paid 50 to owner for personal use
Download
Skip this Video
Download Presentation
Paid $50 to owner for personal use

Loading in 2 Seconds...

play fullscreen
1 / 29

Paid $50 to owner for personal use - PowerPoint PPT Presentation


  • 70 Views
  • Uploaded on

Paid $50 to owner for personal use. Hauber Drawing Cash 50 50. Paid $75 for supplies. Supplies 75. Cash 75. Bought $40 of supplies on account. Supplies 40. Accounts Payable 40. Established $200 petty cash fund. Petty Cash 200.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Paid $50 to owner for personal use' - luigi


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
paid 50 to owner for personal use
Paid $50 to owner for personal use

Hauber Drawing Cash

50 50

paid 75 for supplies
Paid $75 for supplies

Supplies

75

Cash

75

bought 40 of supplies on account
Bought $40 of supplies on account

Supplies

40

Accounts Payable

40

adjust supplies by 30
Adjust supplies by $30

Supplies Expense

30

Supplies

30

close sales with 2000 balance
Close sales with $2000 balance

Sales

2000

Income Summary

2000

close rent expense with 700 balance
Close rent expense with $700 balance

Income Summary

700

Rent Expense

700

close income summary with a net income of 5000
Close income summary with a net income of $5000

Hauber Capital

5000

Income Summary

5000

close hauber drawing with 300 balance
Close Hauber drawing with $300 balance
  • Hauber Capital

300

  • Hauber Drawing

300

unit 2
Unit 2

Purchased $600 worth of merchandise on account

Purchases

600

Accounts Payable/Vendor Name

600

paid cash 650 for merchandise
Paid cash $650 for merchandise

Purchases

650

Cash

650

returned 400 worth of merchandise on account
Returned $400 worth of merchandise on account

Accounts Payable

400

  • Purchases Returns and Allowance

400

paid on account 400 with a discount 40
Paid on account ($400) with a discount ($40)

AP/Vendor Cash Purchases Discount

360 40

400

sold merchandise 1000 on account with tax 70
Sold merchandise ($1000) on account with tax ($70)

AR/Customer Sales Sales Tax Payable

1070 1000 70

recorded cash and credit card sales 2000 with tax 140
Recorded cash and credit card sales ($2000) with tax ($140)

Cash Sales Sales Tax Payable

2140 2000 140

paid cash to replenish petty cash fund supplies 20 and advertising 25
Paid cash to replenish petty cash fund: supplies $20 and advertising $25

Supplies Advertising Expense Cash

20 25 45

granted credit to our customer for merchandise 300 returned plus tax 21
Granted credit to our customer for merchandise ($300) returned plus tax ($21)

Sales Returns

and allowance Sales Tax Payable AR/Customer

300 21 321

received cash on account 520 with a discount 20
Received cash on account ($520) with a discount ($20)

Cash Sales Discount AR/Customer

500 20 520

declared a 5000 dividend
Declared a $5000 dividend

Dividends

5000

Dividends Payable

5000

paid previous dividend declared
Paid previous dividend declared

Dividends Payable

5000

Cash

5000

adjust merchandise inventory that went down by 10 000
Adjust merchandise inventory that went down by $10,000

Income Summary

10,000

Merchandise Inventory

10,000

adjust uncollectible accounts by 1200
Adjust uncollectible accounts by $1200

Uncollectible Accounts Expense

1200

Allowance for Uncollectible

1200

close purchases discount with a 140 balance
Close purchases discount with a $140 balance

Purchases Discount

140

Income Summary

140

close sales returns and allowance with 200 balance
Close Sales returns and allowance with $200 balance

Income Summary

200

Sales Returns and Allowance

200

close income summary with a net income 25 000
Close income summary with a net income ($25,000)

Income Summary

25,000

Retained Earnings

25,000

close dividends with 5000 balance
Close Dividends with $5000 balance

Retained Earnings

5000

Dividends

5000

slide27
Paid the Payroll ($2000) less deductions: Social Security Tax($100) Medicare Tax($100) Employee Income Tax($100)

Salary Expense SSTP MTP

  • 100 100

EITP Cash

100 1700

slide28
Record the employer’s income taxes: Social Security Tax($100) Medicare Tax($100) Federal Unemployment Tax($25) State Unemployment Tax($75)

Payroll Tax Expense SSTP MTP

  • 100 100

FUT SUT

25 75

paid the federal social security tax 1300
Paid the Federal Social Security Tax $1300

Social Security Tax Payable

1300

Cash

1300

ad