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.9SE
1.
To determine
The total balance of each column of the purchases journal.
2.
To determine
To post: The transactions to the accounts payable subsidiary ledger.
3.
To determine
To post: The total of each column to the general ledger.
4.
To determine
The total balance of vendor in the accounts payable subsidiary ledger and match it with the total balance of accounts payable in the general ledger.
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Directions: Fill in the blanks with the correct accounting term/s. Choose the answers
from the box below and write them on a separate sheet of paper.
General ledger
Compound Entry
Chronologicnl
Subsidiary ledger
Cash Receipts Journal
Purchase Journal
Cash Disbursement Journal
Ledger
Special Journal
Journalizing
Simple entry
Special Journal
Date
Communicating
Description Column
1. Entering transaction data in the joumal is known as.
2. An entry that requires three or more accounts is called
3. An entry that only involves one debit and one credit is known as
4. Recording transactions involving receipt or collection of cash is called
5. The journal where all cash payments are recorded is known as
6. The accounting book in which the accounts and their related amounts are
recorded in the journal is referred to as
7. The grouping of all accounts used in the preparation of financial statements
is called
8. The group of accounts containing the independent data of a specific general
ledger is…
Identify Postings from Purchases Journal
Using the following purchases 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:
PURCHASES JOURNAL
Page 49
Date
Account Credited
Post.Ref.
AccountsPayableCr.
StoreSuppliesDr.
OfficeSuppliesDr.
OtherAccountsDr.
Post.Ref.
Amount
20Y9
Jan. 4
Coastal Equipment Co.
(a)
5,325
Warehouse Equipment
(g)
5,325
Jan. 6
Arrow Supply Co.
(b)
4,000
4,000
Jan. 9
Valley Products
(c)
1,875
1,600
275
Jan. 14
Office Warehouse
(d)
2,200
Office Equipment
(h)
2,200
Jan. 20
Office Warehouse
(e)
6,000
Store Equipment
(i)
6,000
Jan. 25
Metro Supply Co.
(f)
2,740
2,740
Jan. 30
22,140
4,340
4,275
13,525
(j)
(k)
(l)
(m)
Post reference represents:
a.
b.
c.…
In the Payments Journal window, invoices being paid will display the:
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to sele
a
b
с
d
Number of items sold on the invoice.
The transaction due date.
Credit terms.
All of the above.
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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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning balance in Accounts Receivable is 3,900. Beginning balances in selected customer accounts are Adams, 850; Greene, 428; and Phillips, 1,018.arrow_forwardIndicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases journal.arrow_forwardUsing the following purchases 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:arrow_forward
- Use the journals and ledgers that follows. Total and rule (draw a line under the column of numbers) the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of Accounts Payable.arrow_forwardComplete this question by entering your answers in the tabs below. Analyze General Joumal T accounts Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must use a right side date selection. For left side T- account entries you must use a left side date selection.) Cash 101 Office Supplies 124 Date Amount Date Amount Date Amount Date Amount End. bal. End. bal. Equipment 167 Accounts Payable 201 Date Amount Date Amount Date Amount Date Amount End. bal. End. bal. Unearned Landscaping Revenue 236 Common Stock 307 Date Amount Date Amount Date Amount Date Amount End. bal. End. bal. Landscaping Revenue 403 Date Amount Date Amount End. bal. Caneral lournal reountsarrow_forwardA. Prepare for the month of september 2012 the I. Purchases ledger control account II. Sales ledger control account B.state three functions of control accountsarrow_forward
- The individual amounts in the "Accounts Payable" column of the purchases journal are posted to the appropriate account in the A. general ledger B. general journal C. accounts payable ledger D. accounts receivable ledgerarrow_forwardConstruct a Purchase Ledger Control Account, using your own numerical example, with five items of your choicearrow_forwardIn June 2021, Chan Lee opened a photography studio that provides services to public and private schools. His firm's Chart of Accounts and financial activities for the first month of operations appear below: Chan Lee Photography Studio Chart of Accounts ASSETS REVENUE 101 Cash 404 Service Fees 111 Accounts Receivable EXPENSES Rent Expense Salaries Expense Telephone Expense Utilities Expense Miscellaneous Expense Supplies Office Furniture 121 511 141 512 Office Equipment Photographic Equipment LIABILITIES 142 513 151 514 531 202 Accounts Payable OWNER’S EQUITY Chan Lee, Capital Chan Lee, Drawing 301 302 Date Transactions June 1 Chan Lee invested P300,000 cash in the business. 2 Issued Check # 1001 for P30,000 to pay the June rent. 5 Purchased desks and other office furniture for P50,000 from Office Plus; received Invoice # 5312, payable in 60 days. 6 Issued Check # 1002 for P150,000 to purchase photographic equipment. 7 Purchased photography supplies for P40,000, paid with Check # 1003.…arrow_forward
- Indicate which department—accounts payable, cash disbursements, data processing, purchasing, inventory, or receiving—has ownership over the following files and registers:a. open purchase order fileb. purchase requisition filec. open purchase requisition filed. closed purchase requisition filee. inventoryf. closed purchase order fileg. valid vendor fileh. voucher registeri. open vouchers payable filej. receiving report filek. closed voucher filel. check register (cash disbursements journal)arrow_forwardMULTIPLE CHOICE 1. The entries in a purchases journal are posted to which of the following subsidiary ledger? A. Accounts Receivable B. Sales C. Purchases D. Accounts payable 2. The accounts payable ledger has posting from which of the following sets of journal? A. Purchases, cash payments and general B. Purchases, cash receipts and general C. Purchases and sales D. Cash payments and salesarrow_forwardIdentify the special journal(s) in which the following column headings appear. Column Headings Special Journals a. Accounts Payable Dr. Purchases JournalCash Receipts Journal and Cash Payments Journal and Sales JournalCash Receipts JournalGeneral JournalCash Payments JournalCash Payments Journal and Sales JournalCash Receipts Journal and Purchases JournalSales Journal b. Cash Cr. Sales JournalCash Payments JournalCash Receipts Journal and Purchases JournalCash Receipts Journal and Cash Payments Journal and Sales JournalPurchases JournalGeneral JournalCash Receipts JournalCash Payments Journal and Sales Journal c. Inventory Cr. Cash Receipts Journal and Cash Payments Journal and Sales JournalGeneral JournalCash Receipts Journal and Purchases JournalPurchases JournalCash Receipts…arrow_forward
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