Principles of Accounting
12th Edition
ISBN: 9781133626985
Author: Belverd E. Needles, Marian Powers, Susan V. Crosson
Publisher: Cengage Learning
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Chapter 6S, Problem 3P
1, 5, and 6.
To determine
Prepare a sales journal, purchases journal, a cash receipts, a cash payments journal, and a general journal, post the given transactions in the journals, and foot and crossfoot the journals.
2, 5, and 6.
To determine
Prepare general
3 and 5.
To determine
Prepare
4 and 5.
To determine
Prepare accounts payable subsidiary ledger accounts for C Books Inc., L Books, M Shippers, and P Publishing Company and post the transactions.
7.
To determine
Prepare a
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Catherine’s Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger?
Record the following transactions in the sales journal:
Jan. 15
Invoice # 325, sold goods on credit for $2,400, to Maroon 4, account # 4501
Jan. 22
Invoice #326, sold goods on credit for $3,500 to BTS, account # 5032
Jan. 27
Invoice #327, sold goods on credit for $1,250 to Imagine Fireflies, account # 3896
Record the following transactions in the cash receipts journal.
Jun. 12
Your company received payment in full from Jolie Inc. in the amount of $1,715 for merchandise purchased on June 4 for $1,750, invoice #1032. Jolie Inc. was offered terms of 2/10, n/30. Record the payment.
Jun. 15
Portman Inc. mailed you a check for $2,600. The company paid for invoice #1027, dated June 1, in the amount of $2,600, terms offered 3/10, n/30.
Jun. 17
Your company received a refund check (its check #12440) from the State Power Company because you overpaid your electric bill. The check was in the amount of $62. The Utility Expense account number is #450. Record receipt of the refund.
If an amount box does not require an entry, leave it blank.
CASH RECEIPTS JOURNAL
Page: 24
Date
Account
InvoiceNo.
Ref.
CashDR
SalesDiscountsDR
AccountsReceivable,Sales, orotheraccounts CR
2019
Jun. 12
fill in the blank 3
fill in the blank 4
fill in the blank 5
fill in the blank 6
Jun. 15…
The accounting records and bank statement of Jeff's Seashell Store provide the following information at the end of April. The closing 'Cash' account balance was $29000, and the bank statement shows a closing balance of $31000. On reviewing the bank statement it is found an account customer has deposited $2500 into the bank account for a March sale and the monthly insurance premium of $550 was automatically charged to the account. Interest of $1500 was paid by the bank and a bank fee of $50 was charged to the account. A payment of $950 to a supplier has been recorded twice in the accounts. After the calculation of the "ending reconciled cash balance", what is the balance of the 'cash' account?A. 33,350 B. None of the other answers C. 31,450 D. 29,000 E. 35,350
Chapter 6S Solutions
Principles of Accounting
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