E5-3

Aman kailani
20199402119

sept. 6 purchase 1800

Cash 1800

sept. 9 purchase 180

Cash 180

sept.10 Account payable 66

purchase 66

sept.12 Account Receivable 924

sales 924

sept.14 Sales returns and Allowances 33

Account receivable 33

sept.20 Account receivable 1400

Sales 1400

E5-4
A)

Date Accounts Dr. cr.

June 10 purchase 7,600
Account payable 7,600

June 11 purchase 400

Cash 400

June 12 Account payable 300

purchase 300

June 19 Account payable 7,300

purchase 146
Cash 7154

B)
Date Accounts Dr. Cr.
June 10 Account receivable 7,600
Sales revenue 7600

June 12 Sales returns and Al. 300

Accounts receivable 300

June 19 Cash 7154

Sales Discounts 146
Accounts receivable 7,300

Emma alternations
December 31.2019
Sales 39,3426
Less: sales return allowance 55439
Sales discount 61,347
Sales discount 116,779
Net sales 276,647

Cost of goods sold 90,333

Gross profit 186314

Cost expenses 10400

Depreciation 8560
Insurance expenses 3421
Ad.expenses 11,878
Sales expenses 26,750
Office supplies expenses 4903
Total expenses 65912

Interest revenue 100,976

Rent revenue 65,500
Rent revenue 166,476
Interest expenses
3570
Net income 283,308

Emma alternations
Closing entries
 December 31.2019
Sales 393,426
Income summary 393,426

Income summary 186351

Cost of goods sold 90,333
Sales of supplies expenses 26,750
Office supplies expenses 4,903
Sales returns and allowance 55,432
Sales discount 61,347
Depreciation 8,560
Ad. Expenses 11,878
Insurance expense 3,421
Interest expense 3560
Rent expense 10,400

Income summary 207,075

Retained earnings 207,075