Homework Answers
1. Jan 31 balance in subsidiary account = 11400 - 3900 -2100 = 5400
2. Jan 31 balance in control account = Opening balance + Total credit sales - Total collections - Returns
= 11400 + ( 9000+6500+8100) - ( 7700+2500+8700) - 2700
= 13400
3. Balances in subsidiary accounts:
Bixler Co = 3900 + 9000 - 7700 = 5200
Cuddyer Co = 2100+ 6500 -2500 -2700 = 3400
Freeze Co = (11400 - 3900-2100) + 8100- 8700 = 4800
Add Answer to:
Exercise 7-04 a-d (Part Level Submission) Crane Company has a balance in its Accounts Receivable control...
Exercise 7-05 a-d (Part Level Submission) Sunland Company has a balance in its Accounts Payable control...
Exercise 7-05 a-d (Part Level Submission) Sunland Company has a balance in its Accounts Payable control account of $8,680 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,990; Janish Company, balance $1,840; and Valdez Company. During January, the following payable-related transactions occurred. Hale Company Janish Company Valdez Company Purchases Payments Returns $6,620 $6,430 $ 0 5,700 1,840 3,040 6,465 6,810 0 (a) What is the January 1 balance in the Valdez Company subsidiary account? Balance...
Exercise 7-05 a-d (Part Level Submission) Cullumber Company has a balance in its Accounts Payable control...
Exercise 7-05 a-d (Part Level Submission) Cullumber Company has a balance in its Accounts Payable control account of $8.690 on lanuary 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,870; Janish Company, balance $1,840; and Valdez Company. During January, the following payable-related transactions occurred Part Part Purchases Payments Returns Hale Company $7,230 $5,670 Janish Company Valdez Company 5,280 1,840 2,870 udy 6,745 6,160
Maldanada Company has a balance in its Accounts Payable control account of $10,500 on January 1,...
Maldanada Company has a balance in its Accounts Payable control account of $10,500 on January 1, 2020. The subsidiary ledger contains three accounts: Smith Company, balance $3,000; White Company, balance $2,500 and Marino Company. During January, the following payable-related transactions occurred. Smith Company White Company Marino Company Purchases $8,500 5,250 6,100 Payments $6,000 2,500 6,250 Returns $ -0- 1,500 What was the January 1 Balance in the Marino Co. Subsidiary account? What is the January 31 Balance in the control...
Question 3 Ivanhoe Company has a balance in its Accounts Payable control account of $8,450 on...
Question 3 Ivanhoe Company has a balance in its Accounts Payable control account of $8,450 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,940; lanish Company, balance 51.630, and Valdez Company. During January, the following payable-related transactions occurred. Purchases Payments Returns Hale Company $6,920 $5,900 $0 Janish Company 5,300 1,630 2,750 Valdez Company 6,635 6,220 0 What is the January 1 balance in the Valdez Company subsidiary account? Balance in the Valdez Company subsidiary accounts...
Cullumber Company has a balance in its Accounts Payable control account of $8,690 on January 1,...
Cullumber Company has a balance in its Accounts Payable control account of $8,690 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,870; Janish Company, balance $1,840; and Valdez Company. During January, the following payable-related transactions occurred. Hale Company Janish Company Valdez Company Purchases $7,230 5,280 6,745 Payments $5,670 1,840 6,160 Returns $0 2.870 0 (a) Your answer is incorrect. What is the January 1 balance in the Valdez Company subsidiary account? Balance in the Valdez...
question 4 Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, bal...
question 4
Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, balance of s 3,000; Keller Company, balance of $ 1,000, arson Company. The combined subsidiary ledger account balances of Jones 4 Com om,Keller Company, and Larson Company at January 1, 2019 agree to the Accounts unts receivable general ledger control account balance at such date. During January 2019,...
Exercise 4-03 al-a3 (Part Level Submission) The adjusted trial balance columns of the worksheet for Crane...
