Accounting
27th Edition
ISBN: 9781337272094
Author: WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher: Cengage Learning,
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Chapter 5, Problem 5.16EX
Accounts payable subsidiary ledger
The cash payments and purchases journals for Outdoor Artisan Landscaping follow. The accounts payable control account has a June 1, 20Y1, balance of $2,230, consisting of an amount owed to Augusta Sod Co.
Prepare a schedule of the accounts payable creditor balances and determine that the total agrees with the ending balance of the accounts payable controlling account.
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Accounts Payable Subsidiary Ledger
The cash payments and purchases journal for Outdoor Artisan Landscaping follow. The accounts payable control account has a June 1, 20Y1, balance of $4,820, consisting of an amount owed to Augusta Sod Co.
CASH PAYMENTS JOURNAL
Page 31
Date
Ck. No.
Account Debited
Post Ref.
Other Accounts Dr.
Accounts Payable Dr.
Cash Cr.
20Y1
June 4
203
Augusta Sod Co.
√
4,820
4,820
5
204
Utilities Expense
54
630
630
15
205
Home Centers Lumber Co.
√
7,900
7,900
24
206
Nu Lawn Fertilizer
√
1,400
1,400
30
630
14,120
14,750
(√)
(21)
(11)
PURCHASES JOURNAL
Page 22
Date
Account Credited
Post Ref.
Accounts Payable Cr.
Landscaping Supplies Dr.
Other Accounts Dr.
Post Ref.
Amount
20Y1
June 3
Home Centers Lumber Co.
√
7,900
7,900
7
Concrete Equipment Co.
√
3,660
Equipment
18
3,660
14
Nu Lawn Fertilizer
√
1,400
1,400
24
Augusta Sod Co.…
Prepare a schedule of the accounts payable creditor balances. If an amount is zero, enter "0".
Magnolia Landscaping
Accounts Payable Creditor Balances
June 30, 20Y1
Augusta Sod Co.
Concrete Eguipment Co.
Home Centers Lumber Co.
Nu Lawn Fertilizer
Total accounts payable
$
After you prepare the schedule of the accounts payable creditor balances, determine that the total agrees with the ending balance of the accounts payable controlling account.
Magnolia Landscaping
Accounts Payable
(Controlling)
Balance, June 1, 20Y1
Total credits (from purchases journal)
Total debits (from cash payments journal)
Balance, June 30, 20Y1
Multiple choice
Chapter 5 Solutions
Accounting
Ch. 5 - Why would a company maintain separate accounts...Ch. 5 - What are the major advantages of the use of...Ch. 5 - Prob. 3DQCh. 5 - How many postings to Fees Earned for the month...Ch. 5 - During the current month, the following errors...Ch. 5 - Prob. 6DQCh. 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 - Revenue journal The following revenue transactions...Ch. 5 - Revenue journal The following revenue transactions...Ch. 5 - Accounts receivable subsidiary ledger The debits...Ch. 5 - Accounts receivable subsidiary ledger The debits...Ch. 5 - Purchases journal The following purchase...Ch. 5 - Purchases journal The following purchase...Ch. 5 - Accounts payable subsidiary ledger The debits and...Ch. 5 - Accounts payable subsidiary ledger The debits and...Ch. 5 - Segment analysis McHale Company does business in...Ch. 5 - Segment analysis Back Country Life, Inc., does...Ch. 5 - Identify postings from revenue journal Using the...Ch. 5 - Accounts receivable ledger Based on the data...Ch. 5 - Identify journals Assuming the use of a two-column...Ch. 5 - Identify journals Assuming the use of a two-column...Ch. 5 - Identify transactions in accounts receivable...Ch. 5 - Prepare journal entries in a revenue journal...Ch. 5 - Posting a revenue journal The revenue journal for...Ch. 5 - Accounts receivable subsidiary ledger The revenue...Ch. 5 - Revenue and cash receipts journals Transactions...Ch. 5 - Revenue and cash receipts journals Lasting Summer...Ch. 5 - Prob. 5.11EXCh. 5 - Prob. 5.12EXCh. 5 - Identify transactions in accounts payable...Ch. 5 - Prepare journal entries in a purchases journal...Ch. 5 - Posting a purchases journal The purchases journal...Ch. 5 - Accounts payable subsidiary ledger The cash...Ch. 5 - Purchases and cash payments journals Transactions...Ch. 5 - Purchases and cash payments journals Happy Tails...Ch. 5 - Error in accounts payable subsidiary ledger After...Ch. 5 - Prob. 5.20EXCh. 5 - Cash receipts journal The following cash receipts...Ch. 5 - Computerized accounting systems Most computerized...Ch. 5 - Prob. 5.23EXCh. 5 - Prob. 5.24EXCh. 5 - Segment revenue horizontal analysis Starbucks...Ch. 5 - Prob. 5.26EXCh. 5 - Segment revenue horizontal and vertical analyses...Ch. 5 - Revenue journal; accounts receivable subsidiary...Ch. 5 - Revenue and cash receipts journals; accounts...Ch. 5 - Purchases, accounts payable subsidiary account,...Ch. 5 - Purchases and cash payments journals; accounts...Ch. 5 - All journals and general ledger; trial balance The...Ch. 5 - Revenue journal; accounts receivable subsidiary...Ch. 5 - Revenue and cash receipts journals; accounts...Ch. 5 - Purchases, accounts payable account, and accounts...Ch. 5 - Purchases and cash payments journals; accounts...Ch. 5 - All journals and general ledger; trial balance The...Ch. 5 - Ethics in Action Netbooks Inc. provides accounting...Ch. 5 - Communication Internet-based accounting software...Ch. 5 - Manual vs. computerized accounting systems The...Ch. 5 - Accounts receivable and accounts payable A...Ch. 5 - Design of accounting systems For the past few...
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