You should prove and rule a journal each time you complete a journal page and also at the end of the month. The steps for proving and ruling an expanded journal are the same as for a five-column journal.Let’s recall the steps: Place a single-line rule across the account columns, below the last journal entry.On the next line, add the date and then write Carried Forward in the Account Title column. Place a checkmark in the Post Ref. column.Sum each column and place the totals below the single-line rule.Place a double-line rule below the column totals to indicate that the totals are correct. Prove a Journal PageNext, we will carry the totals from the previous page to the next page so we can continue journaling transactions. Write the page number (2) at the top of the journal page.Write the date and Brought Forward in the Account Title column. Place a checkmark in the Post Ref. column.Prove and Rule an Expanded JournalAfter recording a couple more entries to finish off the month, it’s time to prove and rule the journal again. Use the same steps that were completed at the end of a journal page to ensure that the monthly totals for debits and credits are equal. Add the date for the end of the month, and write Totals in the Account Title column. Total all the columns. Add a single-line rule above the totals and a double-line rule below the totals to indicate that the amount column totals have been verified as correct.Journal the following transactions related to the business Barbara’s Book Nook, a bookstore owned by Barbara Baker.August 1. Purchased merchandise for cash, $1,200.00. Check No. 121.August 9. Purchased merchandise on account from Book Wholesalers, $1,950.00. Purchase Invoice No. 132.August 14. Barbara Baker withdrew merchandise for personal use, $300.00. Memorandum No. 143.August 30. Recorded cash and credit card sales, $5,459.00, plus sales tax, $545.90. Cash Register Tape No. 124.Total the columns and prove and rule page 1 of the journal.Prove cash. The beginning cash balance on August 1 is $2,340.00. The balance on the next unused check stub is $7,144.90. I provided an example below. ### Eleven Column Journal#### Structure Overview:The Eleven Column Journal is a comprehensive accounting tool designed to track various financial transactions across multiple accounts. It allows for detailed recording of debits and credits and is typically used in bookkeeping and accounting.#### Column Headers:1. **Date**: The date the transaction took place.2. **Account Title**: The name of the account involved in the transaction.3. **Doc No.**: The document number associated with the transaction.4. **Post Ref**: The reference number used for the posting.5. **General Debit/Credit**: General transactions not specific to other categories.6. **Accounts Receivable Debit/Credit**: Transactions that involve amounts owed by customers.7. **Sales Credit**: Revenue generated from sales activities.8. **Sales Tax Payable Credit**: Taxes collected from sales that must be remitted.9. **Accounts Payable Debit/Credit**: Transactions involving amounts the business owes to suppliers.10. **Purchases Debit**: Transactions involving new purchases.11. **Cash Debit/Credit**: Cash transactions impacting financial accounts.#### Additional Notes:- **Prove Page 2 of the Journal**: This section ensures that the totals of debits and credits match. The calculations involve verifying that total debits equal total credits across all accounts.#### Cash Flow Section:- **Cash on hand at beginning of month**: The starting balance of cash.- **Plus Total cash Received**: The sum of all cash inflows.- **Equals Total**: The combined total of beginning cash and received cash.- **Less total Cash paid out during month**: Total cash outflows.- **Equals cash balance at end of month**: The remaining cash balance after accounting for inflows and outflows.- **Checkbook balance on next check stub**: The reflected balance in the checkbook for comparison and verification.This journal format allows for effective financial tracking and ensures accuracy in accounting practices. **Example of Accounting Worksheet**This example demonstrates how to fill out an accounting worksheet at the end of the month. Follow these instructions to ensure accuracy and completeness:1. **Date Addition and Totals**: - At the end of the month, enter the date and write "Totals" in the Account Title column. - Sum all values in each column. - Place a single-line rule above the totals to separate them visually from other entries. - Below the totals, draw a double-line rule to verify that the column totals have been calculated correctly.2. **Breakdown of Columns**: - **Dates**: April 21 to April 30. - **Description of Transactions**: Including "Brought Forward" and "Supplies." - **Account Titles**: Specific accounts like General, Accounts Receivable, Sales, etc.3. **Sample Data**: - Brought Forward: $3,380.00 Debit and $1,000.00 Credit in the General column. - Supplies: $500.00 Debit and Credit. - Total for April 30: - Debit: $3,880.00 General, $1,000.00 Accounts Receivable, $831.60 Sales, $200.00 Sales Credit, $2,321.98 Accounts Receivable Credit, $425.26 Sales Tax, and $765.04 Accounts Payable. - Credit: $500.00 Purchases, $9,566.53 Cash, $4,845.00 Account Payable, totaling $20,738.04 for both Debit and Credit.4. **Prove Page 2 of the Journal**: - Entries include General Debit of $3,880.00 and General Credit of $1,000.00. - Other debits and credits listed in detail match transaction types like Accounts Receivable and Sales.5. **Final Totals**: - Debit: $20,738.04 - Credit: $20,738.04 - Ensures the worksheet is balanced and accurate.This layout and procedure help verify the correctness of financial records and ensure all transactions are appropriately accounted for by month-end.