Exercise 4-03 al-a3 (Part Level Submission) The adjusted trial balance columns of the worksheet for Crane Company are as follows. The owner did not make any additional investments in the business in April. Cash CRANE COMPANY Worksheet (partial) For the Month Ended April 30, 2020 Adjusted Trial Balance Account Titles 10,100 Accounts Receivable 7,700 Prepaid Rent 2,500 Equipment 22,800 Accumulated Depreciation - Equip. 5,400 Notes Payable 5,500 Accounts Payable 5.400 Owner's Capital 26,930 Owner's Drawings 3,500 Service Revenue 15,700 Salaries...
Exercise 8-3 (Part Level Submission) At the beginning of the current period, Crane Company had ba...
Exercise 8-3 (Part Level Submission) At the beginning of the current period, Crane Company had balances in Accounts Receivable of $192,800 and in Allowance for Doubtful Accounts of $8,520 (credit) During the period, it had net credit sales of $722,500 and collections of $708,940. It wrote off as uncollectible accounts receivable of $7,972. However, a $3,275 account previously written off as uncollectible was recovered before the end of the current period. ncollectible accounts are estimated tồ to a S2 2...
Exercise 20-09 a-c (Part Level Submission) At May 31, 2020, the accounts of Crane Company show...
Exercise 20-09 a-c (Part Level Submission) At May 31, 2020, the accounts of Crane Company show the following 1. May 1 Inventories-finished goods $14,400, work in process $17,400, and raw materials $9,000 2. May 31 inventories-finished goods $9,600, work in process $16,800, and raw materials $8,200. 3. Debit postings to work in process were direct materials $65,400, direct labor $51,900, and manufacturing overhead applied $42,400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $217,000. (a)...
Exercise 8-4 (Part Level Submission) Menge Company has accounts receivable of $108,900 at March 31. An...
Exercise 8-4 (Part Level Submission) Menge Company has accounts receivable of $108,900 at March 31. An analysis of the accounts shows the following information. Month of Sale March February January Prior to January Balance, March 31 $70,800 20,300 9,400 8,400 $108,900 Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful Accounts has a credit balance of $1,470 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown...
Exercise 7-05 a-d (Part Level Submission) Sunland Company has a balance in its Accounts Payable control account of $8,680 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,990; Janish Company, balance $1,840; and Valdez Company. During January, the following payable-related transactions occurred. Hale Company Janish Company Valdez Company Purchases Payments Returns $6,620 $6,430 $ 0 5,700 1,840 3,040 6,465 6,810 0 (a) What is the January 1 balance in the Valdez Company subsidiary account? Balance...
Exercise 7-05 a-d (Part Level Submission) Cullumber Company has a balance in its Accounts Payable control account of $8.690 on lanuary 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,870; Janish Company, balance $1,840; and Valdez Company. During January, the following payable-related transactions occurred Part Part Purchases Payments Returns Hale Company $7,230 $5,670 Janish Company Valdez Company 5,280 1,840 2,870 udy 6,745 6,160
Maldanada Company has a balance in its Accounts Payable control account of $10,500 on January 1, 2020. The subsidiary ledger contains three accounts: Smith Company, balance $3,000; White Company, balance $2,500 and Marino Company. During January, the following payable-related transactions occurred. Smith Company White Company Marino Company Purchases $8,500 5,250 6,100 Payments $6,000 2,500 6,250 Returns $ -0- 1,500 What was the January 1 Balance in the Marino Co. Subsidiary account? What is the January 31 Balance in the control...
Question 3 Ivanhoe Company has a balance in its Accounts Payable control account of $8,450 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,940; lanish Company, balance 51.630, and Valdez Company. During January, the following payable-related transactions occurred. Purchases Payments Returns Hale Company $6,920 $5,900 $0 Janish Company 5,300 1,630 2,750 Valdez Company 6,635 6,220 0 What is the January 1 balance in the Valdez Company subsidiary account? Balance in the Valdez Company subsidiary accounts...
