Indicate in the table below where each of the following transactions would be posted byticking (V) the proper column or columns.CashCashSalesPurchasesGeneralReceiptsJournalPaymentsJournalJournalJournalJournal|Made sales on creditMade cash salesPaid water bills by chequeMade cash purchasesCashCashSalesJournalPurchasesJournalReceiptsJournalPaymentsJournalGeneralJournalPurchased goods oncreditWrote cheques forcreditorsPaid salaries and wagesObtained loan from bankBought equipment oncreditPaid for new equipmentCollection from debtors

Sales journal records all credit sales. Purchases journal records all credit purchases. Cash…

Indicate in the table below where each of the following transactions would be posted by ticking (V) the proper column or columns. Cash Cash Sales Purchases General Receipts Payments Journal Journal Journal Journal Journal Made sales on credit Made cash sales Paid water bills by cheque Made cash purchases Cash Receipts Payments Journal Cash Sales Journal Purchases Journal General Journal Journal Purchased goods on credit Wrote cheques for creditors Paid salaries and wages Obtained loan from bank Bought equipment on credit Paid for new equipment Collection from debtors

Indicate in the table below where each of the following transactions would be posted by ticking (V) the proper column or columns. Cash Cash Sales Purchases General Receipts Payments Journal Journal Journal Journal Journal Made sales on credit Made cash sales Paid water bills by cheque Made cash purchases Cash Receipts Payments Journal Cash Sales Journal Purchases Journal General Journal Journal Purchased goods on credit Wrote cheques for creditors Paid salaries and wages Obtained loan from bank Bought equipment on credit Paid for new equipment Collection from debtors

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter11: Accounting For Purchases And Cash Payments

Section: Chapter Questions

Problem 3CE

See similar textbooks

Similar questions

Describe the posting procedure for a cash payments journal with an Other Accounts Debit column and several special columns, including an Accounts Payable Debit column.
You just posted a debit to ABC Co. in the accounts receivable subsidiary ledger. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
You just posted a debit to Cash in the general ledger. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of March 20Y8 are as follows: Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. Place a check mark () in the Post. Ref. column to indicate when the accounts receivable subsidiary ledger should be posted.
You just posted a credit to Accounts Receivable. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
Transactions related to purchases and cash payments completed by Wisk Away Cleaning Services Inc. during the month of May 20Y5 are as follows: Prepare a purchases journal and a cash payments journal to record these transactions. The forms of the journals are similar to those illustrated in the text. Place a check mark () in the Post. Ref. column to indicate when the accounts payable subsidiary ledger should be posted. Wisk Away Cleaning Services Inc. uses the following accounts:
All sales, for cash or on credit, can be recorded in the general journal.
Record the following transactions in the cash disbursements journal:
You just posted a credit to Sales and a debit to Cash. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of December 2016 are as follows: Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. Place a check mark () in the Post. Ref. column to indicate when the accounts receivable subsidiary ledger should be posted.
Name two situations where cash would be remitted to a customer from a retailer after purchase.
How often do we post the cash column in the cash receipts journal to the subsidiary ledger?