EXERCISES (CONTINUED)
10B-4.
CODY’S CLOTHING
SCHEDULE OF ACCOUNTS PAYABLE
APRIL 30, 201X
Hall
$ 1,100
Parker
250
Total Accounts Payable
$ 1,350
The schedule of accounts payable at April 30, 201X equals the accounts payable account at April 30,
201X.
10B-5.
Account Category Increase Dr. or Cr.
Purchases
Cost
↑
Accounts Payable
Liability
↑
10B-6.
(
List price
–
Trade discount
amount
)
x
(100% – Cash
discount)
= Actual Cost
(
$3,700
–
$1,184
)
x
(100% – 5%)
= $2,390.20
10B-7.
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Apr.
8
Merchandise Inventory
12
0
0
0
00
Accounts Payable, Tustin Supplies
12
0
0
0
00
15
Accounts Receivable
7
0
0
0
00
Sales
7
0
0
0
00
15
Cost of Goods Sold
5
5
0
0
00
Merchandise Inventory
5
5
0
0
00
20
Accounts Payable, Tustin Supplies
1
4
0
00
Merchandise Inventory
1
4
0
00
EXERCISES (CONTINUED)
10B-8.
Date
201X
Account Titles and Description
PR
Dr.
Cr.
July
4
Cash
5
0
0
00
Sales
5
0
0
00
4
Cost of Goods Sold
1
5
0
00
Merchandise Inventory
1
5
0
00
9
Merchandise Inventory
2
5
0
0
00
Accounts Payable, Rare Co.
2
5
0
0
00
20
Merchandise Inventory
1
0
0
00
Cash
1
0
0
00
Apr.
5
Cash
1
2
5
0
00
Sales
1
2
5
0
00
5
Cost of Goods Sold
8
5
0
00
Merchandise Inventory
8
5
0
00
Sales Returns and Allowances
7
0
00
Cash
7
0
Merchandise Inventory
2
5
00
Cost of Goods Sold
2
5
EXERCISES (CONCLUDED)
10B-10.
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Jul.
8
Accounts Receivable, Ring Co.
6
2
0
00
Sales
6
2
0
00
8
Cost of Goods Sold
3
5
0
00
Merchandise Inventory
3
5
0
00
12
Office Equipment
1
9
0
0
00
Accounts Payable, TRE Co.
1
9
0
0
00
13
Sales Returns and Allowances
2
5
0
00
Cash
2
5
0
00
13
Merchandise Inventory
4
0
00
Cost of Goods Sold
4
0
00
PROBLEM 10A-1
ROBERT’S SKATE SHOP
GENERAL JOURNAL
PAGE 2
Date
201X
Account Titles and Description
PR
Dr.
Cr.
May
4
Purchases
510
6
0
0
00
Accounts Payable, Wales Co.
210/√
6
0
0
00
Merch. on Acct. Inv. No. 442
5
Store Equipment
121
4
6
0
0
00
Accounts Payable, Kingston Co.
210/√
4
6
0
0
00
Eq. Purch. on Acct. Inv. No. 502
8
Purchases
510
1
7
0
0
00
Accounts Payable, Rolo Co.
210/√
1
7
0
0
00
Merch. on Acct. Inv. No. 401
14
Store Supplies
115
1
0
0
0
00
Accounts Payable, Wales Co.
210/√
1
0
0
0
00
Supplies Bought on Acct. Inv. 419
PROBLEM 10A-1 (CONTINUED)
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
NAME
WALES CO.
ADDRESS
12 SMITH ST., DEARBORN, Ml 09113
Date
201X
Explanation
Post
Ref.
Debit
Credit
Cr. Balance
May
4
GJ2
6
0
0
00
6
0
0
00
14
GJ2
1
0
0
0
00
1
6
0
0
00
NAME
KINGSTON CO.
ADDRESS
1 RANTOUL RD., CHARLOTTE, NC 01114
Date
201X
Explanation
Post
Ref.
