Oct. 5: Summit Trail purchased store equipment for $12,000 cash. Which journal entry should be recorded?

Oct. 21: Glacier Sports Club returned $3,500 of merchandise from the Oct. 17 sale. The returned merchandise had a cost of $2,100 and was returned to inventory. Which journal entry should be recorded?

January 3: Lakeside Gear Supply Ltd. purchased merchandise inventory on account for $64,000, terms 2/10, n/30. Which journal entry should be recorded on the purchase date?

ESTIMATED UNCOLLECTIBLE ACCOUNTS DEBIT BALANCE Evergreen Office Supplies Ltd. sells office furniture, technology accessories, and stationery products to business customers on account. If their allowance for expected credit losses is in a debit position of 4,800, what would be the amount of the adjusting entry?  Please format your response with no cents, commas or dollar signs ie. 10000 _______

Using the dividend declaration information, how much of the $650,000 total dividend is allocated to common shareholders?

ESTIMATED UNCOLLECTIBLE ACCOUNT JOURNAL ENTRY Evergreen Office Supplies Ltd. sells office furniture, technology accessories, and stationery products to business customers on account. At the end of the fiscal year, the company reviews its outstanding accounts receivable balances to determine whether all customer balances are likely to be collected. After reviewing past collection experience, customer payment history, and current economic conditions, Evergreen Office Supplies Ltd. estimates that $36,500 of its accounts receivable may not be collectible. The company uses the allowance method to account for expected credit losses. What accounts would be debited and credited when preparing the year-end adjusting entry for expected credit losses?

Oct. 24: Summit Trail collected the amount owing from Glacier Sports Club from the Oct. 17 sale after considering the Oct. 21 sales return and the 1/10 discount terms. Original sale was $22,000 and the return was $3,500. Which journal entry should be recorded?

At year-end, a company estimates expected credit losses under the allowance method. Which accounts are debited and credited in the adjusting entry?

A cheque for office supplies cleared the bank for $999.90 but was recorded in the company cash payments journal as $2,499.90. What adjustment is needed in the bank reconciliation?

Blue River Ltd. has beginning retained earnings of $42,000, net income of $18,000, and dividends declared of $6,000. What is ending retained earnings?