Homework Answers
- Sales journal
- Cash disbursement journal
- Purchase journal
- Sales journal and cash receipts journal
- General journal
- Cash receipts journal
- Purchase journal and cash disbursement journal
- General journal
- Cash disbursement journal
- General journal.
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PROBLEM #2 (2 points each; 20 points) The Jamian Company uses special journa of entries made...
Introduction to Accounting Problem #3) Special Journals The alex Company books and records consist of the...
Introduction to Accounting Problem #3) Special Journals The alex Company books and records consist of the following Journals: a sales Journal (S), a Purchases Journal (P), a Cash Receipts journal (CR), a Cash Payments journal (CP), and a General Journal (J). They also have a General Ledger and two subsidiary ledgers: - Accounts Receivable Subsidary Ledger and - Accounts Payable Subsidary Ledger. REQUIRED: 1) Indicate in which journal each of the following transactions would be recorded; and 2) Indicate which...
Sale journal general journal purchase journal cash payment journal cash receipt journal Wilcox Electronics uses a...
Sale journal
general journal
purchase journal
cash payment journal
cash receipt journal
Wilcox Electronics uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each transaction should be recorded. Transaction Journal a. Borrowed cash from the bank b. Purchased shop supplies on credit c. Purchased merchandise for cash d. Sold a building (nonmerchandise) on credit Sold merchandise on credit f. Sold merchandise for cash g. Paid cash for office supplies...
BE7.8 (LO 3) Villar Co. uses special journals and a general journal. Identify the journal in...
BE7.8 (LO 3) Villar Co. uses special journals and a general journal. Identify the journal in which each of the following transactions is recorded. a. Purchased equipment on account. b. Purchased merchandise on account. c. Paid utility expense in cash. d. Sold merchandise on account. VIII. The income statement and balance sheet columns of Pine Company's work sheet reflect the following totals: (9 points) Balance Sheet Income Statement Cr. $100,000 Dr. $20,000 Dr. Cr. $140,000 Totals $60,000 Net Income/Loss Totals
PROBLEMS le points.cach 40 points) transaction listed below, prepare a journal entry IN GOOD FORM to...
PROBLEMS le points.cach 40 points) transaction listed below, prepare a journal entry IN GOOD FORM to record the dising transactions of the Boston Engine Company, which uses the Perpetual System. (He careful to identify each receivable and payable account) June 2 Purchased merchandise on account from Marvel Company for $22.000 under credit terms of 1/15, net 30, FOB shipping point, invoice dated June 2 DEBIT CREDIT 22,000 DATE Junca ACCOUNT NAME Merchandise inventory ALCount poyable 22.000 4 June 4 Sold...
Sheridan Company uses both special journals and a general journal as described in this chapter. On...
Sheridan Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $297,400; the Accounts Payable control account had a credit balance of $76,900. The July transactions recorded in the special journals are summarized below. No entries affecting accounts receivable and accounts payable were recorded in the general journal for July. Sales journal...
an accounting information system. 4. What is a special journal? 5. What is the purpose of a subsidiary ledger? 6...
an accounting information system. 4. What is a special journal? 5. What is the purpose of a subsidiary ledger? 6. What is a control account? 7. List the four special journals often used in a manual accounting information system. What types of transactions are recorded in each of the special journals? 8. Explain the posting process of the sales journal. 9. Provide some examples of transactions that would be recorded in the Other Accounts CR column of the cash receipts...
This is all of the information I have: Now that you have reviewed information about Cover...
This is all of the information I have: Now that you have reviewed information about Cover 2 Cover, you are ready to begin the first step in the accounting cycle, recording transactions. On this page of the practice set, you are asked to record transactions that occurred during the first week of June into the company's journals and post the appropriate entries to the ledger accounts. The following transactions occurred throughout the first week of June: Week 1 Date Transaction...
This is all of the information I have: Now that you have reviewed information about Cover...
