Question

Name: Date: PAULA'S BOUTIQUE This Mini Practice Set aids in putting the pieces of recording transactions for a merchandising company together. In this project you are the bookkeeper and have the responsibility of journalizing sales, sales returns, purchases, purchase returns, cash receipts, and cash payments, as well as posting and recording to the appropriate ledger accounts, and preparing a trial balance on the first two columns of a ten-column worksheet. The following is the Chart of Accounts for Paula's Boutique: PAULA'S BOUTIQUE CHART OF ACCOUNTS Assets 110 Cash 111 Petty Cash 112 Accounts Receivable 114 Merchandise Inventory 116 Prepaid Rent 120 Delivery Truck 121 Accumulated Depreciation, Truck Revenue 410 Sales 411 Sales Returns and Allowances 414 Sales Discount 416 Rental Income Cost of Goods Sold 510 Purchases 512 Purchase Returns and Allowances 514 Purchase Discount Liabilities 210 Accounts Payable 211 State Sales Tax Payable Owner's Equity 310 Paula Miller, Capital 311 Paula Miller, Withdrawals 330 Income Summary Expenses 610 Cleaning Expense 611 Depreciation Expense, Truck 612 Rent Expense 613 Postage Expense 614 Delivery Expense 615 Miscellaneous Expense The post-closing trial balance for February 28, 2012, appears on the next page. The balances in the subsidiary ledgers as of February 28, 2012 appear on the next page. All terms of sale are 2/10, 1/30. There is a 10% sales tax on all sales. Debit memo Accounts payable (venctor) redit memo- Accounts Receivable (customer)
Could you please help me journalize these transactions. Thank you

Answer 1

I Date Month March Amount ($) - Account Title/Explanation Ref Dy sy Date U Purchases Ale--. DP 13 13,200 To Jones Co ... 14,700 CBeing goods purchased from Jones Co) Jones to Alc....Dr 14 3,400 To Purchase returns A[c.. (Being goods returned to Jones Co2 3.400 Delivery Expense Ale -- Dy - 12 To Petty cash Alc.. (Being the delivery expense paid through petty cash) Cash Alc... Dr 56,100 sales tax Altro-Dr To sales Ale... 51,000 To sales tax. Ale:{payable) 5.100 (Being sales made in cash and sales tax @ 10%) Sales tax payable Ale Dy 10.540 to cash Aloe 10.540 Being sales tax payable from teb Saler paid) -

Paula Miller withdrawals Alc... Dy 195 To Cash Alc... (Being cash withdrawal by Paula Miller) 15 Bing Co Alc.... Dr 6,050 TO Sales Alca. __5,500 To sales tax payable Alc.. . 5,50 CBeing Sales made to Bengco and sales tax payable @ 10%) dan dan Purchases Alcc.. Dr__ 29,700 To Moe's Garage _29.700 (Being goods purchased from Moe's Garage) Ronald Co Alc.... Dr 6,160 To sales Ale... 5.600 To sales tax payable Alc ... - 5,60 (Being merchandise sold to Ronald Co and Sales tax payable @ 10:22 Jones Co Alc.... Dr_ 141300 To cash Ale.. 14,300 (Being cash paid to Jones ce for the balance due) Scanned w CamSc

Bing Co Alc... Dr 3,080 TO Sales Alc . 2,800 To sales tax payable Ale..._ 2480 (Being sales made to Bingo and sales tax payable @ 1 Purchases Alc... Dr 1,800 To cash. Ale.. 1,800 (Being merchandise purchased you cash) Postage Expense Alc... Dr 5 1 To Petty cash Ale... (Being Portage expense paid through Petty cash) March 22 Cash Alc... or 6,160 w To Ronald co Alc. 6,160 - (Being amount paid by Ronald in cash) March 16 cash Alc... Dr 6,000 To Bing to Alc.. 6,010 (Being amount paid by Bing co in cash) CamScanner

Purchases. Ale... Dy 10,620 To Blew Co 10,620 (Being purchased merchandise from Blew Co) C Blew to Alc... Dr 20,790 To sales Alc.. __ 18.900 TO sales tax payable Alc. 1,890. (Being Sales from bo Blew.co and sales tax calculated @ 10%:) Purchases Alc... Dr 15,600 To Morris Co Alc (Being purchased merchandise from 15.600 Morris 60) Petty cash Alc... Dr 17 To cash Alco- (Being petty cash fund replenited with 1982 Scanned with CamScanner