26 12/12 Received a check in the amount of $28,714 from Trudy's Plumbing in payment of invoice No. 1204. 27 12/12 Sold plumbing fixtures and supplies to Boecker Builders, on account, invoice No. 1207 for $24,730. 28 12/13 The Potts Company returned defective copper tubing that it purchased on December 10. A credit memo in the amount of $4,680 is issued relative to invoice No. 1206. The copper tubing had a cost of $3,550. 29 12/13 The defective copper tubing is returned to Edward's Plumbing Supplies, Inc. along with a debit memo in the amount of $3,550 in reduction of purchase order No. 315. 30 12/13 Issued check No. 1588 for $399 in payment of November telephone bill to Northern Illinois Communications. 31 12/14 Issued check No. 1589 in the amount of $11,360 in payment of federal withholding taxes, $9,573, and FICA taxes, $1,787, payable on November salaries and wages; the check is remitted to the Winnebago County Bank as the depository. 32 12/14 Issued check No. 1590 for $52,173 to Phoenix Plastics, Inc. in payment of purchase order No. 316. 33 12/17 The president informs you that Bilder Construction Company agrees. to convert the $45,200 overdue account receivable (invoice No. 1120) to an 8% note due six months from today. 34 12/17 Purchased plumbing materials from Smith Pipe Company on account, purchase order No. 317 for $60,800 terms 1/15, n/60. 35 12/18 Sold drain tile, plastic pipe, and copper tubing to A &, B Hardware on account, invoice No. 1208 for$7,920. · 36 12/18 Sold fixtures and materials to Coconino Contractors, Inc. on account, invoice No. 1209. for$42,780. 37 12/19 An invoice in the amount of $1,021was received from S. White Trucking Company for freight on purchase order No. 317 and paid by issuing check No. 1591. 38 12/19 Received a check in the amount of $33,173 from Trudy's Plumbing in payment of invoice No. 1205. 39 12/20 Purchased office supplies from the Pen & Pad, issuing check No. 1592 in the amount of $1,360. (Note: Debit asset account). 40 12/20 Purchased a new Faith computer for $6,100 from Business Basics, Inc., purchase order No. 318, paying $600 down through Check No. 1593 with the balance due in thirty days (n/30). The computer has an estimated life of five years with a salvage value of $1,300. Use subsidiary account No. 16. 41 12/21 Purchased bathroom and kitchen fixtures from Phoenix Plastics, on account, purchase order No. 319 for $48,330, terms 1/10, n/30. 42 12/21 Received a bill from DeKalb Transport for $2,300 for freight costs incurred during the last 30 days, terms n/30. 43 12/24 The payroll summary for the biweekly pay period ended Friday, December 21 contained the following information: Delivery and warehouse wages $5,770 FICA taxes withheld 415 Federal income taxes withheld 1,067 State income taxes withheld 225 Net pay $4,063 Employer’s payroll taxes: FICA tax $415 Federal unemployment tax 0 State unemployment tax 0 Issued check No. 1594 for the amount of the net pay and deposited it in the payroll bank account. Individual payroll checks were then prepared for distribution to the biweekly employees on Monday, December 24. 44 12/26 The board of directors voted to purchase 1,000 shares of its own stock from stockholder Dionne Schivone at $83 per share and issued check No. 1595 in payment. Stock repurchases are recorded at cost. Total Plumbing is purchasing these shares because Ms. Schivone had been a valuable employee. 45 12/26 The board of directors declared a $1.90 per-share cash dividend payable on January 14 to stockholders of record on December 26 (after purchase of stock). 