Need all general journal entries any further answers appreci

Need all general journal entries any further answers appreciated.

Thanks.

Company Background & Scenario The Panther Marine Company is a well-established, publicly-held corporation, operating as a wholesaler in the marine parts industry. Specifically, Panther Marine purchases marine parts from manufacturers and sells them to large business customers. Most purchases and sales are on account, with trade credit terms specified in Transactions\" worksheet within this workbook. You\'re a Davenport University student pursuing a bachelor\'s degree in business and employed at the Panther Marine Company this semester as an intern. You\'ve worked in various departments and on several projects so far, learning a lot about the company\'s business operations. Management seems impressed with your enthusiasm and the quality of your work. The company\'s accountant has just been called away for a family emergency and will likely be absent for a month or so. The General Manager asks you to take over the accountant\'s regular duties on an interim basis. You\'re nervous about doing so, but are confident that what you\'ve learned in accounting class, plus your personal problem-solving skills, will make this a successful experience. What a great learning opportunity, not to mention an enhancement to your resume!

Solution

SHARES IN GRAND VELLY MARINE INC.

(INVESTMENT)

(3250*52=$169000) LESS 20% DISCOUNT

= 135200

DATE	PARTICULARS	DEBIT	CREDIT
		( $)	($)
JUNE 1	PURCHASE	210000
	RAYDER MARINE		210000
JUNE 1	BANK	200000
	SHARE CAPITAL		10000
	PREMIUM ON ISSUE OF COMMON STOCK		190000
JUNE 1	BANK	216000
	NOTE PAYABLE		216000
JUNE 1	CHRIS CRAFT	340000
	SALES		340000
JUNE 2	BANK	6000
	RENT		2000
	ACCRUED RENT		4000
JUNE 2	SEA RAY	426400
	SALES		426400
JUNE 2	OFFICE SUPPLIES	4800
	STAPELS		4800
JUNE 2	BOSTON WHALER	128200
	SALES(DOWNRIGGERS)		59400
	SALES(PROPELLER)		68800
JUNE 3	PROFIT AND LOSS	100000
	PROVISION FOR DIVIDENDS		100000
	(40000+10000 COMMON STOCK0
JUNE 4	BANK	86350
	CHIRS CRAFT		86350
JUNE 4	PROFIT AND LOSS	7000
	FOUR WINNS(A/C RECIEVABLE)		7000
JUNE 5	ACCOUNT PAYABLE (DU UTILITY CO.)	3300
	BANK		3300
JUNE 6	SHARES IN GRAND VELLY MARINE INC. (INVESTMENT)	120000
	BANK		120000
JUNE 7	TRAVEL& ENTERTAINMENT EXPENSES	5925
	BANK		5925
JUNE 8	STAPLES	4800
	BANK		4800
JUNE 11	RYDAR MARINE	210000
	BANK		210000
JUNE 11	CONSULTING FEES(EXPENSES)	4100
	BANK		4100
JUNE 12	PROVISION FOR DIVIDEND	100000
	DIVIDEND		100000
JUNE 12	DIVIDEND	100000
	BANK		100000
JUNE 13	PURCHASE(PROPELLERS)	135200
	ACME		135200
	(3250*52=$169000) LESS 20% DISCOUNT = 135200
JUNE 13	PURCHASE (FISH FINDER)	92500
	RAYDAR MARINE		92500
JUNE 15	DONZI	346500
	SALES (PROPELLERS)		346500
JUNE 15	SALERIES	20500
	WAGES	6600
	BANK		27100
JUNE 16	PURCHASE (DOWNRIGGERS)	80000
	SCOTTY		80000
JUNE 17	CREDIT NOTE	28700
	SEA RAY		28700
	CREDIT WILL BE ISSUED FOR SELLING AMT.
JUNE 17	CASH	17500
	RAYDAR MARINE		17500
	(AS WE ARE FOLLOWING LIFO METHOD WE
	WILL CONSIDER THE PURCHASE PRICE OF
	LATEST PURCHASE WHICH IS $50 PER UNIT)
JUNE 18	BANK	340000
	CHRIS CRAFT		340000
JUNE 20	RAYDAR MARINE	75000
	PURCHASE RETURN		75000
	(1850 UNITS WERE PURCHASED OUT OF
	WHICH 350 RETURED EARLIER SO NOW 1850-
	350= 1500 UNITS HAVE BEEN RETURNED)
JUNE 20	BANK	28000
	MARINE STOCK		28000
JUNE 22	SEA RAY	148400
	SALES		148400
JUNE 23	ACME	195000
	BANK		195000
JUNE 23	BANK	175000
	DONZI		175000
JUNE 24	PHONE CARD(TRAVEL EXP.)	3000
	BANK		3000
JUNE 25	ACME	135200
	BANK		135200
JUNE 26	PURCHASE	41250
	BANK		41250
JUNE 27	DONZI	91500
	SALES		91500