Account Title Account Number Account Balance Cash 101 15,000.00 Accounts Receivable - Just Bats Accounts Receivable Caps, Inc. Accounts Receivable Kinston Rec. Dept. 10,000.00 5,000.00 5,000.00 102 103 104 120 14,800.00 Computer Equipment Store Fixture 130 10,000.00 202 3,000.00 Accounts Payable - City Mall Accounts Payable Sporting Goods 4 U Accounts Payable Gloves Unlimited Joe Smith, Capital Sarah Smith, Capital Joe Smith, Drawing Sarah Smith, Drawing 203 13,000.00 204 35,000.00 51,500.00 301 302 303 2,000.00 304 3,200.00 T-Shirt Sales 401 Hat Sales 402 13,500.00 24,000.00 520 Salary Expense Rent Expense 525
Q: a. Accounts Payable. 1,830 Cash... 1,830 b. Accounts Receivable. 3,080 Cash.... 3,080 C. Accounts…
A: Accounts receivable Account DR CR Particulars Amount Particulars Amount Cash…
Q: The General Journal Chart of accounts unt Account Name Date Accounts Dr Cr 101 Cash 102 Accounts…
A:
Q: Account Name: ACCOUNTS RECEIVABLE Account No. 110 Balance Date Particulars Post Debit Credit Debit…
A: Account Name: Accounts Receivable Account Number: 110 Balance Date Particulars…
Q: Account Name: CASH Account No. 1000 Particulars Debit Credit Balance Owner's contribution 30,000…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT Cash 265 olo0 Petty Cash Accounts Receivable-Sunshine Café…
A: The shareholders equity details about the capital and drawings of owners. The balance sheet details…
Q: F and H Pharmacy Trial Balance December 31, 2018 Cash 327,500 Account receivable 109,100 Notes…
A: There is a totalling error in a trial balance . Deficit in credit column by P500.
Q: Accounts DEBIT 5728- 118 CREDIT Bank Accounts Receivable Supplies Equipment Accounts Payable Саpkal…
A: Answer: There can be various kinds of errors that may occur in accounting.
Q: Cash No. 101 Date Explanation Ref Debit Credit Balance Apr. 1 JI $20,000 $20,000 $1,500 18,500 JI…
A: Ledgers: It is the main book or principal book of account. It is recording and totaling economic…
Q: Trial Balance December 31 Debit Credit Cash Accounts receivable Merchandise inventory Prepaid…
A: Introduction: Net sales value: Deduction of sales returns and allowances , sales discounts value…
Q: Saved Help Sa The fotowing account balances come from the records of Ourso Company. Accounts…
A: Cash collected from accounts receivables refers to cash to be collected from debtors when credit…
Q: ACCOUNT NAME Debit Credit Debit Credit Debit Credit Debit Credit Debit Cash $9,500 Notes Receivable…
A: The worksheet is prepared on the basis of given adjustments.
Q: Date Account Titles and Explanation Ref. Debit Credit May 5 Accounts Receivable 5,300 Service…
A: Cash is an asset and normally has a debit balance. Accounts receivable is an asset and normally has…
Q: F and H Pharmacy Trial Balance December 31, 2018 Cash 327,500 Account receivable 109,100 Notes…
A: Closing Entries - These are recorded to close the temporary accounts like revenue, Expenses and…
Q: Post the transactions to T-accounts.
A: Cash A/c Date Particular Debit amount Date Particular Credit amount 12 May To Accounts…
Q: Vail Company recorded the following transactions during November. Date General Journal Debit Credit…
A: Accounts receivable general ledger is a common ledger for all the accounts receivables, whereas,…
Q: 11 Cash 12 Accounts Receivable 14 Computer Supplies 18 Equipment 21 Accounts Payable 23…
A: Accounts payable will be debited Cash account will be credited.
