chegg study | Guided C Adjusting Entries Reli: C Reliable Repairs & Se C PR3-3A

Question

chegg study | Guided C Adjusting Entries Reli: C Reliable Repairs & Se C PR3-3A Adjusting Ent New tab pnment tako-ksignmentMaindo imcker ssignnents&takekssigmentsessontocaitor; asigament-takebinprogressifalel ook Calculator urchase- related transactions using perpetual inventory systenm Instructions Chart of Accounts Journal e following selected transactions were completed by Capers Company during October of the current year Purchased marchandise from uk Imports Co., $14,448, terms FoB destination, n/30 merchandise from Hoagie Co., $9,950, terms FOB shlpping point, 2/10, n/eom. Propaid freight of $220 was added to the invoice. Purchased merchandise from Taco Co., $13,650, terms F08 destination, 2/10, n/30. 6 Issued debit memo to Taco Co. for $4,550 of merchandise returned from purchase cn October4 13 Paid Hoagie Co. for invoice of October 3 14 Paid Taco Co for invoice of October 4, less debit merno of October &. 19 Purchased merchandise V 19 Paid freight ot $400 on October 19 purchase from Veggie Co. 20 Purchased merchandise from Caesar Salad Co., $22,000, from Veggie Co., $27,300, terms FOB shipping point, nveom. Jerms FoB destination, 1/10, n/30, 30 Paid Caesar Salad Co. for invoice of October 20. 31 Paid UK Imports Co. for invaice of October 1. 31 paid veggie Co. for invoice of October 19. ournaize the antries to record the transactions of Capers Compary for Octobar. Rafer Next

Explanation / Answer

In the books of Capers Company :

Date Description Debit Credit $ $ Oct 1 Inventory 14,448 Accounts Payable : UK Imports Co. 14,448 Oct 3 Inventory 10,170 Accounts Payable: Hoagie Co. 10,170 Oct 4 Inventory 13,650 Accounts Payable : Taco Company 13,650 Oct 6 Accounts Payable : Taco Company 4,550 Inventory 4,550 Oct 13 Accounts Payable : Hoagie Co. 10,170 Inventory 199 Cash 9,971 Oct 14 Accounts Payable : Taco Company $ ( 13,650 - 4,550) 9,100 Inventory ( $ 9,100 x 2%) 182 Cash 8,918 Oct 19 Inventory 27,300 Accounts Payable : Veggie Co. 27,300 Oct 19 Inventory 400 Cash 400 Oct 20 Inventory 22,000 Accounts Payable : Caesar Salad Co. 22,000 Oct 30 Accounts Payable : Caesar Salad Co. 22,000 Inventory 220 Cash 21,780 Oct 31 Accounts Payable : UK Imports Co. 14,448 Cash 14,448 Oct 31 Accounts Payable : Veggie Co. 27,300 Cash 27,300

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