Review the transactions, and then complete the table to give Chloe instructions on how to enter the transactions in her accounting system,using the following abbreviations. The transactions should be entered without considering end-of-month posting of totals, adjusting entries, orclosing entries.Subsidiary Ledger/Special Journal NameAbbreviation for TableGeneral JournalGJRevenue JournalRCash Receipts JournalCRPurchases JournalPCash Payments JournalCPGeneral LedgerGLARAccounts Receivable Subsidiary LedgerAPAccounts Payable Subsidiary Ledger Post toMonthDateAmountTransactionJournalizeLedgerAug.17$1,500Issued Invoice No. 405 to Functional Fitness CompanyGJGLAug.19$550Paid Invoice No. 22 from Sudsy's LaundryGLAug.22$1,700Ordered supplies from Cleaning Supplies Warehouse and receivedGLinvoiceAug.23$2,000Received payment on account from Central Medical Offices, Inc.GLAug.31$3,600Paid wages to employeesGL11

Subsidiary Ledger shows the transaction and payment history of each customer to whom the business…

Answered: Review the transactions, and then…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

reading Youlube eBook Show Me How E Calculator Journalize the Tollowwing transactions in the accounts of Chanmplon Medical Co., a medical equipment company tnat uses thne direct write-off method of acCO uncollectible receivables: Jan. 19. Sold merchandise on account to Dr. Dale Van Dyken, $50,400. The cost of the merchandise sold was $27,200. July 7. Received $10,600 from Dr. Dale Van Dyken and wrote off the remainder owed on the sale of January 19 as uncollectible. Nov. 2. Reinstated the account of Dr. Dale Van Dyken that had been written off on July 7 and received $39,800 cash in full payment. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 19-sale Jan. 19-cost July 7 Nov. 2-reinstate Nov. 2-collection ( Previous Check My Work 00000
The purchases journal for). K. Insurance for the month of October Is represented below. Accounts Payable Is account number 202 and Purchases Is account number 501. PURCHASES JOURNAL Page s Purchases Debit/ Accounts Payable Date Invoice No. From Whom Purchased Post Ref. Credit Oct. 2 3118 Express Florist 3,550.00 3119 T. C. S. Supplies 2,790.00 3120 Auto Body Repalr 3,850.00 Signs Unlimited 4,150.00 3121 Dynasty Limo 2,380.00 10 3122 15 3123 T. C. S. Supplles 2,150.00 18,870.00 Required: 1. Post the Information from the purchases journal to the appropriate general ledger and accounts payable ledger accounts. GENERAL LEDGER ACCOUNT NO. 202 ACCOUNT Accounts Payable BALANCE DEBIT CREDIT DEBIT CREDIT DATE ITEM POST. REF. P5 ACCOUNT NO. 501 ACCOUNT Purchases BALANCE DEBIT CREDIT DEBIT CREDIT DATE ITEM POST. REF. P5 ACCOUNTS PAYABLE LEDGER ACCOUNT Auto Body Repair
unc.5
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…
1. Open an accounts payable ledger account for the following vendors: 1. Central Lumber, 220 1. Commercial Tool Warehouse, 230 2. Record a balance on the following account: 1. Interior Plumbing Parts -- $2,320 on August 21.
post to general ledger
Francisco Company has 10 employees, each of whom earns $2,800 per month and is paid on the last day of each month. All 10 have been employed continuously at this amount since January 1. On March 1, the following accounts and balances exist in its general ledger. a. FICA-Social Security Taxes Payable, $3,472; FICA-Medicare Taxes Payable, $812. (The balances of these accounts represent total liabilities for both the employer's and employees' FICA taxes for the February payroll only.) b. Employees' Federal Income Taxes Payable, $7,000 (llability for February only). c. Federal Unemployment Taxes Payable, $336 (liability for January and February together). d. State Unemployment Taxes Payable, $3,024 (lability for January and February together). The company had the following payroll transactions. March 15 Issued check payable to Swift Bank, a federal depository bank authorized to accept employers' payments of FICA taxes and employee income tax withholdings. The $11,284 check is in payment of…
Hi can you post this transaction for me please
Fill in the missing amounts in the accounts payable subsidiary ledgers for Al's Tractor Supply. NAME: B. Mario ACCOUNTS PAYABLE LEDGER ADDRESS: 1230 Rose Ave, Watertown, WI 53094 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- July 8 P7 1,900.00 1,900.00 July 15 J3 400.00 NAME: Denson & Soldner ACCOUNTS PAYABLE LEDGER ADDRESS: 111 Chase St, Johnson Creek, WI 53081 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- July 3 P7 3,100.00 3,100.00 July 13 CP9 3,100.00 July 29 P7 3,460.00 ACCOUNTS PAYABLE LEDGER NAME: Hutchinson Supplies ADDRESS: 1985 County Road, Lake Mills, WI 53577 DATE TTEM POST. REF. DEBIT CREDIT BALANCE
Entries for uncollectible accounts, using direct write-off method Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables: Jan. 19. Sold merchandise on account to Dr. Kyle Norby, $5,000. The cost of goods sold was $2,200. June 2. Received $400 from Dr. Kyle Norby and wrote off the remainder owed on the sale of January 19 as uncollectible. Oct. 23. Reinstated the account of Dr. Kyle Norby that had been written off on June 2 and received $4,600 cash in full payment. If an amount box does not require an entry, leave it blank. Jan. 19-sale Jan. 19-cost June 2 Oct. 23-reinstate Oct. 23-collection

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

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