COLLEGE ACCOUNTING ETEXT+CONNECT ACCESS
16th Edition
ISBN: 9781264624256
Author: Haddock
Publisher: MCG
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Chapter 4, Problem 3E
To determine
Prepare ledger accounts for the given
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1. When a customer’s deposit is recorded using the Make Deposits window, Quickbooks creates a behind the scenes journal entry that will do what?
A. Credit cash and debit checking
B. Credit checking and debit undeposited funds
C. Debit Checking and credit undeposited funds
D. Debit cash and credit checking
2. How can you move your Quickbooks desktop company file, with all of your data, to a new computer?
A. Create a portable file and restore it to a new system
B. Condense the data file on the old computer to the drive space. Back up the file and then restored the condense data file to the new computer
C. Install Quickbooks on the new computer, back up your computer file on the old computer and restore the file to the new system
D. Export your company file to excel from the old computer, then copy this file over to your new computer.
A course.apexlearning.com
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Mail - Kylee Willison - Outlook
Student Email | Columbus State Com..
Ap
L 1.2.7 Quiz: Accounts Payable Process
Question 2 of 10
Which of the following is recorded in the purchases journal?
A. orders made by the customer paid for with cash
B. orders made by the business paid for with cash
C. orders made by the customer on credit or account
D. orders made by the business on credit or account
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You can also right-click either navigation arrow to open a dialog box that lists all of the worksheets in the workbook.
7
Directions:
8
On the Accounts Receivable Ledger worksheet use the blank form to open an account for a new customer, Andrews Career Center, their customer number is 110.
The opening account balance for Andrews Career Center is 1,300.00. Use February 1 for the opening balance date.
Post the transactions from each journal provided, Sales, Cash Receipts and General, into the appropriate customer accounts in the Accounts Receivable Subsidiary ledger. Each
journal has a separate worksheet.
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HINTS: the Accounts Receivable Subsidiary Ledger deals with customers only so only post the amounts that affect a customer. How can you tell if a transaction affects a customer?
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See if the journal transaction identifies a customer by name. If it does you need to determine if the amount is a debit or credit. How can you tell? Look at column heading, it will
Chapter 4 Solutions
COLLEGE ACCOUNTING ETEXT+CONNECT ACCESS
Ch. 4 - The part of the journal entry to be recorded first...Ch. 4 - A general journal is like a(n): a. address book....Ch. 4 - Why are check and invoice numbers included in the...Ch. 4 - Prob. 1.4SRQCh. 4 - Prob. 1.5SRQCh. 4 - Prob. 1.6SRACh. 4 - Prob. 2.1SRQCh. 4 - Prob. 2.2SRQCh. 4 - What is entered in the Posting Reference column of...Ch. 4 - Prob. 2.4SRE
Ch. 4 - Prob. 2.5SRECh. 4 - Prob. 2.6SRACh. 4 - What is recorded in the Posting Reference column...Ch. 4 - Prob. 2CSRCh. 4 - Prob. 3CSRCh. 4 - Prob. 4CSRCh. 4 - Prob. 5CSRCh. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - What is a ledger?Ch. 4 - What is posting?Ch. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - What is a compound journal entry?Ch. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Prob. 10DQCh. 4 - Prob. 11DQCh. 4 - Prob. 1ECh. 4 - Prob. 2ECh. 4 - Prob. 3ECh. 4 - Compound journal entries. The following...Ch. 4 - Prob. 5ECh. 4 - Recording a correcting entry. On August 22, 2019,...Ch. 4 - Prob. 1PACh. 4 - On October 1, 2019, Helen Kennedy opened an...Ch. 4 - The following journal entries were prepared by an...Ch. 4 - Prob. 4PACh. 4 - Prob. 1PBCh. 4 - Prob. 2PBCh. 4 - Prob. 3PBCh. 4 - Prob. 4PBCh. 4 - Prob. 1CTPCh. 4 - Prob. 2CTPCh. 4 - Prob. 1MFCh. 4 - Prob. 2MFCh. 4 - Prob. 3MFCh. 4 - Prob. 4MFCh. 4 - Prob. 1ED