Q: REVENUE JOURNAL Date InvoiceNo. Account Debited Post.Ref. Accounts Rec. Dr.Fees Earned Cr. 20Y3…
A: Part a, b and c, which is T accounts, Posting in T account and balance in the accounts are shown as…
Q: Date Accounts title & Explanations Debit S Credit S Sep-01 Cash 20000 Owner's Capital 20000 Sep-02…
A: Journal entry - It refers to the process where the business transactions are recorded in the books…
Q: al balance ! Debit balances Credit balances 10,700 Accounts receivable 23,750 Cash
A: Trial Balance- The balance of all ledgers is combined into equal totals for the columns of the debit…
Q: Cajegas Trucking Services Trial Balance June 30, 208 Debit Credit Cash in Bank Petty Cash Fund…
A:
Q: PARTNERSHIP OPENING ENTRIES On July 1, 20--, Susan Woodworth and Barbara Holly combined their two…
A: Partnership is an agreement between two or more than two partners in which they invest capital, run…
Q: Particulars OMR Opening Balance: Cash 35,000 Sohar bank account 62,000 Khalid (supplier) Loan…
A: Types of Accounts: Assets Account Liabilities Account Capital Account Income or Revenue Account…
Q: General ledgeR Casw DATE BALANCE PARTICULARS DEBIT CREDIT DEBIT CREDIT reaUre pank lpan MAntes…
A: Cash Flow Statement: It is a financial statement that summarizes cash inflows and outflows of a…
Q: ok Chapter 03 b - Problem 3-1 Forms for the accounts in OPJ’s accounting system.) Feb 01 Take $4,000…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Accounts Receivable, beg. 140,000.00; Accounts Receivable, end 75,000.00; Net Sales - 3,500,000.00.…
A: Formula: Cash Collection from Sales on Account = Beginning Accounts receivable + Credit sales -…
Q: Chart of Accounts 11 Cash 12 Accounts Receivable 14 Computer Supplies 18 Equipment 21…
A: Solution: General Journal Date Particulars Debit ($) Credit ($) Equipment A/c 40,000…
Q: Post all the entries in the general journal to the general ledger. PAGE 1 GENERAL JOURNAL DATE…
A: Generel Ledger Account: Cash Account No. 110 DATE ITEM POST REF. DEBIT CREDIT BALANCE…
Q: Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the…
A: T accounts are the general ledger accounts which are prepared for classification of journal entries…
Q: GENERAL DOC. POST. GENERAL NO. REF. DEBIT CREDIT ACCOUNT TITLE M15 120 1,250.00 2 Accounts…
A: Ledger accounts are one step of accounting whereby the entries recorded in the journal are to be…
Q: Account Title Debit Credit Cash 130,115 30,000 Note Receivable Accounts Receivable Allowance for…
A: Income statement is a statement that helps in determining the income or the profit and loss of a…
Q: ACCOUNTS Debir Credit P 5,040 Cash.. Home Office Current . P 21,000 Purchases from outsiders…
A: SOLUTION BRANCH ACCOUNT IS A BOOKEEPING SYSTEM IN WHICH SEPARATE ACCOUNTS ARE KEPT FOR EACH BRANCH…
Q: Accounts Debit (OMR) Cash 120,000 Capital Prepaid insurance 5600 Salary expense 1000 Service Reveny…
A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…
Q: Debit Credit Account Tittle Acc No Cosh in Bank Accants Receivalle Urused Laundry Supplies Prepad…
A: At the end of the accounting period, the closing entries are used to close the temporary accounts.…
Q: Account Tit Debit Credit AN Debit AR Credit Debit Credit 189.000 15,000 212.000 12.000 50.000 60.000…
A: The financial statements include the income statement and balance sheet of the firm.
Q: The Accounts Payable account of Waterford, Inc. has the following postings: Accounts Pay able 17,000…
A: Accounts payable is a liability of the business. This account is credited when we make any purchase…
Q: 5) Insert the following account opening balances: Account no. Account name Debit Credit 1-1110…
A: T-accounts are the ledger accounts whereby the transactions recorded in the journal are posted.
Q: NKUMBA UNIVERSITY FUNDAMENTALS OF ACCOUNTING Revision Questions Question 1 As at 30.3.20X7, your…
A: Working Effect of Transaction on 31.03.20X7 on ledger A/c PURCHASE A/C PARTICULAR AMOUNT…
Q: Identify postings from cash payments journalUsing the following cash payments journal, identify each…
A: Under the financial accounting system, the financial transactions are first recorded in the journal…
Q: Britgeport Coruse he percentige-otreceivablesbasis to record Accounts recelvable lending balance…
A: The net realizable value is calculated as difference between account receivables and allowance for…
Q: Account Title: Cash Date Dec 1 Dec 2 Particulars Capital Professional Fees Dec 8 Loan Payable Dec 31…
A: The trial balance is prepared to record the final balance of each account of the business in debit…
Q: DATE ACCOUNT TITLE DEBIT CREDIT 1| Нyve, Capital P1000 Cash P1000 10 Kit Inclusions 750 Cash 750 12…
A: The ledger accounts are prepared to post the journal entries to the specific accounts of the…
Q: Please answer following question Q5: Company Name Net Credit Sales Beginning Net Receivables…
A: The performance in terms of managing accounts receivable can be measured with the help of Accounts…
Q: or each of the following transactions make the required entries in the General Journal: (See the…
A: Step 1 “Since you have posted a question with multiple sub-parts, we will solve first three subparts…
Q: Particular P.R Debit Credit Date 85000000 March 4 Ca sh in Bank E. Copper, CapitalL Initial…
A:
Q: MUKISLAP DRY CLEANERS Trial Balance June 30, 2008 Account Debit Credit Account Titles No. 101 112…
A: Hi student Since there are multiple subparts, we will answer only first three subparts. Journal…
Q: Chart of Accounts 11 Cash 12 Accounts Receivable 14 Computer Supplies 18 Equipment 21…
