Horngren's Accounting (12th Edition)
12th Edition
ISBN: 9780134486444
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 7, Problem E7.22E
Identifying transactions in the accounts payable subsidiary ledger
Learning objective 3
A vendor account in the account payable subsidiary ledger of frost company follows.
| LARRY CARPENTER | |||||
| Balance | |||||
| Date | Post. Ref. | Debit | Credit | Debit | Credit |
| Dec. 1 | 1,800 | ||||
| 12 | P.4 | 2,340 | 4,140 | ||
| 20 | J. 10 | 200 | 3,940 | ||
| 29 | CP.6 | 1,500 | 2,440 | ||
Describe the three
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Identify 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
Export PDF as long image without watermark
Export
FUNDAMENTALS OF ACCOUNTANCY BUSINESS AND MANAGEMENT 2
Self-Learning Activity 9
Name
Year/Block:
Date
Direction: Write your answers on the space provided at the back of this Self Learning Activity.
Learning Objective:
After reading the module, the learners shall be able to:
4. Describe the nature of a bank reconciliation statement.
5. Identify common reconciling items and describe each of them.
6. Analyze the effects of the identified reconciling items.
Reference: Quarter 1 Module 9 – Fundamentals of Accountancy, Business and Management 2
LEARNING ACTIVITY 9:1
Presented hereunder are the details of your Cash Receipts Journal, Cash Disbursements Journal and the Bank
Statement of Banco de Oro.
Cash Receipts Journal
O.R. Number
Amount
Payor
Odessa Alera
Date
0001
P 30,000
June 3
0002
0003
20,000
5,000
20
Arnold Navales
29
Juanita Nambatac
0004
10,000
30
Kyle Jamora
Cash Disbursements Journal
Check Number
Amount
Payee
Star 5 Grocery
DX…
okmarks
Window
Help
A v2.cengagenow.com
Tech.
B Learning Module 8 - ACCT1105: Financial Acc.
X CengageNOWw2 | Ontine teaching and learnin
Cengage Learning
еВook
Show Me How
Accounts Receivable Analysis
A company reports the following:
Sales
$1,460,000
Average accounts receivable (net)
100,000
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
Save and Exit
Submit Assignment for Grading
All work saved.
tv
16
MacBook Air
DII
DD
F9
80
F8
F7
F5
F6
F4
F3
*
&
2#
$
7
8
4
Y
[
E
T
J
K
....
Chapter 7 Solutions
Horngren's Accounting (12th Edition)
Ch. 7 - Which of the following benefits of an effective...Ch. 7 - Prob. 2QCCh. 7 - Which of the following is not a special journal?...Ch. 7 - Mountain Day Spa sold merchandise inventory on...Ch. 7 - Prob. 5QCCh. 7 - Centex Sound Systems purchased merchandise...Ch. 7 - Every transaction recorded in the cash payments...Ch. 7 - Prob. 8QCCh. 7 - Which is a disadvantage of an enterprise resource...Ch. 7 - Prob. 1RQ
Ch. 7 - Prob. 2RQCh. 7 - Explain the three basic components of an...Ch. 7 - What is a special journal?Ch. 7 - What is the purpose of a subsidiary ledger?Ch. 7 - Prob. 6RQCh. 7 - List the four special journals often used in a...Ch. 7 - Explain the posting process of the sales journal.Ch. 7 - Provide some examples of transactions that would...Ch. 7 - What are the columns that are typically used in...Ch. 7 - Prob. 11RQCh. 7 - When is the general journal used in a manual...Ch. 7 - Explain the two components of a computerized...Ch. 7 - Prob. 14RQCh. 7 - What is an enterprise resource planning (ERP)...Ch. 7 - Prob. 16RQCh. 7 - How would a business record a sale of services on...Ch. 7 - How would a business record a bill received in...Ch. 7 - Prob. S7.1SECh. 7 - Defining components of an accounting information...Ch. 7 - Identifying special journals Learning Objective 2...Ch. 7 - Prob. S7.4SECh. 7 - Posting transactions from a sales journal to a...Ch. 7 - Prob. S7.6SECh. 7 - Posting transactions