EXERCISES (CONTINUED)
9B-3.
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Aug.
24
Cash
8
9
3
00
Sales Discount
4
7
00
Accounts Receivable, Ralph Co.
9
4
0
00
EXERCISES (CONTINUED)
9B-4. Page 1
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Aug.
1
Cash
111
3
2
0
0
00
Andrew Rodgers, Capital
311
3
2
0
0
00
Owner Investment
1
Accounts Receivable, Clearview Co.
113/√
6
5
0
00
Sales
411
6
5
0
00
Sales on Account
2
Accounts Receivable, Nathan Co.
113/√
9
5
0
00
Sales
411
9
5
0
00
Sales on Account
3
Cash
111
2
0
0
00
Sales
411
2
0
0
00
Cash Sale
8
Sales Returns and Allowances
412
2
5
0
00
Accounts Receivable, Clearview Co.
113/√
2
5
0
00
Issued Credit Memo #1
10
Cash
111
3
8
8
00
Sales Discounts
413
1
2
00
Accounts Receivable, Clearview Co.
113/√
4
0
0
00
Payment Received Less Discount
15
Cash
111
4
0
0
00
Sales
411
4
0
0
00
Cash Sales
18
Accounts Receivable, Clearview Co.
113/√
5
5
0
00
Sales
411
5
5
0
00
Sales on Account
EXERCISES (CONTINUED)
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
PARTIAL GENERAL LEDGER
Clearview Co.
Cash
111
8/01 GJ1 650
250 GJ1 8/08
8/01 GJ1
3200
8/18 GJ1 550
400 GJ1 8/10
8/03 GJ1
200
Bal, 550
8/10 GJ1
388
8/15 GJ1
400
Bal. 4,188
Nathan Co.
Accounts Receivable
113
8/02 GJ1 950
8/01 GJ1
650
250 GJ1 8/08
8/02 GJ1
950
400 GJ1 8/10
8/18 GJ1
550
Bal. 1,500
Andrew Rodgers, Capital
311
3200 GJ1 8/01
Sales
411
650 GJ1 8/01
950 GJ1 8/02
200 GJ1 8/03
400 GJ1 8/15
550 GJ1 8/18
2,750 Bal.
Sales Returns &
Allowances
Sales Discount
413
412
8/10 GJ1 12
8/8 GJ1 250
EXERCISES (CONTINUED)
9B–5.
Sales ticket price
$ 10,000
–
Credit for return
800
=
Sales price after credit
$ 9,200
X
Discount rate
1%
=
Discount
$ 92
Sales price after credit
$ 9,200
X
Sales tax rate
5%
=
Sales tax
$ 460
Sales price after credit
$ 9,200
+
Sales tax
460
=
Sales price after tax
$ 9,660
–
Discount
92
=
Amount paid
$ 9,568
Copyright © 2016 Pearson Education, Inc.
9-15
SOLUTIONS TO SET A PROBLEMS
PROBLEM 9A-1
(1)
FONTINA AND STUFF
GENERAL JOURNAL
PAGE 1
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Feb.
1
Accounts Receivable, Fran Co.
112/√
8
5
0
00
Grocery Sales
411
8
5
0
00
Sales Inv. 1 on Account to Fran
4
Accounts Receivable, Groom Co.
112/√
1
1
0
0
00
Cheese Sales
410
1
1
0
0
00
Sales Inv. 2 on Account to Groom
8
Accounts Receivable, Dutch Co.
112/√
1
1
0
0
00
Grocery Sales
411
1
1
0
0
00
Sales Inv. 3 on Account to Dutch
10
Sales Returns and Allowances
412
1
6
0
00
Accounts Receivable, Fran Co.
112/√
1
6
0
00
Issued Credit Memo #1
15
Accounts Receivable, Groom Co.
112/√
2
5
0
00
Cheese Sales
410
2
5
0
00
Sales Inv. 4 on Account to Groom
19
Accounts Receivable, Dutch Co.
112/√
6
5
0
00
Grocery Sales
411
6
5
0
00
Sales Inv. 5 on Account to Dutch
25
Accounts Receivable, Fran Co.
112/√
7
0
0
00
Cheese Sales
410
7
0
0
00
Sales Inv. 6 on Account to Fran
PROBLEM 9A-1 (CONTINUED)
(2)
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
NAME
DUTCH CO.
ADDRESS
8 JOSS AVE., LYNN, MA 01947
Date
201X
Explanation
Post
Ref.
Debit
Credit
Dr. Balance
Feb.