A: Journal entry: Journal entry means keeping or making records of any transactions done by business.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Journalizing Purchases Returns and Allowances and Posting to General Ledger and Accounts Payable Ledger Transactions for July and the beginning balances for selected general ledger and accounts payable ledger accounts are shown. July 7 Returned merchandise to Starcraft Industries, $750. 15 Returned merchandise to XYZ, Inc., $530. 27 Returned merchandise to Datamagic, $820. General Ledger Account No. Account Balance July 1, 20-- 202 Accounts Payable $10,640 501.1 Purchases Returns and Allowances Accounts Payable Ledger Name Balance July 1, 20-- Datamagic $2,680 Starcraft Industries 4,310 XYZ, Inc. 3,650 Required: Using page 3 of a general journal and the general ledger accounts and accounts payable ledger accounts, journalize and post the transactions. GENERAL JOURNAL PAGE 3 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Jul. 7 Jul. 15 Jul. 27 GENERAL LEDGER ACCOUNT Accounts Payable ACCOUNT NO. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jul. 1 Balance 10,640.00Le Univ of Mass * Cengage D: A QuickLaunch K myCourses Da: x In Federa x UMassD Logor x ucation.com Saved ework View transaction list Journal entry worksheet 10 earch 近Print Item From the data below for Wong Company, prepare the closing entries for the year ended December 31. Cash dividends $47,000 Sales 982,600 Sales returns and allowances 3,960 Interest revenue 10,521 Factory overhead (debit) 210,620 Factory overhead (credit) 210,620 Cost of goods sold 726,820 Wages expense 130,745 Supplies expense 9,900 Depreciation expense-office equipment 6,900 Utilities expense 5,840 Bad debt expense 1,680 Advertising expense 11,120 Interest expense 9,860 Income tax expense 32,050 If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT
- question General ledger Debit Credit Balance 01.11.20 50,000 31.12.20 Rental Revenue 6000 56,000 31.12.20 Rental Revenue 1800 57,800 01.01.21 Rental Revenue 6,000 51,800 Kindly show me the T Accounts for the above general ledger.A ezto.mheducation.com estion-1-73A - Connect Data Sales.xlsx: fa21cob204 Computer Information Systems Saved Не Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com The following account balances come from the records of Ourso Company. Accounts receivable Allowance for doubtful accounts Beginning Balance $ 2,914 104 Ending Balance $ 3,805 208 During the accounting period, Ourso recorded $12,500 of sales revenue on account. The company also wrote off a $177 account receivable, Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of uncollectible accounts expense recognized during the period. Uncollectible accounts expense 104 X MacBook Pro @ 2# % & 3 4 6 8…Content Question 7 of 8 com/was/ui/v2/assessment-player/index.html?launchId=822123d0-f06e-40f1-aecf-7add80e089e1#/question/6 X WP NWP Assessment Builder Ul App X View Policies Current Attempt in Progress The following are a series of unrelated situations. Accounts receivable A Net sales Answer the questions relating to each of the five independent situations as requested. 1. Skysong Company's unadjusted trial balance at December 31, 2025, included the following accounts. Allowance for doubtful accounts Debit Bad debt expense for 2025 $ $54,800 6,910 WP NWP Assessment Player Ul Appli X Credit $1,267,000 + -/4 = : Skysong Company estimates its bad debt expense to be 7% of gross accounts receivable. Determine its bad debt expense for 2025.
- engageNOWv2 | Online teachir X * CengageNOWv2| Online teachir x .com/ilrm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre. * A eBook Show Me How Accounts Receivable Analysis A company reports the following: Sales $671,600 Average accounts receivable (net) 67,160 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days Previous Next Check My Work 11:16 AM 67°F Sunny A O E D a ) 12/3/2021 n sc hone backsocePA5. 7.4 Brown Inc. records purchases in a purchases journal and purchase returns in the general journal. Record the following transactions using a purchases journal, a general journal, and an accounts payable subsidiary ledger. The company uses the periodic method of accounting for inventory. Oct.1 Purchased inventory on account from Price Inc. for $2,000 Oct.1 Purchased inventory on account from Cabrera Inc. for $3,000 Oct.8 Returned half of the inventory to Price Inc. Oct.9 Purchased inventory on account from Price Inc. for $4,200Identify 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
- |Federa X M UMassD Logor X E QuickLaunch K myCourses Da: X 4 Univ of Mass Ceng cation.com Saved ework i View transaction list Journal entry worksheet arch 近MUMassD Logor X E Quicklaunch - x K. myCourses Da: X Se Univ of Mass - X Ceng g In | Federa x ducation.com Saved mework View transaction list Journal entry worksheet 1 3 4 8 9 10 Provided $57,971 in service to customers during the year, with $21,658 on account and the rest received in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 0 日 searchAccounts Receivable Subsidiary Ledger The debits and credits from two transactions are presented in the following customer account: NAME Horizon Entertainment ADDRESS 125 Wycoff Ave. Debit Credit Date Item Post. Ref. Balance Feb. 1 Balance 280 Feb. 22 Invoice No. 422 CR106 120 160 Feb. 27 Invoice No. 445 R92 170 330 Select the choice that describes each transaction and the source of each posting. Journal page Date Action Invoice No. Posted From Feb. 22 Feb. 27