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 29BP
Using all journals, posting, and balancing the ledgers
Atlanta Computer Security uses the perpetual inventory system and makes all credit sales on terms of n/30. During March, Atlanta completed these transactions:
Requirements
- 1. Open four-column general ledger accounts using Atlanta Computer Security’s account numbers and balances as of March 1, 2018, that follow. All accounts have normal balances.
- 2. Open four-column accounts in the subsidiary ledgers with beginning balances as of March 1, if any.
Accounts receivable subsidiary ledger: Arrundel Co., $1,900; Common Co., $0; L. E. Kingston, $0; and Suarez, $0. Accounts payable subsidiary ledger: High, $0; Mann Corp, $0; James Swenson, $0; and Young Co., $900. - 3. Enter the transactions in a sales journal (page 8), a cash receipts journal (page 3, omit Sales Discounts Forfeited column), a purchases journal (page 6), a cash payments journal (page 9), and a general journal (page 4), as appropriate.
- 4. Post daily to the accounts receivable subsidiary ledger and to the accounts payable subsidiary ledger.
- 5. Total each column of the special journals. Show that total debits equal total credits in each special journal. On March 31, post to the general ledger.
- 6. Prepare a
trial balance as of March 31, 2018, to verify the equality of the general ledger. Balance the total of the customer account ending balances in the accounts receivable subsidiary ledger against Accounts Receivable in the general ledger. Do the same for the accounts payable subsidiary ledger and Accounts Payable in the general ledger.
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Please help me
Journalize, record, and post when appropriate, the following transactions into the general journal (p. 2) for Joshua's Clothing. All purchases offer credit terms of 4/10, n/30. Assume the perpetual
inventory system.
View the April 202X transactions.
View the accounts payable subsidiary ledger.
View the partial general ledger.
Journalize the transactions. (Record debits first, then credits. Exclude explanations from journal entries.)
April 1: Issued check no. 20 to A. Morris Company in payment of its March 28 invoice no. 522.
Date
Apr. 1
Account Titles
Debit
April 8: Issued check no. 21 to D. Corde in payment of his March 9 invoice no. 821.
Date
Apr. 8
Account Titles
Debit
Credit
Credit
April 15: Issued check no. 22 to B. Nardella in payment of his March 25 invoice no. 488.
Date
Apr. 15
Account Titles
Debit
Credit
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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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