FUND.ACCT.PRIN.
25th Edition
ISBN: 9781260247985
Author: Wild
Publisher: RENT MCG
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Chapter 3, Problem 20E
To determine
Introduction: The financial statements of a company include a balance sheet, income statement, and
To record: The
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Presented below is information related to Sheridan Company for its first month of operations.
Jan. 06
Jan. 10
Jan. 23
Balance
of
Credit Purchases
Gorst Company
Tian Company
Accounts
Payable
$9,000
11,800
Maddox Company 12,300
$
Gorst Company
Jan. 11
Determine the balances that appear in the accounts payable subsidiary ledger. What Accounts Payable balance appears in the general
ledger at the end of January?
$
Jan. 16
Jan. 29
Cash Paid
Gorst Company
Tian Company
Maddox Company
Subsidary Ledger
Tian Company
69
$6,800
11,800
7,400
$
Maddox Company
$
General Ledge
Revenue and Cash Receipts Journals
Transactions related to revenue and cash receipts completed by Augusta Inc. during the month of March 20Y8 are as follows:
Mar. 2.
Issued Invoice No. 512 to Santorini Co., $1,095.
4.
Received cash from CMI Inc., on account, for $275.
8.
Issued Invoice No. 513 to Gabriel Co., $385.
12.
Issued Invoice No. 514 to Yarnell Inc., $965.
19.
Received cash from Yarnell Inc., on account, $735.
20.
Issued Invoice No. 515 to Electronic Central Inc., $210.
28.
Received cash from Marshall Inc. for services provided, $155.
29.
Received cash from Santorini Co. for Invoice No. 512 of March 2.
31.
Received cash from McCleary Co. for services provided, $90.
Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Enter the transactions in chronological order.
Question Content Area
REVENUE JOURNAL
PAGE 8
DATE
Invoice No.
Account Debited
Post. Ref.…
Revenue and Cash Receipts Journals
Transactions related to revenue and cash receipts completed by Augusta Inc. during the month of March 20Y8 are as follows:
Mar. 2.
Issued Invoice No. 512 to Santorini Co., $2,135.
4.
Received cash from CMI Inc., on account, for $475.
8.
Issued Invoice No. 513 to Gabriel Co., $520.
12.
Issued Invoice No. 514 to Yarnell Inc., $1,985.
19.
Received cash from Yarnell Inc., on account, $1,305.
20.
Issued Invoice No. 515 to Electronic Central Inc., $455.
28.
Received cash from Marshall Inc. for services provided, $380.
29.
Received cash from Santorini Co. for Invoice No. 512 of March 2.
31.
Received cash from McCleary Co. for services provided, $195.
Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Enter the transactions in chronological order.
Chapter 3 Solutions
FUND.ACCT.PRIN.
Ch. 3 - Periodic reporting C1 Choose from the following...Ch. 3 - Prob. 2QSCh. 3 - Identifying accounting adjustments Classify the...Ch. 3 - Concepts 0f adjusting entries During the year, a...Ch. 3 - Prepaid (deferred) expenses adjustments Pl For...Ch. 3 - Prepaid (deferred) expenses adjustments For each...Ch. 3 - Prob. 7QSCh. 3 - Accumulated depreciation adjustments Pl For each...Ch. 3 - Adjusting for depreciation P1 For each separate...Ch. 3 - Unearned (deferred) revenues adjustments For each...
Ch. 3 - Adjusting for unearned (deferred) revenues P2 For...Ch. 3 - Accrued expenses adjustments Pl For each separate...Ch. 3 - Prob. 13QSCh. 3 - Accrued revenues adjustments P4 For each separate...Ch. 3 - Recording and analysing adjusting entries A1...Ch. 3 - QS3-16
Determining effects of adjusting...Ch. 3 - Preparing an adjusted trial balance P5 Following...Ch. 3 - Prob. 18QSCh. 3 - Prob. 19QSCh. 3 - Prob. 20QSCh. 3 - Preparing adjusting entries P4 Garcia Company had...Ch. 3 - Preparing adjusting entries P4 Cal Consulting...Ch. 3 - Prob. 1ECh. 3 - Prob. 2ECh. 3 - Prob. 3ECh. 3 - Prob. 4ECh. 3 - Prob. 5ECh. 3 - Exercise 3-6 Preparing adjusting entries P1 P2 P3...Ch. 3 - Prob. 7ECh. 3 - Prob. 8ECh. 3 - Prob. 9ECh. 3 - Prob. 10ECh. 3 - Prob. 11ECh. 3 - Prob. 12ECh. 3 - Exercise 3-14 Preparing adjusting entries P1 P2 P3...Ch. 3 - Prob. 14ECh. 3 - Prob. 15ECh. 3 - Prob. 16ECh. 3 - Prob. 17ECh. 3 - Prob. 18ECh. 3 - Prob. 19ECh. 3 - Prob. 20ECh. 3 - Problem 3-1A Identifying adjusting entries with...Ch. 3 - Problem 3-2B Preparing adjusting and subsequent...Ch. 3 - Problem 3-3A Preparing adjusting entries, adjusted...Ch. 3 - Problem 3-5A Preparing financial statements from...Ch. 3 - Problem 3-6A
Recording prepaid expenses and...Ch. 3 - Prob. 1PSBCh. 3 - Problem 3-2B Preparing adjusting and subsequent...Ch. 3 - Problem 3-3B Preparing adjusting entries, adjusted...Ch. 3 - Problem 3-5B Preparing financial statements from...Ch. 3 - Problem 3-6B Recording prepaid expenses and...Ch. 3 - Prob. 3SPCh. 3 - Prob. 1GLPCh. 3 - Using transactions from the following assignments,...Ch. 3 - Using transactions from the following assignments,...Ch. 3 - Prob. 4GLPCh. 3 - Prob. 5GLPCh. 3 - Prob. 1AACh. 3 - Key figures for the recent two years of both Apple...Ch. 3 - Key comparative figures for Samsung. Apple, and...Ch. 3 - Prob. 1DQCh. 3 - Why is the accrual basis of accounting generally...Ch. 3 - Prob. 3DQCh. 3 - What is a prepaid expense and where is it reported...Ch. 3 - What type of assets requires adjusting entries to...Ch. 3 - 6. What contra account is used when recording and...Ch. 3 - What is an accrued revenue? Give an example..Ch. 3 - 8. If a company initially records prepaid expenses...Ch. 3 - Prob. 1BTNCh. 3 - Prob. 2BTNCh. 3 - Access EDGAR online (SEC.gov) and locate the...Ch. 3 - Prob. 4BTN
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