tabular summary of assets
(cash + accounts receivable +inventory) =liabilities (accounts payable) + stockholders' equity (common stock + revenue - expenses) i got some of it right but most of it wrong, plead help
Tabular Summary Of Assets Cash Accounts Receivable Inventory Liabilities Accounts Payable Stockholders Equity 1 (49.85 KiB) Viewed 4 times
Tabular Summary Of Assets Cash Accounts Receivable Inventory Liabilities Accounts Payable Stockholders Equity 2 (49.85 KiB) Viewed 4 times
Tabular Summary Of Assets Cash Accounts Receivable Inventory Liabilities Accounts Payable Stockholders Equity 3 (26.04 KiB) Viewed 4 times
Tabular Summary Of Assets Cash Accounts Receivable Inventory Liabilities Accounts Payable Stockholders Equity 4 (39.16 KiB) Viewed 4 times
Tabular Summary Of Assets Cash Accounts Receivable Inventory Liabilities Accounts Payable Stockholders Equity 5 (43.56 KiB) Viewed 4 times
Powell Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 3 6 9 15 17 20 24 26 28 Purchased books on account for $1,040 from Catlin Publishers. Sold books on account to Garfunkel Bookstore for $1,200. The cost of the merchandise sold was $720. Received $40 credit for books returned to Catlin Publishers. Paid Catlin Publishers in full. Received payment in full from Garfunkel Bookstore. Sold books on account to Bell Tower for $1.200. The cost of the merchandise sold was $730. Purchased books on account for $720 from Priceless Book Publishers. Received payment in full from Bell Tower. Paid Priceless Book Publishers in full. Sold books on account to General Bookstore for $1,300. The cost of the merchandise sold was $780. Granted General Bookstore $130 credit for books returned costing $80. 30 Prepare a tabular summary to record the transactions for the month of June for Powell Warehouse using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).)
June 1 9 15 17 8 24 $ Cash 0 O 0 980 1200 D Accts. Rec. 0. 0 0 0 00000 1200 1200 Inv. 1040 720 40 0 0
Liabilities Accts. Pay. 1040 0 0 40 1000 0 10.1 Common Stock 0 0 0 0 0 0 Rev. Stockholders' Equity 0 0 730 $ Retained Earnit Exp.
Common Stock 0 0 10 0 0 0 10. Rev. Stockholders' Equity 0 0 0 730 Retained Earnings Exp. 1000000 40 20 1200 7:30 Accounts receivable Sales revenue Sales returns & allowances Cost of goods sold Bad debt expense Sales reven Sales returns & allowances Accounts receivable Accounts receivable A V
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