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Parts 2 and 3
GENERAL LEDGER
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Mar. 31 85,000
Apr. 30 D3 49,153 35,847
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Store Supplies Acct. No. 125
Date Explanation PR Debit Credit Balance
Apr. 20 P3 830 830
Store Equipment Acct. No. 165
Date Explanation PR Debit Credit Balance
Problem E-3A (Continued)
General Ledger—continued
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Apr. 6 G3 80 (80)
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
Mar. 31 110,000
Common Stock Acct. No. 307
Sales Salaries Expense Acct. No. 621
Date Explanation PR Debit Credit Balance
Apr. 16 D3 10,750 10,750
30 D3 10,750 21,500
ACCOUNTS PAYABLE LEDGER
Custer, Inc.
Date Explanation PR Debit Credit Balance
Grant Company
Date Explanation PR Debit Credit Balance
Apr. 17 P3 13,750 13,750
Problem E-3A (Concluded)
Parts 2 and 3—continued
Accounts Payable Ledger—continued
Hal’s Supply
Date Explanation PR Debit Credit Balance
Noth Company
Date Explanation PR Debit Credit Balance
Apr. 2 P3 14,300 14,300
Part 4
WISET COMPANY
Trial Balance
April 30
Debit Credit
Cash............................................................. $ 35,847
Inventory..................................................... 163,129
Office supplies............................................ 1,400
Store supplies............................................. 830
Store equipment.......................................... 12,125
Sales salaries expense............................... 21,500
WISET COMPANY
Schedule of Accounts Payable
April 30
Custer, Inc.................................................... $ 1,400
Hal’s Supply................................................. 12,955
PROBLEM SET B
Problem E-1B (100 Minutes)
Parts 1 and 2
SALES JOURNAL Page 2
Date Account Debited
Invoice
Number PR
Accounts Receivable Dr.
Sales Cr.
Cost of Goods Sold Dr.
Inventory Cr.
Nov. 8 Cyd Rounder.......................................439 6,550 3,910
10 Carlos Mantel.......................................440 13,500 8,500
30 Totals................................................... 33,275
19,050
(106/413) (502/119)
PURCHASES JOURNAL Page 2
Date Account
Date of
Invoice Terms PR
Accounts
Payable
Cr.
Inventory
Dr.
Office
Supplies
Dr.
Other
Accounts
Dr.
Nov. 1 Office Equip./Brun Supply......................11/1 n/10, EOM 163/5,058 5,058
4 BLR Industries......................................11/3 2/10, n/30 33,500 33,500
5 Store Supplies/Grebe Company.................11/5 n/10, EOM 125/1,040 1,040
Financial and Managerial Accounting, 6th Edition
36
Problem E-1B (Continued)
CASH RECEIPTS JOURNAL Page 2
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.
Nov. 2 L.T. Notes Pay.........................................Note to bank..........................................................................
251/88,500 88,500
30 Sales......................................................Cash sales.............................................................................
16,703
___ _____ 16,703
_____ 10,200
30 Totals..................................................... 148,167
506
25,300
34,873
88,500
19,200
(101) (415) (106) (413) () (502/119)
CASH DISBURSEMENTS JOURNAL Page 2
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Inventory
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Nov. 12 633 BLR Industries.......................................BLR Industries......................................................................
32,830 670 33,500
15 634 Payroll...................................................Sales Salaries
Expense................................................................................
621 6,585 6,585
(101) (119) () (201)
Problem E-1B (Continued)
Financial and Managerial Accounting, 6th Edition
38
GENERAL JOURNAL Page 2
Nov. 17 Accounts Payable—Lo Co...........................201/557
Inventory.................................................119 557
Received a credit memo for returns.
GENERAL LEDGER
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Nov. 30 R2 148,167 148,167
30 D2 47,960 100,207
Accounts Receivable Acct. No. 106
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Nov. 1 40,000
17 G2 557 39,443
30 P2 36,057 75,500
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Nov. 30 P2 459 459
Store Supplies Acct. No. 125
Date Explanation PR Debit Credit Balance
