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Comprehensive Problem, cont.
Requirements 1 and 3, cont.
Insurance Expense
No. 516
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
0
Subsidiary Ledgers
Accounts Receivable—Finnish Co.
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
2,200
Aug. 4
CR.11
2,200
0
Aug. 23
S.4
9,966
9,966
Comprehensive Problem, cont.
Requirements 1 and 3, cont.
Accounts Receivable—K.D. Statesman
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
8,770
Aug. 7
S.4
2,400
11,170
24
CR.11
4,385
6,785
Accounts Payable—Goodman Inc.
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
0
Aug. 3
P.8
1,400
1,400
11
CP.5
1,400
0
Comprehensive Problem, cont.
Requirements 2 and 3
Sales Journal
Page 4
Date
Invoice
No.
Customer
Account Debited
Post.
Ref.
Accounts Receivable
DR
Cost of Goods Sold
DR
Sales Revenue
CR
Merchandise Inventory
CR
Comprehensive Problem, cont.
Requirements 2 and 3, cont.
Cash Receipts Journal
Page 11
Date
Account Credited
Post.
Ref.
Cash
DR
Sales
Discounts
DR
Accounts
Receivable
CR
Sales
Revenue
CR
Other
Accounts
CR
Cost of
Goods Sold
DR
Merchandise
Inventory
CR
Aug. 4
Finnish Co.
✓
2,156
44
2,200
Comprehensive Problem, cont.
Requirements 2 and 3, cont.
Purchases Journal
Page 8
Date
Vendor
Account Credited
Terms
Post.
Ref.
Accounts
Payable
CR
Merchandise
Inventory
DR
Office
Supplies
DR
Other Accounts DR
Account
Title
Post.
Ref.
Amount
Aug. 3
Goodman Inc.
1/15, n/60
✓
1,400
1,400
Comprehensive Problem, cont.
Requirements 2 and 3, cont.
Cash Payments Journal
Page 5
Date
Ck.
No.
Account Debited
Post.
Ref.
Other
Accounts
DR
Accounts
Payable
DR
Merchandise
Inventory
CR
Cash
CR
Aug. 1
682
Rent Expense
513
2,000
2,000
2
683
Salaries Payable
204
1,250
1,250
Comprehensive Problem, cont.
Requirements 2 and 3, cont.
General Journal Page 9
Date
Accounts and Explanation
Post.
Ref.
Debit
Credit
Aug. 5
Sales Returns and Allowances
403
550
Requirement 4
QUICK NETWORKING SYSTEMS
Unadjusted Trial Balance
August 31
Acct. No.
Account Name
Debit
Credit
101
Cash
$ 2,193
102
Accounts Receivable
27,791
Comprehensive Problem, cont.
Requirement 4, cont.
Accounts Receivable Subsidiary Ledger
Customer
Balance
Finnish Co.
$ 9,966
Accounts Payable Subsidiary Ledger
Vendor
Balance
Boxman Corp.
$ 510
Requirement 5
General Journal Page 9
Date
Accounts and Explanation
Post.
Ref.
Debit
Credit
Aug. 31(a)
Supplies Expense
519
1,310
`
Office Supplies
109
1,310
Comprehensive Problem, cont.
Requirement 5, cont.
Cash
No. 101
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
4,490
Aug. 31
CR.11
8,309
12,799
31
CP.5
10,606
2,193
Merchandise Inventory
No. 105
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
41,800
Aug. 31
P.8
9,730
51,530
19
CP.5
850
52,380
5
J.9
174
52,554
30
CR.11
850
51,704
Comprehensive Problem, cont.
Requirement 5, cont.
Accounts Payable
No. 201
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
12,600
Aug. 31
P.8
10,420
23,020
31
CP.5
4,000
19,020
Comprehensive Problem, cont.
Requirement 5, cont.
Dividends
No. 310
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
0
Aug. 31
CP.5
500
500
Income Summary
No. 400
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
0
Comprehensive Problem, cont.
Requirement 5, cont.
Cost of Goods Sold
No. 501
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
0
Aug. 31
S.4
4,101
4,101
31
CR.11
104
4,205
5
J.9
174
4,031
Salaries Expense
No. 510
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Bal.
0
Aug. 16
CP.5
1,240
1,240
Adj.
J.9
1,030
2,270
Comprehensive Problem, cont.
Insurance Expense
No. 516
Date
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
Requirement 6
QUICK NETWORKING SYSTEMS
Adjusted Trial Balance
August 31
Account Name
Debit
Credit
Cash
$ 2,193
Accounts Receivable
27,791
Merchandise Inventory
47,485
Office Supplies
990
