Problem 12c: Stockholders\' Equity: Comprehensive Review 1. Bussey\'s Home Furni

Question

Problem 12c: Stockholders' Equity: Comprehensive Review 1. Bussey's Home Furnishings' chart of accounts is shown below. ccount Number ccount Name Cash Accounts Receivable Merchandise Inventory Store Supplies Display Equipment Accum. Depr., Display Equipment Accounts Payable Income laxes Payable Preferred Stock Common Stock Additional Paid-in Capital, Common Stock Retained Earnings Dividends Sales Cost of Goods Sold Wages Expens Advertising Expense Rent Expense Store Supplies Expense Depreciation Expense, Display Equipment Telephone Expense nco se 113 115 121 122 211 213 311 313 314 321 351 411 511 521 523 525 527 528 529 551 me Taxes Expen

Explanation / Answer

Answer 24. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. C) 14-Jun Advertising Expense      1,700.00    Cash      1,700.00 Answer 25. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. B) 17-Jun Accounts Receivable    11,000.00     Sales    11,000.00 Answer 26. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. A) 21-Jun Cash      8,000.00    Preferred Stock      8,000.00 Answer 27. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. D) 21-Jun Dividends          900.00    Cash          900.00 Answer 28. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. D) 26-Jun Accounts Payable    12,000.00    Cash    12,000.00 Answer 29. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. E) 26-Jun Telephone Expense            75.00    Cash            75.00 Answer 30. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. B) 30-Jun Accounts Receivable    13,000.00     Sales    13,000.00 Answer 31. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. A) 30-Jun Wages Expense      5,000.00     Cash      5,000.00 Answer 32. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. E) 30-Jun Depreciation Expense, Display Equipment          100.00    Accum. Depr., Display Equipment          100.00 Answer 33. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. D) 30-Jun Cash    16,000.00    Accounts Receivable    16,000.00 Answer 34. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. C) 30-Jun Cost of Goods Sold    14,000.00    Merchandise Inventory    14,000.00 Answer 35. Journal Entry S. No. Date Particulars Dr. Amt. Cr. Amt. D) 30-Jun Store Supplies Expense          250.00    Store Supplies          250.00

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