Return to Blackboard Kimmel, Survey of Accounting, 1e, for Central Now Mexico Co

Question

Return to Blackboard Kimmel, Survey of Accounting, 1e, for Central Now Mexico Community College Home Read, Study & Practice Gradebook ORION Exercise 6-1 This information relates to Oriole Co. Chapter o Homework On Apri 3. purchased marchandise from Ivanhce Company for $25,800 on xemise 6-3 Exardee E-8 accunt 2. On April 7, purchased equipment on account for s32,g00. 2. On April 8, returned $3,600 of April 5 merchandize to Ivanhoe Company. 4. On April 15, paid the emount due to ivenhoe Company in full Brablem 5-1 Prepare a tabular summary to record the transections listed above for Rice Co.using a perpetuel inventory system. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Reviow Result Stockholders' Equity Retained Earnings Cash + Equipment Ats. Pay.+ Exp. Stock Rev April 5 15 Version 4.24.3.1

Explanation / Answer

Tabular summary :

Assets = Liabilities + Stockholder's equity Retained earnings Cash + Inv. + Equipment = Account pay. + Common stock + Rev. - Exp. Apr 5 +26800 +26800 Apr 7 +32800 +32800 Apr 8 -3600 -3600 Apr 15 -23200 -23200

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