HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
7th Edition
ISBN: 9780136505273
Author: MILLER-NOBLES
Publisher: PEARSON
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Question
Chapter 2, Problem 2.41CP
(1)
To determine
To prepare:
Introduction: The financial statements of a company include the
(2)
To determine
To prepare: The T-accounts for each item.
Introduction: The financial statements of a company include the balance sheet, income statement, and cash flow statement. All these statements help the internal and external users of financial statements help in analyzing and concluding the financial position of the respective company.
(3)
To determine
To record: The journal entries to T-accounts.
Introduction: The financial statements of a company include the balance sheet, income statement, and cash flow statement. All these statements help the internal and external users of financial statements help in analyzing and concluding the financial position of the respective company.
(4)
To determine
To prepare: The
Introduction: The financial statements of a company include the balance sheet, income statement, and cash flow statement. All these statements help the internal and external users of financial statements help in analyzing and concluding the financial position of the respective company.
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Students have asked these similar questions
Journalizing transactions and posting to T-accounts
Roland Poster Optical Dispensary completed the following transactions during the latter part of March:
Requirements
Journalize the transactions of Roland Foster Optical Dispensary. Include an explanation with each journal entry.
Open the following accounts (use T-account format): Cash (Beginning Balance of $21,000), Office Supplies, and Accounts Payable. Post the journal entries from Requirement 1 to the accounts, and compute the balance in each account.
Accounting
The following cash, credit stock purchases and returns were made RMIT Bookstore during June.
Date
Details
Amount (incl GST)
June 2 Purchase from Diane
June 8 Purchase from Bean
June 18 Return to Diane
June 23 Return to Bean
June 28 Cash Purchases
June 29 Paid Bean
$ 550
$ 198
$ 66
$ 4
$ 693
$ 154
Task 8
Required:
Record the transactions in the General Journal.
Post the General Ledger and Subsidiary Ledger.
Reconcile the Payables Ledger with the General Ledger.
Answer:
General Journal - RMIT Bookstore
Date
Particulars
Debit
Credit
General Ledger - RMIT Bookstore
Bank
Date
Particulars
Debit
Credit
Balance
Inventory
Date
Particulars
Debit
Credit
Balance
GST Paid
Date
Particulars
Debit
Credit
Balance
Accounts Payable
Date
Particulars
Debit
Credit
Balance
Payables Subsidiary Ledger - RMIT Bookstore
Bean
Date
Particulars
Debit
Credit
Balance
Diane
Date
Particulars
Debit
Credit
Balance
Payables Subsidiary Reconciliation - RMIT Bookstore
Diane
Balance per Control Account
Study the information in the ledger accounts given below and answer the questions that
ACTIVITY 2.14
year
INSTRUCTIONS:
follow:
a) Show all workings
b) The accounting period ends on 28 February.
NOTE:
1. INFORMATION:
Dit,
GENERAL LEDGER OF DANKER TRADERS
1.1
BALANCE SHEET ACCOUNTS SECTION
H/W
EQUIPMENT
DR.
20.6
Sept
CR.
1 Bank
Creditors Control
20.7
200 000 Feb
60 000
260 000
28 Balance
c/d
260 000
CR.
260 000
20.7
20.7
1 Balance
b/d
March
20.7
260 000 Sept
?
20.8
1 Bank
100 000
360 000
Sept
Feb
28 Balance
c/d 300 000
360 000
CR.
20.8
Mar
1 Balance
b/d 300 000
DR.
ACCUMULATED DEPRECIATION ON EQUIPMENT
CR.
20.7
28 Depreciation
20.7
Sept
20.8
Feb 28
20.7
Sept
R.
1 Assets Disposal
?
Feb
?
NOMINAL ACCOUNTS SECTION
LOSS ON SALE OF ASSETS
CR.
DR.
20.7
Sept
1 600
1 Assets Disposal
1.2
Additional Information:
Depreciation is provided for annually at 20 % on the diminishing balance method.
Grade 11 Learners book
New Generation Accounting Grade 11
Chapter 2 Solutions
HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
Ch. 2 - The detailed record of the changes in a particular...Ch. 2 - Which of the following accounts is a liability? a....Ch. 2 - The left side of an account is used to record...Ch. 2 - Which of the following statements is correct? a....Ch. 2 - Prob. 5QCCh. 2 - Prob. 6QCCh. 2 - Posting a 2,500 purchase of office supplies on...Ch. 2 - Prob. 8QCCh. 2 - Which sequence correctly summarizes the accounting...Ch. 2 - Nathville Laundry reported assets of 800 and...
Ch. 2 - Identify the three categories of the accounting...Ch. 2 - What is the purpose of the chart of accounts?...Ch. 2 - What does a ledger show? Whats the difference...Ch. 2 - Prob. 4RQCh. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - When are credits increases? When are credits...Ch. 2 - Prob. 8RQCh. 2 - What are source documents? Provide examples of...Ch. 2 - Prob. 10RQCh. 2 - Explain the five steps in journalizing and posting...Ch. 2 - Prob. 12RQCh. 2 - Prob. 13RQCh. 2 - What is the purpose of the trial balance?Ch. 2 - Prob. 15RQCh. 2 - If total debits equal total credits on the trial...Ch. 2 - What is the calculation for the debt ratio?...Ch. 2 - Identifying accounts Consider the following...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying normal balances For each account,...Ch. 2 - Prob. 2.4SECh. 2 - Prob. 2.5SECh. 2 - Prob. 2.6SECh. 2 - Prob. 2.7SECh. 2 - Prob. 2.8SECh. 2 - Prob. 2.9SECh. 2 - Using accounting vocabulary March the accounting...Ch. 2 - Creating a chart of accounts Raymond Autobody Shop...Ch. 2 - Identifying accounts, increases in accounts, and...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying source documents For each transaction,...Ch. 2 - Analyzing and journalizing transactions As the...Ch. 2 - Prob. 2.17ECh. 2 - Prob. 2.18ECh. 2 - Analyzing transactions from T-accounts The first...Ch. 2 - Prob. 2.21ECh. 2 - Prob. 2.22ECh. 2 - Prob. 2.23ECh. 2 - Prob. 2.24ECh. 2 - Prob. 2.25ECh. 2 - Prob. 2.26ECh. 2 - Prob. 2.27ECh. 2 - Prob. 2.28ECh. 2 - Prob. 2.29APCh. 2 - Prob. 2.30APCh. 2 - Prob. 2.31APCh. 2 - Prob. 2.32APCh. 2 - Prob. 2.33APCh. 2 - Prob. 2.34APCh. 2 - Prob. 2.35BPCh. 2 - Prob. 2.36BPCh. 2 - Prob. 2.37BPCh. 2 - Prob. 2.38BPCh. 2 - Prob. 2.39BPCh. 2 - Prob. 2.40BPCh. 2 - Prob. 2.41CPCh. 2 - Prob. 2.42PSCh. 2 - Prob. 2.1CTDCCh. 2 - Prob. 2.1CTEICh. 2 - Prob. 2.1CTFCCh. 2 - Prob. 2.1CTCA
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