The debt and credit balance of the accounts are shown in the general journal of the company. The…

Answered: August 1. Purchased merchandise for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Prove a Journal Page

Next, we will carry the totals from the previous page to the next page so we can continue journaling transactions.

Write the page number (2) at the top of the journal page.
Write the date and Brought Forward in the Account Title column. Place a checkmark in the Post Ref. column.

Prove and Rule an Expanded Journal

After recording a couple more entries to finish off the month, it’s time to prove and rule the journal again. Use the same steps that were completed at the end of a journal page to ensure that the monthly totals for debits and credits are equal.

Add the date for the end of the month, and write Totals in the Account Title column. Total all the columns. Add a single-line rule above the totals and a double-line rule below the totals to indicate that the amount column totals have been verified as correct.

Journal the following transactions related to the business Barbara’s Book Nook, a bookstore owned by Barbara Baker.

August 1. Purchased merchandise for cash, $1,200.00. Check No. 121.
August 9. Purchased merchandise on account from Book Wholesalers, $1,950.00. Purchase Invoice No. 132.
August 14. Barbara Baker withdrew merchandise for personal use, $300.00. Memorandum No. 143.
August 30. Recorded cash and credit card sales, $5,459.00, plus sales tax, $545.90. Cash Register Tape No. 124.
Total the columns and prove and rule page 1 of the journal.
Prove cash. The beginning cash balance on August 1 is $2,340.00. The balance on the next unused check stub is $7,144.90.

I provided an example below.

### Eleven Column Journal

#### Structure Overview:
The Eleven Column Journal is a comprehensive accounting tool designed to track various financial transactions across multiple accounts. It allows for detailed recording of debits and credits and is typically used in bookkeeping and accounting.

#### Column Headers:
1. **Date**: The date the transaction took place.
2. **Account Title**: The name of the account involved in the transaction.
3. **Doc No.**: The document number associated with the transaction.
4. **Post Ref**: The reference number used for the posting.
5. **General Debit/Credit**: General transactions not specific to other categories.
6. **Accounts Receivable Debit/Credit**: Transactions that involve amounts owed by customers.
7. **Sales Credit**: Revenue generated from sales activities.
8. **Sales Tax Payable Credit**: Taxes collected from sales that must be remitted.
9. **Accounts Payable Debit/Credit**: Transactions involving amounts the business owes to suppliers.
10. **Purchases Debit**: Transactions involving new purchases.
11. **Cash Debit/Credit**: Cash transactions impacting financial accounts.

#### Additional Notes:
- **Prove Page 2 of the Journal**: This section ensures that the totals of debits and credits match. The calculations involve verifying that total debits equal total credits across all accounts.

#### Cash Flow Section:
- **Cash on hand at beginning of month**: The starting balance of cash.
- **Plus Total cash Received**: The sum of all cash inflows.
- **Equals Total**: The combined total of beginning cash and received cash.
- **Less total Cash paid out during month**: Total cash outflows.
- **Equals cash balance at end of month**: The remaining cash balance after accounting for inflows and outflows.
- **Checkbook balance on next check stub**: The reflected balance in the checkbook for comparison and verification.

This journal format allows for effective financial tracking and ensures accuracy in accounting practices.

**Example of Accounting Worksheet**

This example demonstrates how to fill out an accounting worksheet at the end of the month. Follow these instructions to ensure accuracy and completeness:

1. **Date Addition and Totals**:
- At the end of the month, enter the date and write "Totals" in the Account Title column.
- Sum all values in each column.
- Place a single-line rule above the totals to separate them visually from other entries.
- Below the totals, draw a double-line rule to verify that the column totals have been calculated correctly.

2. **Breakdown of Columns**:
- **Dates**: April 21 to April 30.
- **Description of Transactions**: Including "Brought Forward" and "Supplies."
- **Account Titles**: Specific accounts like General, Accounts Receivable, Sales, etc.

3. **Sample Data**:
- Brought Forward: $3,380.00 Debit and $1,000.00 Credit in the General column.
- Supplies: $500.00 Debit and Credit.
- Total for April 30:
- Debit: $3,880.00 General, $1,000.00 Accounts Receivable, $831.60 Sales, $200.00 Sales Credit, $2,321.98 Accounts Receivable Credit, $425.26 Sales Tax, and $765.04 Accounts Payable.
- Credit: $500.00 Purchases, $9,566.53 Cash, $4,845.00 Account Payable, totaling $20,738.04 for both Debit and Credit.

4. **Prove Page 2 of the Journal**:
- Entries include General Debit of $3,880.00 and General Credit of $1,000.00.
- Other debits and credits listed in detail match transaction types like Accounts Receivable and Sales.

5. **Final Totals**:
- Debit: $20,738.04
- Credit: $20,738.04
- Ensures the worksheet is balanced and accurate.

This layout and procedure help verify the correctness of financial records and ensure all transactions are appropriately accounted for by month-end.

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August 1. Purchased merchandise for cash, $1,200.00. Check No. 121. August 9. Purchased merchandise on account from Book Wholesalers, $1,950.00. Purchase Invoice No. 132.

Prove a Journal Page

Prove and Rule an Expanded Journal