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论文作者:留学生论文论文属性:作业 Assignment登出时间:2010-05-19编辑:steelbeezxp点击率:4910
论文字数:600论文编号:org201005191727004840语种:英语 English地区:丹麦价格:免费论文
关键词:Financial AccountingAssignment
QUESTION 1
Below is the Journalize the September transactions for Snow Supply
September 4th Debt Inventory RM1250
Credit Account Payable RM1250
September 6th Debt Account Payable RM150
Credit Inventory RM150
September 9th Debt Account Receivable RM1050
Credit Sales RM1050
Debt Cost of sales RM750留学生作业代写
Credit Inventory RM750
September 13th Debt Account Receivable RM525
Credit Sales RM525
Debt Cost of sales RM375
Credit Inventory RM375
September 14th Debt Account Payable RM1100
Credit Cash at bank RM1078
Discount Received RM22
QUESTION 2
Closing entries for Tolan Company
Debt (RM) Credit (RM)
1. Sales 510,000
Income summary 510,000
(To close sales to income summary)
2. Interest revenue 25,000
Income summary 25,000
(To close revenue to income summary)
3. Income summary 470,000
Sales return & Allowance 20,000
Sales discounts 7,000Assignment
Cost of good sold 337,000
Advertising expenses 15,000
Interest expenses 19,000
Store salaries expenses 45,000
Utilities expenses 18,000
Depreciation expenses 7,000
Freight-out 2,000
(To close expenses to income summary)
4. Income summary 65,000
Tolan, capital (510,000 + 25,000 – 470,000) 65,000
(To close the net income to capital)
5. Tolan, Capital 42,000
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