders. Cash Div Portable Cash Paid $30,375 cash to pay off the Note Payable related to the transaction on Sept. 7th in full. (This includes the principal, interest accrued in prior months, and the interest from the current month.) The following is a list of The Puppy Playground's transactions for the month of November. The balances in their accounts as of the end of October have been carried forward in the Ledger. Nov. 1, 2021 Nov. 3, 2021 Nov. 5, 2021 Nov. 7, 2021, Nov. 9, 2021 S Nov. 15, 2021 Nov. 17, 2021 Nov. 21, 2021 Nov. 25, 2021 Nov. 29, 2021 Issued additional common stock to new investors. These investors paid $15 per share for 4,000 shares of $10 par value common stock. Paid $25,000 for a small plot of land where the business can relocate when its current lease is up. Declared a cash dividend of $0.05 per share. The date of record is Nov. 15th, and the dividend will be paid on Nov. 25th. (Dividends are paid on all shares outstanding, both the original 5,000 shares and those issued on Nov. 1".) ✓ Paid $3,700 to our dog treat supplier to pay our account off in full and to purchase additional inventory of 4,000 dog treats for $2,500. Purchased additional supplies for $1,600 on account. Date of record for the dividend. Shareholders are identified along with the number of shares they own so that the appropriate dividends can be paid. Held a dog training class and provided $3,025 of services to customers. $2,225 was received in cash on the day of the class. The remaining $800 was provided to a local shelter on account. Sold 3,300 dog treats to customers for $3,300 cash. The Puppy Playground uses the perpetual inventory system, and assigns inventory costs using the First-In, First-Out (FIFO) method. (The inventory carried over from Oct. was 500 units at a total cost of $300.) Paid the cash dividend declared on the 5th to the shareholders. Cash Div Portable Cash Paid $30,375 cash to pay off the Note Payable related to the transaction on Sept. 7th in full. (This includes the principal, interest accrued in prior months, and the interest from the current month.)

Answer rating: 100% (QA)

Journal entries for the month of November Date Particulars Debit amount Credit amount 1Nov Cash 6000... View the full answer