Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. July 1 Purchased $20,500 of merchandise on credit from Hector Co., terms n/15.
4 Sold merchandise costing $920 to C. Paul for $1,030 cash.
8 Purchased $660 of office supplies from Zhang Co. on credit, terms n/30.
15 Paid Hector $20,500 cash for the merchandise purchased on July 1.
21 Purchased $1,065 of store supplies on credit from Staples, terms n/30.
22 Sold merchandise costing $2,600 to MicroTran for $3,100 on credit, terms n/30.
23 Purchased office supplies from Depot for $365 cash.
25 Purchased $5,400 of merchandise on credit from Alfredo Co., terms n/30.
27 Paid employee salaries of $2,250 in cash.

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?

The common stock of ncp paid $1.35 in dividends last year. dividends are expected to grow at an annual rate of 5.30 percent for an indefinite number of years. a. if ncp's current market price is $22.57 per share, what is the stock's expected rate of return? b. if your required rate of return is 7.3 percent, what is the value of the stock for you? c. should you make the investment? a. if ncp's current market price is $22.57 per share, the stock's expected rate of return is

How success was the first day of the bus boycott