Management Accounting Business Worksheet

f-Test on Chapters 7 – 9
Question 1 of 1
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– I 100
On December 1, 2022, Cullumber Distributing Company had the
following account balances.
Debit
Credit
Cash
$7,500
Accumulated Depreciation-Equipment
$2,420
Accounts Receivable
5,200
Accounts Payable
5,000
Inventory
11,500
Salaries and Wages Payable
1,100
(I},,pplies
1,400
Owner’s Capital
41,280
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Test on Chapters 7 – 9
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Supplies
1,400
Equipment
24,200
$49,800
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Owner’s Capital
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41,280
$49,800
During December, the company completed the following summary
transactions.
ec.
L
Paid $2,000 for sal.riil, .nd M’il8il’ d, lil ilAlployees, of which $900
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Test on Chapters 7 – 9
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transactions.
Dec.
6
Paid $2,000 for salaries and wages due employees, of which $900
is for December and $1,100 is for November salaries and wages
payable.
8
Received $2,000 cash from customers in payment of account (no
discount allowed).
Sold merchandise tac casb $6 6QQ Ibe cost of the merchandise
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Test on Chapters 7 – 9
Question 1 of 1
13
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– I 100
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Purchased merchandise on account from Ivanhoe Co. $9,500,
terms 2/10, n/30.
15
Purchased supplies for cash $1,700.
18
Sold merchandise on account $12,800, terms 3/10, n/30. The cost
of the merchandise sold was $8,000.
20
Paid salaries and wages $1,900.
Paid Ivanhoe Co. in full, less djscoupt.
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Test on Chapters 7 – 9
Question 1 of 1
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Salaries and wages incurred but not yet paid $700.
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Received collections in full, less discounts, from customers billed
on December 18.
Adjustment data:
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Test on Chapters 7 – 9
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Adjustment data:
1.
Salaries and wages incurred but not yet paid $700.
2.
Depreciation $220 per month.
3.
Supplies on hand $1,700.
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Test on Chapters 7 – 9
Question 1 of 1
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– I 100
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Journalize the December transactions using a perpetual inventory
system. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is required,
select “No Entry” for the account titles and enter O for the amounts.
Record journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
r