23
The Voucher System
ANSWERS TO DISCUSSION QUESTIONS AND
CRITICAL THINKING/ETHICAL CASE
1. Payable to; invoice no. and amount; purchase order no.; verification slip and
3. Purchase order and other supporting documents.
5. Filing by due dates will help prevent discounts from being missed.
7. The unpaid file voucher really does away with the need for the subsidiary
ledger.
8. Disagree. Vouchers may be cancelled if later there is a Purchase Return or
10. The question in this case is whether Joe should have the responsibility of
writing the checks from the check register. Although Joe is an honest person,
SOLUTIONS TO CONCEPT CHECKS
Date
Accounts
Dr.
Cr.
1.
Jan. 7
Purchases
700
Vouchers Payable, Curik Co.
700
Vouchers Payable
Vouchers Payable, Curik Co.
700
Purchases Discount
2.
Mar. 11
Petty Cash
170
Vouchers Payable
170
23
Supplies Expense
3.
Nov. 15
Purchases
750
Vouchers Payable, Rowe Co.
750
Solution assumes old voucher altered:
Purchases Returns and Allowances
Alternative solution if new voucher prepared:
4.
Aug. 6
Equipment
1,300
Vouchers Payable, Lane Co.
1,300
11
Vouchers Payable, Lane Co.
1,300
5.a
Sept. 3
Purchases
8,000
Vouchers Payable, Fisher Co.
8,000
18
Vouchers Payable, Fisher Co.
8,000
Cash
8,000
Vouchers Payable, Fisher Co.
7,280
Vouchers Payable, Fisher Co.
7,280
SOLUTIONS TO SET A EXERCISES
23A–1.
201X
May
3
Purchases
6
7
0
0
00
Vouchers Payable, Mark Co.
6
7
0
0
00
6
Equipment
4
1
0
0
Vouchers Payable
4
1
0
0
00
12
Vouchers Payable
4
1
0
0
Equipment
1
2
3
00
Cash
3
9
7
7
00
17
Vouchers Payable, Mark Co.
6
7
0
0
Cash
6
7
0
0
00
23A–2.
201X
Aug.
3
Purchases
4
5
0
00
Vouchers Payable, Greely Co.
4
5
0
00
5
Petty Cash
1
0
5
Vouchers Payable
1
0
5
00
7
Vouchers Payable, Greely Co.
4
5
0
Purchases Discount
9
00
Cash
4
4
1
00
11
Vouchers Payable
1
0
5
Cash
1
0
5
00
Supplies Expense
2
5
Delivery Expense
2
9
Vouchers Payable
5
4
00
EXERCISES (CONTINUED)
23A–3.
201X
Nov.
10
Purchases
1
0
0
0
00
Vouchers Payable, Beverly Co.
1
0
0
0
00
If alter original voucher:
Vouchers Payable, Beverly Co.
5
7
0
Purchases Returns and Allowances
5
7
0
00
Alternative solution: If issue new voucher:
Vouchers Payable, Beverly Co.
1
0
0
0
5
7
0
00
4
3
0
00
23A–4.
201X
Aug.
15
Equipment
9
3
0
00
Vouchers Payable
9
3
0
Vouchers Payable
9
3
0
Vouchers Payable
4
6
5
Vouchers Payable
4
6
5
23A–5.
(a)
201X
May
7
Purchases
9
0
0
0
00
Vouchers Payable, Hubley Corp.
9
0
0
0
00
Vouchers Payable, Hubley Corp.
9
0
0
0
Cash
9
0
0
0
00
(b)
7
Purchases
8
8
2
0
00
Vouchers Payable, Hubley Corp.
8
8
2
0
00
Vouchers Payable, Hubley Corp.
8
8
2
0
Discount Lost
1
8
0
9
0
0
0
00
201X
SOLUTIONS TO SET B EXERCISES
23B–1.
201X
June
7
Purchases
7
4
0
0
00
Vouchers Payable, Nathan Co.
7
4
0
0
00
10
Equipment
3
7
0
0
Vouchers Payable
3
7
0
0
00
16
Vouchers Payable
3
7
0
0
Equipment
1
4
8
00
Cash
3
5
5
2
00
Vouchers Payable, Nathan Co.
7
4
0
0
Cash
7
4
0
0
00
23B–2.
201X
May
11
Purchases
9
0
0
00
Vouchers Payable, Green Co.
