Accounting
27th Edition
ISBN: 9781337272094
Author: WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher: Cengage Learning,
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Textbook Question
Chapter 2, Problem 2.14EX
Journal entries
Based upon the T accounts in Exercise 2–13, prepare the nine journal entries from which the postings were made.
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post journal entries to t account
All entries are posted from journal to _______.
3. Itco uses a perpetual inventory system. During the month of October the
following transactions took place:
10/1
10/5
10/10
10/12
10/15
10/22
A.
UTS
Balance: 2,000 uts. @ $6.00/ut
Purchased: 5,000 uts. @ $6.35/ut
Purchased: 8,000 uts. @ $6.50/ut
Sold 12,000 uts. for $10.00 ea.
Purchased: 4,000 uts. @ $6.75/ut
Sold 5,000 uts. for $10.00 ea.
I
Complete the perpetual inventory record (provided) for
the above transactions using the FIFO valuation system.
COST TOT
UTS
COST
TOT
UTS
COST
TOT
Chapter 2 Solutions
Accounting
Ch. 2 - What is the difference between an account and a...Ch. 2 - Prob. 2DQCh. 2 - Prob. 3DQCh. 2 - eCatalog Services Company performed services in...Ch. 2 - If the two totals of a trial balance are equal,...Ch. 2 - Assume that a trial balance is prepared with an...Ch. 2 - Assume that when a purchase of supplies of 2,650...Ch. 2 - Assume that Muscular Consulting erroneously...Ch. 2 - Assume that Sunshine Realty Co. borrowed 300,000...Ch. 2 - Checking accounts are a common form of deposits...
Ch. 2 - Rules of debit and credit and normal balances...Ch. 2 - Rules of debit and credit and normal balances...Ch. 2 - Journal entry for asset purchase Prepare a journal...Ch. 2 - Journal entry for asset purchase Prepare a journal...Ch. 2 - Journal entry for fees earned Prepare a journal...Ch. 2 - Journal entry for fees earned Prepare a journal...Ch. 2 - Journal entry for owner's withdrawal Prepare a...Ch. 2 - Journal entry for owner's withdrawal Prepare a...Ch. 2 - Prob. 2.5APECh. 2 - Missing amount from an account On August 1, the...Ch. 2 - Trial balance errors For each of the following...Ch. 2 - Trial balance errors For each of the following...Ch. 2 - Correcting entries The following errors took place...Ch. 2 - Correcting entries The following errors took place...Ch. 2 - Horizontal analysis Two income statements for...Ch. 2 - Horizontal analysis Two income statements for...Ch. 2 - Chart of accounts The following accounts appeared...Ch. 2 - Chart of accounts Oak Interiors is owned and...Ch. 2 - Chart of accounts Outdoor Leadership School is a...Ch. 2 - Rules of debit and credit The following table...Ch. 2 - Normal entries for accounts During the month,...Ch. 2 - Normal balances of accounts Identify each of the...Ch. 2 - Transactions Concrete Consulting Co. has the...Ch. 2 - Journalizing and posting On September 18, 2019,...Ch. 2 - Transactions and T accounts The following selected...Ch. 2 - Prob. 2.10EXCh. 2 - Account balances a.During February, 186,500 was...Ch. 2 - Capital account balance As of January 1, Terrace...Ch. 2 - Identifying transactions National Park Tours Co....Ch. 2 - Journal entries Based upon the T accounts in...Ch. 2 - Trial balance Based upon the data presented in...Ch. 2 - Trial balance The accounts in the ledger of...Ch. 2 - Effect of errors on trial balance Indicate which...Ch. 2 - Errors in trial balance The following preliminary...Ch. 2 - Effect of errors on trial balance The following...Ch. 2 - Errors in trial balance Identify the errors in the...Ch. 2 - Entries to correct errors The following errors...Ch. 2 - Entries to correct errors The following errors...Ch. 2 - Prob. 2.23EXCh. 2 - Prob. 2.24EXCh. 2 - Entries into T accounts and trial balance Connie...Ch. 2 - Journal entries and trial balance On January 1,...Ch. 2 - Journal entries and trial balance On June 1, 2019,...Ch. 2 - Journal entries and trial balance Elite Realty...Ch. 2 - Corrected trial balance The Colby Group has the...Ch. 2 - Entries into T accounts and trial balance Ken...Ch. 2 - Journal entries and trial balance On August 1,...Ch. 2 - Journal entries and trial balance On October 1,...Ch. 2 - Journal entries and trial balance Valley Realty...Ch. 2 - Corrected trial balance Tech Support Services has...Ch. 2 - The transactions completed by PS Music during June...Ch. 2 - Prob. 2.1CPCh. 2 - Prob. 2.5CPCh. 2 - Prob. 2.6CPCh. 2 - Prob. 2.7CP
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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
- Journal entries Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings were made. Journal entry explanations may be omitted.arrow_forwardTrue or false? In a manual system, it is proper to splits journal entry at the bottom page.arrow_forwardExplain an example of post the journal entries to the T-accounts.arrow_forward
- General Journalarrow_forwardSelect the best answer for the question 13. The process of transferring the information contained in the journal to the ledger is called A. cross-referencing OB. balancing the accounts OC. cross-adding D. posting. Mark for review (Will be highlighted on the review page) << Previous Question Next Quesmonarrow_forward19.The Post. Ref. column in the general journal is used to show that an account has been posted to the ledger when which of the following is placed in it? a. Journal page number b. Account number c. journal number d. check markarrow_forward
- Posting of journal entries should be done in Select one: a. alphabetical order. b. account number order. c.dollar amount order. d.chronological order.arrow_forwardurnalizing entries, information can be entered into T-Accounts and/or the four-column ledger. Enter the information from the T-Account and calculate the running balance in the appropriate place in the four-column ledger to review the similarities between the two formats.arrow_forwardReview the following situations and record any necessary journal entries for Nine Lives Inc.arrow_forward
- JOURNAL ENTRIES (NOTE RECEIVED, RENEWED, AND COLLECTED) Prepare general journal entries for the following transactions:arrow_forwardWhat is the purpose of publishing J.F numbers that are managed to enter in the journal when accounts are posted?arrow_forwardAn invoice number is: a.added to the Post Ref. column of the ledger account. b.mentioned in the explanation of the related journal entry. c.added to the Post Ref. column of the journal. d.mentioned in the ledger accounts related to the journal entry.arrow_forward
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