Chapter 5 homework

Chapter 5 homework - Accounting 151 Section 16 Patrick...

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Accounting 151 Section 16 Patrick Leblond 09/28/06 Chapter 5 Problems E3: a) Apr. 5 Merchandise Inventory 22,000 Accounts Payable 22,000 Apr. 6 Merchandise Inventory 900 Cash 900 Apr. 7 Equipment 26,000 Accounts Payable 26,000 Apr. 8 Accounts Payable 3,600 Merchandise Inventory 3,600 Apr. 15 Accounts Payable 22,000 Cash 21,560 Sales Discount 440 b) May. 4 Accounts Payable 22,000 Cash 22,000 E4: a) Jun. 10 Merchandise Inventory 6,000 Accounts Payable 6,000 Jun. 11 Merchandise Inventory 400 Cash 400 Jun. 12 Accounts Payable 500 Merchandise Inventory 500 Jun. 19 Accounts Payable 6,000 Cash 5,820 Sales Discount 180 b) Jun. 10 Accounts Receivable 6,000 Sales 6,000 Jun. 10 Cost of Goods Sold 3,000 Merchandise Inventory 3,000 Jun. 12 Sales Returns and Allowances 500 Accounts Receivable 500
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Accounting 151 Section 16 Patrick Leblond 09/28/06 Jun. 12 Merchandise Inventory 240 Cost of Goods Sold 240 Jun. 12 Merchandise Inventory 240 Cost of Goods Sold 240 E7: a) King Company : Sales Return = sales – net sales = 90,000 – 81,000 = $9,000
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Chapter 5 homework - Accounting 151 Section 16 Patrick...

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