9
0
0
00
Petty Cash
7
0
Vouchers Payable
7
0
00
Vouchers Payable, Green Co.
9
0
0
Purchases Discount
1
8
00
Cash
8
8
2
00
Vouchers Payable
7
0
Cash
7
0
00
Supplies Expense
1
8
Delivery Expense
2
3
Vouchers Payable
4
1
00
EXERCISES (CONTINUED)
23B–3.
201X
Nov.
10
Purchases
1
0
2
0
00
Vouchers Payable, Gardner Co.
1
0
2
0
00
If alter original voucher:
Vouchers Payable, Gardner Co.
5
6
0
Purchases Returns and Allowances
5
6
0
00
Alternative solution: If issue new voucher
Vouchers Payable, Gardner Co.
1
0
2
0
5
6
0
00
4
6
0
00
23B–4.
201X
Jun.
15
Equipment
8
7
0
00
Vouchers Payable
8
7
0
Vouchers Payable
8
7
0
Vouchers Payable
4
3
5
Vouchers Payable
4
3
5
23B–5.
(a)
201X
Aug.
12
Purchases
9
5
0
0
00
Vouchers Payable, Kable Corp.
9
5
0
0
00
Vouchers Payable, Kable Corp.
9
5
0
0
Cash
9
5
0
0
00
(b)
201X
Aug.
12
Purchases
9
3
1
0
00
9
3
Vouchers Payable, Kable Corp.
9
3
Discount Lost
1
9
9
5
SOLUTIONS TO SET A PROBLEMS
PROBLEM 23A-1
Sundry Accounts
Cr.
PR
Account
Office Equip.
Petty Cash
Office
Supplies
Supplies Exp.
Postage Exp.
00
00
00
00
00
1
Check
No.
Date of
Payment
Payable
to
Takala Corp.
Petty Cash
Scott Corp.
Lian Corp.
Cash
Date
201X
8
12
14
15
29
June
PROBLEM 23A-2
00
00
00
00
PAGE 9
Sundry Accounts
Cr.
PR
Account
Rent Expense
Office Equip.
Check
No.
91
92
93
Date of
Payment
7/15
7/18
7/30
Payable
to
Daisy Co.
Hank Co.
Lacy Realty
Lydie Co.
Voucher
Number
280
281
282
283
Date
201X
5
8
29
30
July
PROBLEM 23A-2 (CONCLUDED)
SABIN CORPORATION
CHECK REGISTER
Date
201X
Check
No.
Payable to
Voucher
No.
Vouchers
Payable
Dr.
Purchases
Discount
Cr.
Cash
Cr.
July
Daisy Co.
2
1
2
0
Hank Co.
8
2
5
5
6
2
6
PROBLEM 23A-3
Sundry Accounts
PR
Account
Vouchers Payable
Purch. Ret. + Allow.
Check
No.
76
75
77
Date of
Payment
9/10
9/8
cancelled
9/20
Payable
to
Rocco Corp.
Raine Corp.
Lani Corp.
Lani Corp.
Voucher
Number
68
69
70
71
Date
201X
1
5
14
17
Sept.
PROBLEM 23A-3 (CONCLUDED)
JACE CORPORATION
CHECK REGISTER
Date
201X
Check
No.
Payable to
Voucher
No.
Vouchers
Payable
Dr.
Purchases
Discount
Cr.
Cash
Cr.
Sept.
8
75
Raine Corp.
69
7
2
0
0
00
1
4
4
00
7
0
5
6
00
10
76
Rocco Corp.
68
6
4
0
0
00
1
2
8
00
6
2
7
2
00
20
77
Lani Corp.
71
5
6
0
0
00
1
1
2
00
5
4
8
8
00
PROBLEM 23A-4
THE SIKES COMPANY
VOUCHER REGISTER
9
0
Sundry Accounts
Sundry Accounts
PR
Account
Freight–in
Office Supplies
Office Equipment
Vouchers Payable
Purch. Ret. + Allow.
00
00
00
Vouchers
Payable
4
5
5
6
2
1
Check
No.
630
632
631
633
634
Date of
Payment
10/8
10/12
10/12
10/25
Cancelled
10/29
Payable
to
Roland Co.
Labaro Co.
Macaskill Co.
Herm Co.
Herm Co.
Lou Corp.
Karl Co.
