College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
bartleby

Concept explainers

bartleby

Videos

Textbook Question
Chapter 3, Problem 1E

In the following two-column journal, the capital letters represent where parts of a journal entry appear. Write the numbers 1 through 8 on a sheet of paper. After each number, match the capital letter where these items appear with the number of the item. (Not all letters will be used.)

Chapter 3, Problem 1E, In the following two-column journal, the capital letters represent where parts of a journal entry

  1. 1. Year
  2. 2. Month
  3. 3. Explanation
  4. 4. Title of account debited
  5. 5. Ledger account number of account credited
  6. 6. Amount of debit
  7. 7. Day of the month
  8. 8. Title of account credited
Blurred answer
Students have asked these similar questions
In the two-column general journal page below, each capital letter represents a part of a journal entry. Select the proper letter to the item in the list below to identify the proper part of the journal entry. GENERAL JOURNAL Page 1 GH I  J O M              K P   N                L         1. Ledger account number of account credited     2. Month     3. Explanation     4. Title of account debited     5. Year     6. Day of the month     7. Title of account credited     8. Amount of debit     9. Amount of credit     10. Ledger account number of account debited
Notes: In the General Ledger: Write the date of the transaction. Write the amount in the debit or credit column of the ledger as shown in the journal. Write the journal page number in the Post. Ref. column of the ledger. The five column journal attached at the top is the first journal. Calculate the balance. Hint: The balance of each account should reflect that account’s normal balance. In the journal, write the ledger account number in the Post. Ref. column.   Note 2: There are 7 general ledger columns that must be filled. Only two boxes need to be filled in, in each one. Open a general ledger account for each of the accounts listed in the chart of accounts above. Post the separate amounts on each line of the journals that need to be posted separately. Post the journal’s special amount column totals.
1. Record the April 1, 20Y3, balance of each account in the appropriate balance column of a four-column account, type Balance in the item section, and select a check mark in the Posting Reference column. 3. Post to the ledger, extending the account balance to the appropriate balance column after each posting. Post in chronological order. For transactions occurring on the same day, post in the order presented in the instructions. Insert the appropriate posting references in both the journal and the ledger as each item is posted. How does grading work?   LEDGER Score: 28/510   Account: Cash11Account No.       DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 1               2         ✔     3               4               5               6               7       ✔       8               9…

Chapter 3 Solutions

College Accounting (Book Only): A Career Approach

Knowledge Booster
Accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • Assuming the use of a two-column (all-purpose) general journal, a purchases journal, and a cash payments journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded:a. Payment of six months’ rent in advance.b. Purchase of an office computer on account.c. Purchase of office supplies on account.d. Adjustment to record depreciation at the end of the month.e. Adjustment to record accrued salaries at the end of the period.f. Purchase of services on account.g. Adjustment to prepaid rent at the end of the month.h. Purchase of office equipment for cash.i. Adjustment to prepaid insurance at the end of the month.j. Purchase of office supplies for cash.k. Advance payment of a one-year fire insurance policy on the office.
    Use the following T-accounts to prepare the four journal entries required to close the books: T-Accounts. Accounts Receivable debit balance 45,500. Fees Earned Revenue credit balance 60,000. Commission expense debit balance 7,200. Supplies Expense debit balance 5,500. Wages Expense debit balance 42,000. Dividends debit balance 3,500. Retained Earnings credit balance 51,000.
    Required: 1.  Journalize each transaction, in chronological order, in a two-column journal starting on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. If there is more than one entry on the same date, be sure to enter the transactions in the exact order as presented in the data. (Do not insert the account numbers in the journal at this time.) For a compound transaction, if an amount box does not require an entry, leave it blank. 11 Cash   31 Jeff Horton, Capital 12 Accounts Receivable   32 Jeff Horton, Drawing 14 Supplies   41 Fees Earned 15 Prepaid Rent   51 Salary Expense 16 Prepaid Insurance   52 Supplies Expense 18 Office Equipment   53 Rent Expense 19 Accumulated Depreciation   54 Depreciation Expense 21 Accounts Payable   55 Insurance Expense 22 Salaries Payable   59 Miscellaneous Expense 23 Unearned Fees       You will use the attached spreadsheet to complete several of the remaining…
  • 1.  Journalize each transaction in a two-column journal starting on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) Note: Scroll down to access pages 2 through 4 of the journal. PAGE 1   JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4                 5                 6                 7                 8                 9                 10                 11                 12                 13                 14                 15                 16…
    * Enter the opening balances in the ledger accounts as at Oct 1, Write "Balance" in the expla- nation space and insert a dollar sign ($) in the reference column, Provision should be made for the following additional accounts: No. 306 Jane Kent, Drawings, No, 126 Laundry Revenue, No. 726 Salaries Expense, and No. 732 Utilities Expense. * Journalize the transactions. * Post to the ledger accounts. * Prepare a trial balance as at Oct 31 2007
    One column total of a special journal is posted at monthend to only two general ledger accounts. One of these two accounts is Accounts Receivable. What is the name of this special journal? What is the other general ledger account to which that same month-
    • SEE MORE QUESTIONS
    Recommended textbooks for you
  • College Accounting (Book Only): A Career Approach
    Accounting
    ISBN:9781337280570
    Author:Scott, Cathy J.
    Publisher:South-Western College Pub
    College Accounting, Chapters 1-27
    Accounting
    ISBN:9781337794756
    Author:HEINTZ, James A.
    Publisher:Cengage Learning,
    Financial Accounting: The Impact on Decision Make...
    Accounting
    ISBN:9781305654174
    Author:Gary A. Porter, Curtis L. Norton
    Publisher:Cengage Learning
  • Century 21 Accounting General Journal
    Accounting
    ISBN:9781337680059
    Author:Gilbertson
    Publisher:Cengage
    Financial Accounting
    Accounting
    ISBN:9781305088436
    Author:Carl Warren, Jim Reeve, Jonathan Duchac
    Publisher:Cengage Learning
    Quickbooks Online Accounting
    Accounting
    ISBN:9780357391693
    Author:Owen
    Publisher:Cengage
  • College Accounting (Book Only): A Career Approach
    Accounting
    ISBN:9781337280570
    Author:Scott, Cathy J.
    Publisher:South-Western College Pub
    College Accounting, Chapters 1-27
    Accounting
    ISBN:9781337794756
    Author:HEINTZ, James A.
    Publisher:Cengage Learning,
    Financial Accounting: The Impact on Decision Make...
    Accounting
    ISBN:9781305654174
    Author:Gary A. Porter, Curtis L. Norton
    Publisher:Cengage Learning
    Century 21 Accounting General Journal
    Accounting
    ISBN:9781337680059
    Author:Gilbertson
    Publisher:Cengage
    Financial Accounting
    Accounting
    ISBN:9781305088436
    Author:Carl Warren, Jim Reeve, Jonathan Duchac
    Publisher:Cengage Learning
    Quickbooks Online Accounting
    Accounting
    ISBN:9780357391693
    Author:Owen
    Publisher:Cengage
    The accounting cycle; Author: Alanis Business academy;https://www.youtube.com/watch?v=XTspj8CtzPk;License: Standard YouTube License, CC-BY