This is all of the information I have: Now that you have reviewed information about Cover 2 Cover, you are ready to begin the first step in the accounting cycle, recording transactions. On this page of the practice set, you are asked to record transactions that occurred during the first week of June into the company's journals and post the appropriate entries to the ledger accounts. The following transactions occurred throughout the first week of June: Week 1 Date Transaction...
Chapter 7-Exercises。 Saved Help Save & Exit Submit Check my work 2 Wilcox Electronics uses a sal...
Chapter 7-Exercises。 Saved Help Save & Exit Submit Check my work 2 Wilcox Electronics uses a sales ournal, purchases ourna cash receipts ourna cash payments ournal and genera jou ma identif the journal in which each transaction should be recorded 2 points Transaction Journal Sales journal Purchases journal Sales journal a. Sold a machine (nonmerchandise) on credit b. Purchased shop supplies on credit c. Sold merchandise on credit d. Purchased merchandise for cash e. Sold a building (nonmerchandise) on credit...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal C) General journal D) Cash receipts journal 22. All of the column totals in the cash receipts journal are posted to general ledger accounts except the A) Accounts Receivable column total. B) Cash column total. C) Sales column total. D) Other Accounts column total. 23. The entries in a sales journal will show A) all sales of merchandise. B) the cash sales of the...
Sale journal
general journal
purchase journal
cash payment journal
cash receipt journal
Wilcox Electronics uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each transaction should be recorded. Transaction Journal a. Borrowed cash from the bank b. Purchased shop supplies on credit c. Purchased merchandise for cash d. Sold a building (nonmerchandise) on credit Sold merchandise on credit f. Sold merchandise for cash g. Paid cash for office supplies...
BE7.8 (LO 3) Villar Co. uses special journals and a general journal. Identify the journal in which each of the following transactions is recorded. a. Purchased equipment on account. b. Purchased merchandise on account. c. Paid utility expense in cash. d. Sold merchandise on account. VIII. The income statement and balance sheet columns of Pine Company's work sheet reflect the following totals: (9 points) Balance Sheet Income Statement Cr. $100,000 Dr. $20,000 Dr. Cr. $140,000 Totals $60,000 Net Income/Loss Totals
PROBLEMS le points.cach 40 points) transaction listed below, prepare a journal entry IN GOOD FORM to record the dising transactions of the Boston Engine Company, which uses the Perpetual System. (He careful to identify each receivable and payable account) June 2 Purchased merchandise on account from Marvel Company for $22.000 under credit terms of 1/15, net 30, FOB shipping point, invoice dated June 2 DEBIT CREDIT 22,000 DATE Junca ACCOUNT NAME Merchandise inventory ALCount poyable 22.000 4 June 4 Sold...
Sheridan Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $297,400; the Accounts Payable control account had a credit balance of $76,900. The July transactions recorded in the special journals are summarized below. No entries affecting accounts receivable and accounts payable were recorded in the general journal for July. Sales journal...
an accounting information system. 4. What is a special journal? 5. What is the purpose of a subsidiary ledger? 6. What is a control account? 7. List the four special journals often used in a manual accounting information system. What types of transactions are recorded in each of the special journals? 8. Explain the posting process of the sales journal. 9. Provide some examples of transactions that would be recorded in the Other Accounts CR column of the cash receipts...
Chapter 7-Exercises。 Saved Help Save & Exit Submit Check my work 2 Wilcox Electronics uses a sales ournal, purchases ourna cash receipts ourna cash payments ournal and genera jou ma identif the journal in which each transaction should be recorded 2 points Transaction Journal Sales journal Purchases journal Sales journal a. Sold a machine (nonmerchandise) on credit b. Purchased shop supplies on credit c. Sold merchandise on credit d. Purchased merchandise for cash e. Sold a building (nonmerchandise) on credit...
21. Which of the following is not a special journal? A) Sales journal B) Purchases journal C) General journal D) Cash receipts journal 22. All of the column totals in the cash receipts journal are posted to general ledger accounts except the A) Accounts Receivable column total. B) Cash column total. C) Sales column total. D) Other Accounts column total. 23. The entries in a sales journal will show A) all sales of merchandise. B) the cash sales of the...
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