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Student Name: Class: Problem 07-05A CHOI ENTERPRISES Sales Journal Inv. 913 914 915 916 917 Date Account Debited Dec. 6 Marge Craig 12 Hanna Seppa 15...

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Student Name: Class: Problem 07-05A CHOI ENTERPRISES Sales Journal Cost of Goods Inv. Trans. A/R Debit Sold Debit Date Account Debited No. No. Sales Credit Inventory Credit Dec. 6 Marge Craig 913 3 12 Hanna Seppa 914 4 15 Bo Brown 915 5 16 Hanna Seppa 916 6 24 Shilo Jones 917 7 31 Totals CHOI ENTERPRISES Purchases Journal Accounts Of ice Other Date of Trans. Payable Purchases Supplies Accounts Date Account Invoice Terms No. Credit Debit Debit Debit Dec. 2 Funk Company 12/2 2/10, n/60 2 5 KK's Supply Co. 12/3 n/10 EOM 3 15 Funk Company 12/15 2/10, n/60 4 15 Cros land Company 12/15 2/10, n/60 5 17 KK's Supply Co. 12/16 n/10 EOM 6 21 Store Equip./KK's Supply Co. 12/21 n/10 EOM 7 26 Cros land Company 12/25 2/10, n/60 8 31 Totals CHOI ENTERPRISES Cash Receipts Journal Sales Ac ounts Other COGS Trans. Cash Discount Recv. Sales Ac ounts Debit Date Ac ount Cr. Explanation No. Debit Debit Credit Credit Credit Inv. Credit Dec. 2 Shilo Jones Invoice 11/23 3 15 Sales Cash sales 4 15 Marge Craig Invoice 12/6 5 22 Hanna Seppa Invoice 12/12 6 25 Bo Brown Invoice 12/15 7 29 Of ice Supplies Sold supplies 8 31 Sales Cash sales 9 31 Totals CHOI ENTERPRISES Cash Disbursements Journal Other Ac ts. Check Ac ount Trans. Cash Inventory Ac ts. Pay. Date No. Payee Debited No. Credit Credit Debit Debit Dec. 2 619 Omni Realty Co. Rent Expense 4 6 620 Fireside Company Fireside Company 5 12 621 Funk Company Funk Company 6 15 622 Jamie Inman Sales Salaries Exp. 7 23 623 Cros land Co. Cros land Co. 8 24 624 Funk Company Funk Company 9 30 625 Ken Choi Ken Choi, Withdr. 10 31 626 Jamie Inman Sales Salaries Exp. 11 31 627 Ac es Elec. Co. Utilities Expense 12 31 Totals CHOI ENTERPRISES General Journal Trans. Date Description No. Debit Credit Dec. 4 Accounts Payable-Fireside Company 2 Inventory 9 Sales Returns and Al owances 3 Accounts Receivable-Marge Craig 17 Accounts Payable-Funk Company 4 Inventory 18 Accounts Payable-KK's Supply Co. 5 Of ice Supplies 20 Sales Returns and Al owances 6 Accounts Receivable-Bo Brown CHOI ENTERPRISES General Ledger Cash Account No. 101 Trans. Date Item no. Debit Credit Balance Nov. 30 Balance Dec. 31 CRJ 31 CDJ Accounts Receivable Account No. 106 Trans. Date Item no. Debit Credit Balance Nov. 30 Balance Dec. 9 GJ3 20 GJ6 31 SJ 31 CRJ Merchandise Inventory Account No. 119 Trans. Date Item no. Debit Credit Balance Nov. 30 Balance Dec. 4 Dec. 17 Dec. 31 CDJ Dec. 31 PJ Dec. 31 SJ Dec. 31 CRJ Of ice Supplies Account No. 124 Trans. Date Item no. Debit Credit Balance Nov. 30 Balance Dec. 18 GJ5 29 CR8 31 PJ6 Store Supplies Account No. 125 Trans. Date Item no. Debit Credit Balance Nov. 30 Balance Store Equipment Account No. 165 Trans. Date Item no. Debit Credit Balance Nov. 30 Balance Dec. 21 PJ7 Accumulated Depr. - Store Equipment Account No. 166 Trans. Date Item no. Debit Credit Balance Nov. 30 Balance Accounts Payable Account No. 201 Trans. Date Item no. Debit Credit Balance Nov. 30 Balance Dec. 4 GJ2 17 GJ4 18 GJ5 31 PJ 31 CDJ Ken Choi, Capital Account No. 308 Trans. Date Item no. Debit Credit Balance Nov. 30 Balance Ken Choi, Withdrawals Account No. 318 Trans. Date Item