Horngren's Accounting, Student Value Edition Plus MyAccountingLab with Pearson eText, Access Card Package
Horngren's Accounting, Student Value Edition Plus MyAccountingLab with Pearson eText, Access Card Package
11th Edition
ISBN: 9780134078946
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter 7, Problem P7.29BPGB
To determine

Concept Introduction:

The four column general ledger is ledger account in which the balance column is divided into two parts i.e. debit and credit side.

The subsidiary ledgers are the ledgers which are used to keep a track record of customer and vendors transactions at each individual vendor and customer level. There are special ledgers which are used to maintain special nature of transactions such as sales journal for credit sale transactions, purchase journal for credit purchase transactions, cash receipt and cash disbursement journal for cash receipts and cash payments.

Requirement-1:

To Prepare:

We have to open four column general ledgers for all ledger accounts of Kingston Computer Security indicating opening balance as on March,1 2016.

To determine

Requirement-2:

To prepare:

We have to prepare accounts receivable and accounts payable subsidiary ledgers with opening balances as of March,1 .

To determine

Requirement-3:

To prepare:

We have to prepare cash receipt journal, cash payment journal, sales journal, purchase journal and general journal and have to posting the entries into journals from the transactions given in question.

To determine

Requirement-4:

To prepare:

We have to post accounts receivable and accounts payable entries to the subsidiary ledgers of accounts payable and accounts receivable.

To determine

Requirement-5:

To prepare:

We have to prepare the total column of purchase journal, sales journal, cash receipt journal, cash disbursement journal showing total debit and total credits calculated in requirement-3 and have to post all journals into general ledgers.

To determine

Requirement-6:

To prepare:

We have to prepare trial balance as of March 31 and have to match the total of accounts receivable and accounts payable ledger with the subsidiary ledgers.

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Chapter 7 Solutions

Horngren's Accounting, Student Value Edition Plus MyAccountingLab with Pearson eText, Access Card Package

Ch. 7 - Prob. 2RQCh. 7 - Explain the three basic components of an...Ch. 7 - What is a special journal?Ch. 7 - What is the purpose of a subsidiary ledger?Ch. 7 - Prob. 6RQCh. 7 - List the four special journals often used in a...Ch. 7 - Explain the posting process of the sales journal.Ch. 7 - Provide some examples of transactions that would...Ch. 7 - What are the columns that are typically used in...Ch. 7 - Prob. 11RQCh. 7 - When is the general journal used in a manual...Ch. 7 - Explain the two components of a computerized...Ch. 7 - Prob. 14RQCh. 7 - What is an enterprise resource planning (ERP)...Ch. 7 - Prob. 16RQCh. 7 - How would a business record a sale of services on...Ch. 7 - How would a business record a bill received in...Ch. 7 - Prob. S7.1SECh. 7 - Defining components of an accounting information...Ch. 7 - Identifying special journals Learning Objective 2...Ch. 7 - Prob. S7.4SECh. 7 - Posting transactions from a sales journal to a...Ch. 7 - Prob. S7.6SECh. 7 - Prob. S7.7SECh. 7 - Prob. S7.8SECh. 7 - Posting transactions from a purchases journal to a...Ch. 7 - Prob. S7.10SECh. 7 - S7-6 Recording transactions in a cash receipts...Ch. 7 - Prob. S7.12SECh. 7 - Prob. S7.13SECh. 7 - Prob. E7.14ECh. 7 - Prob. E7.15ECh. 7 - Prob. E7.16ECh. 7 - Prob. E7.17ECh. 7 - Prob. E7.18ECh. 7 - Prob. E7.19ECh. 7 - Recording transactions-cash payments journal...Ch. 7 - Prob. E7.21ECh. 7 - Identifying transactions in the accounts payable...Ch. 7 - Prob. E7.23ECh. 7 - Using the sales, cash receipts, and general...Ch. 7 - Prob. P7.25APGACh. 7 - Using all journals, posting, and balancing the...Ch. 7 - Prob. P7.27BPGBCh. 7 - Prob. P7.28BPGBCh. 7 - Prob. P7.29BPGBCh. 7 - >Continuing Problem P7-30 Using all journals This...Ch. 7 - >Practice Set P7-31 Using all journals This...Ch. 7 - Prob. 1CPCh. 7 - Prob. 2CPCh. 7 - Prob. 3CPCh. 7 - Prob. 4CPCh. 7 - Prob. 5CPCh. 7 - Prob. 6CPCh. 7 - Prob. 7CPCh. 7 - Prob. 8CPCh. 7 - Prob. 9CPCh. 7 - Decision Case 7-1 A fire destroyed certain...Ch. 7 - Fraud Case 7-1 Didrikson Rubin, the auditor of Red...
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