Karl Co.
Voucher
Number
500
501
502
503
504
505
506
507
Date
201X
1
2
3
10
10
18
20
27
Oct.
PROBLEM 23A-4 (CONCLUDED)
THE SIKES COMPANY
CHECK REGISTER
Date
201X
Check
No.
Payable to
Voucher
No.
Vouchers
Payable
Dr.
Purchases
Discount
Cr.
Cash
Cr.
Oct.
8
630
Roland Co.
500
4
0
0
0
00
8
0
00
3
9
2
0
00
631
Herm Co.
503
5
4
5
0
00
5
4
5
0
00
12
632
Labaro Co.
501
2
9
0
00
2
9
0
00
29
634
Karl Co.
507
1
6
5
0
00
3
3
00
1
6
1
7
00
SOLUTIONS TO SET B PROBLEMS
PROBLEM 23B-1
Office Equip.
Petty Cash
Supplies Exp.
Postage Exp.
00
00
00
00
00
Sundry Accounts
Cr.
PR
Account
Check
No.
Date of
Payment
Payable
to
Taffy Corp.
Petty Cash
Seko Corp.
Longview
Corp.
Cash
Voucher
Number
300
301
302
303
304
Date
201X
8
12
14
15
29
June
PROBLEM 23B-2
00
00
00
00
1
6
2
Sundry Accounts
Cr.
PR
Account
Rent Expense
Office Equip.
Check
No.
91
92
93
Date of
Payment
7/15
7/18
7/30
Payable
to
Dara Co.
Hart Co.
Leah Realty
Lynna Co.
Voucher
Number
280
281
282
283
Date
201X
5
8
29
30
July
PROBLEM 23B-2 (CONCLUDED)
SAIDI CORPORATION
CHECK REGISTER
Date
201X
Check
No.
Payable to
Voucher
No.
Vouchers
Payable
Dr.
Purchases
Discount
Cr.
Cash
Cr.
July
Dara Co.
6
1
1
4
Hart Co.
6
4
6
1
0
2
0
PROBLEM 23B-3
Vouchers Payable
Purch. Ret. + Allow.
0
0
0
00
00
00
00
8
4
1
0
Sundry Accounts
PR
Account
Check
No.
76
75
77
Date of
Payment
9/10
9/8
Cancelled
9/20
Payable
to
River Corp.
Reed Corp.
Lucy Corp.
Lucy Corp.
Voucher
Number
68
69
70
71
Date
201X
1
5
14
17
Sept.
PROBLEM 23B-3 (CONCLUDED)
JOIE CORPORATION
CHECK REGISTER
Date
201X
Check
No.
Payable to
Voucher
No.
Vouchers
Payable
Dr.
Purchases
Discount
Cr.
Cash
Cr.
Sept.
Reed Corp.
4
2
7
1
River Corp.
8
2
6
5
Lucy Corp.
0
1
5
8
Dr.
PROBLEM 23B-4
THE SWELLON COMPANY
VOUCHER REGISTER
PR
Sundry Accounts
Account
Freight–in
Office Supplies
Office Equipment
Vouchers Payable
Purch. Ret. + Allow.
Vouchers
Payable
3
4
4
6
2
1
Check
No.
640
642
641
643
644
Date of
Payment
12/8
12/12
12/12
12/25
Cancelled
12/29
Payable
to
Rodney Co.
Labatt Co.
Marsha Co.
Hanks Co.
Hanks Co.
Lenny Corp.
Kull Co.
Kull Co.
Voucher
Number
250
251
252
253
254
255
256
257
Date
201X
1
2
3
10
10
18
20
27
Dec.
PROBLEM 23B-4 (CONCLUDED)
THE SWELLON COMPANY
CHECK REGISTER
Date
201X
Check
No.
Payable to
Voucher
No.
Vouchers
Payable
Dr.
Purchases
Discount
Cr.
Cash
Cr.
Dec.
8
640
Rodney Co.
250
3
6
0
0
00
7
2
00
3
5
2
8
00
12
641
253
4
9
0
0
00
4
9
0
0
00
12
642
Labatt Co.
251
3
3
0
00
3
3
0
00
29
644
Kull Co.
257
1
7
5
0
00
3
5
00
1
7
1
5
00
FINANCIAL REPORT PROBLEM SOLUTION—Reading Amazon’s Annual
Report