Debit
Credit
Cr. Balance
May
5
GJ2
4
6
0
0
00
4
6
0
0
00
NAME
ROLO CO.
ADDRESS
2 WEST RD., LYNN, MA 01471
Date
201X
Explanation
Post
Ref.
Debit
Credit
Cr. Balance
May
8
GJ2
1
7
0
0
00
1
7
0
0
00
PROBLEM 10A-1 (CONCLUDED)
PARTIAL GENERAL LEDGER
STORE SUPPLIES
ACCOUNT NO. 115
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
May
14
GJ2
1
0
0
0
00
1
0
0
0
00
STORE EQUIPMENT
ACCOUNT NO. 121
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
May
5
GJ2
4
6
0
0
00
4
6
0
0
00
ACCOUNT NO. 210
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
May
4
GJ2
0
0
00
6
0
0
9
0
Debit
Credit
PROBLEM 10A-2
(1)
RILEY’S NATURAL FOOD STORE
GENERAL JOURNAL
PAGE 2
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Apr.
8
Purchases
510
7
5
0
00
Accounts Payable, Aris Co.
210/√
7
5
0
00
Merch. on Acct. Inv. No. 400
10
Purchases
510
1
3
5
0
00
Accounts Payable, Brown Co.
210/√
1
3
5
0
00
Merch. on Acct. Inv. No. 420
12
Store Supplies
110
4
0
0
00
Accounts Payable, Moose Co.
210/√
4
0
0
00
Supplies on Acct. Inv. No. 510
14
Accounts Payable, Aris Co.
210/√
3
0
0
00
Purchases Returns and Allowances
512
3
0
0
00
Issued Debit Memo #8
17
Office Equipment
120
6
4
0
00
Accounts Payable, Ready Co.
210/√
6
4
0
00
Equip. on Acct. Inv. No. 810
24
Store Supplies
110
8
5
0
00
Accounts Payable, Moose Co.
210/√
8
5
0
00
Supplies on Acct. Inv. No. 516
PROBLEM 10A-2 (CONTINUED)
(2)
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
NAME
ARIS CO.
ADDRESS
11 LYNNWAYAVE., NEWPORT, RI 03112
Date
201X
Explanation
Post
Ref.
Debit
Credit
Cr. Balance
Apr.
1
Balance
√
3
5
0
00
8
GJ2
7
5
0
00
1
1
0
0
00
14
GJ2
3
0
0
00
8
0
0
00
201X
Ref.
Debit
Credit
Cr. Balance
Apr.
√
8
0
0
00
GJ2
1
3
0
00
2
1
5
0
00
201X
Ref.
Debit
Credit
Cr. Balance
Apr.
√
7
0
0
00
GJ2
6
0
00
1
3
4
0
00
PROBLEM 10A-2 (CONTINUED)
PARTIAL GENERAL LEDGER
STORE SUPPLIES
ACCOUNT NO. 110
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
12
GJ2
4
0
0
00
4
0
0
00
24
GJ2
8
5
0
00
1
2
5
0
00
201X
Explanation
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
17
GJ2
6
4
0
00
6
4
0
00
ACCOUNT NO. 210
Date
Post
Balance
Apr.
3
2
0
0
GJ2
5
0
00
3
9
5
0
1
5
GJ2
5
GJ2
5
GJ2
6
GJ2
6
201X
Explanation
Debit
Credit
Debit
Credit
Apr.
19
0
0
0
00
GJ2
7
5
0
00
19
7
5
0
00
GJ2
1
PROBLEM 10A-2 (CONCLUDED)
PURCHASES RETURNS AND ALLOWANCE
ACCOUNT NO. 512
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Apr.
14
GJ2
3
0
0
00
3
0
0
00
(3)
RILEY’S NATURAL FOOD STORE
SCHEDULE OF ACCOUNTS PAYABLE
3
4
0