PROBLEM I-3A (Continued)
General Journal G1
Date
Accounts and Explanations
Ref.
Debit
July 8
Accounts Payable—Langer
Company ………………………………..
Inventory …………………………….
201/
120/
300
22
Sales Returns and Allowances
Accounts Receivable—
Dayley Company ……………..
412/
112/
65
(b) General Ledger
Accounts Receivable No. 112
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
22
S1
G1
17,030
65
17,030
16,965
Inventory No. 120
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
8
31
P1
G1
S1
21,480
300
11,921
21,480
21,180
9,259
Supplies No. 126
Date
Explanation
Ref.
Debit
Credit
Balance
July 13
P1
910
910
PROBLEM I-3A (Continued)
Equipment No. 157
Date
Explanation
Ref.
Debit
Credit
Balance
July 26
P1
900
900
Accounts Payable No. 201
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
8
P1
G1
300
23,890
23,890
23,590
Sales Revenue No. 401
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
S1
17,030
17,030
Sales Returns and Allowances No. 412
Date
Explanation
Ref.
Debit
Credit
Balance
July 22
G1
65
65
Cost of Goods Sold No. 505
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
S1
11,921
11,921
Advertising Expense No. 610
Date
Explanation
Ref.
Debit
Credit
Balance
July 18
P1
600
600
PROBLEM I-3A (Continued)
Accounts Receivable Subsidiary Ledger
Orsen Bros.
Date
Explanation
Ref.
Debit
Credit
Balance
July 3
16
S1
S1
2,000
1,570
2,000
3,570
Dayley Company
Date
Explanation
Ref.
Debit
Credit
Balance
July 3
21
22
S1
S1
G1
1,300
310
65
1,300
1,610
1,545
Gentry Company
Date
Explanation
Ref.
Debit
Credit
Balance
July 16
30
S1
S1
3,450
5,600
3,450
9,050
Musky Company
Date
Explanation
Ref.
Debit
Credit
Balance
July 21
S1
2,800
2,800
Accounts Payable Subsidiary Ledger
Abel Supply
Date
Explanation
Ref.
Debit
Credit
Balance
July 13
26
P1
P1
910
900
910
1,810
PROBLEM I-3A (Continued)
Rensing Shipping
Date
Explanation
Ref.
Debit
Credit
Balance
July 2
28
P1
P1
400
380
400
780
Dent Company
Date
Explanation
Ref.
Debit
Credit
Balance
July 1
15
P1
P1
7,600
3,600
7,600
11,200
Langer Company
Date
Explanation
Ref.
Debit
Credit
Balance
July 5
8
24
P1
G1
P1
300
3,200
3,000
3,200
2,900
5,900
Wei Advertisements
Date
Explanation
Ref.
Debit
Credit
Balance
July 18
P1
600
600
Goran Company
Date
Explanation
Ref.
Debit
Credit
Balance
July 15
P1
3,300
3,300
PROBLEM I-3A (Continued)
(c) Accounts receivable balance …………………………... $16,965
Subsidiary account balances
Orsen Bros. …………………………………………….. $ 3,570
Dayley Company ……………………………………… 1,545
Subsidiary account balances
Abel Supply …………………………………………….. $ 1,810
Rensing Shipping …………………………………….. 780
PROBLEM I-4A
(a), (b) & (c)
Sales Journal S1
Date
Account
Debited
Invoice
No.
Ref.
Accounts Receivable Dr.
Sales Revenue Cr.
Cost of Goods Sold Dr.
Inventory Cr.
Jan. 4
9
17
31
Gant
Notson Corp.
Loeb Co.
Gant
371
372
373
374
5,600
6,400
1,200
9,330
22,530
(112)(401)
3,360
3,840
720
5,598
13,518
(505)(120)
Purchases Journal P1
Date
Account Credited
Ref.
Inventory Dr.
Accounts Payable Cr.
Jan. 3
8
11
23
24
Quayle Co.
Eubank Co.
Akers Co.
Quayle Co.
Fifer Corp.
10,000
4,500
3,700
7,800
5,100
31,100
(120)(201)
General Journal G1
Date
Accounts and Explanations
Ref.
Debit
Credit
Jan. 5
Accounts Payable—Quayle Co. ………..
