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Parts 2 and 3
QA_Ori
GENERAL LEDGER
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Accounts Receivable Acct. No. 106
Date Explanation PR Debit Credit Balance
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
Sales Discounts Acct. No. 415
Date Explanation PR Debit Credit Balance
Cost of Goods Sold Acct. No. 502
QA_Ori
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
Nic Nelson
Date Explanation PR Debit Credit Balance
Apr. 11 S3 10,500 10,500
Part 4
QA_Ori
WISET COMPANY
Trial Balance
April 30
Debit Credit
Cash $298,863
Accounts receivable 9,870
Inventory 3,295
QA_Ori
WISET COMPANY
Schedule of Accounts Receivable
April 30
Total accounts receivable $9,870
Part 5
Analysis component
QA_Ori: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
Title: Problem 7-2A
Parts 1 and 3
QA_Ori
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
QA_Ori
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 655 899 899
12 588 Noth Company Noth Company 14,014 286 14,300
(101) (119) () (201)
QA_Ori
GENERAL JOURNAL Page 3
Apr. 6 Accounts Payable--Custer Inc. 201/80
Parts 2 and 3
QA_Ori
GENERAL LEDGER
Cash Acct. No. 101
Date Explanation PR Debit Credit Balance
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Mar. 31 125,000
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
6 G3 80 1,400
Store Supplies Acct. No. 125
Date Explanation PR Debit Credit Balance
Apr. 20 P3 830 830
QA_Ori
Store Equipment Acct. No. 165
Date Explanation PR Debit Credit Balance
Apr. 9 P3 12,125 12,125
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
B. Wiset, Capital Acct. No. 301
Date Explanation PR Debit Credit Balance
Mar. 31 100,000
Sales Salaries Expense Acct. No. 621
Date Explanation PR Debit Credit Balance
Advertising Expense Acct. No. 655
Date Explanation PR Debit Credit Balance
ACCOUNTS PAYABLE LEDGER
Custer, Inc.
Date Explanation PR Debit Credit Balance
6 G3 80 1,400
Grant Company
26 D3 13,000 0
Accounts Payable Ledger
QA_Ori
Hal’s Supply
Date Explanation PR Debit Credit Balance
Noth Company
Date Explanation PR Debit Credit Balance
Part 4
QA_Ori:
WISET COMPANY
Trial Balance
April 30
Debit Credit
Cash $ 35,847
Inventory 163,129
Office supplies 1,400
Store supplies 830
WISET COMPANY
Schedule of Accounts Payable
April 30
Custer, Inc. $ 1,400
(106/413) (502/119)
QA_Ori
PURCHASES JOURNAL Page 2
Date Account
Date of
Invoice Terms PR
Accounts
Payable
Cr.
Inventory
Dr.
Office
Supplies
Dr.
Other
Accounts
Dr.
Mar. 1 Van Industries 3/1 2/15, n/30 43,600 43,600
3 Gabel Company 3/3 n/10, EOM 1,230 1,230
(201) (119) (124) ()
Parts 1 and 2
QA_Ori
CASH RECEIPTS JOURNAL Page 2
Date
Account Credited
Explanation PR
Cash
Dr.
Sales
Discount
Dr.
Accounts
Receivable
Cr.
Sales
Cr.
Other
Accts.
Cr.
Cost of Goods Sold
Dr. Inventory Cr.
Mar. 6 L.T. Notes Pay. Note to bank 251 82,000 82,000
12 Min Cho Invoice, 3/2 16,464 336 16,800
13 Linda Witt Invoice 3/3 9,996 204 10,200
(101) (415) (106) (413) () (502/119)
QA_Ori
CASH DISBURSEMENTS JOURNAL Page 2
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Inventory
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Mar. 13 416 Van Industries Van Industries 42,728 872 43,600
(101) (119) () (201)
QA_Ori
GENERAL JOURNAL Page 2
Mar. 17 Accounts Payable—CD Co. 201/2,425
Inventory 119 2,425
QA_Ori
GENERAL LEDGER
Date Explanation PR Debit Credit Balance
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Mar. 1 10,000
17 G2 2,425 7,575
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Store Supplies Acct. No. 125
Date Explanation PR Debit Credit Balance
QA_Ori
Office Equipment Acct. No. 163
Date Explanation PR Debit Credit Balance
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
Z. Church, Capital Acct. No. 301
Date Explanation PR Debit Credit Balance
Sales Acct. No. 413
Date Explanation PR Debit Credit Balance
Sales Discounts Acct. No. 415
Date Explanation PR Debit Credit Balance
Cost of Goods Sold Acct. No. 502
Date Explanation PR Debit Credit Balance
QA_Ori
ACCOUNTS RECEIVABLE LEDGER
Jovita Albany
Date Explanation PR Debit Credit Balance
Min Cho
Date Explanation PR Debit Credit Balance
Linda Witt
Date Explanation PR Debit Credit Balance
28 S2 4,315 4,315
ACCOUNTS PAYABLE LEDGER
CD Company
Date Explanation PR Debit Credit Balance
Gabel Company
Date Explanation PR Debit Credit Balance
Spell Supply
Date Explanation PR Debit Credit Balance
Van Industries
Date Explanation PR Debit Credit Balance
