CHAPTER 5 Accounting Systems
Prob. 5-5A (Continued)
Account No. 63
Post.
Item Ref. Debit Credit Debit Credit
20 CP34 2,230 2,230
Account No. 64
Account: Advertising Expense
Account: Miscellaneous Administrative Expense
Balance
Date
Dec.
CHAPTER 5 Accounting Systems
Prob. 5-5A (Continued)
2. and 4.
Page 37
Dec. 5 18 46,700
616 5,630
Page 31
Dec. 3 Ryan Co. 6,010
10 Sing Co. 5,060
12 Clifford Co. 2,180
6,010
5,060
2,180
Account Credited
Other
Accounts
Cr.
Accounts
Receivable
Cr.
Cash
Dr.
CASH RECEIPTS JOURNAL
PURCHASES JOURNAL
Date
Post.
Ref.
Accounts
Payable
Cr.
46,700
5,630
Date
Account Credited
Platinum Motors
Austin Computer Co.
Post.
Ref.
Amount
Maintenance
Supplies
Dr.
Post.
Ref.
Office
Supplies
Dr.
Other
Accounts
Dr.
Vehicles
Office Equipment
CHAPTER 5 Accounting Systems
Prob. 5-5A (Continued)
2. and 4.
Page 35
2 940 Clifford Co.
6 941 Ernesto Co.
Page 34
1 610 Rent Expense 62 5,260
9 611 Fuel Expense 53 750
10 612 Office To Go Inc. 410 410
11 613 Essential Supply Co. 3,870 3,870
11 614 Porter Co. 630 630
13 615 Platinum Motors 46,700 46,700
16 616 Vehicles 18 49,830
17 617 Misc. Admin. Expense 64 630
Account Debited
REVENUE JOURNAL
Date
CASH PAYMENTS JOURNAL
Accounts
Payable
Dr.
2,180
Invoice
No.
Account Debited
Cash
Cr.
Other
Accounts
Dr.
4,850
Accounts Rec. Dr.
Fees Earned Cr.
Post.
Ref.
Date
Dec.
Post.
Ref.
Ck.
No.
750
630
Dec. 5,260
49,830
CHAPTER 5 Accounting Systems
Prob. 5-5A (Concluded)
3. Page 1
Dec. 20 Maintenance Supplies Expense 52 4,010
Maintenance Supplies 14 4,010
5.
Account Debit Credit
No. Balances Balances
Cash 11 119,710
Accounts Receivable 12 21,880
Maintenance Supplies 14 13,640
Office Supplies 15 7,530
Office Equipment 16 41,310
Accumulated Depreciation—Office Equipment 17 8,640
Vehicles 18 216,600
Accumulated Depreciation—Vehicles 19 18,400
JOURNAL
Date Description
Post.
Ref.
December 31
Debit Credit
Fleetfoot Courier Company
Unadjusted Trial Balance
CHAPTER 5 Accounting Systems
Prob. 5-1B
1. and 2.
Page 1
Jan. 18 1 Murphy Co.
20 2 Qwik-Mart Co.
Page 1
Jan. 28 Supplies 14 100
Fees Earned 41 100
REVENUE JOURNAL
Account Debited
Post.
Ref.
Description
Date
Debit Credit
JOURNAL
340
Date
Post.
Ref.
490
Accounts Rec. Dr.
Fees Earned Cr.
Invoice
No.
CHAPTER 5 Accounting Systems
Prob. 5-1B (Continued)
Post.
Item Ref. Debit Credit Balance
Jan. 27 R1 680 680
31 R1 295 1,045
Post.
Item Ref. Debit Credit Balance
Jan. 18 R1 490 490
Qwik-Mart Co.
Name: Murphy Co.
Date
Name:
Hopkins Co.
Amber Waves Co.
Name:
Name:
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Name: Carson Co.
Date
CHAPTER 5 Accounting Systems
Prob. 5-1B (Concluded)
Account No. 12
31 R1 2,875 2,875
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
28 J1 100 100
Account No. 41
3. a. $2,875 ($120 + $680 + $1,045 + $490 + $540)
b. $2,875
4. The computerized system is more efficient. Each sales transaction is entered into
an electronic invoice form. The postings to the accounts receivable subsidiary and
GENERAL LEDGER
Account: Fees Earned
Jan.
Accounts Receivable
Account:
Account: Supplies
Jan.
Balance
Date
CHAPTER 5 Accounting Systems
Prob. 5-2B
1. and 5.
Account No. 11
Post.
Item Ref. Debit Credit Debit Credit
June 1 Balance 28,340
30 CR36 14,320 42,660
Account No. 12
Account No. 18
Post.
