ACCOUNTING,CHAP.1-13
26th Edition
ISBN: 9781305088412
Author: WARREN
Publisher: CENGAGE L
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Chapter 5, Problem 5.16EX
Accounts payable subsidiary ledger
The cash payments and purchases journals for Outdoor Artisan Landscaping Co. follow. The accounts payable control account has an June 1, 2016, balance of $2,230, consisting of an amount owed to Augusta Sod Co.
Prepare a schedule of the accounts payable creditor balances, and determine that the total agrees with the ending balance of the accounts payable controlling account.
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Prepare a schedule of the accounts payable creditor balances. If an amount is zero, enter "0".
Magnolia Landscaping
Accounts Payable Creditor Balances
June 30, 20Y1
Augusta Sod Co.
Concrete Eguipment Co.
Home Centers Lumber Co.
Nu Lawn Fertilizer
Total accounts payable
$
After you prepare the schedule of the accounts payable creditor balances, determine that the total agrees with the ending balance of the accounts payable controlling account.
Magnolia Landscaping
Accounts Payable
(Controlling)
Balance, June 1, 20Y1
Total credits (from purchases journal)
Total debits (from cash payments journal)
Balance, June 30, 20Y1
Revenue and Cash Receipts Journals
Transactions related to revenue and cash receipts completed by Augusta Inc. during the month of March 20Y8 are as follows:
Mar. 2.
Issued Invoice No. 512 to Santorini Co., $1,095.
4.
Received cash from CMI Inc., on account, for $275.
8.
Issued Invoice No. 513 to Gabriel Co., $385.
12.
Issued Invoice No. 514 to Yarnell Inc., $965.
19.
Received cash from Yarnell Inc., on account, $735.
20.
Issued Invoice No. 515 to Electronic Central Inc., $210.
28.
Received cash from Marshall Inc. for services provided, $155.
29.
Received cash from Santorini Co. for Invoice No. 512 of March 2.
31.
Received cash from McCleary Co. for services provided, $90.
Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Enter the transactions in chronological order.
Question Content Area
REVENUE JOURNAL
PAGE 8
DATE
Invoice No.
Account Debited
Post. Ref.…
Using the following cash payments journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that No posting is required.
CASH PAYMENTS JOURNAL
Page 46
Date
Ck.No.
Account Debited
Post.Ref.
OtherAccountsDr.
AccountsPayableDr.
Cash Cr.
20Y1
July 3
611
Energy Systems Co.
(a)
4,000
4,000
July 5
612
Utilities Expense
(b)
310
310
July 10
613
Prepaid Rent
(c)
3,200
3,200
July 16
614
Flowers to Go, Inc.
(d)
1,250
1,250
July 19
615
Advertising Expense
(e)
640
640
July 22
616
Office Equipment
(f)
3,600
3,600
July 25
617
Echo Co.
(g)
5,500
5,500
July 26
618
Office Supplies
(h)
250
250
July 31
619
Salaries Expense
(i)
1,750
1,750
July 31
9,750
10,750
20,500
(j)
(k)
(l)
Post reference represents:
a.
b.
c.
d.
e.
f.
g.…
Chapter 5 Solutions
ACCOUNTING,CHAP.1-13
Ch. 5 - Why would a company maintain separate accounts...Ch. 5 - What are the major advantages of the use of...Ch. 5 - Prob. 3DQCh. 5 - How many postings to Fees Earned for the month...Ch. 5 - During the current month, the following errors...Ch. 5 - Prob. 6DQCh. 5 - What is an electronic form, and how is it used in...Ch. 5 - Prob. 8DQCh. 5 - What happens to the special journal in a...Ch. 5 - Prob. 10DQ
Ch. 5 - Revenue journal The following revenue transactions...Ch. 5 - Revenue journal The following revenue transactions...Ch. 5 - Accounts receivable subsidiary ledger The debits...Ch. 5 - Accounts receivable subsidiary ledger The debits...Ch. 5 - Prob. 5.3BPECh. 5 - Purchases journal The following purchase...Ch. 5 - Accounts payable subsidiary ledger The debits and...Ch. 5 - Accounts payable subsidiary ledger The debits and...Ch. 5 - Segment analysis McHale Company does business in...Ch. 5 - Prob. 5.5BPECh. 5 - Identify postings from revenue journal Using the...Ch. 5 - Accounts receivable ledger Based on the data...Ch. 5 - Identify journals Assuming the use of a two-column...Ch. 5 - Identify journals Assuming the use of a two-column...Ch. 5 - Identify transactions in accounts receivable...Ch. 5 - Prob. 5.6EXCh. 5 - Posting a revenue journal The revenue journal for...Ch. 5 - Accounts receivable subsidiary ledger The revenue...Ch. 5 - Revenue and cash receipts journals Transactions...Ch. 5 - Revenue and cash receipts journals Lasting Summer...Ch. 5 - Identify postings from purchases journal Using the...Ch. 5 - Identify postings from cash payments journal Using...Ch. 5 - Prob. 5.13EXCh. 5 - Prob. 5.14EXCh. 5 - Prob. 5.15EXCh. 5 - Accounts payable subsidiary ledger The cash...Ch. 5 - Prob. 5.17EXCh. 5 - Prob. 5.18EXCh. 5 - Prob. 5.19EXCh. 5 - Prob. 5.20EXCh. 5 - Cash receipts journal The following cash receipts...Ch. 5 - Computerized accounting systems Most computerized...Ch. 5 - Prob. 5.23EXCh. 5 - Prob. 5.24EXCh. 5 - Prob. 5.25EXCh. 5 - Prob. 5.26EXCh. 5 - Prob. 5.27EXCh. 5 - Revenue journal; accounts receivable subsidiary...Ch. 5 - Revenue and cash receipts journals; accounts...Ch. 5 - Purchases, accounts payable subsidiary account,...Ch. 5 - Purchases and cash payments journals; accounts...Ch. 5 - All journals and general ledger; trial balance The...Ch. 5 - Prob. 5.1BPRCh. 5 - Revenue and cash receipts journals; accounts...Ch. 5 - Purchases, accounts payable account, and accounts...Ch. 5 - Prob. 5.4BPRCh. 5 - All journals and general ledger; trial balance The...Ch. 5 - Ethics in Action Netbooks Inc. provides accounting...Ch. 5 - Manual vs. computerized accounting systems The...Ch. 5 - Accounts receivable and accounts payable A...Ch. 5 - Design of accounting systems For the past few...Ch. 5 - Communication Internet-based accounting software...
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