(Answered) Question - moeder co uses a sales journal a purchases

Accounting

Question - Moeder Co. uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of November.

Nov. 3 The company purchased $4,000 of merchandise on credit from Hargrave Co., terms n/20.

7 The company sold merchandise costing $1,056 on credit to J. York for $1,160, subject to an $23 sales discount if paid by the end of the month.

9 The company borrowed $2,800 cash by signing a note payable to the bank.

13 J. Emling, the owner, contributed $4,100 cash to the company.

18 The company sold merchandise costing $168 to B. Box for $299 cash.

22 The company paid Hargrave Co. $4,000 cash for the merchandise purchased on November 3.

27 The company received $1,137 cash from J. York in payment of the November 7 purchase.

30 The company paid salaries of $2,000 in cash.

Journalize the November transactions that should be recorded in the cash receipts journal assuming the perpetual inventory system is used.

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92632684
Price:- $25

Verified Expert

Priced at $50 Now at $25, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - x company wants to estimate overhead costs in

Question - X Company wants to estimate overhead costs in March, when production is expected to be 1,400 units. To determine the parameters of its overhead cost function, it used account analysis with the January cost inf ...

Question -a calculate the ending balance of the

Question - (a) Calculate the ending balance of the Manufacturing Overhead account for November. Lawler and Associates, a C.P.A. firm, uses job order costing to capture the costs of its audit jobs. There were no audit job ...

Discussion internal controlsbullimagine that a coworker

Discussion: Internal Controls • Imagine that a coworker wants to circumvent an internal control to steal money from your company. Speculate on two (2) internal controls that your coworker might attempt to circumvent in o ...

Question - on december 31 2017 cheyenne company signed a

Question - On December 31, 2017, Cheyenne Company signed a $1,054,800 note to Ayayai Bank. The market interest rate at that time was 11%. The stated interest rate on the note was 9%, payable annually. The note matures in ...

Question - on october 1 2018 daw inc signed a long-term

Question - On October 1, 2018, DAW Inc. signed a long-term, non-cancellable purchase commitment with a major supplier to purchase raw materials needed for production of the company's product during 2019 for $1,000,000. O ...

Question - shelby has net investment income of 16790 and

Question - Shelby has net investment income of $16,790 and wage income of $72,000. She paid investment interest expense of $17,300. What is Shelby's deduction for investment interest expense?

Question - alpha corp had 15000 of dividends in arrears for

Question - Alpha Corp. had $15,000 of dividends in arrears, for cumulative, non-participating preferred stock as of January 1, 2018.This value of dividends in arrears was for the fiscal years of 2016 & 2017. During the f ...

Question develop a company and determine what it will

Question: Develop a company and determine what it will produce and sell. The requirement for this company is that it be a high-end, special-order type of manufactured product. Complete the following in a Word document of ...

Question - x company estimates the following for its three

Question - X Company estimates the following for its three products, A, B, and C, for 2018: A B C Revenue $47,460 $24,303 $63,666 Total variable costs 29,400 18,224 26,136 Fixed costs in 2018 are expected to be $19,800 ...

Question - what is the present value of 7160 to be received

Question - What is the present value of $7,160 to be received at the end of each of 18 periods, discounted at 5% compound interest?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert