Homework Help is Here – Start Your Trial Now!
Business
Accounting
As the accountant for Riley's Natural Food Store, (1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, be sure to put in the following balances: Aris Co., $350; Brown Co., $800; Moose Co., $1,350; Ready Co., $700; Merchandise Inventory, $19,000; Accounts Payable, S3,200. Use the perpetual method. 201X April 8 Purchased $750 of merchandise on account from Aris Co., invoice no. 400, dated April 9; terms 5/10, n/60. 10 Purchased $1,350 of merchandise on account from Brown Co., invoice no. 420, dated April 11; terms 5/10, n/60. 12 Purchased $400 of store supplies on account from Moose Co., invoice no. 510, dated April 13. 14 Issued debit memo no. 8 to Aris Co. for merchandise returned, $300, from invoice no. 400. 17 Purchased $640 of office equipment on account from Ready Co., invoice no. 810, dated April 18. 24 Purchased $850 of additional store supplies on account from Moose Co., invoice no. 516, dated April 25; terms 5/10, n/30.

As the accountant for Riley's Natural Food Store, (1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, be sure to put in the following balances: Aris Co., $350; Brown Co., $800; Moose Co., $1,350; Ready Co., $700; Merchandise Inventory, $19,000; Accounts Payable, S3,200. Use the perpetual method. 201X April 8 Purchased $750 of merchandise on account from Aris Co., invoice no. 400, dated April 9; terms 5/10, n/60. 10 Purchased $1,350 of merchandise on account from Brown Co., invoice no. 420, dated April 11; terms 5/10, n/60. 12 Purchased $400 of store supplies on account from Moose Co., invoice no. 510, dated April 13. 14 Issued debit memo no. 8 to Aris Co. for merchandise returned, $300, from invoice no. 400. 17 Purchased $640 of office equipment on account from Ready Co., invoice no. 810, dated April 18. 24 Purchased $850 of additional store supplies on account from Moose Co., invoice no. 516, dated April 25; terms 5/10, n/30.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

I have attached a picture of question 10-2 in College Accounting a Practical Approach . I got things journalized just fine but I am struggling to create the Accounts Payable Subledger correct and coming up with a total schedule of accounts of $6980. I have attached a picture of the incorrect work i did so maybe you can better point me in the right direction

