close solutoin list

Identify journals Assuming the use of a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded: a. Closing of drawing account at the end of the year. b. Providing services for cash. c. Sale of office supplies on account, at cost, to a neighboring business. d. Receipt of cash from sale of office equipment. e. Receipt of cash for rent. f. Receipt of cash on account from a customer. g. Providing services on account. h. Investment of additional cash in the business by the owner. i. Receipt of cash refund from overpayment of taxes. j. Adjustment to record accrued salaries at the end of the year.

BuyFind

Accounting (Text Only)

26th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285743615
BuyFind

Accounting (Text Only)

26th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285743615

Solutions

Chapter
Section
Chapter 5, Problem 5.3EX
Textbook Problem

Identify journals

Assuming the use of a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded:

a. Closing of drawing account at the end of the year.

b. Providing services for cash.

c. Sale of office supplies on account, at cost, to a neighboring business.

d. Receipt of cash from sale of office equipment.

e. Receipt of cash for rent.

f. Receipt of cash on account from a customer.

g. Providing services on account.

h. Investment of additional cash in the business by the owner.

i. Receipt of cash refund from overpayment of taxes.

j. Adjustment to record accrued salaries at the end of the year.

Expert Solution

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

See Solution

*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.

Chapter 5 Solutions

Accounting (Text Only)
Show all chapter solutions
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 - Purchases journal The following purchase...Ch. 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 - Segment analysis Back Country Life, Inc., does...Ch. 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 - Prepare journal entries in a revenue journal...Ch. 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 - Identify transactions in accounts payable...Ch. 5 - Prepare journal entries in a purchases journal...Ch. 5 - Posting a purchases journal The purchases journal...Ch. 5 - Accounts payable subsidiary ledger The cash...Ch. 5 - Purchases and cash payments journals Transactions...Ch. 5 - Purchases and cash payments journals Happy Tails...Ch. 5 - Error in accounts payable subsidiary ledger After...Ch. 5 - Identify postings from special journals Pinnacle...Ch. 5 - Cash receipts journal The following cash receipts...Ch. 5 - Computerized accounting systems Most computerized...Ch. 5 - Computerized accounting systems and e-commerce...Ch. 5 - E-commerce For each of the following companies,...Ch. 5 - Segment revenue horizontal analysis Starbucks...Ch. 5 - Segment revenue vertical analysis News Corporation...Ch. 5 - Segment revenue horizontal and vertical analyses...Ch. 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 - Problems: Series B Revenue journal; accounts...Ch. 5 - Revenue and cash receipts journals; accounts...Ch. 5 - Purchases, accounts payable account, and accounts...Ch. 5 - Purchases and cash payments journals; accounts...Ch. 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...

Additional Business Textbook Solutions

Find more solutions based on key concepts
Show solutions
Describe the three-tier client-server model.

Accounting Information Systems

REQUIRED ANNUITY PAYMENTS A father is now planning a saving program to put his daughter through college. She is...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Give an example of a price ceiling and an example of a price floor.

Principles of Economics (MindTap Course List)

What are the systems development objectives?

Accounting Information Systems

Is savings harmful or beneficial to the economy? Contrast the two views on this issue.

Economics: Private and Public Choice (MindTap Course List)

What is the Laffer curve? What are the important implications of the Laffer curve?

Macroeconomics: Private and Public Choice (MindTap Course List)