SF - SOLUTION Problem 4-1

SF - SOLUTION Problem 4-1 - Problem 4-1 Solution OverPriced...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Date Account Debit Credit Feb. 01 3,000 Cash - Big Bank 3,000 Pay rent Feb. 04 Cash - Big Bank 53,000 53,000 10,000 Inventory 10,000 Sale for cash Feb. 07 13,000 Cash - Little Bank 13,000 Pay wages Feb. 15 Accounts Receivable 75,000 75,000 14,000 Inventory 14,000 Sale on account Feb. 18 Cash - Little Bank 30,000 Accounts Receivable 70,000 100,000 21,000 Inventory 21,000 Sale for cash and on account Feb. 22 Inventory 14,000 Cash - Big Bank 14,000 Purchase inventory Feb. 27 23,000 Cash - Little Bank 23,000 Pay wages Feb. 28 375 Interest Payable - Big Bank 375 Interest due big bank for February Feb. 28 200 Interest Payable - Little Bank 200 Interest due little bank for February Problem 4-1 Solution -- OverPriced Jeans Revenue and Expense Accounts Rent Expense Retained Earnings Sales Revenue Retained Earnings Cost of Goods Sold Retained Earnings Wages Expense Retained Earnings Sales Revenue Retained Earnings Cost of Goods Sold Retained Earnings Sales Revenue Retained Earnings Cost of Goods Sold
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/07/2012 for the course ACCT 225 taught by Professor Canace during the Spring '08 term at South Carolina.

Page1 / 6

SF - SOLUTION Problem 4-1 - Problem 4-1 Solution OverPriced...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online