no. Debit Credit Balance Dec. 30 CD10 Sales Account No. 413 Trans. Date Item no. Debit Credit Balance Dec. 31 SJ 31 CRJ Sales Returns and Al owances Account No. 414 Trans. Date Item no. Debit Credit Balance Dec. 31 GJ3 31 GJ6 Sales Discounts Account No. 415 Trans. Date Item no. Debit Credit Balance Dec. 31 CRJ Cost of Goods Sold Account No. 502 Trans. Date Item no. Debit Credit Balance Dec. 31 CRJ Dec. 31 SJ Sales Salaries Expense Account No. 621 Trans. Date Item no. Debit Credit Balance Dec. 15 CD7 31 CD11 Rent Expense Account No. 640 Trans. Date Item no. Debit Credit Balance Dec. 2 CD4 Utilities Expense Account No. 690 Trans. Date Item no. Debit Credit Balance Dec. 31 CD12 CHOI ENTERPRISES Accounts Receivable Ledger Marge Craig Trans. Date Item no. Debit Credit Balance Dec. 6 SJ3 9 GJ3 15 CR5 Hanna Seppa Trans. Date Item no. Debit Credit Balance Dec. 12 SJ4 16 SJ6 22 CR6 Shilo Jones Trans. Date Item no. Debit Credit Balance Nov. 23 Dec. 2 CR3 24 SJ7 Bo Brown Trans. Date Item no. Debit Credit Balance Dec. 15 SJ5 20 GJ6 25 CR7 CHOI ENTERPRISES Accounts Payable Ledger Fireside Company Trans. Date Item no. Debit Credit Balance Nov. 28 Dec.4 GJ2 6 CD5 KK's Supply Company Trans. Date Item no. Debit Credit Balance Dec. 5 PJ3 17 PJ6 18 GJ5 21 PJ7 Crossland Company Trans. Date Item no. Debit Credit Balance Dec. 15 PJ5 23 CD8 26 PJ8 Funk Company Trans. Date Item no. Debit Credit Balance Dec. 2 PJ2 12 CD6 15 PJ4 17 GJ4 24 CD9 CHOI ENTERPRISES Trial Balance December 31 Debit Credit Cash Accounts receivable Merchandise inventory Of ice supplies Store supplies Store equipment Accumulated depreciation, store equipment Accounts payable Ken Choi, Capital Ken Choi, Withdrawals Sales Sales returns and al owances Sales discounts Cost of goods sold Sales salaries expense Rent expense Utilities expense Totals CHOI ENTERPRISES Schedule of Accounts Receivable December 31 Hanna Seppa Shilo Jones Total accounts receivable CHOI ENTERPRISES Schedule of Accounts Payable December 31 KK's Supply Company Crossland Company Total accounts payable
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Given Data P07-05A: CHOI ENTERPRISES Inv. No. Check Date Description Name or Date No. Terms Amount Dec. 16 Merchandise sold (cost $4,600) Hanna Seppa 916 2/10, n/30 $7,700 17 Received credit memo on returned merch. Funk Company Dec. 15 1,040 17 Purchased office supplies KK's Supply Company Dec. 16 n/10 EOM 615 18 Received credit memo on returned merch. KK's Supply Company Dec. 17 40 20 Issued credit memo on returned merch. Bo Brown Dec. 15 500 21 Purchased store equipment KK's Supply Company Dec. 21 n/10 EOM 6,700 22 Received payment less discount Hanna Seppa Dec. 12 23 Paid invoice less discount Crossland Company Dec. 15 623 24 Sold merchandise on credit (cost $600) Shilo Jones 917 1,200 24 Paid inv. less discount and return Funk Company Dec. 15 624 25 Received payment less discount and return Bo Brown Dec. 15 26 Purchased merchandise and invoice Crossland Company Dec. 25 2/10, n/60 8,100 29 Sold office supplies for cash at cost 50 30 Issued check to owner for personal use Ken Choi 625 3,500 31 Check issued for sales salaries Jamie Inman 626 2,020 31 Issued check for electric bill Access Electric Company 627 710 31 Cash sales for last half of month (cost $11,200) 29,600 Check figure: Trial balance totals $219,408
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