from a cash receipts journal...Ch. 7 - Recording transactions in a purchases journal...Ch. 7 - Posting transactions from a purchases journal to a...Ch. 7 - Prob. S7.10SECh. 7 - Prob. S7.11SECh. 7 - Prob. S7.12SECh. 7 - Prob. S7.13SECh. 7 - Prob. E7.14ECh. 7 - Prob. E7.15ECh. 7 - Using the sales and cash receipts journals...Ch. 7 - Prob. E7.17ECh. 7 - Prob. E7.18ECh. 7 - Prob. E7.19ECh. 7 - Recording transactions-cash payments journal...Ch. 7 - Posting from the purchases journal; balancing the...Ch. 7 - Identifying transactions in the accounts payable...Ch. 7 - Prob. E7.23ECh. 7 - Prob. P7.24APGACh. 7 - Prob. P7.25APGACh. 7 - Prob. P7.26APGACh. 7 - Prob. P7.27BPGBCh. 7 - Using the purchases, cash payments, and general...Ch. 7 - Using all Journals, posting, and balancing the...Ch. 7 - Continuing Problem P7-3D Using aft journals This...Ch. 7 - Using all journals 2 This problem continues the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Comprehensive Problem for Chapter 7 Completing the...Ch. 7 - Tying It All Together Case Before you begin this...Ch. 7 - Decision Case 7-1 A fire destroyed certain...Ch. 7 - Fraud Case 7-1 Didrikson Rubin, the auditor of Red...
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.Similar questions
- Accounts 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. 27arrow_forwardJOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning balance in Accounts Receivable is 3,900. Beginning balances in selected customer accounts are Adams, 850; Greene, 428; and Phillips, 1,018.arrow_forwardAccounts Receivable Subsidiary Ledger The debits and credits from two transactions are presented in the following customer account: Mobility Products Inc. NAME 46 W. Main St. ADDRESS Debit Date Item Post. Ref. Credit Balance Aug. 1 Balance 463 Aug. 10 Invoice No. 51 CR32 84 379 143 Aug. 17 Invoice No. 45 R22 522 Select the choice that describes each transaction and the source of each posting. Journal page Date Action Invoice No. Posted From Aug. 10 Aug. 17arrow_forward
- Create a Ledger for the Journal Entry General Journal Page 1 Date Description Post Ref. Dr Cr 2023 Mar. 2 Cash 750 Account Receivables 750 To record payment for AR 4 Cash 170 Account Receivables 170 To record payment for AR 6 Account Receivables 1755 Sales 1755 To record Sales 7 Account Receivables 620 Sales 620 To record Sales Cash 875 Sales 875 To record Sales Promotion 690 Cash 690 To record payment for promotion 8 Cash 215 Account Receivables 215 To record payment for AR Promotion 215 Cash 215 To record payment for promotion Purchase 2017 Cash 2017 To record purchase of tshirts w/df 9 Promotion 700 Cash 700 To record payment for promotion 10 Account…arrow_forwardPears X P W Chapter: Recording Business TraNSACTIONS Sep. 1 hed:course:7710589/products/79c3fa4c-a84f-42ba-b87a-e36a400bca00/pages/urn:pe 6 7 Proble X P-F:2-30A. Journalizing transactions, posting journal entries to T- accounts, and preparing a trial balance (Learning Objectives 3, 4) 15 G New Ann Simpson started her practice as a design consultant on September 1, 2024. During the first month of operations, the business completed the following transactions: 3. Prepare the trial balance of Vince York, M.D., as of July 31, 2024. 30 Received $48,000 cash and issued common stock to Simpson. Purchased office supplies, $1,200, and furniture, $1,300, on account. Performed services for a law firm and received $1,900 cash. X Paid $18,000 cash to acquire land to be used in operations. Performed services for a hotel and received its promise to pay the $1,200 within one week. Paid for the furniture purchased on September 4 on account. Paid assistant's semimonthly salary, $1,500. Received cash on…arrow_forwardRequired information [The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $49,000 Work in process Finished goods 9,600 64,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials. Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. Oarrow_forward