Item Ref. Debit Credit Debit Credit
June 1 Balance 53,620
30 J1 2,780 56,400
Account No. 41
Account: Office Equipment
Balance
Date
GENERAL LEDGER
Account: Fees Earned
Accounts Receivable
Account:
Account: Cash
Balance
Date
CHAPTER 5 Accounting Systems
Prob. 5-2B (Continued)
2. and 4.
Post.
Item Ref. Debit Credit Balance
June 1 Balance 2,580
3 CR36 2,580 —
23 R40 1,330 1,330
Post.
Item Ref. Debit Credit Balance
June 10 R40 4,390 4,390
30 J1 2,780 1,610
Name: Ridge Communities
Date
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Name: Cooper Development Co.
Name: Yee Co.
Date
Auto-Flex Co.
Name:
CHAPTER 5 Accounting Systems
Prob. 5-2B (Continued)
3., 4., and 5.
Page 40
2 717 Yee Co.
7 718 Cooper Development Co.
Page 36
3 Auto-Flex Co. 2,580
14 Cooper Development Co. 1,510
Page 1
Date
Description
Fees
Earned
Cr.
2,580
1,510
JOURNAL
Post.
Ref. CreditDebit
Cash
Dr.
Accts.
Rec.
Cr.
Post.
Ref.
Account Credited
CASH RECEIPTS JOURNAL
June
Date
REVENUE JOURNAL
Account Debited
1,040
Accounts Rec. Dr.
Fees Earned Cr.
Invoice
No.
Date
Post.
Ref.
2,210
June
CHAPTER 5 Accounting Systems
Prob. 5-2B (Concluded)
6. The sum of the customer balances is in agreement with the controlling account.
Both have balances of $3,560 ($1,330 + $620 + $1,610).
7. In an automated system, individual sales transactions are posted automaticall
y
to the general ledger at the time of the original transaction. Thus, there is no
CHAPTER 5 Accounting Systems
Prob. 5-3B
1. and 4.
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
May 1 Balance 6,200
31 P30 16,900 23,100
Account No. 15
Account No. 18
Post.
Item Ref. Debit Credit Debit Credit
May 1 Balance 19,400
19 P30 8,150 27,550
Account No. 21
GENERAL LEDGER
Account: Accounts Payable
Office Supplies
Account:
Account: Field Supplies
Balance
Date
Account: Office Equipment
Balance
Date
CHAPTER 5 Accounting Systems
Prob. 5-3B (Continued)
2. and 3.
Post.
Item Ref. Debit Credit Balance
May 1 Balance 730
15 P30 500 1,230
26 P30 265 1,495
Post.
Item Ref. Debit Credit Balance
May 8 P30 4,500 4,500
23 P30 2,450 6,950
30 P30 3,040 9,990
Name: Lassiter Co.
Name: Wendell Co.
Date
Name: Tri Cities Supplies
Date
Accu-Vision Supply Co.
Name:
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
Name: J-Mart Co.
CHAPTER 5 Accounting Systems
Prob. 5-3B (Concluded)
3. and 4.
Page 30
May 1 3,240 3,240
3340 340
84,500 4,500
12 3,670 3,670
5. a. $31,300 ($12,050 + $1,495 + $855 + $9,990 + $6,910)
b. $31,300
PURCHASES JOURNAL
Field
Supplies
Dr.
Tri Cities Supplies
Wendell Co.
Account Credited
Wendell Co.
Lassiter Co.
Post.
Ref.
Date
Accounts
Payable
Cr.
Office
Supplies
Dr.
Other
Accounts
Dr.
Post.
Ref.
Amount
CHAPTER 5 Accounting Systems
Prob. 5-4B
1., 2., and 3.
Page 1
16 32,600 Field Equipment 17 32,600
17 9,780 9,780
20 1,320 1,320
Accounts
Payable
Cr.
Office
Supplies
Dr.
Other
Accounts
Dr.
Post.
Ref.
Amount
Date
PURCHASES JOURNAL
Field
Supplies
Dr.
A-One Office Supply Co.
Account Credited
Petro Services Inc.
Midland Supply Co.
Post.
Ref.
Oct.
CHAPTER 5 Accounting Systems
Prob. 5-4B (Continued)
1. and 2.
Page 1
Oct. 31 Prepaid Rent 16 15,000
Field Equipment 17 15,000
1., 2., and 3.
Page 1
Oct. 16 1 Rent Expense 71 7,000
18 2 Field Supplies 14 4,570
Cash
Cr.
Accounts
Payable
Dr.
Debit
CASH PAYMENTS JOURNAL
Description Credit
Date
Post.
Ref.
JOURNAL
Date
Post.
Ref.
4,570
Ck.
No.
Account Debited
Other
Accounts
Dr.
7,000