Working Papers, Chapters 1-17 for Warren/Reeve/Duchac's Accounting, 26th and Financial Accounting, 14th
26th Edition
ISBN: 9781305392373
Author: Carl Warren, Jim Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 5, Problem 5.8EX
Accounts receivable subsidiary ledger
The revenue and cash receipts journals for Mirage Productions Inc. follow. The accounts receivable control account has a August 1, 2016, balance of $4,230 consisting of an amount due from Celestial Studios Inc.
Prepare a listing of the accounts receivable customer balances and verify that the total agrees with the ending balance of the accounts receivable controlling account.
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The debits and credits from three related transactions are presented in the following
customer's account taken from the accounts receivable subsidiary ledger:
Mission Design
1319 Elm Street
NAME
ADDRESS
Post.
Date
Item
Ref.
Debit
Credit
Balance
20Υ7
Apr. 3
R44
740
740
J11
60
680
CR81
24
680
Describe each transaction and identify the source of each posting.
Voyager Electronic Services has three customers in its accounts receivable subsidiary ledger with beginning balances as follows:
Fred Yao Ming, $1,150.00
Kohl Townson, $850.00
Chandra Jahi, $1,075.00
Record the following transactions in a general journal. Then post to the accounts receivable account in the general ledger and to the customer accounts in the accounts
receivable subsidiary ledger.
On June 3, Kohl Townson paid $325.00 on account.
On June 10, Chandra Jahi purchased $475.00 on account.
On June 15, Fred Yao Ming paid $395.00 on account.
On June 16, Fred Yao Ming purchased $685.00 on account.
On June 23, Kohl Townson purchased $155.00 on account.
If an amount box does not require an entry, leave it blank.
Identify Transactions in Accounts Receivable Subsidiary Ledger
The debits and credits from three related transactions are presented in the following customer's account taken from the accounts receivable subsidiary ledger:
Mission Design
NAME
1319 Elm Street
ADDRESS
Post. Ref.
Date
Item
Debit
Credit
Balance
20Υ7
Apr. 3
R44
740
740
Apr. 6
J11
60
680
Apr. 24
CR81
680
Describe each transaction and identify the source of each posting.
Describe each transaction
Identify the source
Apr. 3
Apr. 6
Apr. 24
Chapter 5 Solutions
Working Papers, Chapters 1-17 for Warren/Reeve/Duchac's Accounting, 26th and Financial Accounting, 14th
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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Accounts Receivable and Accounts Payable; Author: The Finance Storyteller;https://www.youtube.com/watch?v=x_aUWbQa878;License: Standard Youtube License