Problem E-1A (Continued)
ACCOUNTS RECEIVABLE LEDGER
Jovita Albany
Date Explanation PR Debit Credit Balance
Min Cho
Date Explanation PR Debit Credit Balance
Mar. 2 S2 16,800 16,800
12 R2 16,800 0
Linda Witt
Date Explanation PR Debit Credit Balance
ACCOUNTS PAYABLE LEDGER
CD Company
Date Explanation PR Debit Credit Balance
Gabel Company
Date Explanation PR Debit Credit Balance
Mar. 3 P2 1,230 1,230
16 P2 1,770 3,000
Spell Supply
Date Explanation PR Debit Credit Balance
Mar. 9 P2 21,850 21,850
19 G2 630 21,220
Van Industries
Date Explanation PR Debit Credit Balance
Problem E-1A (Concluded)
Part 3
CHURCH COMPANY
Trial Balance
March 31
Debit Credit
Cash…………………………………….……..….…….….….$ 69,884
Accounts receivable……….…………….….….….…...19,225
Inventory………….………………………………….….…...17,694
Office supplies……………………..…….…..…….……..1,230
Common stock…………..………………..……..….……. 3,000
Retained earnings………………………………..….…… 7,000
Sales……………..……………………………….……………. 116,685
Sales discounts…………….……………………………... 652
CHURCH COMPANY
Schedule of Accounts Receivable
March 31
Jovita Albany……………………………..…..….…….…….$14,910
Linda Witt….………………………………...…….….…….… 4,315
Total accounts receivable……………………..…………$19,225
CHURCH COMPANY
Schedule of Accounts Payable
March 31
Problem E-2A (70 minutes)
Parts 1, 2 and 3
Apr. 3 Page Alistair…….…………..………….…….
760 4,000 3,000
5 Paula Kohr………………………………..…..
761 8,000 6,500
11 Nic Nelson……..……………………………..
762 10,500 7,000
CASH RECEIPTS JOURNAL Page 3
Date Account Credited Explanation PR
Cash
Dr.
Sales
Discoun
t
Dr.
Accounts
Receivable
Cr.
Sales
Cr.
Other
Accts.
Cr.
Cost of Goods
Sold Dr.
Inventory Cr.
Apr.13 Page Alistair…..……………………….……..Sale of 4/3 3,920 80 4,000
14 Paula Kohr………..…………..……………...Sale of 4/5 7,840 160 8,000
16 Sales………..………………………..…………Cash Sales 52,840 52,840 35,880
18 L.T. Notes Payable……………………………Note to bank 251 60,000 60,000
20 Nic Nelson…………………………..………..Sale of 4/11 10,290 210 10,500
Problem E-2A (Continued)
Parts 2 and 3
GENERAL LEDGER
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Mar. 31 85,000
Apr. 30 R3 213,863 298,863
Accounts Receivable Acct. No. 106
Date Explanation PR Debit Credit Balance
Apr. 30 S3 37,470 37,470
30 R3 27,600 9,870
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Mar. 31 20,000
Retained Earnings Acct. No. 318
Date Explanation PR Debit Credit Balance
Mar. 31 80,000
Sales Acct. No. 413
30 R3 94,780 121,705
Problem E-2A (Continued)
Parts 2 and 3 (continued)
ACCOUNTS RECEIVABLE LEDGER
Page Alistair
Date Explanation PR Debit Credit Balance
Apr. 3 S3 4,000 4,000
Paula Kohr
Date Explanation PR Debit Credit Balance
Apr. 5 S3 8,000 8,000
14 R3 8,000 0
27 S3 3,170 3,170
Nic Nelson
Date Explanation PR Debit Credit Balance
Part 4
WISET COMPANY
Trial Balance
April 30
Debit Credit
Cash…………………………………….……..….…….….…. $298,863
Sales discounts…………….……………………………... 552
Cost of goods sold…………….….….…….….….….… 121,705 _______
Totals…………………….………………………………..…... $434,285 $434,285
Problem E-2A (Concluded)
Part 4 (continued)
WISET COMPANY
Schedule of Accounts Receivable
April 30
Paula Kohr…………….….…….…….….….….…. $3,170
Part 5
Analysis component
To find the error(s), first re-add the account balances on the schedule of
accounts receivable to confirm that the addition is correct. Then, trace the
balances listed on the schedule of accounts receivable back to the
subsidiary accounts to confirm that they are listed correctly on the
Financial and Managerial Accounting, 6th Edition
28
Problem E-3A (120 minutes)
Parts 1 and 3
PURCHASES JOURNAL Page 3
Date Account
Date of
Invoice Terms PR
Accounts
Payable
Cr.
Inventory
Dr.
Office
Supplies
Dr.
Other
Accounts
Dr.
Apr. 2 Noth Company…………………………….…..
4/2 2/10, n/60 14,300 14,300
3 Office Supplies/Custer Inc…………..……..
4/2 n/10, EOM 1,480 1,480
CASH DISBURSEMENTS JOURNAL Page 3
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Inventory
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Apr. 4 587 World View…………………………..……..…..Advertising Expense…………………………..….…………….………
65
5
899 899
30 591 Payroll……………..…………………….………Sales Salaries Expense…………………………….….……………….
62
1
10,750
___ 10,750
_____
30 Totals……………………..………….…….……. 49,
153
546
22,399
27,300
(101) (119) () (201)
Problem E-3A (Continued)
Parts 1 and 3—continued
GENERAL JOURNAL Page 3
Apr. 6 Accounts Payable–Custer Inc……....…..…..……..…..
201/80
Office Supplies..................................................124 80
Received a credit memorandum.