See attachment. There are 20 questions in accounting requiring some calculations.

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See attachment. There are 20 questions in accounting requiring some calculations.

See attachment. There are 20 questions in accounting requiring some calculations.
2. On September 1, the balance of the Accounts Receivable control account in the general ledger of Ivanhoe Company was $10,930. The customers’ subsidiary ledger contained account balances as follows: Hurley $1,270, Andino $2,590, Fowler $2,110, and Sogard $4,960. At the end of September, the various journals contained the following information. Sales journal: Sales to Sogard $750, to Hurley $1,120, to Giambi $1,310, and to Fowler $1,150. Cash receipts journal: Cash received from Fowler $1,250, from Sogard $2,270, from Giambi $440, from Andino $1,620, and from Hurley $1,080. General journal: An allowance is granted to Sogard $150. (a) Set up control and subsidiary accounts and enter the beginning balances. Accounts Receivable Date Explanation Ref. Debit Credit Balance Sept. 1 Balance √ enter a debit amount enter a credit amount enter a balance amount Accounts Receivable Subsidiary Ledger Fowler Date Explanation Ref. Debit Credit Balance Sept. 1 Balance √ enter a debit amount enter a credit amount enter a balance amount Sogard Date Explanation Ref. Debit Credit Balance Sept. 1 Balance √ enter a debit amount enter a credit amount enter a balance amount Giambi Date Explanation Ref. Debit Credit Balance Sept. 1 Balance √ enter a debit amount enter a debit amount enter a balance amount Andino Date Explanation Ref. Debit Credit Balance Sept. 1 Balance √ enter a debit amount enter a credit amount enter a balance amount Hurley Date Explanation Ref. Debit Credit Balance Sept. 1 Balance √ enter a debit amount enter a credit amount enter a balance amount 3. Blossom Company has a balance in its Accounts Payable control account of $8,000 on January 1, 2022. The subsidiary ledger contains three accounts: Hale Company, balance $2,500; Janish Company, balance $1,500; and Valdez Company. During January, the following payable-related transactions occurred. Purchases Payments Returns Hale Company $6,250 $5,500 $ 0 Janish Company 4,750 1,500 2,500 Valdez Company 5,875 6,000 (a) What is the January 1 balance in the Valdez Company subsidiary account? Balance in the Valdez Company subsidiary account $enter the balance in the Valdez Company subsidiary account in dollars  4. Oriole Company uses special journals and a general journal. The following transactions occurred during September 2022. Sept. 2 Sold merchandise on account to H. Drew, invoice no. 101, $710, terms n/30. The cost of the merchandise sold was $405. 10 Purchased merchandise on account from A. Pagan $555, terms 2/10, n/30. 12 Purchased office equipment on account from R. Cairo $6,100. 21 Sold merchandise on account to G. Holliday, invoice no. 102 for $810, terms 2/10, n/30. The cost of the merchandise sold was $470. 25 Purchased merchandise on account from D. Downs $825, terms n/30. 27 Sold merchandise to S. Miller for $745 cash. The cost of the merchandise sold was $450. (a) Prepare a sales journal and record the transactions for September that should be journalized. (Record entries in the order presented in the problem statement.) ORIOLE COMPANYSales Journal S1 Date AccountDebited InvoiceNo. Ref. Accounts Receivable Dr.Sales Revenue Cr. Cost of Goods Sold Dr.Inventory Cr. 2022 choose a transaction date                                   select an account debited                                   select an invoice                                   enter a dollar amount enter a total amount choose a transaction date                                   select an account debited                                   select an invoice                                   enter a dollar amount enter a total amount Enter a total amount for this column Enter a total amount for this column 5. R. Pharoah Co. uses special journals and a general journal. The following transactions occurred during May 2022. May 1 R. Pharoah invested $52,500 cash in the business. Sold merchandise to Lawrie Co. for $6,420 cash. The cost of the merchandise sold was $3,970. Purchased merchandise for $6,790 from J. Moskos using check no. 101. 14 Paid salary to H. Rivera $805 by issuing check no. 102. 16 Sold merchandise on account to K. Stanton for $845, terms n/30. The cost of the merchandise sold was $605. 22 A check of $9,470 is received from M. Mangini in full for invoice 101; no discount given. (a) Prepare a multiple-column cash receipts journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement.) R. PHAROAH CO.Cash Receipts Journal CR1 Date AccountCredited Ref. CashDr. SalesDiscountsDr. AccountsReceivableCr. SalesRevenueCr. OtherAccountsCr. Cost of Goods SoldDr.Inventory Cr. 2022 choose a transaction date                                   select an account credited                                   enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account credited                                   enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account credited                                   enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a total amount enter a total amount enter a total amount enter a total amount enter a total amount enter a total amount 6. Crane Company’s chart of accounts includes the following selected accounts. 101 Cash 401 Sales Revenue 112 Accounts Receivable 414 Sales Discounts 120 Inventory 505 Cost of Goods Sold 301 Owner’s Capital On April 1, the accounts receivable ledger of Crane Company showed the following balances: Morrow $1,590, Rose $1,220, Jennings Co. $2,940, and Dent $2,100. The April transactions involving the receipt of cash were as follows. Apr. 1 The owner, T. Crane, invested additional cash in the business $7,230. Received check for payment of account from Dent less 2% cash discount. Received payment in full for $940 from Jennings Co for invoice no. 307. Made cash sales of merchandise totaling $7,230. The cost of the merchandise sold was $4,338. 10 Received payment in full for $565 from Morrow for invoice no. 309. 11 Received cash refund from a supplier for damaged merchandise $705. 23 Received payment in full for $1,200 from Jennings Co. for invoice no. 310. 29 Received check for payment of account from Rose (no cash discount allowed). (a) Journalize the transactions above in a six-column cash receipts journal and cross-foot the journal. (Record entries in the order displayed in the problem statement. Round answers to 0 decimal places, e.g. 5,275.) Cash Receipts Journal CR1 Date Account Credited Ref. Cash Dr. Sales Discounts Dr. Accounts Receivable Cr. Sales Revenue Cr. Other Accounts Cr. Cost of Goods Sold Dr.Inventory Cr. choose a transaction date                                   select an account credited                                   301 enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   select an account credited                                   √ enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   select an account credited                                   √ enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   select an account credited                                   enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   select an account credited                                   √ enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   select an account credited                                   120 enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   select an account credited                                   √ enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   select an account credited                                   √ enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount enter a total amount enter a total amount enter a total amount enter a total amount enter a total amount enter a total amount (101) (414) (112) (401) (X) (505)(120) 7. Crane Company’s chart of accounts includes the following selected accounts. 101 Cash 201 Accounts Payable 120 Inventory 306 Owner’s Drawings 130 Prepaid Insurance 505 Cost of Goods Sold 157 Equipment On October 1, the accounts payable ledger of Crane Company showed the following balances: Uggla Company $2,550, Orr Co. $2,490, Rosenthal Co. $1,890, and Clevenger Company $3,660. The October transactions involving the payment of cash were as follows. Oct. 1 Purchased merchandise, check no. 63, $250. Purchased equipment, check no. 64, $770. Paid Uggla Company balance due of $2,550, less 2% discount, check no. 65, $2,499. 10 Purchased merchandise, check no. 66, $2,230. 15 Paid Rosenthal Co. balance due of $1,890, check no. 67. 16 C. Crane, the owner, pays his personal insurance premium of $460, check no. 68. 19 Paid Orr Co. in full for invoice no. 610, $2,000 less 2% cash discount, check no. 69, $1,960. 29 Paid Clevenger Company in full for invoice no. 264, $2,440, check no. 70. (a) Journalize the transactions above in a four-column cash payments journal with columns for Other Accounts Dr., Accounts Payable Dr., Inventory Cr., and Cash Cr. Foot and cross-foot the journal. (Record entries in the order displayed in the problem statement. Round answers to 0 decimal places, e.g. 5,275.) Cash Payments Journal CP1 Date Ck. No. Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Inventory Cr. Cash Cr. choose a transaction date                                   63 select an account debited                                   120 enter a dollar amount enter a total amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   64 select an account debited                                   157 enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   65 select an account debited                                   √ enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   66 select an account debited                                   120 enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   67 select an account debited                                   √ enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   68 select an account debited                                   306 enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   69 select an account debited                                   √ enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount choose a transaction date                                   70 select an account debited                                   √ enter a dollar amount Enter a dollar amount Enter a dollar amount Enter a dollar amount enter a total amount enter a total amount enter a total amount enter a total amount (X) (201) (120) (101) 8. The chart of accounts of Pharoah Company includes the following selected accounts. 112 Accounts Receivable 401 Sales Revenue 120 Inventory 412 Sales Returns and Allowances 126 Supplies 505 Cost of Goods Sold 157 Equipment 610 Advertising Expense 201 Accounts Payable In July, the following transactions were completed. All purchases and sales were on account. The cost of all merchandise sold was 70% of the sales price. July 1 Purchased merchandise from Eby Company $8,150. Received freight bill from Shaw Shipping on Eby purchase $420. Made sales to Fort Company $1,080 and to Hefner Bros. $2,480. Purchased merchandise from Getz Company $3,240. Received credit on merchandise returned to Getz Company $300. 13 Purchased store supplies from Dayne Supply $740. 15 Purchased merchandise from Eby Company $3,520 and from Bosco Company $4,220. 16 Made sales to Aybar Company $3,280 and to Hefner Bros. $1,960. 18 Received bill for advertising from Welton Advertisements $650. 21 Sales were made to Fort Company $160 and to Duncan Company $3,200. 22 Granted allowance to Fort Company for merchandise damaged in shipment $30. 24 Purchased merchandise from Getz Company $2,950. 26 Purchased equipment from Dayne Supply $960. 28 Received freight bill from Shaw Shipping on Getz purchase of July 24, $470. 30 Sales were made to Aybar Company $5,110. (a) Journalize the transactions above in a multi-column purchases journal, a sales journal, and a general journal. (Record entries in the order displayed in the problem statement.) Purchases Journal P1 Date Account Credited (Debited) Ref. Accounts Payable Cr. Inventory Dr. Other Accounts Dr. choose a transaction date                                   select an account title                                   √ enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account title                                   √ enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account title                                   √ enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account title                                   126/√ enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account title                                   √ enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account title                                   √ enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account title                                   610/√ enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account title                                   √ enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account title                                   157/√ enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account title                                   √ enter a dollar amount enter a dollar amount enter a dollar amount enter a total amount enter a total amount enter a total amount (201) (120) (X) Sales Journal S1 Date Account Debited Ref. Accounts Receivable Dr.Sales Revenue Cr. Cost of Goods Sold Dr.Inventory Cr. choose a transaction date                                   select an account debited                                   √ enter a dollar amount enter a dollar amount choose a transaction date                                   select an account debited                                   √ enter a dollar amount enter a dollar amount choose a transaction date                                   select an account debited                                   √ enter a dollar amount enter a dollar amount choose a transaction date                                   select an account debited                                   √ enter a dollar amount enter a dollar amount choose a transaction date                                   select an account debited                                   √ enter a dollar amount enter a dollar amount choose a transaction date                                   select an account debited                                   √ enter a dollar amount enter a dollar amount choose a transaction date                                   select an account debited                                   √ enter a dollar amount enter a dollar amount enter a total amount enter a total amount (112)(401) (505)(120) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit choose a transaction date                                   enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date                                   enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 9. The following are some typical transactions incurred by Ricketts Company.For each transaction, indicate whether it would normally be recorded in a cash receipts journal, cash payments journal, sales journal, single-column purchases journal, or general journal. Transactions Journals 1. Payment of creditors on account. select a type of journal                             2. Return of merchandise sold for credit. select a type of journal                             3. Collection on account from customers. select a type of journal                             4. Sale of land for cash. select a type of journal                             5. Sale of merchandise on account. select a type of journal                             6. Sale of merchandise for cash. select a type of journal                             7. Received credit for merchandise purchased on credit. select a type of journal                             8. Sales discount taken on goods sold. select a type of journal                             9. Payment of employee wages. select a type of journal                             10. Income summary closed to owner’s capital. select a type of journal                             1. Depreciation on building. select a type of journal                             12. Purchase of office supplies for cash. select a type of journal                             13. Purchase of merchandise on account. select a type of journal                             10. The general ledger of Cullumber Company contained the following Accounts Payable control account (in T-account form). Also shown is the related subsidiary ledger. (a) Indicate the missing posting reference and amount in the control account, and the missing ending balance in the subsidiary ledger. GENERAL LEDGER Accounts Payable Feb. 15 General journal 1,380 Feb. 1 Balance 26,370 Feb. 28 select an account title                                   enter a debit amount Feb. 5 General journal 230 Feb. 11 General journal 500 Feb. 28 Purchases 13,750 Feb. 28 Balance 9,640 ACCOUNTS PAYABLE LEDGER Benton    Feb. 28       Bal. 4,410 Dooley    Feb. 28       Bal. 2,500 Parks    Feb. 28       Bal. enter a credit amount 11. After Sheffield Company had completed all posting for the month of December, the sum of the balances in the following accounts payable subsidiary ledger did not agree with the balance of the control account in the general ledger. Name Ryker’s Address 286 Buck Avenue Date Item Ref. Debit Credit Balance Dec. 2 P25 3,500 3,500 Name Geordie Company Address 818 Western Avenue Date Item Ref. Debit Credit Balance Dec. 1 Balance 8,700 10 CP23 8,700 — 20 P32 4,400 4,400 29 G15 910 5,310 Name La Forge Company Address 90210 Baker Boulevard Date Item Ref. Debit Credit Balance Dec. 1 Balance 11,000 18 CP28 11,000 — 29 P34 11,710 710 Name Deanna Troi Address 2720 Sommers Avenue Date Item Ref. Debit Credit Balance Dec. 8 P27 7,100 7,100 27 P33 9,100 16,200 Name NameO’Brien Supplies Address 1560 Puckett Street Date Item Ref. Debit Credit Balance Dec. 1 Balance 9,300 P26 6,700 16,000 12 G11 2,720 13,280 20 CP29 7,100 20,380 The balance in the Accounts Payable control account of $41,080 has been verified as correct. Also assume that the journal references in the Post Ref. columns of the accounts payable subsidiary ledger have been verified as correct.Determine the errors in the preceding accounts payable subsidiary accounts and prepare a corrected schedule of accounts payable. ACCOUNTS PAYABLE SUBSIDIARY LEDGER ACCOUNT BALANCES select an account title                             $enter a dollar amount  select an account title                             enter a dollar amount select an account title                             enter a dollar amount select an account title                             enter a dollar amount select an account title                             enter a dollar amount Total $enter a total amount  12. Sheridan Co. uses the perpetual method, special journals, and a general journal. The following transactions occurred during May 2020. May 1 Z. Sheridan invested $26,800 cash in the business. Sold merchandise to A. A. Bondy for $7,400 cash. The cost of the merchandise sold was $5,300. Purchased merchandise for $6,100 from Y. Vandyver using check no. 101. 14 Paid salary to D. Dilego $3,000 by issuing check no. 102. 16 Sold merchandise on account to S. Stevens for $2,640, terms n/30. The cost of the merchandise sold was $860. 22 A check of $9,000 is received from S. Sufjan in full for invoice 101; no discount given. (a) Prepare a multiple-column cash receipts journal and record the transactions for May that should be journalized. (Record entries in the order presented in the problem statement. Do not leave any answer field blank. Enter 0 for amounts.) SHERIDAN CO.Cash Receipts Journal CR1 Date AccountCredited Ref. CashDr. SalesDiscountsDr. AccountsReceivableCr. SalesRevenueCr. OtherAccountsCr. Cost of Goods SoldDr.Inventory Cr. 2020 choose a transaction date                                   select an account credited                                   enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account credited                                   enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                                   select an account credited                                   enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a total amount enter a total amount enter a total amount enter a total amount enter a total amount enter a total amount 13. Coronado Company uses the perpetual method, a single-column purchases journal, a cash payments journal, and a general journal to record transactions with its suppliers and others. Transactions Oct. 5 Purchased merchandise on account for $21,000 from Harrelson Company. Terms: 2/10, n/30; FOB shipping point. Oct. 6 Paid $8,600 to Ken’s Insurance Company for a two-year fire insurance policy. Oct. 8 Purchased store supplies on account for $2,600 from Stone Pony Supply Company. Terms:  2/10, n/30. Oct. 11 Purchased merchandise on account for $17,000 from Steve Corporation. Terms:  2/10, n/30; FOB shipping point. Oct. 13 Granted a reduction of $5,000 from Steve Corporation for merchandise purchased on October 11 and returned because of damage. Oct. 15 Paid Harrelson Company for merchandise purchased on October 5, less discount. Oct. 16 Purchased merchandise for $11,000 cash from Williams Company. Oct. 21 Paid Steve Corporation for merchandise purchased on October 11, less merchandise returned on October 13, less discount. Oct. 25 Purchased merchandise on account for $23,000 from Ozzle Company. Terms:  2/10, n/30; FOB shipping point. Oct. 31 Purchased equipment for $29,000 cash from Guillen Office Supply Company. Record the above transactions in the appropriate journals. (Record entries in the order displayed in the problem statement.) CORONADO COMPANYPurchases Journal P1 Date Account Credited Ref. Inventory Dr.Accounts Payable Cr. choose a transaction date                             select an account credited                             enter a dollar amount choose a transaction date                             select an account credited                             enter a dollar amount choose a transaction date                             select an account credited                             enter a dollar amount (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit choose a transaction date                             enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date                             enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (Do not leave any answer field blank. Enter 0 for amounts.) CORONADO COMPANYCash Payments Journal CP1 Date Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Inventory Cr. Cash Cr. choose a transaction date                             select an account debited                             enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account debited                             enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account debited                             enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account debited                             enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account debited                             enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 14. Below are some typical transactions incurred by Piper Company. For each transaction, indicate the appropriate journal where the transaction would be journalized. 1. Purchase of merchandise on account. select an appropriate journal                             2. Collection on account from customers. select an appropriate journal                             3. Payment of employee’s wages. select an appropriate journal                             4. Sales of merchandise for cash. select an appropriate journal                             5. Close Income Summary to owner’s capital. select an appropriate journal                             6. Adjusting entry for depreciation on machinery. select an appropriate journal                             7. Payment of creditors on account. select an appropriate journal                             8. Purchase of office equipment on credit. select an appropriate journal                             9. Sales discount taken on goods sold on credit. select an appropriate journal                             10. Sales of merchandise on account. select an appropriate journal                             11. Purchase of a delivery truck for cash. select an appropriate journal                             12. Return of merchandise purchased on credit. select an appropriate journal                             13. Payment of rent in advance. select an appropriate journal                             14. Adjusting entry for accrued interest expense. select an appropriate journal                             15. Purchase of office supplies for cash. select an appropriate journal                             15. Bramble Products uses both special journals and a general journal as described in this chapter. Bramble also posts customers’ accounts in the accounts receivable subsidiary ledger. The postings for the most recent month are included in the subsidiary T accounts below. Ski Bal. 560   560   530     Mulley Bal. 370   370   510     Holmes Bal. -0-   395   440     Vizquel Bal. 340   340   450       580     Determine the correct amount of the end-of-month posting from the sales journal to the Accounts Receivable control account. Correct amount $enter the correct amount in dollars  16. Shown below is a page from cash payments journal.Using the cash payments journal below, identify each of the posting references indicated by a letter, as representing: (1) a posting to a general ledger account. (2) a posting to a subsidiary ledger account. (3) that no posting is required. CASH PAYMENTS JOURNAL Page 45 Date Ck. No. Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Inventory Cr. Cash Cr. 20— Jan. 4 659 B. Lager select a number                             5,000 50 4,950 11 660 Prepaid Ins. select a number                             1,000 1,000 13 661 Inventory select a number                             656 656 14 662 Owner’s Drawings select a number                             2,400 2,400 18 663 M. Young select a number                             1,400 1,400 20 664 Inventory select a number                             450 450 29 665 Equipment select a number                             3,800     3,800 8,306 6,400 50 14,656 select a number                             select a number                             select a number                             select a number                             17. Shown below is a page from a special journal. Date Account Credited Ref. Cash Dr. Sales Discounts Dr. Accounts Receivable Cr. Sales Revenue Cr. Other Accounts Cr. Cost of Goods Sold Dr.Inventory Cr. May 27 Tony Karr √ 1,960 40 2,000 28 Notes Receivable 113 5,480 5,000 Interest Revenue 416 480 29 425 425 250 31 Jim Borke √ 500 500 8,365 40 2,500 425 5,480 250 (101) (414) (112) (401) (X) (505)(120) (a)What is the name of this journal?select a journal                             18. On September 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $270,000; the Accounts Payable control account had a credit balance of $134,000.The October transactions recorded in the special journals are presented below. Special Journals October Transactions Sales journal Total sales $208,000 Purchases journal Total purchases 100,000 Cash receipts journal Accounts receivable column total 153,000 Cash payments journal Accounts payable column total 74,000 (a) Compute the balance of the accounts receivable control accounts after the monthly postings on October 31. Accounts Receivable Balance $enter the accounts receivable balance in dollars  19. Presented below are selected accounts from the chart of accounts of Crane Company. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Crane completed the following transactions. Jan. 3 Purchased merchandise on account from Gallagher Co. $9,000. Purchased supplies for cash $80. Sold merchandise on account to Wheeler $5,260, invoice no. 371, terms 1/10, n/30. Returned $200 worth of damaged goods purchased on account from Gallagher Co. on January 3. Made cash sales for the week totaling $3,060. Purchased merchandise on account from Phegley Co. $4,400. Sold merchandise on account to Linton Corp. $6,200, invoice no. 372, terms 1/10, n/30. 11 Purchased merchandise on account from Cora Co. $3,750. 13 Paid in full Gallagher Co. on account less a 2% discount. 13 Made cash sales for the week totaling $5,700. 15 Received payment from Linton Corp. for invoice no. 372. 15 Paid semi-monthly salaries of $14,700 to employees. 17 Received payment from Wheeler for invoice no. 371. 17 Sold merchandise on account to Delaney Co. $2,830, invoice no. 373, terms 1/10, n/30. 19 Purchased equipment on account from Dozier Corp. $5,380. 20 Cash sales for the week totaled $3,330. 20 Paid in full Phegley Co. on account less a 2% discount. 23 Purchased merchandise on account from Gallagher Co. $7,480. 24 Purchased merchandise on account from Atchison Corp. $5,160. 27 Made cash sales for the week totaling $4,440. 30 Received payment from Delaney Co. for invoice no. 373. 31 Paid semi-monthly salaries of $13,710 to employees. 31 Sold merchandise on account to Wheeler $9,320, invoice no. 374, terms 1/10, n/30. Mercer Company uses the following journals. 1. Sales journal. 2. Single-column purchases journal. 3. Cash receipts journal. 4. Cash payments journal. 5. General journal. Using the selected accounts provided:Record and post the January transactions in the appropriate journal noted. Foot and cross-foot all special journals. (Record entries in the order displayed in the problem statement.) Sales Journal S1 Date Account Debited Invoice No. Ref. Accounts Receivable Dr.Sales Revenue Cr. Cost of Goods Sold Dr.Inventory Cr. Choose a transaction date                             Select an account title                             Select an invoice number                             √ Enter a dollar amount Enter a dollar amount Choose a transaction date                             Select an account title                             Select an invoice number                             √ Enter a dollar amount Enter a dollar amount Choose a transaction date                             Select an account title                             Select an invoice number                             √ Enter a dollar amount Enter a dollar amount Choose a transaction date                             Select an account title                             Select an invoice number                             √ Enter a dollar amount Enter a dollar amount Enter a total amount for this column Enter a total amount for this column (112)(401) (505)(120) Purchases Journal P1 Date Account Credited Ref. Inventory Dr.Accounts Payable Cr. Choose a transaction date                             Select an account title                             √ Enter a dollar amount Choose a transaction date                             Select an account title                             √ Enter a dollar amount Choose a transaction date                             Select an account title                             √ Enter a dollar amount Choose a transaction date                             Select an account title                             √ Enter a dollar amount Choose a transaction date                             Select an account title                             √ Enter a dollar amount Enter a total amount for this column (120)(201) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) General Journal Date Account Titles and Explanation Debit Credit choose a transaction date                             enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date                             enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount Cash Receipts Journal CR1 Date Account Credited Ref. Cash Dr. Sales Discounts Dr. Accounts Receivable Cr. Sales Revenue Cr. Other Accounts Cr. Cost of Goods Sold Dr.Inventory Cr. choose a transaction date                             select an account credited                             enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account credited                             enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account credited                             √ enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account credited                             √ enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account credited                             enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account credited                             enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account credited                             √ enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a total amount enter a total amount enter a total amount enter a total amount enter a total amount enter a total amount (101) (414) (112) (401) (X) (505)(120) Cash Payments Journal CP1 Date Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Inventory Cr. Cash Cr. choose a transaction date                             select an account debited                             126 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account debited                             √ enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account debited                             726 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account debited                             √ enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount choose a transaction date                             select an account debited                             726 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a total amount enter a total amount enter a total amount enter a total amount (X) (201) (120) (101) 20. On August 1, 2016, Stephanie Ram, a sole proprietor, started a new business, Ram Wholesale Company. The company sells refrigerators (merchandise) to various retail stores and uses the periodic inventory system. At the end of August, the company’s Post-Closing Trial Balance showed the following accounts and balances: Ram Wholesale CompanyPost-Closing Trial BalanceAugust 31, 2016 Account Titles Debit Credit Cash $152,900 Accounts Receivable 16,000 Merchandise Inventory, 9/30/15 53,300 Store Supplies 4,100 Office Supplies 3,300 Land 35,000 Delivery Truck 88,000 Accumulated Depreciation, Delivery Truck $700 Accounts Payable 20,000 Unearned Sales Revenue 1,900 Notes Payable (Due 2040) 61,000 Stephanie Ram, Capital 269,000    Totals $352,600 $352,600 Subsidiary Ledgers balances during the month of AugustCustomers with Outstanding Balances Dates Customer Names Credit Terms Balances 8/25 Jose Mendes 3/20, N/60 $9,600 8/28 Nicholas Jay 2/15, N/45 6,400    Totals $16,000 Creditors with Outstanding Balances Dates Creditors Names Credit Terms Balances 8/22 Lisa Supplies Company 1/10, N/60 $7,600 8/24 Farge Company 2/15, N/45 8,500 8/26 Mason Retailers 1/20, N/60 3,900    Totals $20,000 During the month of September, the following transactions were completed by the business: Sept. Stephanie Ram, the proprietor of the business, invested $88,000 cash and Office Supplies valued at $2,100 into the business. Issued a check to establish a Petty Cash Fund for $5,300. Paid a premium of $3,400 for a one-year insurance policy, effective September 1st. Purchased 44 refrigerators on credit for $158,400 from Mason Retailers. The credit terms of the sale were 4/20, n/45, F.O.B. shipping point. Issued a check for $2,020 for the delivery charges on the September 6th transaction. The business returned two damaged refrigerators to Mason Retailers and received a credit of $8,600. 10 Sold several refrigerators to various customers with the credit terms 3/10, n/60 and bills were sent out as follows: Jose Mendes $5,000 Amy Thomas 10,500 Nicholas Jay 5,900 Dora Franklin 14,700    Totals $36,100 12 Borrowed $62,800 from National Trust Bank by signing a Notes Payable. 13 Dora Franklin returned a defective refrigerator to the business and received a credit of $4,900. 14 Issued a check to pay the bi-weekly employee salaries, $16,300. 15 Purchased Store Supplies on credit, terms 2/10, n/30, as follows: Wiley Retailers $2,200 Lisa Supplies Company 1,800 Farge Company 1,100 Lincoln Wholesale 2,800    Totals $7,900 17 Purchased a Delivery Truck for $72,000 in cash. 20 Received payment (before any applicable discounts) from the following customers for the September 10th sale to be applied to their accounts as follows (Hint: You will need to calculate amount of net cash received from customers): Jose Mendes $3,100 Amy Thomas 5,700 Nicholas Jay 4,000 Dora Franklin 8,300    Totals $21,100 21 Received cash of $25,000 in advance for 5 refrigerators to be delivered over the next few months. 22 Made a partial payment for the Store Supplies purchased on September 15th to be applied to the below accounts (before any applicable discounts) as follows (Hint: You will need to calculate amount of the net cash payment): Wiley Retailers $1,700 Lisa Supplies Company 3,000 Farge Company 600 Lincoln Wholesale 900    Totals $6,200 23 Stephanie Ram withdrew $4,300 in cash for her personal use. 24 Sold several refrigerators and received $202,500 cash. 25 Made a partial payment to Mason Retailers of $87,000 to be applied as a reduction to the account balance (before any applicable discounts) for the September 6th transaction (Hint: You will need to calculate amount of the net cash payment). 26 Paid the monthly utility bills, $8,700. 27 Stephanie Ram purchased a Forklift for $31,200. 28 Issued a check to pay the bi-weekly employee salaries, $16,300. 29 The Petty Cash Fund had a cash balance of $3,500 at the end of September with petty cash receipts/vouchers for postage, $360, and repair supplies, $860. A check was issued to replenish the fund. 30 Issued a check for the payment of September’s rent, $14,500. Prepare the Journal Entries in the General Journal. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.)General Journal: Date Account Titles Debit Credit 2016 Sept. 1                                                                                                                                                                                                                                                                                                                                                                                                                                                                        10                                                                                                                                                                                12                                                                       13                                                                       14                                                                       15                                                                                                                                                                                17                                                                       20                                                                                                                                                                                                                   21                                                                       22                                                                                                                                                                                                                   23                                                                       24                                                                       25                                                                                                          26                                                                       27                                                                       28                                                                       29                                                                                                                                             30                                                                       Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below):1. Scroll to the end of the page and click on the “Save for Later” button to save your work.2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the “Printer Version” button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section.Complete these steps each time you have finished a section. Do not click on the “Submit Answers” button until you have completed all of the sections. eTextbook and Media Post the Journal Entries to the General Ledger and Subsidiary Ledgers. Amounts to the Accounts Receivable and Accounts Payable should be posted as a total amount to the Accounts Receivable and Accounts Payable accounts in the General Ledger. (Post the General Journal entries in chronological order to the respective accounts in the Ledgers below. Calculate the running balances for each account after each posting. Do not use dollar signs ($) when entering amounts. Only recalculate the ending balances to Ledger accounts where amounts were posted. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.)General Ledger Cash Date Debit Credit Balance Aug. 31 Balance 152,900                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Petty Cash Fund Date Debit Credit Balance                                                                       Accounts Receivable Date Debit Credit Balance Aug. 31 Balance 16,000                                                                                                                                             Merchandise Inventory Date Debit Credit Balance Aug. 31 Balance 53,300                                    Store Supplies Date Debit Credit Balance Aug. 31 Balance 4,100                                                                       Office Supplies Date Debit Credit Balance Aug. 31 Balance 3,300                                                                       Prepaid Insurance Date Debit Credit Balance                                                                       Land Date Debit Credit Balance Aug. 31 Balance 35,000                                    Forklift Date Debit Credit Balance                                                                       Delivery Truck Date Debit Credit Balance Aug. 31 Balance 88,000                                                                       Accumulated Depreciation, Delivery Truck Date Debit Credit Balance Aug. 31 Balance 700                                    Accounts Payable Date Debit Credit Balance Aug. 31 Balance 20,000                                                                                                                                                                                                                   Unearned Sales Revenue Date Debit Credit Balance Aug. 31 Balance 1,900                                                                       Notes Payable Date Debit Credit Balance Aug. 31 Balance 61,000                                                                       Stephanie Ram, Capital Date Debit Credit Balance Aug. 31 Balance 269,000                                                                       Stephanie Ram, Drawings Date Debit Credit Balance                                                                       Sales Revenue Date Debit Credit Balance                                                                                                          Sales Discounts