PROBLEM I-3B (Continued)
Santo Supply
Date
Explanation
Ref.
Debit
Balance
May 15
17
28
P1
G1
P1
100
900
800
1,300
Patek Company
Date
Explanation
Ref.
Debit
Balance
May 8
16
P1
P1
8,000
15,200
Zamora Company
Date
Explanation
Ref.
Debit
Balance
May 8
10
P1
G1
500
8,700
8,200
Anshus Advertising
Date
Explanation
Ref.
Debit
Balance
May 25
P1
900
Subsidiary account balances
Eder Company ………………………………………….. $2,200
Carny Bros. ………………………………………………. 4,600
PROBLEM I-3B (Continued)
Subsidiary account balances
Nyland Freight ………………………………………… $ 860
Wen Company ………………………………………… 11,300
Santo Supply ………………………………………….. 1,300
PROBLEM I-4B
(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.
Oct. 4
17
25
30
Deloy Co.
B. Seaton & Co.
Marco Corp.
B. Seaton & Co.
204
205
206
207
7,700
5,350
5,220
4,760
23,030
(112)(401)
5,390
3,745
3,654
3,332
16,121
(505)(120)
Purchases Journal P1
Date
Account Credited
Ref.
Inventory Dr.
Accounts Payable Cr.
Oct. 2
10
27
30
Barton Company
Gorman Corp.
Lisa Co.
Barton Company
13,500
3,500
8,500
14,000
39,500
(120)(201)
General Journal G1
Date
Accounts and Explanations
Ref.
Debit
Credit
Oct. 13
Accounts Payable—Gorman
Corp. ……………………………………….
Inventory ……………………………..
201/
120/
210
210
25
Supplies ………………………………………
Accounts Payable—
Lewis Co. …………………………
126/
201/
310
310
PROBLEM I-4B (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.
Oct. 7
12
14
16
21
25
28
Deloy Co.
Land
B. Seaton &
Co.
140
8,800
7,546
8,180
27,000
8,200
5,243
7,540
72,509
(101)
154
107
000
261
(414)
7,700
5,350
00
13,050
(112)
8,800
8,180
8,200
7,540
32,720
(401)
27,000
27,000
(X)
6,160
5,726
5,740
5,278
22,904
(505)(120)
Cash Payments Journal CP1
Date
Account Debited
Ref.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Merchandise
Inventory
Cr.
Cash
Cr.
Oct. 5
9
18
23
26
30
Supplies
Barton Co.
Inventory
Gorman Corp.
Land
Buildings
Advertising
Expense
126
120
140
145
610
80
2,450
21,000
14,000
400
37,930
(X)
13,500
3,290
16,790
(201)
270
270
(120)
80
13,230
2,450
3,290
35,000
400
54,450
(101)
PROBLEM I-5B
(b)
Purchases Journal P1
Date
Account Credited
Ref.
Inventory Dr.
Accounts Payable Cr.
Feb. 2
7
16
21
T. Wilkerson
B. Jenson
E. Olney
D. Hachey
4,600
30,000
2,400
7,800
44,800
(120)(201)
Cash Payments Journal CP1
Date
Account Debited
Ref.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Inventory
Cr.
Cash
Cr.
Feb. 9
12
15
17
20
28
Supplies
T. Wilkerson
Equipment
B. Jenson
Cash Dividends
E. Olney
126
157
332
1,120
7,000
1,100
9,220
(X)
4,600
30,000
2,400
37,000
(201)
138
300
438
(120)
1,120
4,462
7,000
29,700
1,100
2,400
45,782
(101)
(a), (d) & (g) General Ledger
Cash No. 101
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
28
CR1
CP1
47,495
45,782
47,495
1,713
PROBLEM I-5B (Continued)
Accounts Receivable No. 112
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
28
S1
CR1
27,400
12,000
27,400
15,400
Inventory No. 120
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
18
28
28
28
P1
CR1
CP1
S1
CR1
44,800
150
438
18,084
3,564
44,800
44,650
44,212
26,128
22,564
Supplies No. 126
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 9
28
Adjusting entry
CP1
G1
1,120
820
1,120
300
Equipment No. 157
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 15
CP1
7,000
7,000
Accumulated Depreciation—Equipment No. 158
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
Adjusting entry
G1
160
160
Accounts Payable No. 201
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
28
P1
CP1
37,000
44,800
44,800
7,800
PROBLEM I-5B (Continued)
Common Stock No. 311
Date
Explanation
Ref.
Debit
Balance
Feb. 1
CR1
30,000
Cash Dividends No. 332
Date
Explanation
Ref.
Debit
Balance
Feb. 20
CP1
1,100
1,100
Sales Revenue No. 401
Date
Explanation
Ref.
Debit
Balance
Feb. 28
28
S1
CR1
27,400
32,800
Sales Discounts No. 414
Date
Explanation
Ref.
Debit
Balance
Feb. 28
CR1
55
55
Cost of Goods Sold No. 505
Date
Explanation
Ref.
Debit
Balance
Feb. 28
28
S1
CR1
18,084
3,564
18,084
21,648
Supplies Expense No. 631
Date
Explanation
Ref.
Debit
Balance
Feb. 28
Adjusting entry
G1
820
820
Depreciation Expense No. 711
Date
Explanation
Ref.
Debit
Balance
Feb. 28
Adjusting entry
G1
160
160
PROBLEM I-5B (Continued)
(c) Accounts Receivable Subsidiary Ledger
S. Beltre
Date
Explanation
Ref.
Debit
Balance
Feb. 3
13
S1
CR1
5,500
5,500
0
V. Ciatti
Date
Explanation
Ref.
Debit
Balance
Feb. 12
S1
8,400
8,400
M. Hererra
Date
Explanation
Ref.
Debit
Balance
Feb. 9
26
S1
CR1
6,500
6,500
0
A. Dobbs
Date
Explanation
Ref.
Debit
Balance
Feb. 26
S1
7,000
7,000
Accounts Payable Subsidiary Ledger
D. Hachey
Date
Explanation
Ref.
Debit
Balance
Feb. 21
P1
7,800
T. Wilkerson
Date
Explanation
Ref.
Debit
Balance
Feb. 2
12
P1
CP1
4,600
4,600
0
PROBLEM I-5B (Continued)
B. Jenson
Date
Explanation
Ref.
Debit
Balance
Feb. 7
17
P1
CP1
30,000
30,000
0
E. Olney
Date
Explanation
Ref.
Debit
Balance
Feb. 16
28
P1
CP1
2,400
2,400
0
(e) VERMAN CO.
Trial Balance
February 28, 2015
Debit
Credit
Cash ……………………………………………………………
Accounts Receivable ……………………………………
Inventory …………………………………………………….
Supplies ……………………………………………………..
Equipment …………………………………………………..
Accounts Payable …………………………..……………
Common Stock …………………………..……………….
Cash Dividends ……………………………………………
Sales Revenue …………………………………………….
Sales Discounts …………………………………………..
Cost of Goods Sold ……………………………………..
$ 1,713
15,400
22,564
1,120
7,000
1,100
55
21,648
$70,600
$ 7,800
30,000
32,800
$70,600
PROBLEM I-5B (Continued)
(f) Accounts Receivable control account ……………. $15,400
Accounts Receivable subsidiary accounts
(g)
General Journal G1
Date
Accounts and Explanations
Ref.
Debit
Credit
Feb. 28
Supplies Expense ………………………..
Supplies ……………………………...
631
126
820
820
28
Depreciation Expense ………………….
Accumulated Depreciation—
Equipment ……………………….
711
158
160
160