{"id":47899,"date":"2022-04-02T08:47:25","date_gmt":"2022-04-02T08:47:25","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/acct-101-problems-accounting-homework-help\/"},"modified":"2022-04-02T08:47:25","modified_gmt":"2022-04-02T08:47:25","slug":"acct-101-problems-accounting-homework-help","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/acct-101-problems-accounting-homework-help\/","title":{"rendered":"Acct 101 problems | Accounting homework help"},"content":{"rendered":"
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Problem 1 (16 points)<\/span>
The Woodview Company uses a sales journal, purchases journal, cash receipts journal, cash <\/span>disbursements journal, and general journal. They use the perpetual method. The following <\/span>transactions occurred during the current month of December:<\/span><\/p>\n

Record the above transactions into the appropriate journals shown below.<\/span><\/p>\n

Problem 2 (21 points)<\/span>
A company established a petty cash fund of $100 on September 1. On September 10, the petty <\/span>cash fund was replenished when there was $16 remaining and there were petty cash receipts <\/span>for: office supplies, $27; transportation-in on inventory purchased, $32; and postage, $22. On <\/span>September 15, the petty cash fund was increased to $125 in total. Record the above <\/span>transactions in general journal form.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Problem 3 (17 points)<\/span>
The following information is available for the Avisa Company for the month of November:<\/span>
a. On November 30, after all transactions have been recorded, the balance in the company’s <\/span>Cash account has a balance of $27,202.<\/span>
b. The company’s bank statement shows a balance on November 30 of $29,279.<\/span>
c. Outstanding checks at November 30 include check #3030 in the amount of $1,525 and check <\/span>#3556 in the amount of $1,459.<\/span>
d. A credit memo included with the bank statement indicates that the bank collected $780 on a <\/span>noninterest-bearing note receivable for Avisa. The bank deducted a $10 collection fee, and <\/span>credited the remainder of $770 to Avisa’s account.<\/span>
e. A debit memo included with the bank statement shows a $67 NSF check from a customer, J. <\/span>Brown.<\/span>
f. A deposit placed in the bank’s night depository on November 30 totaled $1,675, and did not <\/span>appear on the bank statement.<\/span>
g. Examination of the checks on the bank statement with the entries in the accounting records <\/span>reveals that check #3445 for the payment of an account payable was correctly written for <\/span>$2,450, but was recorded in the accounting records as $2,540.<\/span>
h. Included with the bank statement was a debit memorandum in the amount of $25 for bank <\/span>service charges. It has not been recorded on the company’s books. <\/span><\/p>\n

\u00a0<\/span><\/p>\n

Problem 4 (7 points)<\/span>
A company allows its customers to use bank credit cards to charge purchases. When <\/span>customers use the credit cards, the net amount is deposited in the company’s checking account.<\/span>
The company also is charged a 2.5% service charge for these credit card sales. Assume that on <\/span>April 13, the company sold $25,000 worth of merchandise to customers who used credit cards.<\/span>
Prepare the company’s journal entry to record the credit card sales for April 13 assuming the <\/span>company deposited the receipts that same day.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Problem 1 (16 points)The Woodview Company uses a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. They use the perpetual method. The following transactions occurred during the current month of December: Record the above transactions into the appropriate journals shown below. Problem 2 (21 points)A company established a petty cash […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-47899","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/47899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=47899"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/47899\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=47899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=47899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=47899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}