8th Edition

ISBN: 9780078025839

Author: J. David Spiceland

Publisher: McGraw-Hill Education

See similar textbooks

Videos

Textbook Question

Chapter 2, Problem 2.24E

Special journals

• Appendix 2C

The White Company’s accounting system consists of a general journal (GJ), a cash receipts journal (CR), a cash disbursements journal (CD), a sales journal (SJ), and a purchases journal (PJ). For each of the following, indicate which journal should be used to record the transaction.

Transaction	Journal
1. Purchased merchandise on account.	____
2. Collected an account receivable.	____
3. Borrowed $20,000 and signed a note.	____
4. Recorded depreciation expense.	____
5. Purchased equipment for cash.	____
6. Sold merchandise for cash (the sale only, not the cost of the merchandise).	____
7. Sold merchandise on credit (the sale only, not the cost of the merchandise).	____
8. Recorded accrued salaries and wages payable.	____
9. Paid employee salaries and wages.	____
10. Sold equipment for cash.	____
11. Sold equipment on credit.	____
12. Paid a cash dividend to shareholders.	____
13. Issued common stock in exchange for cash.	____
14. Paid accounts payable.	____

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 2, Problem 2.23E

Chapter 2, Problem 2.25E

Students have asked these similar questions

MULTIPLE 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 sales

Using the five journals as named here: • Sales, Purchases, Cash Receipts, Cash Disbursements, and General Using the following as possible column header titles (for vendors use "Ref." and for customers use "Acct. No."): Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or None And using the accounts listed below, record journal entries for the following transactions, which uses the perpetual inventory system: Accounts Payable Merchandise Inventory Sales Accounts Purchases Sales Discounts Receivable Sales Returns and Cash Purchase Discounts Allowances Purchase Returns and Cost of Goods Sold Sales Tax Payable Allowances PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" or if no information is provided, please use "None" - no quotation marks. • On Jun.…

Using the five journals as named here: • Sales, Purchases, Cash Receipts, Cash Disbursements, and General Using the following as possible column header titles (for vendors use "Ref." and for customers use "Acct. No."): • Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., or Ref. And using the accounts listed below, record journal entries for the following transactions, which uses the periodic inventory system: Accounts Payable Merchandise Inventory Sales Accounts Purchases Sales Discounts Receivable Sales Returns and Cash Purchase Discounts Allowances Cost of Goods Purchase Returns and Sales Tax Payable Sold Allowances PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" or if no information is provided, please use "None" - no quotation marks. • On June 3,…

Chapter 2 Solutions

INTERMEDIATE ACCOUNTING

Ch. 2 - Explain the difference between external events and...Ch. 2 - Each economic event or transaction will have a...Ch. 2 - What is the purpose of a journal? What is the...Ch. 2 - Explain the difference between permanent accounts...Ch. 2 - Describe how debits and credits affect assets,...Ch. 2 - Describe how debits and credits affect temporary...Ch. 2 - What is the first step in the accounting...Ch. 2 - Prob. 2.8Q Ch. 2 - Prob. 2.9Q Ch. 2 - Prob. 2.10Q

Ch. 2 - What is an unadjusted trial balance? An adjusted...Ch. 2 - Define adjusting entries and discuss their...Ch. 2 - Define closing entries and their purpose.Ch. 2 - Define prepaid expenses and provide at least two...Ch. 2 - Deferred revenues represent liabilities recorded...Ch. 2 - Define accrued liabilities. What adjusting journal...Ch. 2 - Prob. 2.17Q Ch. 2 - [Based on Appendix A] What is the purpose of a...Ch. 2 - [Based on Appendix B] Define reversing entries and...Ch. 2 - [Based on Appendix C] What is the purpose of...Ch. 2 - Prob. 2.21Q Ch. 2 - Transaction analysis LO21 The Marchetti Soup...Ch. 2 - Journal entries LO22 Prepare journal entries for...Ch. 2 - Prob. 2.3BE Ch. 2 - Journal entries LO22 Prepare journal entries for...Ch. 2 - Adjusting entries LO25 Prepare the necessary...Ch. 2 - Adjusting entries; income determination LO24,...Ch. 2 - BE2–7 Adjusting entries • LO2–5 Prepare the...Ch. 2 - Prob. 2.8BE Ch. 2 - Prob. 2.9BE Ch. 2 - BE2–10 Financial statements The following account...Ch. 2 - Prob. 2.11BE Ch. 2 - Closing entries LO27 The year-end adjusted trial...Ch. 2 - Prob. 2.13BE Ch. 2 - Prob. 2.1E Ch. 2 - Prob. 2.2E Ch. 2 - Prob. 2.3E Ch. 2 - Prob. 2.4E Ch. 2 - Prob. 2.5E Ch. 2 - Debits and credits LO22 Indicate whether a debit...Ch. 2 - Prob. 2.7E Ch. 2 - Prob. 2.8E Ch. 2 - Prob. 2.9E Ch. 2 - Prob. 2.10E Ch. 2 - Prob. 2.11E Ch. 2 - Prob. 2.12E Ch. 2 - Prob. 2.13E Ch. 2 - Prob. 2.14E Ch. 2 - Prob. 2.15E Ch. 2 - Prob. 2.16E Ch. 2 - Prob. 2.17E Ch. 2 - Prob. 2.18E Ch. 2 - Prob. 2.19E Ch. 2 - Prob. 2.20E Ch. 2 - Reversing entries Appendix 2B The employees of...Ch. 2 - Prob. 2.22E Ch. 2 - Prob. 2.23E Ch. 2 - Special journals Appendix 2C The White Companys...Ch. 2 - Prob. 2.25E Ch. 2 - Prob. 1CPA Ch. 2 - Prob. 2CPA Ch. 2 - 3. Compared to the accrual basis of accounting,...Ch. 2 - Prob. 4CPA Ch. 2 - Prob. 5CPA Ch. 2 - Prob. 2.1P Ch. 2 - Prob. 2.2P Ch. 2 - Prob. 2.3P Ch. 2 - Prob. 2.4P Ch. 2 - Prob. 2.5P Ch. 2 - Prob. 2.6P Ch. 2 - Prob. 2.7P Ch. 2 - Prob. 2.8P Ch. 2 - Prob. 2.9P Ch. 2 - P2–10 Accrual accounting; financial...Ch. 2 - Prob. 2.11P Ch. 2 - Prob. 2.12P Ch. 2 - Prob. 2.13P Ch. 2 - Judgment Case 21 Cash versus accrual accounting;...Ch. 2 - Judgment Case 2–2 Cash versus accrual...Ch. 2 - Communication Case 23 Adjusting entries LO24 I...

Knowledge Booster

Learn more about

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.