Insert Draw Page Layout Formulas Data Review View Help Acrol File Home X Cut A A === . 2 Wrap Text Arial v 10 旧Copy Paste 、田、 EEEE E Merge & Center BIU Format Painter Clipboard Font Alignment АА31 fir AA B C. D. E. FGHI JKLMN O PQR S T. UVW X ACCOUNTS PAYABLE SUBSIDIARY LEDGER 8. 6. 10 NAME ARIS CO. 11 Date 12 Post Ref. Explanation Debit Credit Cr. Balance 13 1. 3 5 0 7 5 0 14 9. 1 1 0000 15 14 3 0 0 16 8 0000 17 18 19 NAME BROWN CO. 20 Post Date Explanation Debit Credit Cr. Balance 21 Ref. 22 1 8 00 1 3 50 23 10 24 2 35 000 25 26 27 28 NAME MOOSE CO. 道 29 Post Date Explanation Debit Credit Cr. Balance 30 Ref. 31 1 12 24 1 3 5 000 4 0 000 8 5 000 32 33 34 2 7 0 0 35 36 37 NAME READY CO. 38 Post 39 Date Explanation Debit Credit Cr. Balance Ref. 1. 17 40 7 0 000 6 4 000 41 42 43 1 3 4 0 44 45 46 47 48 Gen. Journal AP Subledger Ledger AP Schedule P Type here to search 12
Transcribed Image Text:Insert Draw Page Layout Formulas Data Review View Help Acrol File Home X Cut A A === . 2 Wrap Text Arial v 10 旧Copy Paste 、田、 EEEE E Merge & Center BIU Format Painter Clipboard Font Alignment АА31 fir AA B C. D. E. FGHI JKLMN O PQR S T. UVW X ACCOUNTS PAYABLE SUBSIDIARY LEDGER 8. 6. 10 NAME ARIS CO. 11 Date 12 Post Ref. Explanation Debit Credit Cr. Balance 13 1. 3 5 0 7 5 0 14 9. 1 1 0000 15 14 3 0 0 16 8 0000 17 18 19 NAME BROWN CO. 20 Post Date Explanation Debit Credit Cr. Balance 21 Ref. 22 1 8 00 1 3 50 23 10 24 2 35 000 25 26 27 28 NAME MOOSE CO. 道 29 Post Date Explanation Debit Credit Cr. Balance 30 Ref. 31 1 12 24 1 3 5 000 4 0 000 8 5 000 32 33 34 2 7 0 0 35 36 37 NAME READY CO. 38 Post 39 Date Explanation Debit Credit Cr. Balance Ref. 1. 17 40 7 0 000 6 4 000 41 42 43 1 3 4 0 44 45 46 47 48 Gen. Journal AP Subledger Ledger AP Schedule P Type here to search 12
CHAPTER 1o Purchases and Cash Payments in a Perpetual Inven Check Figure Accounts pa 201X $7,900 4 Bought $600 of merchandise on account from Wales Co., invoice no. 442, dated May 5; terms 3/10, n/30. May 5 Bought $4,600 of store equipment on account from Kingston Co., invoice no. 502, dated May 6. 8 Bought $1,700 of merchandise on account from Rolo Co., invoice no. 401, dated May 9; terms 3/10, n/30. 14 Bought $1,000 of store supplies on account from Wales Co., invoice no. 419, dated May 14. COA-2. As the accountant for Riley's Natural Food Store, (1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, to put in the following balances: Aris Co., $350; Brown Co., $800; Moose Co., $1,350; Ready Co., $700; Merchandise Inventory, $19,000; Accounts Payable, $3,200. Use the perpetual method. be sure Check 201X Total s April 8 Purchased $750 of merchandise on account from Aris Co., invoice no. 400, dated $6,89 April 9; terms 5/10, n/60. 10 Purchased $1,350 of merchandise on account from Brown Co., invoice no. 420, dated April 11; terms 5/10, n/60. 12 Purchased $400 of store supplies on account from Moose Co., invoice no. 510, dated April 13. 14 Issued debit memo no. 8 to Aris Co. for merchandise returned, $300, from invoice no. 400. 17 Purchased $640 of office equipment on account from Ready Co., invoice no. 810, dated April 18. 24 Purchased $850 of additional store supplies on account from Moose Co., invoice no. 516, dated April 25; terms 5/10, n/30. Wendy Drew operates a wholesale computer center and has hired you as her bookkeeper to record the following transactions. She would like you to (1) jour- nalize the following transactions, (2) record to the accounts payable subsidiary ledger and post to the general ledger as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, be sure to put in the following beginning balances: Andersen Co., $1,200; Henderson Co., $400; Squash Co., $900; Xhosa Co., $1,300; Cash, $22,000; Accounts Payable, $3,800; Merchandise
Transcribed Image Text:CHAPTER 1o Purchases and Cash Payments in a Perpetual Inven Check Figure Accounts pa 201X $7,900 4 Bought $600 of merchandise on account from Wales Co., invoice no. 442, dated May 5; terms 3/10, n/30. May 5 Bought $4,600 of store equipment on account from Kingston Co., invoice no. 502, dated May 6. 8 Bought $1,700 of merchandise on account from Rolo Co., invoice no. 401, dated May 9; terms 3/10, n/30. 14 Bought $1,000 of store supplies on account from Wales Co., invoice no. 419, dated May 14. COA-2. As the accountant for Riley's Natural Food Store, (1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, to put in the following balances: Aris Co., $350; Brown Co., $800; Moose Co., $1,350; Ready Co., $700; Merchandise Inventory, $19,000; Accounts Payable, $3,200. Use the perpetual method. be sure Check 201X Total s April 8 Purchased $750 of merchandise on account from Aris Co., invoice no. 400, dated $6,89 April 9; terms 5/10, n/60. 10 Purchased $1,350 of merchandise on account from Brown Co., invoice no. 420, dated April 11; terms 5/10, n/60. 12 Purchased $400 of store supplies on account from Moose Co., invoice no. 510, dated April 13. 14 Issued debit memo no. 8 to Aris Co. for merchandise returned, $300, from invoice no. 400. 17 Purchased $640 of office equipment on account from Ready Co., invoice no. 810, dated April 18. 24 Purchased $850 of additional store supplies on account from Moose Co., invoice no. 516, dated April 25; terms 5/10, n/30. Wendy Drew operates a wholesale computer center and has hired you as her bookkeeper to record the following transactions. She would like you to (1) jour- nalize the following transactions, (2) record to the accounts payable subsidiary ledger and post to the general ledger as appropriate, and (3) prepare a schedule of accounts payable. If using working papers, be sure to put in the following beginning balances: Andersen Co., $1,200; Henderson Co., $400; Squash Co., $900; Xhosa Co., $1,300; Cash, $22,000; Accounts Payable, $3,800; Merchandise
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 4 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting profession
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
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS