Study Guide 9

Report 1903 Downloads 9106 Views

(p. 239). 13. A cash payments journal includes a special amount column for the cash account and the ..... Ace Manufacturing .... Accounts Payable/Office Express.

SECOND REVISED

b-te_09-study-189-192.qxd 10/29/07 5:27 PM Page 189

Study Guide 9

Perfect Score

Name Identifying Accounting Terms Analyzing Accounting Concepts and Practices Analyzing Transactions Recorded in Special Journals Total

19 27 24 70

Your Score

Pts. Pts. Pts. Pts.

Part One—Identifying Accounting Terms Directions: Select the one term in Column I that best fits each definition in Column II. Print the letter identifying your choice in the Answers column.

Column II

Column I A. capital stock B. cash discount C. cash payments journal D. contra account E. corporation F. cost of merchandise G. debit memorandum H. list price I.

markup

J.

purchase invoice

K. purchase on account L. purchases allowance M. purchases discount N. purchases return O. share of stock P. stockholder

Q. terms of sale

R. trade discount

S. vendor

Answers

1. An organization with the legal rights of a person and which many persons may own. (p. 234) 2. Each unit of ownership in a corporation. (p. 234) 3. Total shares of ownership in a corporation. (p. 234) 4. An owner of one or more shares of a corporation. (p. 234) 5. The price a business pays for goods it purchases to sell. (p. 236) 6. The amount added to the cost of merchandise to establish the selling price. (p. 236) 7. A business from which merchandise is purchased or supplies or other assets are bought. (p. 236) 8. A transaction in which the merchandise purchased is to be paid for later. (p. 236) 9. An invoice used as a source document for recording a purchase on account transaction. (p. 238) 10. An agreement between a buyer and a seller about payment for merchandise. (p. 238) 11. A special journal used to record only cash payment transactions. (p. 242) 12. A deduction that a vendor allows on the invoice amount to encourage prompt payment. (p. 242) 13. A cash discount on purchases taken by a customer. (p. 242) 14. The retail price listed in a catalog or on an Internet site. (p. 244) 15. A reduction in the list price granted to customers. (p. 244) 16. An account that reduces a related account on a financial statement. (p. 245) 17. Credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer’s accounts payable. (p. 256) 18. Credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customer’s accounts payable. (p. 256) 19. A form prepared by the customer showing the price deduction taken by the customer for returns and allowances. (p. 256)

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

1.

E

2. 3. 4. 5.

O A P F

6.

I

7.

S

8.

K

9.

J

10.

Q

11.

C

12.

B

13. 14.

M H

15. 16.

R D

17.

N

18.

L

19.

G

Chapter 9 • 189

SECOND REVISED

b-te_09-study-189-192.qxd 10/29/07 5:27 PM Page 190

Part Two—Analyzing Accounting Concepts and Practices Directions: Place a T for True or an F for False in the Answers column to show whether each of the following statements is true or false.

Answers 1. Unlike a proprietorship, a corporation exists independent of its owners. (p. 234) 2. A corporation can incur liabilities but cannot own property. (p. 234) 3. As in proprietorships, information in a corporation's accounting system is kept separate from the personal records of the owners, and this accounting concept application is called a Business Entity. (p. 234) 4. The selling price of merchandise must be greater than the cost of merchandise for a business to make a profit. (p. 236) 5. The cost account Purchases is used only to record the value of merchandise purchased. (p. 236) 6. When purchases are recorded at their cost, including any related shipping costs and taxes, the Historical Cost accounting concept is being applied. (p. 236) 7. Recording entries in a journal with special amount columns saves time. (p. 237) 8. All purchase transactions, including purchases made on account and purchases made for cash, are recorded in the purchases journal. (p. 237) 9. The source document for recording a purchase on account transaction is a memorandum describing the merchandise purchased. (p. 238) 10. By listing the quantity, the description, the price of each item, and the total amount purchased, the Objective Evidence concept is applied. (p. 238) 11. A purchase invoice usually lists only the total cost of the merchandise. (p. 238) 12. A purchase on account transaction increases the amount owed to a vendor. (p. 239) 13. A cash payments journal includes a special amount column for the cash account and the accounts payable account. (p. 242) 14. The source document for most cash payments is the check issued. (p. 242) 15. When supplies are purchased for use in the business, the amount is recorded in the purchases account. (p. 243) 16. A special journal entry is made to show the amount of a trade discount. (p. 244) 17. The terms of sale 2/15, n/30 mean that 2% of the invoice amount may be deducted if paid within 15 days of the invoice date or the total invoice amount must be paid within 30 days. (p. 245) 18. Purchase discounts are recorded in the general journal. (p. 245) 19. The contra account Purchases Discount has a normal credit balance. (p. 245) 20. The custodian prepares a petty cash report when the petty cash fund is to be replenished. (p. 248) 21. The petty cash account Cash Short and Over is a permanent account. (p. 249) 22. A journal is proved and ruled only at the end of a fiscal period. (p. 250) 23. To begin a new journal page, the totals from the previous journal page are carried forward to the next journal page. (p. 251) 24. Buying supplies on account is recorded in the general journal. (p. 254) 25. When supplies are purchased on account, the Store Supplies account balance increases and the Accounts Payable account balance increases. (p. 255) 26. The source document for a purchases return is a check. (p. 256) 27. The normal account balance of Purchases Returns and Allowances is a credit. (p. 257)

190 • Working Papers TE

1. 2. 3.

T F T

4.

T

5. 6.

T T

7. 8.

T F

9.

F

10.

T

11. 12. 13.

F T T

14. 15.

T F

16. 17.

F T

18. 19. 20.

F T T

21. 22. 23.

F F T

24. 25.

T T

26. 27.

F T

CENTURY 21 ACCOUNTING, 9TH EDITION

SECOND REVISED

b-te_09-study-189-192.qxd 10/29/07 5:27 PM Page 191

Name

Date

Class

Part Three—Analyzing Transactions Recorded in Special Journals Directions: In Answers Column l, print the abbreviation for the journal in which each transaction is to be recorded. In Answers Columns 2 and 3, print the letters identifying the accounts to be debited and credited for each transaction. PJ—Purchases journal; GJ—General journal; CPJ—Cash payments journal

Answers Account Titles

Transactions

Journal Debit Credit

A. Accounts Payable

1–2–3. Purchased merchandise on account from Wixom Sports. (p. 239)

1. PJ

2.

F

3. A, L

B. Cash

4–5–6. Paid cash for rent. (p. 243)

4. CPJ

5.

I

6.

B

7. CPJ

8.

F

9.

B

C. Cash Short and Over 7–8–9. Purchased merchandise for cash. (p. 244) D. Miscellaneous Expense 10–11–12. Paid cash on account to Wixom Sports, less purchases discount. (p. 245) E. Petty Cash 13–14–15. Paid cash on account to Tri-County Suppliers. F. Purchases (p. 246) G. Purchases 16–17–18. Paid cash to replenish the petty cash fund: Discount supplies, miscellaneous, cash over. (p. 249) H. Purchases 19–20–21. Bought supplies on account from Yukon Outfitters. Returns and (p. 255) Allowances 22–23–24. Returned merchandise to Tri-County Suppliers. I. Rent Expense (p. 257) J. Supplies

10. CPJ 11. A, L 12. B, G 13. CPJ 14. A, K 15.

B

16. CPJ 17. D, J 18. B, C 19. GJ

20.

J

21. A, M

22. GJ

23. A, K 24.

H

K. Tri-County Suppliers L. Wixom Sports M. Yukon Outfitters

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

Chapter 9 • 191

SECOND REVISED

b-te_09-study-189-192.qxd 10/29/07 5:27 PM Page 192

Study Skills Skimming and Careful Reading We must learn to use different techniques as we read. Sometimes we need to skim material very quickly, touching only the high points. At other times we need to read slowly and carefully, concentrating on every word. Skimming Skimming helps you gain a general understanding of what is contained in material without slow and careful reading. You may wish to skim a magazine article to determine if it contains information you want to read carefully later. You can use skimming to preview an assignment before you read for details. You should first read the title and the introduction quickly. You should then read the main headings and glance through the paragraphs. By skimming first, you will know what is included before you become involved in the details. If you own the book, you may wish to use a highlighter sparingly as you skim. This will help call your attention to certain parts of a selection later. If you highlight too much, it will be of little help to you. You can also use skimming to review material that you have studied previously. Before an exam, for example, you may want to read quickly through the material to be sure that you have not forgotten any important points. Careful Reading Many times you will be responsible for every detail in a reading assignment. You may have to remember names, dates, and facts that are of great importance. Before you read for details, you should skim the material first to gain an overview. Then you should read it slowly and carefully. As you read carefully, you should ask yourself what is included in each paragraph. If you can summarize each paragraph as you read, you will have a good understanding. Then you should determine if you can remember names, dates, and other details. If you cannot, you should read the material again, concentrating on the details while keeping the overall picture in mind. Conclusion Skimming and careful reading are techniques that will be extremely useful to you in the future. You should know which technique to use and be sure to use it properly. Skimming will give you an overall view of the material. Careful reading will ensure that you know the details.

192 • Working Papers TE

CENTURY 21 ACCOUNTING, 9TH EDITION

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 193

Name

Date

9-1

Class

WORK TOGETHER, p. 241

Journalizing purchases using a purchases journal PURCHASES JOURNAL DATE

ACCOUNT CREDITED

20 – –

1 2

Oct. 2 American Tools 7 Harris Manufacturing, Inc.

3

11 Keasler Supply

4

31 Total

PAGE PURCH. POST. NO. REF.

10

PURCHASES DR. ACCTS. PAY. CR.

116

1 2 3 0 00

1

117

4 8 0 00

2

118

7 8 0 00

3

2 4 9 0 00

4

5

5

6

6

7

7

8

8

9

9

10

10

11

11

12

12

13

13

14

14

15

15

16

16

17

17

18

18

19

19

20

20

21

21

22

22

23

23

24

24

25

25

26

26

27

27

28

28

29

29

30

30

31

31

32

32

33

33

Chapter 9

Journalizing Purchases and Cash Payments • 193

BTE_Ch09-193-220.qxd

9-1

10/29/07

7:02 PM

SECOND REVISED

Page 194

ON YOUR OWN, p. 241

Journalizing purchases using a purchases journal PURCHASES JOURNAL DATE

ACCOUNT CREDITED

20 – –

1 2

PAGE PURCH. POST. NO. REF.

11

PURCHASES DR. ACCTS. PAY. CR.

Nov. 4 Ulman Supply, Inc.

149

6 7 0 00

1

9 Else Silver Co.

150

2 3 4 5 00

2

151

1 1 5 0 00

3

4 1 6 5 00

4

3

18 Pratt Paints

4

30 Total

5

5

6

6

7

7

8

8

9

9

10

10

11

11

12

12

13

13

14

14

15

15

16

16

17

17

18

18

19

19

20

20

21

21

22

22

23

23

24

24

25

25

26

26

27

27

28

28

29

29

30

30

31

31

32

32

33

33

194 • Working Papers TE

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

DATE

9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

5

4

9

4 3 8 0 00

3 3 5 1 60

8

4 3 8 0 00

6 8 40

3

8

325

19 Quill Forest Products

5

3 4 2 0 00

3 2 0 00

2

1

7

324

17 West Supply

4

3 2 0 00

5 2 00

8 5 00

7

323

11 Purchases

3

5 2 00

CREDIT

5 CASH CREDIT

PURCHASES DISCOUNT CREDIT

ACCOUNTS PAYABLE DEBIT

10

7:02 PM

6

322

7 Supplies—Office

2

8 5 00

DEBIT

GENERAL

PAGE 4

3

10/29/07

6

321

Oct. 1 Utilities Expense

ACCOUNT TITLE

1

20 – –

POST. REF.

2

9-2

CK. NO.

1

CASH PAYMENTS JOURNAL

Journalizing cash payments using a cash payments journal

BTE_Ch09-193-220.qxd Page 195

SECOND REVISED

Name Date Class

WORK TOGETHER, p. 247

Chapter 9 Journalizing Purchases and Cash Payments • 195

DATE

196 • Working Papers TE 14 15 16 17 18 19 20 21 22 23 24

15

16

17

18

19

20

21

22

23

24

12

12

14

11

11

13

10

10

13

9

5

2 5 7 3 00

9

4

4 1 4 5 40

8

2 5 7 3 00

8 4 60

3

2 0 4 0 00

8

436

14 SPL Renovations

5

4 2 3 0 00

2

1 4 2 00

7

435

12 Racing Images

4

2 0 4 0 00

1

2 4 8 00

CASH CREDIT

5

11

7

434

9 Purchases

3

1 4 2 00

CREDIT

PURCHASES DISCOUNT CREDIT

ACCOUNTS PAYABLE DEBIT

PAGE

7:02 PM

6

433

6 Supplies—Office

2

2 4 8 00

DEBIT

GENERAL

4

3

10/29/07

6

432

Nov. 2 Utilities Expense

ACCOUNT TITLE

1

20 – –

POST. REF.

2

9-2

CK. NO.

1

CASH PAYMENTS JOURNAL

Journalizing cash payments using a cash payments journal

BTE_Ch09-193-220.qxd Page 196

SECOND REVISED

ON YOUR OWN, p. 247

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 197

Name

Date

9-3

Class

WORK TOGETHER, p. 253

Performing other cash payments journal operations CASH PAYMENTS JOURNAL

PAGE

DATE

CK. NO.

ACCOUNT TITLE

3

4

5

CREDIT

ACCOUNTS PAYABLE DEBIT

PURCHASES DISCOUNT CREDIT

CASH CREDIT

23

27 Supplies

534

24

27 Ace Manufacturing

535

25

27 Carried Forward

GENERAL

POST. REF.

DEBIT

2 3 4 30

2 3 4 30

23

1 8 5 81

24

2 5 1 34 34 2 6 0 45

25

1 8 9 60



3 79

4 5 8 56 16 4 8 3 50

18 4 8 6 85

CASH PAYMENTS JOURNAL

PAGE

1 DATE

CK. NO.

ACCOUNT TITLE

20 – –

1 2



Mar. 27 Brought Forward 31 Supplies—Office

DEBIT

3

4

5

CREDIT

ACCOUNTS PAYABLE DEBIT

PURCHASES DISCOUNT CREDIT

CASH CREDIT

4 5 8 56 16 4 8 3 50

18 4 8 6 85

2 5 1 34 34 2 6 0 45

1

1 5 9 41

2

4 5 23

536

6

2 GENERAL

POST. REF.

5

2

1

Supplies—Store

6 6 18

3

4

Miscellaneous Expense

4 9 25

4

5

Cash Short and Over

3

6

1 25

31 Totals

5

2 5 1 34 34 4 1 9 86

4 5 9 81 16 4 8 3 50

18 6 4 7 51

6

PETTY CASH REPORT Date:

March 31,20--

Custodian:

Explanation Fund Total Payments:

Less: Equals: Less: Equals:

Kevin Tomlinson Replenish Amount

Reconciliation

200.00 Supplies—Office Supplies—Store Miscellaneous

45.23 66.18 49.25 160.66

160.66 39.34 40.59 (1.25)

Total payments Recorded amount on hand Actual amount on hand Cash short (over)

(1.25) 159.41

Amount to Replenish

Column Title General Debit . . . . . . . . . . General Credit . . . . . . . . . Accounts Payable Debit . . Purchases Discount Credit Cash Credit . . . . . . . . . . . Totals . . . . . . . . . . . . . . . .

Debit Column Totals . . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

Credit Column Totals

$18,647.51 $

459.81

16,483.50

$35,131.01

251.34 34,419.86 $35,131.01

Chapter 9 Journalizing Purchases and Cash Payments • 197

BTE_Ch09-193-220.qxd

9-3

10/29/07

7:02 PM

SECOND REVISED

Page 198

ON YOUR OWN, p. 253

Performing other cash payments journal operations CASH PAYMENTS JOURNAL

PAGE

DATE

CK. NO.

ACCOUNT TITLE

3

4

5

CREDIT

ACCOUNTS PAYABLE DEBIT

PURCHASES DISCOUNT CREDIT

CASH CREDIT

23

28 Advertising Expense

625

24

28 GRF Manufacturing, Inc.

626

25

28 Carried Forward

GENERAL

POST. REF.

DEBIT

1 5 0 0 00

1 5 0 0 00

23

2 4 6 7 64

24

4 9 2 15 59 3 1 6 72

25

2 5 1 8 00



5 0 36

9 5 8 48 35 1 4 2 50

25 6 2 4 85

CASH PAYMENTS JOURNAL

PAGE

1 DATE

CK. NO.

ACCOUNT TITLE

20 – –

1 2

DEBIT



June 28 Brought Forward

30 Supplies—Office

25 6 2 4 85

627

12

2

3

4

5

CREDIT

ACCOUNTS PAYABLE DEBIT

PURCHASES DISCOUNT CREDIT

CASH CREDIT

GENERAL

POST. REF.

11

2

1

9 5 8 48 35 1 4 2 50

4 9 2 15 59 3 1 6 72

1

2 2 3 52

2

5 6 21

3

Supplies—Store

4 8 27

3

4

Miscellaneous Expense

3 6 17

4

5

Repair Expense

8 2 25

5

6

Cash Short and Over

0 62

6

7

25 8 4 8 37

30 Totals

9 5 8 48 35 1 4 2 50

4 9 2 15 59 5 4 0 24

7

PETTY CASH REPORT Date:

June 30,20--

Custodian:

Explanation Fund Total Payments:

Less: Equals: Less: Equals:

Jerri Harris Replenish Amount

Reconciliation

250.00 Supplies—Office Supplies—Store Miscellaneous Repairs

56.21 48.27 36.17 82.25 222.90

222.90 27.10 26.48 0.62

Total payments Recorded amount on hand Actual amount on hand Cash short (over)

0.62 223.52

Amount to Replenish

Column Title General Debit . . . . . . . . . . General Credit . . . . . . . . . Accounts Payable Debit . . Purchases Discount Credit Cash Credit . . . . . . . . . . . Totals . . . . . . . . . . . . . . . .

198 • Working Papers TE

Debit Column Totals . . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

Credit Column Totals

$25,848.37 $

958.48

35,142.50

$60,990.87

492.15 59,540.24 $60,990.87

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

12 13 14 15 16 17 18 19 20 21 22 23 24

13 14 15 16 17 18 19 20 21 22 23 24

9

8

7

6

12

1 2 3 9 00

2 4 0 00

5

4

11

1 2 3 9 00

2 4 0 00

5 4 0 00

3

2

1

11

DM66

M36

5 4 0 00

1 8 0 00

CREDIT

10

Purchases Returns and Allow.

14 Accounts Payable/Fretz Industries

Accounts Payable/Office Express

11 Supplies—Office

DM65

1 8 0 00

DEBIT

10

9

8

7

6

5

Purchases Returns and Allow.

7 Accounts Payable/Hendrix Products

M35

POST. REF.

On Your Own 9-4

Work Together 9-4

7:02 PM

4

3

Accounts Payable/Designer Supplies

Oct. 5 Supplies—Store

DOC. NO.

8

10/29/07

2

1

20 – –

ACCOUNT TITLE

PAGE

9-4

DATE

GENERAL JOURNAL

Journalizing other transactions using a general journal

BTE_Ch09-193-220.qxd Page 199

SECOND REVISED

Name Date Class

WORK TOGETHER and ON YOUR OWN, p. 258

Chapter 9 Journalizing Purchases and Cash Payments • 199

BTE_Ch09-193-220.qxd

9-1

10/29/07

7:02 PM

SECOND REVISED

Page 200

APPLICATION PROBLEM, p. 260

Journalizing purchases using a purchases journal PURCHASES JOURNAL DATE

ACCOUNT CREDITED

20 – –

1

Sept. 2 Woodland Appliances

PAGE PURCH. POST. NO. REF.

9

PURCHASES DR. ACCTS. PAY. CR.

54

2 6 0 0 00

1

2

6 Quality Wholesalers

55

1 4 6 0 00

2

3

12 East Gate Appliances

56

1 8 5 0 00

3

4

18 Winston, Inc.

57

2 3 0 0 00

4

5

26 Woodland Appliances

58

3 8 0 0 00

5

6

30 Total

12 0 1 0 00

6

7

7

8

8

9

9

10

10

11

11

12

12

13

13

14

14

15

15

16

16

17

17

18

18

19

19

20

20

21

21

22

22

23

23

24

24

25

25

26

26

27

27

28

28

29

29

30

30

31

31

32

32

33

33

200 • Working Papers TE

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

248 249 250 251

21 Purchases

23 Purchases

25 Best Clothing

27 Trophy Sports

30 Carried Forward

8

9

10

11

12

. . . . . .

. . . . . .

. . . . . .

. . . . . .

12

$7,021.00

67.00 6,954.00 $7,021.00

$

Date

5,200.00

$1,821.00

Credit Column Totals

6 9 5 4 00

11

10

9

8

7

6

5

4

3

2

Page 201

Note: Line 12 of the journal and the journal proof above are completed in Application Problem 9-4.

. . . . . .

Debit Column Totals

6 7 00

2 0 5 8 00

9 2 5 00

3 0 0 00

2 5 0 00

1 2 5 00

9 2 5 00

5 0 00

9 2 5 00

7 5 00

1 2 2 5 00

14

5 2 0 0 00

4 2 00

2 5 00

1

14

1 8 2 1 00

2 1 0 0 00

9 2 5 00

9 2 5 00

1 2 5 0 00

9 6 00

13



3 0 0 00

2 5 0 00

1 2 5 00

9 2 5 00

5 0 00

7 5 00

CREDIT

Name

13

. . . . . .

247

18 Supplies—Store

7

. . . . . .

246

13 Purchases

6

. . . . . .

245

11 Supplies—Office

5

. . . . . .

244

9 Athletic Center

4

. . . . . .

243

6 Advertising Expense

3

9 6 00

DEBIT

5 CASH CREDIT

PURCHASES DISCOUNT CREDIT

ACCOUNTS PAYABLE DEBIT

22

7:02 PM

Column Title General Debit . . . . . . . . . . General Credit . . . . . . . . . Accounts Payable Debit . . Purchases Discount Credit Cash Credit . . . . . . . . . . . Totals . . . . . . . . . . . . . . . .

242

4 The Pro Shop

241

2

Nov. 1 Utilities Expense

ACCOUNT TITLE

GENERAL

PAGE 4

3

10/29/07

1

DATE

20 – –

POST. REF.

2

9-2

CK. NO.

1

CASH PAYMENTS JOURNAL

Journalizing cash payments using a cash payments journal

BTE_Ch09-193-220.qxd

SECOND REVISED

Class

APPLICATION PROBLEM, p. 260

Chapter 9 Journalizing Purchases and Cash Payments • 201

BTE_Ch09-193-220.qxd

9-3

10/29/07

7:02 PM

SECOND REVISED

Page 202

APPLICATION PROBLEM, p. 261

Preparing a petty cash report PETTY CASH REPORT Date:

January 31, 20--

Custodian:

Explanation Fund Total Payments:

Less: Equals: Less: Equals:

Reconciliation

Replenish Amount

200.00 Supplies—Office Advertising Miscellaneous

12.10 60.00 56.45 128.55 71.45 70.67 0.78

Total payments Recorded amount on hand Actual amount on hand Cash short (over)

Amount to Replenish

9-4

Kevin Tomlinson

128.55 0.78 129.33

APPLICATION PROBLEM, p. 261

Performing additional cash payments journal operations 4. PETTY CASH REPORT Date:

November 30, 20--

Custodian:

Explanation Fund Total Payments:

Less: Equals: Less: Equals:

Reconciliation

Wendy Morris Replenish Amount

250.00 Supplies—Office Supplies—Store Miscellaneous Total payments Recorded amount on hand Actual amount on hand Cash short (over)

Amount to Replenish

202 • Working Papers TE

45.31 54.62 117.49 217.42 32.58 31.05 1.53

217.42 1.53 218.95

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

Cash Short and Over

5

. . . . .

. . . . .

. . . . .

. . . . .

. . . . .

. . . . .

. . . . .

. . . . .

5,200.00

$7,239.95

Totals . . . . . . . . . . . . . . . . . . . . . . . . . .

$2,039.95 67.00 7,172.95 $7,239.95

$

Credit Column Totals

Name

. . . . .

. . . . .

Debit Column Totals

10

10

Column Title General Debit . . . . . . . . . . General Credit . . . . . . . . . Accounts Payable Debit . . Purchases Discount Credit Cash Credit . . . . . . . . . . .

9

6

5

4

9

7 1 7 2 95

2

2 1 8 95

3

1

6 9 5 4 00

8

6 7 00

6 7 00

8

5 2 0 0 00

5 2 0 0 00

CASH CREDIT

5

23

7

2 0 3 9 95

1 53

1 1 7 49

5 4 62

4 5 31

CREDIT

PURCHASES DISCOUNT CREDIT

ACCOUNTS PAYABLE DEBIT

PAGE

7

30 Totals

Miscellaneous Expense

4

252

1 8 2 1 00

DEBIT

GENERAL

4

3

7:02 PM

6

Supplies—Store

30 Supplies—Office

2



POST. REF.

2

10/29/07

3

Nov. 30 Brought Forward

1

ACCOUNT TITLE

CK. NO.

1

CASH PAYMENTS JOURNAL

9-4

20 – –

DATE

3., 5., 6., 7.

BTE_Ch09-193-220.qxd Page 203

SECOND REVISED

Date Class

APPLICATION PROBLEM (concluded)

Chapter 9 Journalizing Purchases and Cash Payments • 203

BTE_Ch09-193-220.qxd

9-5

10/29/07

7:02 PM

SECOND REVISED

Page 204

APPLICATION PROBLEM, p. 262

Journalizing other transactions using a general journal GENERAL JOURNAL DATE

ACCOUNT TITLE

20 – –

1 2 3 4 5 6 7 8 9 10

Oct. 5 Supplies—Store

PAGE DOC. NO.

M39

POST. REF.

DEBIT

DM25

6 4 0 00

M40

2 1 5 00 3 9 0 00

Purchases Returns and Allow. 25 Supplies—Store Accounts Payable/Classic Fixtures

6 7

3 9 0 00 M41

4 5

2 1 5 00 DM26

2 3

6 4 0 00

Accounts Payable/Office Express 18 Accounts Payable/T-J Designs

1

2 7 5 00

Purchases Returns and Allow. 13 Supplies—Office

CREDIT

2 7 5 00

Accounts Payable/Displays Warehouse 9 Accounts Payable/Hendrix Products

10

1 8 0 00

8 9

1 8 0 00

10

11

11

12

12

13

13

14

14

15

15

16

16

17

17

18

18

19

19

20

20

21

21

22

22

23

23

24

24

25

25

26

26

27

27

28

28

29

29

30

30

31

31

32

32

33

33

204 • Working Papers TE

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

250 251 252 253 254

18 Purchases

20 Purchases

22 Keel, Inc.

24 Supplies—Store

25 NewWave Electronics

31 Carried Forward

9

10

11

12

13

14

. . . . . .

. . . . . .

. . . . . .

. . . . . .



. . . . . .

$14,502.00

11,419.00 149.60 14,352.40 $14,502.00

$

Credit Column Totals

1 1 4 1 9 00

9 2 0 00

3 4 8 0 00

3 2 9 00

2 6 0 0 00

2 6 9 0 00

1 4 0 0 00

9 2 0 00

9 4 00

3 4 1 0 40

1 5 6 00

4 2 9 00

3 2 9 00

1 3 9 2 00

1 2 6 00

2 5 4 8 00

1 3 6 00

2 6 9 0 00

7 5 0 00

1 3 7 2 00

1 4 9 60 1 4 3 5 2 40

6 9 60

5 2 00

2 8 00

15

14

13

12

11

10

9

8

7

6

5

4

3

2

1

Date

$ 3,083.00

Debit Column Totals

3 0 8 3 00

9 4 00

1 5 6 00

4 2 9 00

1 3 9 2 00

1 2 6 00

1 3 6 00

CREDIT

5 CASH CREDIT

PURCHASES DISCOUNT CREDIT

ACCOUNTS PAYABLE DEBIT

Page 205

Column Title General Debit . . . . . . . . . . General Credit . . . . . . . . . Accounts Payable Debit . . Purchases Discount Credit Cash Credit . . . . . . . . . . . Totals . . . . . . . . . . . . . . . .

. . . . . .

249

16 Farris Cable

8

. . . . . .

248

14 Purchases

7

. . . . . .

247

13 Supplies—Office

6

. . . . . .

246

11 Woodland Computers

5

. . . . . .

245

10 Utilities Expense

4

2.

244

9 American Semiconductor

3

7 5 0 00

DEBIT

GENERAL

13

Name

15

243

242

8 Advertising Expense

July 4 Pacific Industries

ACCOUNT TITLE

POST. REF.

PAGE 4

3

7:02 PM

2

1

20 – –

CK. NO.

2

9-6

1

CASH PAYMENTS JOURNAL

10/29/07

DATE

1., 2.

Journalizing purchases, cash payments, and other transactions

BTE_Ch09-193-220.qxd

SECOND REVISED

Class

MASTERY PROBLEM, pp. 262, 263

Chapter 9 Journalizing Purchases and Cash Payments • 205

BTE_Ch09-193-220.qxd

9-6

10/29/07

7:02 PM

SECOND REVISED

Page 206

MASTERY PROBLEM (continued)

1., 5. PURCHASES JOURNAL DATE

PAGE PURCH. POST. NO. REF.

ACCOUNT CREDITED

20 – –

7

PURCHASES DR. ACCTS. PAY. CR.

1

July 2 Woodland Computers

354

2 6 0 0 00

1

2

6 NewWave Electronics

355

2 5 6 0 00

2

3

12 Helms Supply

356

5 5 0 00

3

4

15 Keel, Inc.

357

3 4 8 0 00

4

5

27 Woodland Computers

358

3 2 0 0 00

5

6

31 Total

1 2 3 9 0 00

6

7

7

8

8

9

9

10

10

11

11

12

12

13

13

14

14

1. GENERAL JOURNAL DATE

ACCOUNT TITLE

20 – –

1 2

July 8 Supplies—Store 12 Accounts Payable/NewWave Electronics

4

Purchases Returns and Allow.

6

DOC. NO.

M39

POST. REF.

DEBIT

15 Supplies—Office 30 Accounts Payable/Woodland Computers

8

Purchases Returns and Allow.

CREDIT 1

1 2 5 00 DM25

1 6 4 0 00

M40

1 0 6 00

4 5

1 0 6 00 DM26

2 3

1 6 4 0 00

Accounts Payable/Office Express

7

11

1 2 5 00

Accounts Payable/Willcut & Bishop

3

5

PAGE

1 2 0 00

6 7

1 2 0 00

8

9

9

10

10

11

11

12

12

13

13

14

14

206 • Working Papers TE

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

8

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

$15,234.11

11,969.00

$ 3,265.11

Debit Column Totals

5 5 0 00

11 4 1 9 00

0.36 149.60 15,084.15 $15,234.11

$

Credit Column Totals

0 36 11 9 6 9 00

0 36

CREDIT

1 4 9 60 15 0 8 4 15

1 8 1 75

5 5 0 00

1 4 9 60 14 3 5 2 40

5 CASH CREDIT

PURCHASES DISCOUNT CREDIT

ACCOUNTS PAYABLE DEBIT

14

8

7

6

5

4

3

2

1

Name

Column Title General Debit . . . . . . . . . . General Credit . . . . . . . . . Accounts Payable Debit . . Purchases Discount Credit Cash Credit . . . . . . . . . . . Totals . . . . . . . . . . . . . . . .

6.

3 2 6 5 11

Cash Short and Over

6

31 Totals

7 4 34

Miscellaneous Expense

5

7

8 4 32

2 3 45

3 0 8 3 00

Supplies—Store

256

31 Supplies—Office

3



DEBIT

GENERAL

PAGE 4

3

7:02 PM

4

255

31 Helms Supply

2

July 31 Brought Forward

ACCOUNT TITLE

POST. REF.

2

10/29/07

1

20 – –

CK. NO.

1

CASH PAYMENTS JOURNAL

9-6

DATE

3., 4., 6., 7.

BTE_Ch09-193-220.qxd Page 207

SECOND REVISED

Date Class

MASTERY PROBLEM (concluded)

Chapter 9 Journalizing Purchases and Cash Payments • 207

BTE_Ch09-193-220.qxd

9-7

10/29/07

7:02 PM

SECOND REVISED

Page 208

CHALLENGE PROBLEM, p. 263

Journalizing purchases, cash payments, and other transactions 1. PURCHASES JOURNAL DATE

ACCOUNT CREDITED

20 – –

1 2

Nov. 3 Central Fitness 9 Trackmaster

PAGE PURCH. POST. NO. REF.

12

PURCHASES DR. ACCTS. PAY. CR.

84

8 6 0 00

1

85

2 9 0 0 00

2

3

3

4

4

5

5

6

6

7

7

8

8

9

9

10

10

11

11

12

12

13

13

14

14

15

15

16

16

17

17

18

18

19

19

20

20

21

21

22

22

23

23

24

24

25

25

208 • Working Papers TE

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

DATE

2 0 7 00

1 2 0 00

2 8 4 2 00

2 9 0 00

5 8 8 00

13

12

11

10

9

8

7

6

5

4

3

15

5 8 00

1 2 00

5 2 00

1 0 2 0 00

2

1

15

1 2 0 00

2 9 0 0 00

6 0 0 00

1 0 2 0 00

1 5 0 00

1 3 0 0 00

14

1 00

Cash Short and Over

13

CREDIT

5 CASH CREDIT

PURCHASES DISCOUNT CREDIT

ACCOUNTS PAYABLE DEBIT

26

Name

14

6 6 00

4 8 00

Miscellaneous Expense

371

30 Supplies—Office

9

12

370

29 Meda Store Supplies

8

6 8 00

369

16 Trackmaster

7

2 9 0 00

Advertising Expense

368

12 Prepaid Insurance

6

11

367

11 Central Fitness

5

5 2 00

2 4 00

366

10 Supplies—Office

4

Supplies—Store

365

6 Pacer Equipment

3

1 5 0 00

1 3 0 0 00

DEBIT

GENERAL

PAGE 4

3

7:02 PM

10

364

363

4 Purchases

ACCOUNT TITLE

2

Nov. 1 Rent Expense

20 – –

POST. REF.

2

9-7

CK. NO.

1

CASH PAYMENTS JOURNAL

10/29/07

1

1.

BTE_Ch09-193-220.qxd Page 209

SECOND REVISED

Date Class

CHALLENGE PROBLEM (continued)

Chapter 9 Journalizing Purchases and Cash Payments • 209

BTE_Ch09-193-220.qxd

9-7

10/29/07

7:02 PM

SECOND REVISED

Page 210

CHALLENGE PROBLEM (continued)

1. GENERAL JOURNAL DATE

ACCOUNT TITLE

20 – –

1 2

Nov. 2 Supplies—Store

PAGE DOC. NO.

M43

POST. REF.

DEBIT

8 Accounts Payable/Central Fitness

4

Purchases Returns and Allow.

CREDIT

1 2 0 00

Accounts Payable/Meda Store Supplies

3

11

1

1 2 0 00 DM54

2 6 0 00

2 3

2 6 0 00

4

5

5

6

6

7

7

8

8

9

9

10

10

11

11

12

12

13

13

14

14

15

15

16

16

17

17

18

18

19

19

20

20

21

21

22

22

23

23

24

24

25

25

26

26

27

27

28

28

29

29

30

30

31

31

210 • Working Papers TE

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 211

Name

9-7

Date

Class

CHALLENGE PROBLEM (concluded)

2.

a. For any other transactions that occur frequently. For example, if a business frequently purchases merchandise for cash, a Purchases Debit amount column could be added. b. There are circumstances where either entry could be correct. Insurance premiums paid in advance technically are assets until the insurance is “used up.’’ If premiums are paid in advance for a long period of time, such as one or two years, a business probably would record the premium as an asset, Prepaid Insurance. Then each period financial statements are prepared, record the portion used up as an expense; thus, the asset would be reduced gradually. However, if the premium paid is for only a month, the insurance would be “used up’’ before financial statements are prepared. Therefore, it would be simpler to record the premium payment as an expense, Insurance Expense.

Chapter 9 Journalizing Purchases and Cash Payments • 211

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 212

USING SOURCE DOCUMENTS, p. 265 Journalizing purchases, cash payments, and other transactions from source documents Suddard Industries 1423 Commercial Road Bell City, LA 70630-6213

REC'D 10/03/- - P324

INVOICE

Form

TO: Messler Sailing 142 River Street Naperville, IL 60540-3172

DATE: INV. NO. TERMS: ACCT. NO.

QUANTITY

25 20

CAT. NO.

DESCRIPTION

UNIT PRICE

4323 jib sheet 4233 jib halyard

$ $

9/30/- 6234 30 days 2450 TOTAL

45.00 $ 55.00 $

1,125.00 1,100.00

$ 2,225.00

TOTAL

$ 1,520.00 October 4 Seaside Manufacturing

NO. 458 Date: To: For:

Form

2

20 - -

On account 12,485 25

BAL. BRO‘T. FOR‘D. . . AMT. DEPOSITED . . . .

Date

SUBTOTAL . . . . . . . . . . . . . . . . . . . OTHER:

12,485 25

SUBTOTAL . . . . . . . . . . . . . . . . . . .

12,485 25 1,520 00 10,965 25

AMT. THIS CHECK . . . . . . . . . . . . . BAL. CAR‘D. FOR‘D. . . . . . . . . . . .

212 • Working Papers TE

1

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 213

Name

Date

Class

USING SOURCE DOCUMENTS (continued)

Messler Sailing

MEMORANDUM

Form

3

NO.

39

DATE

October 4, 20--

Attached invoice from Sullivan Supply Co. is for store supplies, bought on account, $105.00

DEBIT MEMORANDUM NO. 25

Form

4

DATE October 8, 20--

TO

Messler Sailing

Seaside Manufacturing 1430 Industrial Road Ocean City, WA 98569-2198

142 River Street Naperville, IL 60540-3172

ACCOUNT NO. 2040 QUANTITY

11

CAT. NO.

DESCRIPTION

UNIT PRICE

JS-342 Life preservers damaged in transit

NO. 459

$

To:

October 10 Willcutt & Bishop

For:

Office Supplies

625.00

Date:

$

25.00 $

Form

TOTAL

275.00

5

20 - -

10,965 25 10 09 20 - 1,264 00 SUBTOTAL . . . . . . . . . . . . . . . . . . . 12,229 25

BAL. BRO‘T. FOR‘D. . . AMT. DEPOSITED . . . .

Date

OTHER:

SUBTOTAL . . . . . . . . . . . . . . . . . . . AMT. THIS CHECK . . . . . . . . . . . . . BAL. CAR‘D. FOR‘D. . . . . . . . . . . .

12,229 25 625 00 11,604 25

Chapter 9 Journalizing Purchases and Cash Payments • 213

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 214

USING SOURCE DOCUMENTS (continued)

REC'D 10/11/-- P325

INVOICE

Aquatic Manufacturing 42 Industrial Road Stratford, CA 93266-4762

Form

DATE: INV. NO.

TO: Messler Sailing 142 River Street Naperville, IL 60540-3172 QUANTITY

5 10 20

CAT. NO.

DESCRIPTION

TERMS: ACCT. NO. UNIT PRICE

532 Fiberglass repair kit 6346 U-bolts, 1” 6347 U-bolts, 2”

$ $ $

Messler Sailing

MEMORANDUM

10/8/-15484 2/10, n/30 1420 TOTAL

60.00 $ 16.00 $ 23.00 $ $

TOTAL

6

Form

300.00 160.00 460.00 920.00

7

NO.

40

DATE

October 12, 20--

Attached invoice from Office Zone is for office supplies, bought on account, $95.00

NO. 460

$

425.00

October 15 Northern Electric

Date: To: For:

8

20 - -

Utilities 11,604 25

BAL. BRO‘T. FOR‘D. . . AMT. DEPOSITED . . . .

Date

SUBTOTAL . . . . . . . . . . . . . . . . . . . OTHER:

11,604 25

SUBTOTAL . . . . . . . . . . . . . . . . . . .

11,604 25 425 00 11,179 25

AMT. THIS CHECK . . . . . . . . . . . . . BAL. CAR‘D. FOR‘D. . . . . . . . . . . .

214 • Working Papers TE

Form

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 215

Name

Date

Class

USING SOURCE DOCUMENTS (continued)

$ 901.60 October 19 Aquatic Manufacturing

NO. 461 To: For:

9

Form

Date:

20 - -

On account: $920.00 less 2 % cash discount

11,179 25 10 18 20 - 546 50 SUBTOTAL . . . . . . . . . . . . . . . . . . . 11,725 75

BAL. BRO‘T. FOR‘D. . .

AMT. DEPOSITED . . . .

Date

OTHER:

SUBTOTAL . . . . . . . . . . . . . . . . . . . AMT. THIS CHECK . . . . . . . . . . . . . BAL. CAR‘D. FOR‘D. . . . . . . . . . . .

NORTHERN SAIL COMPANY 253 Beach Blvd. Boston, MA 02169-5029

11,725 75 901 60 10,824 15

REC'D 10/20/-- P326

INVOICE

Form

DATE:

TO: Messler Sailing 142 River Street Naperville, IL 60540-3172

INV. NO. TERMS: ACCT. NO.

QUANTITY

2 3

CAT. NO.

DESCRIPTION

B-23 Viking-16 mainsail B-44 Sunset-13 mainsail TOTAL

UNIT PRICE

$ $

10

10/18/-895 30 days 1820 TOTAL

1,599.00 $ 3,198.00 459.00 $ 1,377.00 $ 4,575.00

Chapter 9 Journalizing Purchases and Cash Payments • 215

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 216

USING SOURCE DOCUMENTS (continued)

NO. 462 To:

October 20 WRRX Radio

For:

Advertising

$

2,560.00

Form

Date:

10,824 15

BAL. BRO‘T. FOR‘D. . . AMT. DEPOSITED . . . .

11

20 - -

Date

SUBTOTAL . . . . . . . . . . . . . . . . . . . OTHER:

10,824 15

SUBTOTAL . . . . . . . . . . . . . . . . . . .

10,824 15 2,560 00 8,264 15

AMT. THIS CHECK . . . . . . . . . . . . . BAL. CAR‘D. FOR‘D. . . . . . . . . . . .

DEBIT MEMORANDUM NO. 26

Form

12

DATE October 22, 20--

TO

Messler Sailing

Aquatic Manufacturing 42 Industrial Road Stratford, CA 93266-4762

142 River Street Naperville, IL 60540-3172

ACCOUNT NO. 1420 QUANTITY

CAT. NO.

2

532

216 • Working Papers TE

DESCRIPTION

UNIT PRICE

Fiberglass repair kit $ missing components

60.00 $

TOTAL

120.00

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 217

Name

Date

Class

USING SOURCE DOCUMENTS (continued)

NO. 463

$

224.00

October 22 Michigan Sail Co.

Date: To: For:

Form

13

NO. 464 To:

Purchases

For:

8,264 15 10 22 20-- 1,421 08 SUBTOTAL . . . . . . . . . . . . . . . . . . . 9,685 23

BAL. BRO‘T. FOR‘D. . . AMT. DEPOSITED . . . .

BAL. CAR‘D. FOR‘D. . . . . . . . . . . .

9,685 23 224 00 9,461 23

Form

14

20 - -

On account

AMT. DEPOSITED . . . .

OTHER:

AMT. THIS CHECK . . . . . . . . . . . . .

2,225.00

9,461 23

BAL. BRO‘T. FOR‘D. . .

Date

SUBTOTAL . . . . . . . . . . . . . . . . . . .

$

October 29 Suddard Industries

Date:

20 - -

Date

SUBTOTAL . . . . . . . . . . . . . . . . . . . OTHER:

9,461 23

SUBTOTAL . . . . . . . . . . . . . . . . . . .

9,461 23 2,225 00 7,236 23

AMT. THIS CHECK . . . . . . . . . . . . . BAL. CAR‘D. FOR‘D. . . . . . . . . . . .

Form 15 $ 112.94 October 31 20 - To: Mary Donovan, Petty Cash For: Petty cash: office supplies, $23.45; store supplies, $65.25; misc. expense, $25.11; cash over, $0.87 BAL. BRO‘T. FOR‘D. . . 7,236 23 648 22 AMT. DEPOSITED . . . . 10 30 20 SUBTOTAL . . . . . . . . . . . . . . . . . . . 7,884 45 NO. 465 Date:

Date

OTHER:

SUBTOTAL . . . . . . . . . . . . . . . . . . . AMT. THIS CHECK . . . . . . . . . . . . . BAL. CAR‘D. FOR‘D. . . . . . . . . . . .

7,884 45 112 94 7,771 51

Chapter 9 Journalizing Purchases and Cash Payments • 217

218 • Working Papers TE . . . . . .

. . . . . .

13

12

31 Totals

Column Title General Debit . . . . . . . . . . General Credit . . . . . . . . . Accounts Payable Debit . . Purchases Discount Credit Cash Credit . . . . . . . . . . . Totals . . . . . . . . . . . . . . . . . . . . . .

. . . . . .

. . . . . .

465

. . . . . .

. . . . . .

. . . . . .

. . . . . .

. . . . . .

2 3 45

$ 8612.81

4665.00

$ 3947.81

4 6 6 5 00

2 2 2 5 00

9 2 0 00

1 5 2 0 00

0.87 18.40 8593.54 $ 8612.81

$

1 8 40

1 8 40

8 5 9 3 54

1 1 2 94

2 2 2 5 00

2 2 4 00

2 5 6 0 00

9 0 1 60

4 2 5 00

6 2 5 00

1 5 2 0 00

5 CASH CREDIT

PURCHASES DISCOUNT CREDIT

15

ACCOUNTS PAYABLE DEBIT

Credit Column Totals

0 87

0 87

CREDIT

Debit Column Totals

3 9 4 7 81

Cash Short and Over

(15)

31 Supplies—Office

8

464

2 2 4 00

11

(14)

29 Suddard Industries

7

463

2 5 6 0 00

2 5 11

(13)

22 Purchases

6

462

Miscellaneous Expense

(11)

20 Advertising Expense

5

461

4 2 5 00

10

(9)

19 Aquatic Manufacturing

4

460

6 2 5 00

6 5 25

(8)

15 Utilities Expense

3

459

DEBIT

GENERAL

PAGE 4

3

13

12

11

10

9

8

7

6

5

4

3

2

1

7:02 PM

Supplies—Store

(5)

10 Supplies—Office

2

458

POST. REF.

2

10/29/07

9

(2)

ACCOUNT TITLE

Oct. 4 Seaside Manufacturing

1

DATE

20 – –

CK. NO.

1

CASH PAYMENTS JOURNAL

BTE_Ch09-193-220.qxd Page 218

SECOND REVISED

USING SOURCE DOCUMENTS (continued)

COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

SECOND REVISED

Page 219

Name

Date

Class

USING SOURCE DOCUMENTS (concluded) PURCHASES JOURNAL DATE

PAGE PURCH. POST. NO. REF.

ACCOUNT CREDITED

20 – –

1

Oct. 3 Suddard Industries

10

PURCHASES DR. ACCTS. PAY. CR.

(1)

324

2 2 2 5 00

1

2

11 Aquatic Manufacturing

(6)

325

9 2 0 00

2

3

20 Northern Sail Company

(10)

326

4 5 7 5 00

3

4

31 Total

7 7 2 0 00

4

5

5

6

6

7

7

8

8

9

9

GENERAL JOURNAL DATE

DOC. NO.

ACCOUNT TITLE

20 – –

1 2 3 4 5 6 7 8

PAGE

Oct. 4 Supplies—Store

(3)

M39

POST. REF.

DEBIT

(4)

DM25

2 7 5 00

M40

9 5 00

22 Accounts Payable/Aquatic Manufacturing (12)

DM26

4 5

9 5 00

Accounts Payable/Office Zone

2 3

2 7 5 00 (7)

Purchases Returns and Allow.

1

1 0 5 00

Purchases Returns and Allow. 12 Supplies—Office

CREDIT

1 0 5 00

Accounts Payable/Sullivan Supply Co. 8 Accounts Payable/Seaside Manufacturing

14

1 2 0 00

6 7

1 2 0 00

8

9

9

10

10

11

11

12

12

Chapter 9 Journalizing Purchases and Cash Payments • 219

BTE_Ch09-193-220.qxd

10/29/07

7:02 PM

Page 220

SECOND REVISED

Recommend Documents
greater 70-week prophecy concerning God's plan for Israel until the end of the age. ... 2 Chronicles 36:20-21 And those who escaped from the sword he carried away to ... Luke 21:24 And they will fall by the edge of the sword, and be led away ...

Clauses and Phrases; Complex Sentences. Writing Skill: ... Challenge Words: implication, enterprise, comprehend, bolster, mongrel. Vocabulary Words and ...

What happened during the French Revolution? Who resigned from ... A group of people that tries to promote its ideas and influence government called? 16.

... and activity of the Holy Spirit in your life? • Discuss the statement; “Prayerful expectant waiting creates the platform upon which the Holy Spirit descends.” How can you and your group better create environments of expectant prayerful wait

Jan 25, 2015 - The 4th Sermon in a series on the Book of Hebrews entitled ... 5 For it was not to angels that God subjected the worldto come, ... Share one. 3.

o Managers must understand this environment if the business is to compete ... o Either b/c productivity increases (good) OR consumers ...... Reflects degree.

Read and Download PDF Ebook study guide 9 identifying accounting terms at Online Ebook Library. ... accounting terms PDF file for free from our online library.

Oct 20, 2014 - Because of popular opinion, this Vietnam War era president did not run for reelection. a. Lyndon Johnson c. John F. Kennedy b. Richard Nixon.

Robust Vocabulary Words and Definitions. Brisk-quickly and lively such as in a brisk walk. Strutted-to walk like you own the world. Gobbled-to eat quickly and gulp food. Paced-to have walked back and forth in a small area. Request-to ask for somethin

MARKET CAUSED PRICES TO DROP, SOME FARMERS TRIED TO. SURVIVE BY ... 25) THE GOVERNMENT OFFERED EACH RAILROAD COMPANY. BUILDING THE ... 41) OPERATING COST ARE WAGES, SHIPPING CHARGES, AND.