Business, 21.11.2019 05:31, melanie1759

Kieschnick company has a balance in its accounts receivable control account of $10,500 on january 1, 2017.
the subsidiary ledger contains three accounts: bixler company, balance $3,800; cuddyer company, balance $3,000; and freeze company.
during january, the following receivable-related transactions occurred. credit sales collections returnsbixler company $9,200 $8,100 $0cuddyer company 7,000 2,500 2,800freeze company 8,200 9,200 0
what is the january 1 balance in the freeze company subsidiary account? what is the january 31 balance in the control account? compute the balances in the subsidiary accounts at the end of the month. which january transaction would not be recorded in a special journal?

Answers: 3

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answered: qiuedhg

What is the January 1 balance in the Freeze Company subsidiary account?

$3,700

Freeze = $10,500 - $3,800 - $3,000 = $3,700

What is the January 31 balance in the control account?

$15,100

Control Account January 1 Balance

$10,500

Total Sales

$24,400

Collections

-$19,800

Balance on January 31

$15,100

Which January transaction would not be recorded in a special journal?

Returns of Cuddyer Company by $2,800

Explanation:

What is the January 1 balance in the Freeze Company subsidiary account?

Company

Bixler Cuddyer Freeze Kieschnick

$3,800$3,000$3,700$10,500

To know the Freeze balance we have to take the total balance on accounts receivable in the control company and deduct the balance of Bixler and Cuddyer

Freeze = $10,500 - $3,800 - $3,000 = $3,700

What is the January 31 balance in the control account?

Company

Bixler Cuddyer Freeze Kieschnick

$3,800$3,000$3,700$10,500January 1

$9,200$7,000$8,200$24,400Sales

-$8,100-$2,500-$9,200-$19,800Collections

$4,900$7,500$2,700$15,100January 31

To calculate the balance in the control account at January 31, it's necessary to calculate the balance of each subsidiary, then add each balance to report the balance in the control account.

Control Account January 1 Balance

$10,500

Total Sales

$24,400

Collections

-$19,800

Balance on January 31

$15,100

Which January transaction would not be recorded in a special journal?

Returns of Cuddyer Company by $2,800

This transaction wont be recorded because Sales are expressed net of discount and Returns, so it´s not necessary to deduct again this value of sales.

answered: Guest

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answered: Guest

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Kieschnick company has a balance in its accounts receivable control account of $10,500 on january 1,...