Prepare Journal Entries in a Purchases Journal Guardian Services Inc. had the following transactions during the month of April: Apr. 4. Purchased office supplies from Officemate, Inc. on account, $390. Apr. 9. Purchased office equipment, Inc. on account from Tek Village Inc., $1,540. Apr. 16. Purchased office supplies from Officemate, Inc. on account, $110. Apr. 19. Purchased office supplies from Paper-to-Go Inc. on account, $160. Apr. 27. Paid invoice on April 4 purchase from Officemate, Inc. a. Prepare a purchases journal to record the April purchase transactions for Guardian Services Inc. If an amount box does not require an entry, leave it blank. If no entry is required in "Other Accounts Dr." then select "No entry required". PURCHASES JOURNAL DATE Account Credited Post. Ref. Accounts Payable Cr. Office Supplies Dr. Other Accounts Dr. Post. Ref. Amount Apr. 4 Apr. 9 Apr. 16 Apr. 19 Apr. 30 Total b. What is the total amount posted to the accounts payable and office supplies accounts from the purchases journal for April? Credit to Accounts Payable $ Debit to Office Supplies $ c. What is the April 30 balance of the Officemate Inc. creditor account assuming a zero balance on April 1?$

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

100%

Prepare Journal Entries in a Purchases Journal

Guardian Services Inc. had the following transactions during the month of April:

Apr. 4.	Purchased office supplies from Officemate, Inc. on account, $390.
Apr. 9.	Purchased office equipment, Inc. on account from Tek Village Inc., $1,540.
Apr. 16.	Purchased office supplies from Officemate, Inc. on account, $110.
Apr. 19.	Purchased office supplies from Paper-to-Go Inc. on account, $160.
Apr. 27.	Paid invoice on April 4 purchase from Officemate, Inc.

a. Prepare a purchases journal to record the April purchase transactions for Guardian Services Inc. If an amount box does not require an entry, leave it blank.

If no entry is required in "Other Accounts Dr." then select "No entry required".

PURCHASES JOURNAL
DATE	Account Credited	Post. Ref.	Accounts Payable Cr.	Office Supplies Dr.	Other Accounts Dr.	Post. Ref.	Amount
Apr. 4
Apr. 9
Apr. 16
Apr. 19
Apr. 30	Total

b. What is the total amount posted to the accounts payable and office supplies accounts from the purchases journal for April?

Credit to Accounts Payable	$
Debit to Office Supplies	$

c. What is the April 30 balance of the Officemate Inc. creditor account assuming a zero balance on April 1?
$

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Financial Reporting in Hyperinflationary Economies

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