PROBLEM 7-3C (Continued)
Supplies No. 126
Date
Explanation
Ref.
Debit
Credit
Balance
May 15
P1
900
900
Equipment No. 157
Date
Explanation
Ref.
Debit
Credit
Balance
May 28
P1
500
500
Accounts Payable No. 201
Date
Explanation
Ref.
Debit
Credit
Balance
100
May 31
10
P1
G1
500
39,060
39,060
38,560
Sales Revenue No. 401
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
S1
12,180
12,180
Sales Returns and Allowances No. 412
Date
Explanation
Ref.
Debit
Credit
Balance
Cost of Goods Sold No. 505
Date
Explanation
Ref.
Debit
Credit
Balance
May 31
S1
7,917
7,917
Advertising Expense No. 610
Date
Explanation
Ref.
Debit
Credit
Balance
May 25
P1
900
900
PROBLEM 7-3C (Continued)
Accounts Receivable Subsidiary Ledger
Lane Company
Date
Explanation
Ref.
Debit
Credit
Balance
200
4,900
May 5
S1
1,500
1,500
May Company
Date
Explanation
Ref.
Debit
Credit
Balance
May 5
S1
1,980
1,980
Stein Bros.
Date
Explanation
Ref.
Debit
Credit
Balance
Accounts Payable Subsidiary Ledger
Kwik Freight
Date
Explanation
Ref.
Debit
Credit
Balance
May 3
18
P1
P1
360
500
360
860
Wilkins Company
Date
Explanation
Ref.
Debit
Credit
Balance
P1
300
7,500
7,500
PROBLEM 7-3C (Continued)
Camile Supply
Date
Explanation
Ref.
Debit
Credit
Balance
May 15
P1
900
900
Wen Company
Date
Explanation
Ref.
Debit
Credit
Balance
May 8
P1
8,000
8,000
Allan Company
Date
Explanation
Ref.
Debit
Credit
Balance
Brooster Advertising
Date
Explanation
Ref.
Debit
Credit
Balance
May 25
P1
900
900
(c) Accounts receivable balance ……………………………. $11,980
PROBLEM 7-3C (Continued)
Subsidiary account balances
PROBLEM 7-4C
(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
Carey Co.
H. Witten & Co.
204
205
8,200
5,350
5,740
3,745
Purchases Journal P1
Date
Account Credited
Ref.
Inventory Dr.
Accounts Payable Cr.
Oct. 2
Seibel Company
18,500
General Journal G1
Date
Accounts and Explanations
Ref.
Debit
Credit
Oct. 13
Accounts Payable—Monaghan
Corp. ……………………………………….
Inventory ……………………………..
201
120/
210
210
Supplies ………………………………………
Accounts Payable—
PROBLEM 7-4C (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
Carey Co.
9,160
8,036
164
8,200
9,160
6,412
Cash Payments Journal
CP1
Date
Account Debited
Ref.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Inventory
Cr.
Cash
Cr.
Oct. 5
9
18
Supplies
Seibel Co.
Inventory
126
120
80
2,125
18,500
370
80
18,130
2,125
PROBLEM 7-5C
(b)
Purchases Journal P1
Date
Account Credited
Ref.
Inventory Dr.
Accounts Payable Cr.
Feb. 2
7
J. Webster
P. Knotts
4,600
30,000
Cash Payments Journal CP1
Date
Account Debited
Ref.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Inventory
Cr.
Cash
Cr.
Feb. 9
12
Supplies
J. Webster
126
1,250
4,600
92
1,250
4,508
(a), (d)&(g) General Ledger
Cash No. 101
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
CR1
48,595
48,595
PROBLEM 7-5C (Continued)
Accounts Receivable No. 112
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
S1
27,000
27,000
Inventory No. 120
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
18
P1
CR1
44,800
150
44,800
44,650
Supplies No. 126
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 9
CP1
1,250
1,250
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
Accounts Payable No. 201
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
P1
44,800
44,800
PROBLEM 7-5C (Continued)
Owner’s Capital No. 301
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 1
CR1
30,000
30,000
Owner’s Drawings No. 306
Date
Explanation
Ref.
Debit
Credit
Balance
Date
Explanation
Ref.
Credit
Balance
Sales Discounts No. 414
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
CR1
55
55
Cost of Goods Sold No. 505
Date
Explanation
Ref.
Debit
Credit
Balance
Supplies Expense No. 631
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 28
Adjusting entry
G1
950
950
Depreciation Expense No. 711
Date
Explanation
Ref.
Debit
Credit
Balance
PROBLEM 7-5C (Continued)
(c) Accounts Receivable Subsidiary Ledger
S. Adkins
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 3
S1
5,500
5,500
C. Budd
Date
Explanation
Ref.
Debit
Credit
Balance
Date
Explanation
Ref.
Debit
Credit
Balance
M. Dunne
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 26
S1
7,000
7,000
Accounts Payable Subsidiary Ledger
G. Sigel
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 21
P1
7,800
7,800
J. Webster
Date
Explanation
Ref.
Debit
Credit
Balance
4,600
4,600
PROBLEM 7-5C (Continued)
P. Knotts
Date
Explanation
Ref.
Debit
Credit
Balance
J. Mckay
Date
Explanation
Ref.
Debit
Credit
Balance
Feb. 16
P1
2,400
2,400
(e) WINSOR CO.
Trial Balance
February 28, 2017
Debit
Credit
Cash …………………………………………………………..
Accounts Receivable ……………………………………
$ 2,637
15,000
PROBLEM 7-5C (Continued)
(f) Accounts Receivable control account ……………. $15,000
(g)
General Journal G1
Date
Accounts and Explanations
Ref.
Debit
Credit
Feb. 28
Supplies Expense ………………………..
Supplies ……………………………..
631
126
950
950
PROBLEM 7-5C (Continued)
(h) WINSOR CO.
Adjusted Trial Balance
February 28, 2017
Debit
Credit
Cash …………………………………………………………..
Accounts Receivable ……………………………………
$ 2,637
15,000