Date Debit Credit Balance                                                                       Sales Returns and Allowances Date Debit Credit Balance                                                                       Purchases Date Debit Credit Balance                                                                       Purchases Discounts Date Debit Credit Balance                                                                                                          Purchases Returns and Allowances Date Debit Credit Balance                                                                       Freight-In Date Debit Credit Balance                                                                       Salaries Expense Date Debit Credit Balance                                                                                                          Utilities Expense Date Debit Credit Balance                                                                       Repair Supplies Expense Date Debit Credit Balance                                                                       Postage Expense Date Debit Credit Balance                                                                       Rent Expense Date Debit Credit Balance                                                                       Cash Short & Over Date Debit Credit Balance                                                                       Accounts Receivable Subsidiary Ledger Jose Mendes Date Item Debit Credit Balance Aug. 25 Balance 3/20; N/60 9,600                                    3/10; N/60                                                                       Amy Thomas Date Item Debit Credit Balance                                    3/10; N/60                                                                       Nicholas Jay Date Item Debit Credit Balance Aug. 28 Balance 3/20; N/45 6,400                                    3/10; N/60                                                                       Dora Franklin Date Item Debit Credit Balance                                    3/10; N/60                                                                                                          Accounts Payable Subsidiary Ledger Wiley Retailers Date Item Debit Credit Balance                                    2/10; N/30                                                                       Lisa Supplies Company Date Debit Credit Balance Aug. 22 Balance 1/10; N/60 7,600                                    2/10; N/30                                                                       Farge Company Date Item Debit Credit Balance Aug. 24 Balance 2/15; N/60 8,500                                    2/10; N/30                                                                       Mason Retailers Date Item Debit Credit Balance Aug. 26 Balance 1/20; N/45 3,900                                    4/20; N/45                                                                                                          Lincoln Wholesale Date Item Debit Credit Balance                                    2/10; N/30                                                                       Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below):1. Scroll to the end of the page and click on the “Save for Later” button to save your work.2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the “Printer Version” button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section.Complete these steps each time you have finished a section. Do not click on the “Submit Answers” button until you have completed all of the sections. eTextbook and Media Prepare a Trial Balance using the account names and balances from the General Ledger. (Do not list those accounts that have zero ending balance. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.)                                                                                                        Debit Credit                                    $                                                                                                                                                                                                                                                                                                                                                                $                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Totals $  $  Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below):1. Scroll to the end of the page and click on the “Save for Later” button to save your work.2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the “Printer Version” button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section.Complete these steps each time you have finished a section. Do not click on the “Submit Answers” button until you have completed all of the sections. eTextbook and Media Using the information from the Accounts Receivable Subsidiary Ledger, prepare a Schedule of Accounts Receivable. (Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.)                                                                                                                                           $                                                                                                               Total $  Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below):1. Scroll to the end of the page and click on the “Save for Later” button to save your work.2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the “Printer Version” button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section.Complete these steps each time you have finished a section. Do not click on the “Submit Answers” button until you have completed all of the sections. eTextbook and Media Using the information from the Accounts Payable Subsidiary Ledger, prepare a Schedule of Accounts Payable. (Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.)                                                                                                                                           $                                                                                                                                                  Total $ 

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