Financial Accounting
15th Edition
ISBN: 9781337272124
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 5, Problem 11E
Using the following purchases journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required:
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Identify Postings from Purchases Journal
Using the following purchases journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required:
PURCHASES JOURNAL
Page 49
Date
Account Credited
Post.Ref.
AccountsPayableCr.
StoreSuppliesDr.
OfficeSuppliesDr.
OtherAccountsDr.
Post.Ref.
Amount
20Y9
Jan. 4
Coastal Equipment Co.
(a)
5,325
Warehouse Equipment
(g)
5,325
Jan. 6
Arrow Supply Co.
(b)
4,000
4,000
Jan. 9
Valley Products
(c)
1,875
1,600
275
Jan. 14
Office Warehouse
(d)
2,200
Office Equipment
(h)
2,200
Jan. 20
Office Warehouse
(e)
6,000
Store Equipment
(i)
6,000
Jan. 25
Metro Supply Co.
(f)
2,740
2,740
Jan. 30
22,140
4,340
4,275
13,525
(j)
(k)
(l)
(m)
Post reference represents:
a.
b.
c.…
The individual amounts in the "Accounts Payable" column of the purchases journal are posted to the
appropriate account in the
A. general ledger
B. general journal
C. accounts payable ledger
D. accounts receivable ledger
From the general journal, record to the accounts payable subsidiary ledger and post to general ledger accounts as appropriate. Assume the perpetual inventory system. (For purposes of this problem, we will ignore posting references in the general
journal.)
General journal information attached in image and also the t accounts.
Chapter 5 Solutions
Financial Accounting
Ch. 5 - Why would a company maintain separate accounts...Ch. 5 - What are the major advantages of the use of...Ch. 5 - In recording 400 fees earned on account during a...Ch. 5 - How many postings to Fees Earned for the month...Ch. 5 - During the current month, the following errors...Ch. 5 - Assuming the use of a two-column general journal,...Ch. 5 - What is an electronic form, and how is it used in...Ch. 5 - When are transactions posted in a computerized...Ch. 5 - What happens to the special journal in a...Ch. 5 - Prob. 10DQ
Ch. 5 - The following revenue transactions occurred during...Ch. 5 - Prob. 1PEBCh. 5 - The debits and credits from two transactions are...Ch. 5 - The debits and credits from two transactions are...Ch. 5 - The following purchase transactions occurred...Ch. 5 - The following purchase transactions occurred...Ch. 5 - The debits and credits from two transactions are...Ch. 5 - Prob. 4PEBCh. 5 - McHale Company does business in two customer...Ch. 5 - Prob. 5PEBCh. 5 - Using the following revenue journal for Bowman...Ch. 5 - Based on the data presented in Exercise 5-1,...Ch. 5 - Assuming the use of a two-column (all-purpose)...Ch. 5 - Assuming the use of a two-column (all-purpose)...Ch. 5 - The debits and credits from three related...Ch. 5 - Horizon Consulting Company had the following...Ch. 5 - The revenue journal for Sapling Consulting Inc....Ch. 5 - Prob. 8ECh. 5 - Transactions related to revenue and cash receipts...Ch. 5 - Lasting Summer Inc. has 2,510 in the October 1...Ch. 5 - Using the following purchases journal, identify...Ch. 5 - Prob. 12ECh. 5 - Prob. 13ECh. 5 - Guardian Services Inc. had the following...Ch. 5 - Prob. 15ECh. 5 - The cash payments and purchases journals for...Ch. 5 - Transactions related to purchases and cash...Ch. 5 - Happy Tails Inc. has a September 1, 20Y4, accounts...Ch. 5 - After Bunker Hill Assay Services Inc. had...Ch. 5 - Prob. 20ECh. 5 - Prob. 21ECh. 5 - Most computerized accounting systems use...Ch. 5 - Prob. 23ECh. 5 - For each of the following companies, determine...Ch. 5 - Prob. 25ECh. 5 - Prob. 26ECh. 5 - Prob. 27ECh. 5 - Sage Learning Centers was established on July 20...Ch. 5 - Transactions related to revenue and cash receipts...Ch. 5 - Sterling Forest Landscaping designs and installs...Ch. 5 - Prob. 4PACh. 5 - The transactions completed by Revere Courier...Ch. 5 - Guardian Security Services was established on...Ch. 5 - Transactions related to revenue and cash receipts...Ch. 5 - Plumb Line Surveyors provides survey work for...Ch. 5 - Prob. 4PBCh. 5 - The transactions completed by AM Express Company...Ch. 5 - Ethics in Action Netbooks Inc. provides accounting...Ch. 5 - Prob. 3CPCh. 5 - The following conversation took place between...Ch. 5 - A subsidiary ledger is used for accounts...Ch. 5 - For the past few years, your client, Omni Care,...
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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
- Record the following transactions in the purchases journal:arrow_forwardWhich one of the following documents is not needed to process a payment to a vendor? A. vendor invoice B. packing slip C. check request D. purchase orderarrow_forwardA journal entry that requires a debit to Accounts Receivable and a credit to Sales goes in which special journal?arrow_forward
- The payables clerk obtains and matches the purchase order, receiving report, and vendor's invoice and untill all three are obtained, the items are filed in a pending file. True or False?arrow_forwardPLEASE SHOW ME THE JOURNALIZING ENTRIES OF THE TRANSACTION ATTACHED DURING PERPETUAL INVENTORY SYSTEM. THE 2ND PHOTO IS AN EXAMPLEarrow_forwardTrue or False: The posting of purchase transactions to the general ledger is done in the same manner as sales transactions.arrow_forward
- In the sales 3-way match control procedure, which of the following invoice details are agreed to the customer purchase order and shipping document? O Invoice price, vendor, delivery date, quantity. O Invoice date, customer, description, quantity. O Invoice price, customer, delivery date, description, quantity. O Invoice price, vendor, date, description, quantity.arrow_forwardthe purchases and disbursements cycle usually begins when a. a user department request for acquisition of goods or services and submits purchase requisition to the purchasing department b. a check is issued to the vendor or supplier c. the warehouse is received the goods from the vendor or supplier d. the accounting posts the purchase transaction in the accounts payable ledgerarrow_forward
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