Southern Polytechnic State University Operations And Supply Chain Management Assignment Help - A02 Principles

Question - A02 Principles of Accounting I Part A (40 points) Use the following information to complete the partial
worksheet for Bill's Company. Record the appropriate adjusting entries using the data below and
extend the balances over to the adjusted trial balance columns. Merchandise inventory ending $10
Store supplies on hand 3 Depreciation on store equipment 2 Accrued salaries 1 Bill s Company
Partial Worksheet For the Year Ended December 31st, 2012 Account Titles Trial Balance
Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Merchandise Inv. 16 Store
Supplies 10 Store Equipment 20 Accum. Depr. Store Equip. 6 Salaries Payable Income Summary
Salary Expense 10 Depreciation Expense Store Supplies Exp. Part B (15 points ...Read More each for a possible
total of 60 points) The Bixby Co. had the following transactions involving the purchase of
merchandise. Prepare the necessary general journal entries. Any applicable freight costs are prepaid
by the seller. The perpetual inventory method is in use. June 16 Purchased merchandise having a
price of $6,000 from the Shelby Manufacturing Co. on account with credit terms 10, n/30.
Transportation terms F.O.B destination. June 16 Purchased merchandise having a price of $9,000
from the Ajax Supply House on account with credit terms 2/10, n/30. Transportation terms F.O.B
shipping point. The freight costs were $175. June 17 Received the goods from Shelby. June 17
Received the goods from Ajax. June 20 Returned for credit merchandise with an invoice price of $800
to Ajax. June 25 Paid Shelby the amount owed. June 28 Paid Ajax the amount owed. June 30
Returned for cash, merchandise with an invoice price of $400 to Shelby. (1) Prepare the necessary
general journal entry for June 16, Purchased merchandise having a price of $6,000 from the Shelby
Manufacturing Co. on account with credit terms 2/10, n/30. Transportation terms F.O.B destination.
__________________________________________ __________ __________
__________________________________________ __________ __________
__________________________________________ __________ __________ (2) Prepare the
necessary general journal entry for June 17, Received the goods from Shelby.
__________________________________________ __________ __________
__________________________________________ __________ __________
__________________________________________ __________ __________ (3) Prepare the
necessary general journal entry for June 25. __________________________________________
__________ __________ __________________________________________ __________
__________ __________________________________________ __________ __________ (4)
Prepare the necessary general journal entry for June 28.
__________________________________________ __________ __________
__________________________________________ __________ __________
__________________________________________ __________ __________ ...Read Less

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