46 12/26 The president informs you that Beverly's Building Product agrees to convert the $14,000 overdue accounts receivable (invoice No. 1119) balance to a 9% note due six months from today. 47 12/27 A half-acre parcel of land adjacent to the building is acquired in exchange for 600 shares of unissued common stock. The land has a fair value of $54,000 and will be used immediately as an outside storage lot and parking lot. 48 12/27 An invoice in, the amount of $2,650 is received from Wayne McManus, lawyer, for legal· services involved in the acquisition of the adjacent parcel of land; check- No. 1596 is issued in payment. 49 12/27 Sold pipe and plumbing materials to Boecker Builders on account, invoice No. 1210 for $49,040. 50 12/28 Issued check No. 1597in the amount of$500 to the Northern Star for advertisement run in the home building supplement of December 13. Create journal entries
26 - 12/12 Bank A/c Dr.. $28,714 To Trudy's Plumbing $28,714 (Being Payment Received by Cheque for invoice No. 1204 from Trudy's Plumbing ). 27 - 12/12 Boecker Builders A/c Dr.. $24,730 To Sales $24,730 (Being Sales made Via invoice No. 1207 to Boecker Builders). 28 - 12/13 Sales Return A/c.. Dr.. $4,680 To Potts Company $4,680 (Being A credit memo in the amount of $4,680 is issued relative to invoice No. 1206.). 29- 12/13 Edward's Plumbing Supplies, Inc. A/c Dr... $3,550 To Purchase Return $3,550 (Being a debit memo received in the amount of $3,550 in reduction of purchase order No. 315.) 30- 12/13 Telephone bill A/c Dr $399 To Bank A/c $399 (Being Telephone bill of November month Paid) 31 - 12/14 federal withholding taxes A/c....Dr... $9,573 FICA taxes A/c....Dr.... $1,787 To Winnebago County Bank a/c. $11,360 (Being Statutory Payments Made Via check No. 1589) Assumption- Assuming that the same Winnebago County Bank is considered as companies payment bank also. 32 - 12/14 Purchases A/c Dr... $52,173 To Bank A/c... $52,173 ( Being Issued check No. 1590 for $52,173 to Phoenix Plastics, Inc. in payment of purchase order No. 316.) 34 - 12/17 Plumbing materials A/c Dr... $60,800 To Smith Pipe Company $60,800 (Being Purchased plumbing materials from Smith Pipe Company on account, purchase order No. 317 for $60,800 terms 1/15, n/60) 35 12/18 A &, B Hardware A/c Dr... $7,920. To Sales(drain tile, plastic pipe, and copper tubing) $7,920. (Being Sales made to A &, B Hardware on account, invoice No. 1208 for$7,920.) 36 - 12/18 Coconino Contractors, Inc. A/c Dr... $42,780 To fixtures and materials $42,780 (Being Sales made to Coconino Contractors, Inc. on account, invoice No. 1209. for$42,780.) 37 - 12/19 Freight Charges(S. White Trucking Company) A/c Dr... $1,021 To Bank $1,021 (Being freight on purchase order No. 317 and paid by issuing check No. 1591.) 38 - 12/19 Bank A/c Dr..... $33,173 To Trudy's Plumbing $33,173 ( Being Check Received from Trudy's Plumbing for invoice No. 1205.) 40 - 12/20 Computer A/c Dr.... $6,100 To Bank A/c... $600 To Business Basics A/c...(Outstanding) $5500 ( Being Purchase made on Faith computers purchase order No. 318,) 41 - 12/21 Bathroom and kitchen fixtures A/c Dr... $48,330 To Phoenix Plastics $48,330 (Being Credit Purchase made on purchase order No. 319 for $48,330, terms 1/10, n/30.) 42 - 12/21 Freight Expense A/c Dr $2,300 To outstanding expense A/c $2,300 (being expense due to be paid) 48 - 12/27 Legal Charges A/c Dr.. . $2,650 To Bank $2,650 (Being Lawer Expenses paid) 49 - 12/27 Boecker Builders A/c Dr... $49,040. To pipe and plumbing materials $49,040. (Being Credit Sales made to Boecker Builders) 50 - 12/28 Advertaisment Expenses A/c Dr... $500 To Bank $500 (Being Advertisement Expenditure Made to Northern Bank)
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