Part 3
QA_Ori
CHURCH COMPANY
Trial Balance
March 31
Debit Credit
Cash $ 69,884
Accounts receivable 19,225
Inventory 17,694
Office supplies 1,230
QA_Ori
CHURCH COMPANY
Schedule of Accounts Receivable
March 31
QA_Ori
CHURCH COMPANY
Schedule of Accounts Payable
March 31
Title: Problem 7-1B
Parts 1 and 2
QA_Ori
SALES JOURNAL
Date Account Debited
Invoice
Number PR
Accounts Receivable Dr.
Sales Cr.
Cost of Goods Sold Dr. Inventory Cr.
July 5 Kim Nettle 918 19,200 10,500
31 Totals 74,670
44,520
(106/413) (502/119)
CASH RECEIPTS JOURNAL
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.
July 15 Kim Nettle Sale of 7/5 18,816 384 19,200
15 Sales Cash sales 118,350 118,350 76,330
(101) (415) (106) (413) () (502/119)
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
R. Acorn, 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
Ruth Blake
Date Explanation PR Debit Credit Balance
Ashton Moore
Date Explanation PR Debit Credit Balance
Kim Nettle
Date Explanation PR Debit Credit Balance
Part 4
QA_Ori
ACORN INDUSTRIES
Trial Balance
July 31
Debit Credit
Cash $353,137
Accounts receivable 34,320
Inventory 25,295
Part 4
QA_Ori
ACORN INDUSTRIES
Schedule of Accounts Receivable
July 31
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
Title: Problem 7-2B
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.
July 1 Teton Company 6/30 2/10, n/30 6,500 6,500
7 Store Supp./Plaine Inc. 7/7 n/10, EOM 125/1,250 1,250
9 Store Equip./Charm’s Supply 7/8 n/10, EOM 165/38,220 38,220
(201) (119) (124) (
QA_Ori
CASH DISBURSEMENTS JOURNAL Page 3
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Inventory
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
July 3 300 The Weekly Advertising Expense 655 625 625
10 301 Teton Company Teton Company 6,370 130 6,500
(101) (119) () (201)
QA_Ori
GENERAL JOURNAL Page 3
July 8 Accounts Payable—Plaine 201/250
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
June 30 200,000
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Store Supplies Acct. No. 125
Date Explanation PR Debit Credit Balance
QA_Ori
Store Equipment Acct. No. 165
Date Explanation PR Debit Credit Balance
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
July 8 G3 250 (250)
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
R. Acorn, Capital Acct. No. 301
Date Explanation PR Debit Credit Balance
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
Charm’s Supply
Date Explanation PR Debit Credit Balance
Drake Company
Date Explanation PR Debit Credit Balance
QA_Ori
Plaine, Inc.
Date Explanation PR Debit Credit Balance
Teton Company
Date Explanation PR Debit Credit Balance
July 1 P3 6,500 6,500
10 D3 6,500 0
26 P3 9,770 9,770
Part 4
QA_Ori
ACORN INDUSTRIES
Trial Balance
July 31
Debit Credit
Cash $ 24,601
Inventory 220,844
Office supplies 650
Store supplies 1,000
QA_Ori
ACORN INDUSTRIES
Schedule of Accounts Payable
July 31