- Accounts Payable Subsidiary Ledger The debits and credits from two transactions are presented in the following creditor's (supplier's) account: NAME Migrant Technology ADDRESS 2199 Commerce Place Debit Date Item Post. Ref. Credit Balance Balance Nov. 1 9,400 Nov. 11 Invoice No. 85 P8 1,845 11,245 Nov. 22 Invoice No. 43 CP46 3,270 7,975 Select the choice that describes each transaction and the source of each posting. Date Journal Page Action Invoice No. Posted From Nov. 11 Nov. 22arrow_forwardAccounts Receivable Subsidiary Ledger The debits and credits from two transactions are presented in the following customer account: NAME Sweet Tooth Confections Inc. ADDRESS 46 W. Main St. Date Item Post. Ref. Debit Credit Balance Aug. 1 Balance 413 Aug. 10 Invoice No. 58 CR50 124 289 Aug. 17 Invoice No. 53 R44 129 418 Select the choice that describes each transaction and the source of each posting. Date Action Invoice No. Posted From Journal page Aug. 10 Collected cash Cash receipts journal Aug. 17 Provided services on account Revenue journalarrow_forwardCengage Learning keAssignment/takeAssignmentMain.do?invoker=&takeAssignment geNOWv2 | Online teachi x Institution Page a. b. Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. a. b. Merchandise $58,600 73,100 Check My Work Freight Paid by Seller X $1,300 600 Presentation Principals of Mark X Session Locator=&inprogress=false Freight Terms FOB destination, 1/10, n/30 FOB shipping point, 2/10, n/30 Credit for Refunds and Allowances $6,500 3,900 ES Previous ☐ 9:08 O - 0arrow_forward
- Accounts Payable Subsidiary Ledger The debits and credits from two transactions are presented in the following creditor's (supplier's) account: Hellman Services Inc. NAME ADDRESS 2199 Commerce Place Debit Date Item Post. Ref. Credit Balance Nov. 1 Balance 487 Nov. 11 Invoice No. 214 CP121 239 248 Nov. 22 Invoice No. 204 P36 155 403 Select the choice that describes each transaction and the source of each posting. Date Action Invoice No. Posted From Journal Page Nov. 11 Nov. 22arrow_forwardDATE ACCOUNT TITLE FIVE COLUMN JOURNAL DOC. POST NO. REF. GENERAL DEBIT CREDIT SALES CREDIT DEBIT CASH age CREDITarrow_forwardQuestion 3 What is the correct posting of the journalized transaction shown in Figure 3.03 E to the accounts payable subsidiary ledger? PURCHASES JOURNAL POST REF PURCHASES DR. ACCTS. PAY.CR. PURCH DATE ACCOUNT CREDITED NO Nov. 7 Hi Frequency 321 455.00 Figure 3.03 E O Debit Accounts Payable/ Hi Frequency, $455 O Debit Purchases, $455 O Credit Purchases, $455 Credit Accounts Payable/ Hi Frequency, $455arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Accounting, Chapters 1-27AccountingISBN:9781337794756Author:HEINTZ, James A.Publisher:Cengage Learning,
Century 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:Cengage
Cornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:9781337679503
Author:Gilbertson
Publisher:Cengage
Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning
Responsibility Accounting| Responsibility Centers and Segments| US CMA Part 1| US CMA course; Master Budget and Responsibility Accounting-Intro to Managerial Accounting- Su. 2013-Prof. Gershberg; Author: Mera Skill; Rutgers Accounting Web;https://www.youtube.com/watch?v=SYQ4u1BP24g;License: Standard YouTube License, CC-BY