Title: Problem 7-3B
Parts 1 and 2
QA_Ori
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
(106/413) (502/119)
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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
(201) (119) (124) ()
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CASH RECEIPTS JOURNAL Page 2
Account Credited Cash
Sales
Discount
Accounts
Receivable Sales
Other
Accts.
Cost of Goods Sold
Dr. Inventory Cr.
Date Explanation PR Dr. Dr. Cr. Cr. Cr.
Nov. 2 L.T. Notes Pay. Note to bank 251/88,500 88,500
15 Sales Cash sales 18,170 18,170 9,000
(101) (415) (106) (413) () (502/119)
Title: Problem 7-3B
QA_Ori:
GENERAL JOURNAL Page 2
Nov. 17 Accounts Payable—Lo Co. 201/557
Inventory 119 557
QA_Ori:
GENERAL LEDGER
Date Explanation PR Debit Credit Balance
Accounts Receivable Acct. No. 106
Date Explanation PR Debit Credit Balance
Nov. 30 S2 33,275 33,275
30 R2 25,300 7,975
Inventory Acct. No. 119
Date Explanation PR Debit Credit Balance
Nov. 1 40,000
17 G2 557 39,443
Office Supplies Acct. No. 124
Date Explanation PR Debit Credit Balance
Store Supplies Acct. No. 125
Date Explanation PR Debit Credit Balance
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Office Equipment Acct. No. 163
Date Explanation PR Debit Credit Balance
Accounts Payable Acct. No. 201
Date Explanation PR Debit Credit Balance
Nov. 17 G2 557 (557)
Long-Term Notes Payable Acct. No. 251
Date Explanation PR Debit Credit Balance
Nov. 2 R2 88,500 88,500
C. Grassley, 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
Costs of Goods Sold Acct. No. 502
Date Explanation PR Debit Credit Balance
Sales Salaries Expense Acct. No. 621
Date Explanation PR Debit Credit Balance
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ACCOUNTS RECEIVABLE LEDGER
Carlos Mantel
Date Explanation PR Debit Credit Balance
Cyd Rounder
Date Explanation PR Debit Credit Balance
Tori Tripp
Date Explanation PR Debit Credit Balance
Nov. 15 S2 5,250 5,250
QA_ Ori:
ACCOUNTS PAYABLE LEDGER
BLR Industries
Date Explanation PR Debit Credit Balance
Brun Supply
Date Explanation PR Debit Credit Balance
Nov. 1 P2 5,058 5,058
26 G2 922 4,136
Grebe Company
Date Explanation PR Debit Credit Balance
Lo Company
Date Explanation PR Debit Credit Balance
Part 3
QA_Ori:
GRASSLEY COMPANY
Trial Balance
November 30
Debit Credit
Cash $100,207
Accounts receivable 7,975
Inventory 36,540
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GRASSLEY COMPANY
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GRASSLEY COMPANY
Schedule of Accounts Payable
November 30
Brun Supply $4,136
Grebe Company 1,499
Total accounts payable $5,635
Title: Serial Problem, Success Systems
Parts 1 and 2
QA_Ori:
SALES JOURNAL Page 2
Date Account Debited
Invoice
Number PR
Accounts Receivable Dr.
Sales Cr.
Cost of Goods Sold Dr. Inventory Cr.
Jan. 13 Liu Corp. n/a 5,200 3,560
26 KC, Inc. n/a 5,800 4,640
(106/413) (502/119)
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CASH RECEIPTS JOURNAL Page 2
Date
Account Credited
Explanation PR
Cash
Dr.
Sales
Discount
Dr.
Accounts
Receivable
Cr.
Services
Revenue
Cr.
Other
Accts.
Cr.
Cost of Goods Sold
Dr. Inventory Cr.
Jan. 9 Gomez Co Invoice, n/a 2,668 2,668
16 Services Revenue Cash Sales 4,000 4,000
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CASH DISBURSEMENTS JOURNAL Page 2
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Inventory
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Jan. 4 n/a Lyn Addie Wages Expense
Wages Payable
623/210 625 125
500
15 n/a Not specified Merchandise Inventory 119 600 600
17 n/a Kansas Corp Kansas Corp 5,742 58 5,800
31 n/a Lyn Addie Wages Expense 623 1,250 1,250
(101) (119) () (201)
Part 3
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GENERAL JOURNAL Page 2
2014
Jan. 5 Cash 101 25,000
A. Lopez, Capital301 25,000
Additional investment by owner.
11 Accounts Receivable—Alex’s Eng. Co 106.1 5,500
Unearned Computer Services Revenue 236 1,500
Computer Services Revenue 403 7,000
Completed work on project.
Part 1
QA_Ori:
SALES JOURNAL Page 2
Date Account Debited
Invoice
Number PR
Accounts Receivable Dr.
Sales Cr.
Cost of Goods Sold Dr.
Inventory Cr.
May 2 Hensel Company 8785 6,100 4,100
(106/413) (502/119)
QA_Ori:
PURCHASES JOURNAL
Date Account
Date of
Invoice Terms PR
Accounts
Payable
Cr.
Inventory
Dr.
Office
Supplies
Dr.
May 4 Store Supp./Gear Supp 5/04 n/10, EOM 125/37,729 37,072 83
10 Office Equip./Gear Supp 5/10 n/10, EOM 163/4,074
11 Garcia, Inc 5/10 2/10, n/30 8,800 8,800
17 Fink Corp 5/14 2/10, n/60 13,650 13,650
24 Store Supp./Gear Supp 5/24 n/10, EOM 125/9,030 8,120 280
25 Peyton Products 5/23 2/10, n/30 3,080
3,080
___
31 Totals 76,363
70,722
363
(201) (119) (124)
QA_Or
CASH DISBURSEMENTS JOURNAL
Date
Ck.
No. Payee Account Debited PR
Cash
Cr.
Inventory
Cr.
Other
Accounts
Dr.
Accounts
Payable
Dr.
May 1 3410 S&P Mgmt. Co. Rent Exp.–Selling Space 642 2,968
Rent Exp.–Office Space 641 3,710 742
8 3411 Peyton Products. Peyton Products 6,174 126 6,300
15 3412 Payroll Sales Salaries Expense 621 5,320
Office Salaries Expense 620 8,470 3,150
(101) (119) () (201)
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GENERAL JOURNAL Page 2
May 2 Sales Returns and Allow. 414 175
Accounts Receivable—Knox, Inc. 106/175
Issued a credit memo for returns.