Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
6th Edition
ISBN: 9780134486857
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter B, Problem 20E
Requirement 1:
To determine
Journalize the transactions in the cash payment journal.
Requirement 2:
To determine
Determine the total each column of the cash payments journal.
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Describe and use the cash payments journal. What steps are followed in posting from cash payments journal to the accounts payable ledger?
Consider the following information items as you respond to the question:i. Customer master fileii. Journal entry to record the receipt of cashiii. Pre-numbered documentsiv. Schedule of accounts receivableAccounting information systems have five generic elements. Which of the following statements is most true?
A. "Pre-numbered documents" can be an example of three of the five elements.
B. "Schedule of accounts receivable" can be an example of all five elements.
C. Both "Pre-numbered documents" can be an example of three of the five elements and "Schedule of accounts receivable" can be an example of all five elements are true.
D. Neither "Pre-numbered documents" can be an example of three of the five elements nor "Schedule of accounts receivable" can be an example of all five elements is true.
Match the transactions below with the journal or ledger in which it would be entered.
Clear All
Cash receipts journal
Cash payments journal
Accounts payable subsidiary ledger
Record payment received from customer
Record payment made to vendor
Cash payment posting to an individual vendor account
Chapter B Solutions
Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
Ch. B - Match the benefit of an effective accounting...Ch. B - Prob. 2TICh. B - Prob. 3TICh. B - Prob. 4TICh. B - Prob. 5TICh. B - Prob. 6TICh. B - Prob. 7TICh. B - Prob. 8TICh. B - Prob. 1QCCh. B - Prob. 2QC
Ch. B - Prob. 3QCCh. B - Prob. 4QCCh. B - Prob. 5QCCh. B - Prob. 6QCCh. B - Prob. 7QCCh. B - When using a manual accounting information system,...Ch. B - Prob. 9QCCh. B - Prob. 1RQCh. B - Prob. 2RQCh. B - Prob. 3RQCh. B - Prob. 4RQCh. B - What is the purpose of a subsidiary ledger?Ch. B - Prob. 6RQCh. B - List the four special journals often used in a...Ch. B - Explain the posting process of the sales journal.Ch. B - Prob. 9RQCh. B - What are the columns that are typically used in...Ch. B - Explain the posting process of the cash payments...Ch. B - When is the general journal used in a manual...Ch. B - Prob. 13RQCh. B - Prob. 14RQCh. B - Prob. 15RQCh. B - How is QuickBooks organized?Ch. B - How would a business record a sale of services on...Ch. B - How would a business record a bill received in...Ch. B - Prob. 1SECh. B - Prob. 2SECh. B - Identifying special journals Use the following...Ch. B - Prob. 4SECh. B - Prob. 5SECh. B - Prob. 6SECh. B - Prob. 7SECh. B - Prob. 8SECh. B - Prob. 9SECh. B - Prob. 10SECh. B - Prob. 11SECh. B - Prob. 12SECh. B - Prob. 13SECh. B - Prob. 14ECh. B - Prob. 15ECh. B - Prob. 16ECh. B - Prob. 17ECh. B - Identifying transactions in the accounts...Ch. B - Prob. 19ECh. B - Prob. 20ECh. B - Prob. 21ECh. B - Prob. 22ECh. B - Prob. 23ECh. B - Prob. 24APCh. B - Prob. 25APCh. B - Using all journals, posting, and balancing the...Ch. B - Prob. 27BPCh. B - Using the purchases, cash payments, and general...Ch. B - Using all journals, posting, and balancing the...Ch. B - Prob. 30PCh. B - Prob. 31PCh. B - Prob. 1COMPCh. B - Prob. 1TIATCCh. B - Prob. 1DCCh. B - Prob. 1FCCh. B - Prob. 1CA
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- Record the following transactions in the cash receipts journal.arrow_forwardDescribe the posting procedure for a cash payments journal with an Other Accounts Debit column and several special columns, including an Accounts Payable Debit column.arrow_forwardRecord the following transactions in the cash disbursements journal:arrow_forward
- Record the following sales transactions of Money Office Supplies.arrow_forwardWhat steps are followed in posting cash receipts from the general journal to the accounts receivable ledger?arrow_forwardUse the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable.arrow_forward
- All sales, for cash or on credit, can be recorded in the general journal.arrow_forwardWhat is the accounts receivable ledger? a. A record of credit customers and their balances b. A record of vendors and their balances c. Part of the sales journal d. Part of the general journal e. Part of the general ledgerarrow_forwardWhen posting the column totals of a cash payments journal, a debit should be posted to a.Unearned Revenue b.Sales Discounts c.Accounts Payable d.Casharrow_forward
- Review the following transactions Requirements A (Click the icon to vicw the transactions ) 1. Prepare headings for a cash receipts journal. Jounalize the transactions that should be recorded in the cash receipts journal Total each column of the cash receipts journal 2. Requirements 1 & 2. Prepare headings for a cash receipts journal. Journalize the transactions that should be recorded in the cash receipts journal. Total each column of the cash receipts journal. (If a box is not used in the journal leave the box empty, do not select information and do not enter a zero. Abbreviations used Disc. = Discount, Acct = Accounts, Pay = Payable, Rec = Reccivable, Rev = Revenue, Oth = Other, COGS = Cost of Goods Sold, Mer = Merchandise, Inv. = Inventory, and Sis Dsc. Forf = Sales Discounts Forteited.) Cash Receipte Journal Page More info PR Feb. 1 Sold merchandise inventory on account, terms n/30, to Clara Co., $1,275. Cost of SpOods, $010. Invoice no. 401. Feb. Feb. 6 Sold merchandise inventory…arrow_forwardThe sales journal is used to record a. Credit sales. d. Cash purchases. b. Cash sales. e. Credit purchases. c. Cash receipts.arrow_forwardAll cash payments are recorded in: Sales Journal Cash Payments Journal Cash Receipts Journal General Journalarrow_forward
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