Cullumber Company has a balance in its Accounts Payable control account of $8,690 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,870; Janish Company, balance $1,840; and Valdez Company. During January, the following payable-related transactions occurred. Hale Company Janish Company Valdez Company Purchases $7,230 5,280 6,745 Payments $5,670 1,840 6,160 Returns $0 2.870 0 (a) Your answer is incorrect. What is the January 1 balance in the Valdez Company subsidiary account? Balance in the Valdez...
question 4
Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, balance of s 3,000; Keller Company, balance of $ 1,000, arson Company. The combined subsidiary ledger account balances of Jones 4 Com om,Keller Company, and Larson Company at January 1, 2019 agree to the Accounts unts receivable general ledger control account balance at such date. During January 2019,...
Exercise 4-03 al-a3 (Part Level Submission) The adjusted trial balance columns of the worksheet for Crane Company are as follows. The owner did not make any additional investments in the business in April. Cash CRANE COMPANY Worksheet (partial) For the Month Ended April 30, 2020 Adjusted Trial Balance Account Titles 10,100 Accounts Receivable 7,700 Prepaid Rent 2,500 Equipment 22,800 Accumulated Depreciation - Equip. 5,400 Notes Payable 5,500 Accounts Payable 5.400 Owner's Capital 26,930 Owner's Drawings 3,500 Service Revenue 15,700 Salaries...
Exercise 8-3 (Part Level Submission) At the beginning of the current period, Crane Company had balances in Accounts Receivable of $192,800 and in Allowance for Doubtful Accounts of $8,520 (credit) During the period, it had net credit sales of $722,500 and collections of $708,940. It wrote off as uncollectible accounts receivable of $7,972. However, a $3,275 account previously written off as uncollectible was recovered before the end of the current period. ncollectible accounts are estimated tồ to a S2 2...
Exercise 20-09 a-c (Part Level Submission) At May 31, 2020, the accounts of Crane Company show the following 1. May 1 Inventories-finished goods $14,400, work in process $17,400, and raw materials $9,000 2. May 31 inventories-finished goods $9,600, work in process $16,800, and raw materials $8,200. 3. Debit postings to work in process were direct materials $65,400, direct labor $51,900, and manufacturing overhead applied $42,400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $217,000. (a)...
Exercise 8-4 (Part Level Submission) Menge Company has accounts receivable of $108,900 at March 31. An analysis of the accounts shows the following information. Month of Sale March February January Prior to January Balance, March 31 $70,800 20,300 9,400 8,400 $108,900 Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful Accounts has a credit balance of $1,470 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown...
Most questions answered within 3 hours.
-
Given that many conflict are the result of different parties having
different interests, is it possible...
asked 54 seconds ago -
A 750 g block can slide uniformly along the horizontal track
when a string attached to...
asked 3 minutes ago -
In 2017, Juan entered into a contract to write a book. The
publisher advanced Juan $50,000,...
asked 17 minutes ago -
Determine the number of kinds of protons in each molecule (w/
respect to NMR spectroscopy). Drawing...
asked 27 minutes ago -
A jeweler whose near point is 68 cm from his eye uses a
magnifying glass as...
asked 25 minutes ago -
A company wants to determine how many units of each of two
products, A and B,...
asked 29 minutes ago -
The blood pressure of a person changes throughout the day.
Suppose the systolic blood pressure of...
asked 38 minutes ago -
A chemistry student desired to study sulfur. Sulfur exhibited
the following characteristics with oxygen:
(a) It...
asked 34 minutes ago -
An Atwood machine is constructed of a solid-disk frictionless
pulley of mass m3 and radius R....
asked 36 minutes ago -
what are the advantages of lanthanum hexaboride over tungsten
filament for electron emission
what is the...
asked 37 minutes ago -
Question 5
Your uncle offers to sell you his vintage Rolls Royce. He
suggests a payment...
asked 42 minutes ago -
Quality grading of beef products as Prime, Choice, Select. What
type of data?
A) ratio
B)...
asked 51 minutes ago