Inventory ……………………………..
201/
120
300
300
19
Equipment ……………………………………
Accounts Payable—Barb
Corp. ………………………………..
157/
201/
5,500
5,500
PROBLEM I-4A (Continued)
Cash Receipts Journal CR1
Date
Account
Credited
Ref.
Cash
Dr.
Sales
Discounts
Dr.
Accounts
Receivable
Cr.
Sales
Revenue
Cr.
Other
Accounts
Cr.
Cost of Goods Sold
Dr.
Inventory
Cr.
Jan. 6
13
15
17
20
27
30
Notson Corp.
Gant
Loeb Co.
3,750
6,260
6,336
5,600
3,200
4,230
1,200
30,576
(101)
64
64
(414)
6,400
5,600
1,200
13,200
(112)
3,750
6,260
3,200
4,230
17,440
(401)
0
(X)
2,250
3,756
1,920
2,538
10,464
(505)(120)
Cash Payments Journal CP1
Date
Account Debited
Ref.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Inventory
Cr.
Cash
Cr.
Jan. 4
13
15
20
31
Supplies
Quayle Co.
Salaries and
Wages Expense
Eubank Co.
Salaries and
Wages Expense
126
726
726
80
14,300
14,300
28,680
(X)
9,700
4,500
14,200
(201)
194
90
284
(120)
80
9,506
14,300
4,410
14,300
42,596
(101)
PROBLEM I-5A
(a), (d) & (g) General Ledger
Cash No. 101
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
31
CR1
CP1
101,765
38,766
101,765
62,999
Accounts Receivable No. 112
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
31
S1
CR1
20,100
15,100
20,100
5,000
Inventory No. 120
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
29
31
31
31
P1
CR1
CP1
S1
CR1
43,720
450
234
13,065
4,095
43,720
43,270
43,036
29,971
25,876
Supplies No. 127
Date
Explanation
Ref.
Debit
Credit
Balance
July 4
31
Adjusting entry
CP1
G1
600
430
600
170
Prepaid Rent No. 131
Date
Explanation
Ref.
Debit
Credit
Balance
July 11
31
Adjusting entry
CP1
G1
6,000
500
6,000
5,500
PROBLEM I-5A (Continued)
Accounts Payable No. 201
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
31
P1
CP1
29,900
43,720
43,720
13,820
Common Stock No. 311
Date
Explanation
Ref.
Debit
Credit
Balance
July 1
CR1
80,000
80,000
Cash Dividends No. 332
Date
Explanation
Ref.
Debit
Credit
Balance
July 19
CP1
2,500
2,500
Sales Revenue No. 401
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
31
S1
CR1
20,100
6,300
20,100
26,400
Sales Discounts No. 414
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
CR1
85
85
Cost of Goods Sold No. 505
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
31
S1
CR1
13,065
4,095
13,065
17,160
PROBLEM I-5A (Continued)
Supplies Expense No. 631
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
Adjusting entry
G1
430
430
Rent Expense No. 729
Date
Explanation
Ref.
Debit
Credit
Balance
July 31
Adjusting entry
G1
500
500
(b)
Sales Journal S1
Date
Account Debited
Ref.
Accounts Receivable Dr.
Sales Revenue Cr.
Cost of Goods Sold Dr.
Inventory Cr.
July 6
8
10
21
Edwards Co.
Carmoni
L. Nunez
M.Putzi
6,600
3,600
4,900
5,000
20,100
(112)(401)
4,290
2,340
3,185
3,250
13,065
(505)(120)
Cash Receipts Journal CR1
Date
Account
Credited
Ref.
Cash
Dr.
Sales
Discounts
Dr.
Accounts
Receivable
Cr.
Sales
Revenue
Cr.
Other
Accounts
Cr.
Cost of Goods Sold
Dr.
Inventory
Cr.
July 1
7
13
16
20
29
Common
Stock
Carmoni
L. Nunez
Edwards Co.
Inventory
311
120
80,000
6,300
3,564
4,851
6,600
450
101,765
(101)
36
49
85
(414)
3,600
4,900
6,600
15,100
(112)
6,300
6,300
(401)
80,000
450
80,450
(X)
4,095
4,095
(505)(120)