After Vaughn Company had completed all posting for the month of December, the sum of the balances in the following accountspayable subsidiary ledger did not agree with the balance of the control account in the general ledger.Name Ryker'sAddress 286 Buck AvenueDate ItemDec. 2Name Geordie CompanyAddress 818 Western AvenueDate ItemDec. 1 Balance102029Name La Forge CompanyAddress 90210 Baker BoulevardDate ItemDec. 1 Balance1829Name Deanna TroiAddress 2720 Sommers AvenueDate Item27Ref. Debit Credit Balance3,4003,400P25Ref. Debit Credit Balance8,600CP23 8,600P32G15CP28 10,900P34900Ref. Debit Credit Balance10,900P274,300R334,30011,6005,200Ref. Debit Credit Balance7.0007,0009.00070014000 Name NameO'Brien SuppliesAddress 1560 Puckett StreetDate ItemDec. 1 Balance71220TotalRyker'sRef. Debit Credit Balance9,200<P26SG11CP292,620ACCOUNTS PAYABLE SUBSIDIARY LEDGER ACCOUNT BALANCESS6,6007,000The balance in the Accounts Payable control account of $40,580 has been verified as correct. Also assume that the journal referencesin the Post Ref. columns of the accounts payable subsidiary ledger have been verified as correct.Determine the errors in the preceding accounts payable subsidiary accounts and prepare a corrected schedule of accounts payable.15,80013,18020,180

A ledger is a log or list of accounts that keep track of account transfers.

After Vaughn Company had completed all posting for the month of December, the sum of the balances in the following accounts payable subsidiary ledger did not agree with the balance of the control account in the general ledger. Name Ryker's Address 286 Buck Avenue Date Item Dec. 2 Name Geordie Company Address 818 Western Avenue Date Item Dec. 1 Balance 10 20 29 Name La Forge Company Address 90210 Baker Boulevard Date Item Dec. 1 Balance 18 29 Name Deanna Troi Address 2720 Sommers Avenue Date Item 22 Ref. Debit Credit Balance P25 3,400 Ref. Debit Credit Balance 8,600 CP23 8,600 P32 G15 900 CP28 10.900 4,300 P34 3,400 Ref. Debit Credit Balance 11,600 4,300 5,200 10.900 7:00 Ref. Debit Credit Balance P27 7.000 7.000

After Vaughn Company had completed all posting for the month of December, the sum of the balances in the following accounts payable subsidiary ledger did not agree with the balance of the control account in the general ledger. Name Ryker's Address 286 Buck Avenue Date Item Dec. 2 Name Geordie Company Address 818 Western Avenue Date Item Dec. 1 Balance 10 20 29 Name La Forge Company Address 90210 Baker Boulevard Date Item Dec. 1 Balance 18 29 Name Deanna Troi Address 2720 Sommers Avenue Date Item 22 Ref. Debit Credit Balance P25 3,400 Ref. Debit Credit Balance 8,600 CP23 8,600 P32 G15 900 CP28 10.900 4,300 P34 3,400 Ref. Debit Credit Balance 11,600 4,300 5,200 10.900 7:00 Ref. Debit Credit Balance P27 7.000 7.000

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 19E: After Bunker Hill Assay Services Inc. had completed all postings for March in the current year...

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After Bunker Hill Assay Services Inc. had completed all postings for March in the current year (20Y4), the sum of the balances in the following accounts payable ledger did not agree with the $36,600 balance of the controlling account in the general ledger: NAME ADDRESS CD. Greer and Son 972 5. Tenth Street Post. Credit Date Item Ref. Debit Balance 20Y4 Mar. 17 Рзо 3,750 3,750 P31 27 12,000 15,750 NAME ADDRESS Carbon Supples Inc 1170 Mattis Avenue Post. Ref. Balance Date Item Debit Credit 20Y4 Mar. Balance 8,300 P30 7,000 14,000 J7 12 300 13,700 CP23 20 5,800 7,900 NAME Cutler and Powell 717 Em Street ADDRESS Post. Ref. Date Item Debit Credit Balance 20Υ4 Mar. Balance 6,100 CP23 18 6,100 P31 29 7,800 7,800 NAME ADDRESS Hudson Bay Minerals Co. 1240 W. Maln Street Post. Ref. Date Item Debit Credit Balance 20Y4 Mar. Balance 4,750 CP22 10 4,750 P30 17 3,700 3,700 J7 25 3,000 1,700 NAME Valley Power 915 E Wainut Street ADDRESS Post. Ref. Date Item Debit Credit Balance 20Y4 Mar. 5 P30 3,150…
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Sunland Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $ 324,100; the Accounts Payable control account had a credit balance of $ 83,300.The July transactions recorded in the special journals are summarized below. No entries affecting accounts receivable and accounts payable were recorded in the general journal for July. Sales journal Total sales $ 158,000 Purchases journal Total purchases $ 51,400 Cash receipts journal Accounts receivable column total $ 137,100 Cash payments journal Accounts payable column total $ 48,600 (a) What is the balance of the Accounts Receivable control account after the monthly postings on July 31? The balance of the Accounts Receivable control account $ enter the balance of the accounts receivable control account in…
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To what account(s) is the column total of $174,100 in the sales journal posted?
Post various journals to control and subsidiary accounts.L09, 10, 14On 1 September the balance of the accounts receivable control account in the general ledger of Teone Ltd was $5980. The customers' subsidiary ledger contained account balances as follows: Edmonds $1220, Lee $1320, Roemer $1030, Schulz $2410, Henry $0. At the end of September the various journals contained the following information. Sales journal: Sales to Schulz $400; to Edmonds $675; to Henry $515; to Roemer $550. Cash receipts journal: Cash received from Roemer $655; from Schulz $1150; from Henry $205; from Lee $900; from Edmonds $620. General journal: An allowance is granted to Schulz $110.Required(a) Set up control and subsidiary ledger accounts and enter the beginning balances. Do not construct the journals.(b)Post the various journals. Post the items as individual items or as totals, whichever would be the appropriate procedure. (No discount was given for early payment.)(c)Prepare a list of customers and check…
Oriole Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $307,200; the Accounts Payable control account had a credit balance of $85,300. The July transactions recorded in the special journals are summarized below. No entries affecting accounts receivable and accounts payable were recorded in the general journal for July. Sales journal Purchases journal Cash receipts journal Cash payments journal Total sales Total purchases Accounts receivable column total Accounts payable column total $156,000 $58,800 $144,500 $41,300
Sheridan Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $300,300; the Accounts Payable control account had a credit balance of $83,600.The July transactions recorded in the special journals are summarized below. No entries affecting accounts receivable and accounts payable were recorded in the general journal for July. Sales journal Total sales $169,300 Purchases journal Total purchases $57,000 Cash receipts journal Accounts receivable column total $141,600 Cash payments journal Accounts payable column total $46,700 What is the balance of the Accounts Receivable control account after the monthly postings on July 31? The balance of the Accounts Receivable control accoun
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Based on the data presented in Exercise 5-1, assume that the beginning balances for the customer accounts were zero, except for Tillman Inc., which had a 590 beginning balance. In addition, there were no collections during the period. a. Set up a T account for Accounts Receivable and T accounts for the four accounts needed in the customer ledger. b. Post to the T accounts. c. Determine the balance in the accounts. d. Prepare a listing of the accounts receivable customer balances as of May 31, 20Y3.
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