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- The debits and credits from two transactions are presented in the following customer account: NAME Mobility Products Inc. ADDRESS 46 W. Main St. Date Item Post. Ref. Debit Credit Balance Aug. 1 Balance ✔ 540 Aug. 10 Invoice No. 59 CR24 103 437 Aug. 17 Invoice No. 64 R35 129 566 Select the choice that describes each transaction and the source of each posting. Date Action Invoice No. Posted From Journal page Aug. 10 fill in the blank 2 fill in the blank 4 Aug. 17 fill in the blank 6 fill in the blank 8arrow_forwardComplete this question by entering your answers in the tabs below. Analyze General Joumal T accounts Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must use a right side date selection. For left side T- account entries you must use a left side date selection.) Cash 101 Office Supplies 124 Date Amount Date Amount Date Amount Date Amount End. bal. End. bal. Equipment 167 Accounts Payable 201 Date Amount Date Amount Date Amount Date Amount End. bal. End. bal. Unearned Landscaping Revenue 236 Common Stock 307 Date Amount Date Amount Date Amount Date Amount End. bal. End. bal. Landscaping Revenue 403 Date Amount Date Amount End. bal. Caneral lournal reountsarrow_forwardReceived a check for $72 from a customer, Mr. White. Mr. White owed you $124. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalarrow_forward
- 9) When a customer deposit is recorded using the Make Deposits window, behind the screen QuickBooks converts the transactions into a journal entry that:A) Debits Checking account, Credits Undeposited FundsB) Credits Checking account, Debits Undeposited FundsC) Debits Checking account, Credits Accounts ReceivableD) Debits Accounts Receivable, Credits Checking account Group of answer choices A B C Darrow_forwardGood day please assist with this question Show the adjustments that would be required in the cashbook receipts by completing the following table in your work book from the information provided. Thank youarrow_forwardInstructions The following equity investment transactions were completed by Romero Company during a recent year. Apr. July Sept. 10 Purchased 4,700 shares of Dixon Company for a price of $49 per share plus a brokerage commission of $120. 8 Received a quarterly dividend of $0.70 per share on the Dixon Company investment. 10 Sold 1,900 shares for a price of $41 per share less a brokerage commission of $75. Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers the nearest dollar.arrow_forward
- . The branch records a debit memo received from the home asA. Debit to home office accountB. Debit to allocated expenseC. Debit to investment accountD. Credit to home office accountarrow_forwardExplain how to open a new account in the accounts payable ledgerarrow_forwardWhich of the following will be the Correct source document assuming that your business issued invoices to customers each day? a. Debit note b. Receipt c. Purchase invoice d. Sales invoicearrow_forward
- identify and discuss the steps in the recording process. Be sure to discuss what each step does and how it relates to the steps before and after it. Then, answer the following questions: Should business transactions credits and debits be recorded directly into the ledger accounts? What are the advantages of recording in the journal before posting transactions into the ledger?arrow_forwardADDITIONAL PRACTICE PROBELM: TRANSACTION JOURNAL ENTRIES Do you know your Left from your Right? Debits and Credits as you shop Instructions: Below are some examples of transactions that college students might engage in. For each transaction record the proper journal entry. Transaction Journal entry 1. You buy a computer for $1,500.00 on credit DR: $1,500.00 CR: $1,500.00 | 2. You purchase for cash ($2.00) and consume a DR: $2.00 St. Pauli Girl at the local pub. CR: $2.00 3. You purchase for future consumption a case DR: $35.00 of St. Pauli Girl for $35.00 cash CR: $35.00 4. You work a part-time job and receive $500 in DR: $500.00 monthly compensation CR: $500.00 5. You pay $1,000 toward the computer purchased DR: $1.000.00 in (1) above. CR: $1,000.00arrow_forwardNOTES RECEIVABLE ENTRIES M. L. DiMaurizio had the following notes receivable transactions: REQUIRED Record the transactions in a general journal.arrow_forward
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