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All journals and general ledger; trial balance The transactions completed by Revere Courier Company during December 2016, the first month of the fiscal year, were as follows: Dec. 1. Issued Check No. 610 for December rent, $4,500. 2. Issued Invoice No. 940 to Capps Co., $1,980. 3. Received check for $5,100 from Trimble Co. in payment of account. 5. Purchased a vehicle on account from Boston Transportation, $39,500. 6. Purchased office equipment on account from Austin Computer Co., $4,800. 6. Issued Invoice No. 941 to Dawar Co., $5,680. 9. Issued Check No. 611 for fuel expense, $800. 10. Received check from Sing Co. in payment of $4,850 invoice. 10. Issued Check No. 612 for $360 to Office To Go Inc. in payment of invoice. 10. Issued Invoice No. 942 to Joy Co., $2,140. 11. Issued Check No. 613 for $3,240 to Essential Supply Co. in payment of account. 11. Issued Check No. 614 for $650 to Porter Co. in payment of account. 12. Received check from Capps Co. in payment of $1,980 invoice of December 2. 13. Issued Check No. 615 to Boston Transportation in payment of $39,500 balance of December 5. 16. Issued Check No. 616 for $40,900 for cash purchase of a vehicle. 16. Cash fees earned for December 1-16, $21,700. 17. Issued Check No. 617 for miscellaneous administrative expense, $600. 18. Purchased maintenance supplies on account from Essential Supply Co., $1,750. 19. Purchased the following on account from McClain Co.: maintenance supplies, $1,500; office supplies, $325. 20. Issued Check No. 618 in payment of advertising expense, $1,990. 20. Used $3,600 maintenance supplies to repair delivery vehicles. 23. Purchased office supplies on account from Office To Go Inc., $440. 24. Issued Invoice No. 943 to Sing Co., $6,400. 24. Issued Check No. 619 to S. Holmes as a personal withdrawal, $3,200. 25. Issued Invoice No. 944 to Dawar Co., $5,720. 25. Received check for $4,100 from Trimble Co. in payment of balance. 26. Issued Check No. 620 to Austin Computer Co. in payment of $4,800 invoice of December 6. 30. Issued Check No. 621 for monthly salaries as follows: driver salaries, $16,900; office salaries, $7,600. 31. Cash fees earned for December 17-31, $19,700. 31. Issued Check No. 622 in payment for office supplies, $310. Instructions 1. Enter the following account balances in the general ledger as of December 1: 2. Journalize the transactions for December 2016, using the following journals similar to those illustrated in this chapter: cash receipts journal (p. 31), purchases journal (p. 37, with columns for Accounts Payable, Maintenance Supplies, Office Supplies, and Other Accounts), single column revenue journal (p. 35), cash payments journal (p. 34), and two-column general journal (p. 1). Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made. 3. Post the appropriate individual entries to the general ledger. 4. Total each of the columns of the special journals, and post the appropriate totals to the general ledger; insert the account balances. 5. Prepare a trial balance.

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 5.5APR
Textbook Problem

All journals and general ledger; trial balance

The transactions completed by Revere Courier Company during December 2016, the first month of the fiscal year, were as follows:

Dec. 1. Issued Check No. 610 for December rent, $4,500.

2. Issued Invoice No. 940 to Capps Co., $1,980.

3. Received check for $5,100 from Trimble Co. in payment of account.

5. Purchased a vehicle on account from Boston Transportation, $39,500.

6. Purchased office equipment on account from Austin Computer Co., $4,800.

6. Issued Invoice No. 941 to Dawar Co., $5,680.

9. Issued Check No. 611 for fuel expense, $800.

10. Received check from Sing Co. in payment of $4,850 invoice.

10. Issued Check No. 612 for $360 to Office To Go Inc. in payment of invoice.

10. Issued Invoice No. 942 to Joy Co., $2,140.

11. Issued Check No. 613 for $3,240 to Essential Supply Co. in payment of account.

11. Issued Check No. 614 for $650 to Porter Co. in payment of account.

12. Received check from Capps Co. in payment of $1,980 invoice of December 2.

13. Issued Check No. 615 to Boston Transportation in payment of $39,500 balance of

December 5.

16. Issued Check No. 616 for $40,900 for cash purchase of a vehicle.

16. Cash fees earned for December 1-16, $21,700.

17. Issued Check No. 617 for miscellaneous administrative expense, $600.

18. Purchased maintenance supplies on account from Essential Supply Co., $1,750.

19. Purchased the following on account from McClain Co.: maintenance supplies, $1,500; office supplies, $325.

20. Issued Check No. 618 in payment of advertising expense, $1,990.

20. Used $3,600 maintenance supplies to repair delivery vehicles.

23. Purchased office supplies on account from Office To Go Inc., $440.

24. Issued Invoice No. 943 to Sing Co., $6,400.

24. Issued Check No. 619 to S. Holmes as a personal withdrawal, $3,200.

25. Issued Invoice No. 944 to Dawar Co., $5,720.

25. Received check for $4,100 from Trimble Co. in payment of balance.

26. Issued Check No. 620 to Austin Computer Co. in payment of $4,800 invoice of December 6.

30. Issued Check No. 621 for monthly salaries as follows: driver salaries, $16,900; office salaries, $7,600.

31. Cash fees earned for December 17-31, $19,700.

31. Issued Check No. 622 in payment for office supplies, $310.

Instructions

1. Enter the following account balances in the general ledger as of December 1:

Chapter 5, Problem 5.5APR, All journals and general ledger; trial balance The transactions completed by Revere Courier Company

2. Journalize the transactions for December 2016, using the following journals similar to those illustrated in this chapter: cash receipts journal (p. 31), purchases journal (p. 37, with columns for Accounts Payable, Maintenance Supplies, Office Supplies, and Other Accounts), single column revenue journal (p. 35), cash payments journal (p. 34), and two-column general journal (p. 1). Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.

3. Post the appropriate individual entries to the general ledger.

4. Total each of the columns of the special journals, and post the appropriate totals to the general ledger; insert the account balances.

5. Prepare a trial balance.

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Chapter 5 Solutions

Accounting (Text Only)
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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...

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