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    Garet Hagin
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    The document summarizes the general journal entries for Olaf Digital Company for April 11. It records various debits and credits for cash, accounts receivable, merchandise inventory, accounts payable, sales, cost of goods sold, and other accounts. Key transactions include a $6,900 debit to merchandise inventory on April 2, sales of $5,500 credited to accounts receivable on April 4, and cost of goods sold of $4,100 debited on April 13.

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    The document summarizes the general journal entries for Olaf Digital Company for April 11. It records various debits and credits for cash, accounts receivable, merchandise inventory, accounts payable, sales, cost of goods sold, and other accounts. Key transactions include a $6,900 debit to merchandise inventory on April 2, sales of $5,500 credited to accounts receivable on April 4, and cost of goods sold of $4,100 debited on April 13.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    2 views10 pages

    Chapter 5 PA Garet Tandris

    Uploaded by

    Garet Hagin
    The document summarizes the general journal entries for Olaf Digital Company for April 11. It records various debits and credits for cash, accounts receivable, merchandise inventory, accounts payable, sales, cost of goods sold, and other accounts. Key transactions include a $6,900 debit to merchandise inventory on April 2, sales of $5,500 credited to accounts receivable on April 4, and cost of goods sold of $4,100 debited on April 13.

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    © All Rights Reserved
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    of 10

    Olaf Digital Company

    General Journal
    Apr-11

    DATE EXLANATION DEBIT


    April 2 MERCHENDISE INVENTORY $ 6,900
    ACCOUNT PAYABLE
    4 ACCOUNT RECEIVABLE $ 5,500
    SALES
    COST OF GOODS SALES $ 4,100
    MERCHENDISE INVENTORY
    5 FREIGHT-OUT $ 240
    CASH
    6 ACCOUNT PAYABLE $ 500
    MERCHENDISE INVENTORY
    11 ACCOUNT PAYABLE $ 6,400
    MERCHENDISE INVENTORY
    CASH
    13 CASH $ 5,445
    SALES DISCOUNT $ 55
    ACCOUNT RECEIVABLE
    14 MERCHENDISE INVENTORY $ 3,800
    CASH
    16 CASH $ 500
    MERCHENDISE INVENTORY
    18 MERCHENDISE INVENTORY $ 4,500
    ACCOUNT PAYABLE
    20 MERCHENDISE INVENTORY $ 100
    CASH
    23 SALES DISCOUNT $ 6,400
    CASH
    COST OF GOODS SALES $ 5,120
    MERCHENDISE INVENTORY
    26 MERCHENDISE INVENTORY $ 2,300
    CASH
    27 ACCOUNT PAYABLE $ 4,500
    MERCHENDISE INVENTORY
    CASH
    29 SALES RENTURN AND ALLOWANCE $ 90
    CASH
    COST OF GOODS SALES $ 30
    MERCHENDISE INVENTORY
    30 ACCOUNT RECEIVABLE $ 3,700
    CASH
    COST OF GOODS SALES $ 2,800
    MERCHENDISE INVENTORY
    CREDIT

    $ 6,900

    $ 5,500

    $ 4,100

    $ 240

    $ 500
    $ 64
    $ 6,334

    lanjut sheet GL

    $ 5,500

    $ 3,800

    $ 500

    $ 4,500

    $ 100

    $ 6,400

    $ 5,120

    $ 2,300

    $ 90
    $ 4,410

    $ 90

    $ 30

    $ 3,700
    $ 2,800
    Olaf Digital Company
    General Ledger
    Apr-11
    CASH
    DATE EXPLANATION REF DEBIT
    APRIL 1 BALANCE J1
    5 J1
    11 J1
    13 J1 $ 5,445
    14 J1
    16 J1 $ 500
    20 J1
    23 J1 $ 6,400
    26 J1
    27 J1
    29 J1

    ACCOUNT RECEIVABLE
    DATE EXPLANATION REF DEBIT
    APRIL 4 J1 $ 5,500
    13 J1
    30 J1 $ 3,700

    MERCHENDISE INVENTORY
    DATE EXPLANATION REF DEBIT
    APRIL 2 J1 $ 6,900
    4 J1
    6 J1
    11 J1
    14 J1 $ 3,800
    16 J1
    18 J1 $ 4,500
    20 J1
    23 J1
    26 J1 $ 2,300
    27 J1
    29 J1 $ 30
    30 J1

    ACCOUNT PAYABLE
    DATE EXPLANATION REF DEBIT
    APRIL 2 J1
    6 J1 $ 500
    11 J1 $ 6,400
    18 J1
    27 J1 $ 4,500

    COMMON STOCK
    DATE EXPLANATION REF DEBIT
    APRIL 1 BALANCE

    SALES
    DATE EXPLANATION REF DEBIT
    APRIL 4 J1
    23 J1
    30 J1

    SALES RETURN AND ALLOWANCE


    DATE EXPLANATION REF DEBIT
    APRIL 29 J1

    SALES DISCOUNT
    DATE EXPLANATION REF DEBIT
    APRIL 13 J1 $ 55

    COST OF GOODS SOLD


    DATE EXPLANATION REF DEBIT
    APRIL 13 J1 $ 4,100
    J1 $ 5,120
    J1
    J1 $ 2,800

    FREIGTH-OUT
    DATE EXPLANATION REF DEBIT
    APRIL 5 J1 $ 420
    NO. 101
    CREDIT BALANCE
    $ 9,000
    $ 240 $ 8,760
    $ 6,336 $ 2,424
    $ 7,868
    $ 3,800 $ 4,069
    $ 4,569
    $ 100 $ 4,469
    $ 10,869
    $ 2,300 $ 8,569
    $ 4,410 $ 4,159
    $ 90 $ 4,069

    NO. 112
    CREDIT BALANCE
    $ 5,500
    $ 5,500 $ -
    $ 3,700

    NO. 120
    CREDIT BALANCE
    $ 6,900
    $ 4,100 $ 2,800
    $ 500 $ 2,300
    $ 64 $ 2,236
    $ 6,036
    $ 500 $ 5,536
    $ 10,036
    $ 100 $ 10,136
    $ 5,120 $ 5,036
    $ 7,316
    $ 90 $ 7,226
    $ 7,256
    $ 2,800 $ 4,256

    NO. 201
    CREDIT BALANCE
    $ 6,900 $ 6,900
    $ 6,300
    $ -
    $ 4,500 $ 4,500
    $ -

    NO.311
    CREDIT BALANCE
    $ 9,000

    NO. 401
    CREDIT BALANCE
    $ 5,500 $ 5,500
    $ 4,600 11900
    $ 3,700 15600

    NO.412
    CREDIT BALANCE
    $ 90

    NO.414
    CREDIT BALANCE
    $ 55

    NO.505
    CREDIT BALANCE
    $ 4,100
    $ 3,220
    $ 30 $ 3,190
    $ 11,990

    NO.644 LANJUT SHEET INCOME STATEMENT


    CREDIT BALANCE
    $ 420
    Olaf Digital Company
    INCOME STATMENT
    Apr-11

    SALES REVENUE
    SALES
    LESS: SALES RETURNS AND ALLOWANCE $ 90
    SALES DISCOUNT $ 55
    $ 140
    NET SALES
    COST OF GOODS SOLD
    GROSS PROFIT
    $ 15,600

    $ 15,455
    $ 1,199
    $ 3,465

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