8
GJ1
1
1
0
0
00
1
1
0
0
00
19
GJ1
6
5
0
00
1
7
5
0
00
NAME
FRAN CO.
ADDRESS
942 MOSE ST., REVERE, MA 01938
Date
201X
Explanation
Post
Ref.
Debit
Credit
Dr. Balance
Feb.
1
GJ1
8
5
0
00
8
5
0
00
10
GJ1
1
6
0
00
6
9
0
00
25
GJ1
7
0
0
00
1
3
9
0
00
NAME
GROOM CO.
ADDRESS
10 LOST RD., TOPSFIELD, MA 01998
Date
201X
Explanation
Post
Ref.
Debit
Credit
Dr. Balance
Feb.
4
GJ1
1
1
0
0
00
1
1
0
0
00
15
GJ1
2
5
0
00
1
3
5
0
00
PROBLEM 9A–1 (CONTINUED)
FONTINA AND STUFF
GENERAL LEDGER
ACCOUNTS RECEIVABLE
ACCOUNT NO. 112
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Feb.
1
GJ1
8
5
0
00
8
5
0
00
4
GJ1
1
1
0
0
00
1
9
5
0
00
8
GJ1
1
1
0
0
00
3
0
5
0
00
10
GJ1
1
6
0
00
2
8
9
0
00
15
GJ1
2
5
0
00
3
1
4
0
00
19
GJ1
6
5
0
00
3
7
9
0
00
25
GJ1
7
0
0
00
4
4
9
0
00
CHEESE SALES
ACCOUNT NO. 410
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Feb.
4
GJ1
1
1
0
0
00
1
1
0
0
00
15
GJJ
2
5
0
00
1
3
5
0
00
25
GJ1
7
0
0
00
2
0
5
0
00
GROCERY SALES
ACCOUNT NO. 411
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Feb.
1
GJ1
8
5
0
00
8
5
0
00
8
GJ1
1
1
0
0
00
1
9
5
0
00
19
GJ1
6
5
0
00
2
6
0
0
00
SALES RETURNS AND ALLOWANCES
ACCOUNT NO. 412
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Feb.
10
GJ1
1
6
0
00
1
6
0
00
(3)
FONTINA AND STUFF
SCHEDULE OF ACCOUNTS RECEIVABLE
Copyright © 2016 Pearson Education, Inc.
9-19
PROBLEM 9A-2
(1)
JEFF’S AUTO SUPPLY
GENERAL JOURNAL
PAGE 2
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Feb.
1
Accounts Receivable, R. Dick
110/√
8
8
0
00
Sales Tax Payable
210
8
0
00
Auto Parts Sales
410
8
0
0
00
Sold Dick Invoice No. 10
5
Accounts Receivable, J. Metcalf
110/√
8
8
0
00
Sales Tax Payable
210
8
0
00
Auto Parts Sales
410
8
0
0
00
Sold Metcalf Invoice No. 11
8
Accounts Receivable, L. Black
110/√
6
6
0
0
00
Sales Tax Payable
210
6
0
0
00
Auto Parts Sales
410
6
0
0
0
00
Sold Black Invoice No. 12
10
Sales Returns and Allowances
420
7
0
0
00
Sales Tax Payable
210
7
0
00
Accounts Receivable, R. Dick
110/√
7
7
0
00
Issued Credit Memo #12
12
Accounts Receivable, J. Metcalf
110/√
4
4
0
00
Sales Tax Payable
210
4
0
00
Auto Parts Sales
410
4
0
0
00
Sold Metcalf Invoice No. 3
PROBLEM 9A-2 (CONTINUED)
(2)
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
NAME
L. BLACK
ADDRESS
9 ROE ST., BARTLETT, NH 01382
Date
201X
Explanation
Post
Ref.
Debit
Credit
Dr. Balance
Feb.
1
Balance
√
1
0
0
00
8
GJ2
6
6
0
0
00
6
7
0
0
00
NAME
R. DICK
ADDRESS
12 ASTER RD., MERIMACK, NH 02134
Date
201X
Explanation
Post
Ref.
Debit
Credit
Dr. Balance
Feb.
1
Balance
√
1
1
0
0
00
1
GJ2
8
8
0
00
1
9
8
0
00
10
GJ2
7
7
0
00
1
2
1
0
00
NAME
J. METCALF
ADDRESS
22 REESE ST., LACONIA, NH 04321
5
GJ2
8
8
0
00
1
0
8
0
12
GJ2
4
4
0
00
1
5
2
0
00