MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Financial & Managerial Accounting, The Financial Chapters (My Accounting Lab)
5th Edition
ISBN: 9780133877281
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter C, Problem C.28BP
Requirement 1:
To determine
Purchase Journal: It is a special book where only purchase transactions that are purchased from suppliers on credit are recorded.
Cash payments journal: Cash payment journal is a form of special journal book, which records the cash payments transactions, which are being paid to suppliers or other sources.
General Journal: It is a book where all the monetary transactions are recorded in the form of
To Record: The transactions in a purchases journal, cash payment journal and in a general journal.
Requirement 2:
To determine
The totals of each column of the special journal.
Requirement 3:
To determine
To show: How posting would be made by writing the accounts numbers and check marks in the journals.
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Purchases and Cash Payments Journals
Transactions related to purchases and cash payments completed by Wisk Away Cleaning Services Inc. during the month of May 20Y5 are as follows:
May 1.
Issued Check No. 57 to Bio Safe Supplies Inc. in payment of account, $345.
May 3.
Purchased cleaning supplies on account from Brite N’ Shine Products Inc., $200.
May 8.
Issued Check No. 58 to purchase equipment from Carson Equipment Sales, $2,860.
May 12.
Purchased cleaning supplies on account from Porter Products Inc., $360.
May 15.
Issued Check No. 59 to Bowman Electrical Service in payment of account, $145.
May 18.
Purchased supplies on account from Bio Safe Supplies Inc., $240.
May 20.
Purchased electrical repair services from Bowman Electrical Service on account, $110.
May 26.
Issued Check No. 60 to Brite N’ Shine Products Inc. in payment of May 3 invoice.
May 31.
Issued Check No. 61 in payment of salaries, $5,600.
Wisk Away Cleaning Services Inc. uses the…
Hawk Company uses a single-column purchases journal, a cash payments journal, and a general journal to record transactions with its suppliers and others. Record the following transactions in the appropriate journals.
Transactions
Oct. 5 Purchased merchandise on account for $19,000 from Harrelson Company. Terms: 2/10, n/30; FOB shipping point.
Oct. 6 Paid $6,600 to Ken’s Insurance Company for a two-year fire insurance policy.
Oct. 8 Purchased store supplies on account for $600 from Stone Pony Supply Company. Terms: 2/10, n/30.
Oct. 11 Purchased merchandise on account for $15,000 from Steve Corporation. Terms: 2/10, n/30; FOB shipping point.
Oct. 13 Granted a reduction of $3,000 from Steve Corporation for merchandise purchased on October 11 and returned because of damage.
Oct. 15 Paid Harrelson Company for merchandise purchased on October 5, less discount.
Oct. 16 Purchased merchandise for $9,000 cash from Williams…
Chapter C Solutions
MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Financial & Managerial Accounting, The Financial Chapters (My Accounting Lab)
Ch. C - Prob. 1QCCh. C - Prob. 2QCCh. C - Prob. 3QCCh. C - Prob. 4QCCh. C - Prob. 5QCCh. C - Centex Sound Systems purchased merchandise...Ch. C - Every transaction recorded in the cash payments...Ch. C - Prob. 8QCCh. C - Prob. 9QCCh. C - What is an accounting information system (AIS)?
Ch. C - Prob. 2RQCh. C - Explain the three basic components of an...Ch. C - Prob. 4RQCh. C - What is the purpose of a subsidiary ledger?Ch. C - Prob. 6RQCh. C - List the four special journals often used in a...Ch. C - Explain the posting process of the sales journal.Ch. C - Provide some examples of transactions that would...Ch. C - Explain the posting process of the cash payments...Ch. C - When is the general journal used in a manual...Ch. C - Prob. 14RQCh. C - Prob. 15RQCh. C - Prob. 16RQCh. C - How would a business record a sale of services on...Ch. C - Prob. 18RQCh. C - Evaluating features of an effective accounting...Ch. C - Prob. C.2SECh. C - Identifying special journals Use the following...Ch. C - Prob. C.4SECh. C - Prob. C.6SECh. C - Prob. C.8SECh. C - Prob. C.9SECh. C - Prob. C.10SECh. C - Posting transactions from a cash payments journal...Ch. C - Prob. C.12SECh. C - Prob. C.13SECh. C - Recording transactions-sales journal Feb. 1 Sold...Ch. C - Prob. C.15ECh. C - Prob. C.16ECh. C - Prob. C.17ECh. C - Prob. C.18ECh. C - Prob. C.19ECh. C - Prob. C.20ECh. C - Prob. C.21ECh. C - Prob. C.22ECh. C - Prob. C.23ECh. C - Prob. C.24APCh. C - Using the purchases, cash payments, and general...Ch. C - Prob. C.26APCh. C - Prob. C.27BPCh. C - Prob. C.28BPCh. C - Prob. C.29BPCh. C - Prob. C.30CPCh. C - Prob. C.31PSCh. C - Prob. 1COPCh. C - Prob. C.1CTDCCh. C - Didrikson Rubin, the auditor of Red Barn Farm...Ch. C - Communication Activity C-1 In 150 words or fewer,...
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