Purchases and Cash Payments Journals; Accounts Payable Subsidiary and General Ledgers
Aq...
Business, 17.02.2020 21:10, Random4422
Purchases and Cash Payments Journals; Accounts Payable Subsidiary and General Ledgers
AquaFresh Water Testing Service was established on April 16, 2016. AquaFresh uses field equipment and field supplies (chemicals and other supplies) to analyze water for unsafe contaminants in streams, lakes, and ponds. Transactions related to purchases and cash payments during the remainder of April are as follows:
April 16. Issued Check No. 1 in payment of rent for the remainder of April, $3,500.
April 16. Purchased field supplies on account from Hydro Supply Co., $5,340.
April 16. Purchased field equipment on account from Pure Equipment Co., $21,450.
April 17. Purchased office supplies on account from Best Office Supply Co., $510.
April 19. Issued Check No. 2 in payment of field supplies, $3,340, and office supplies, $400.
Post the journals to the accounts payable subsidiary ledger.
April 23. Purchased office supplies on account from Best Office Supply Co., $660.
April 23. Issued Check No. 3 to purchase land, $140,000.
April 24. Issued Check No. 4 to Hydro Supply Co. in payment of April 16 invoice, $5,340.
April 26. Issued Check No. 5 to Pure Equipment Co. in payment of April 16 invoice, $21,450.
Post the journals to the accounts payable subsidiary ledger.
April 30. Acquired land in exchange for field equipment having a cost of $12,000.
April 30. Purchased field supplies on account from Hydro Supply Co., $7,650.
April 30. Issued Check No. 6 to Best Office Supply Co. in payment of April 17 invoice, $510.
April 30. Purchased the following from Pure Equipment Co. on account: field supplies, $1,340, and field equipment, $4,700.
April 30. Issued Check No. 7 in payment of salaries, $29,400.
Post the journals to the accounts payable subsidiary ledger.
Required:
1. Journalize the transactions (in chronological order as presented in the data) for April. Use a purchases journal and a cash payments journal, and a two-column general journal. Use debit columns for Field Supplies, Office Supplies, and Other Accounts in the purchases journal. Refer to the following partial chart of accounts:
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 09:20, swello1937
Which statement best explains the relationship between points a and b? a. consumption reaches its highest point, and then supply begins to fall. b. inflation reaches its highest point, and then the economy begins to expand. c. production reaches its highest point, and then the economy begins to contract. d. unemployment reaches its highest point, and then inflation begins to decrease.
Answers: 2
Business, 22.06.2019 15:50, fireemblam101ovu1gt
Evaluate a real situation between two economic actors; it could be any scenario: two competing businesses, two countries in negotiations, two kids trading baseball cards, you and another person involved in an exchange or anything else. use game theory to analyze the situation and the outcome (or potential outcome). be sure to explain the incentives, benefits and risks each face.
Answers: 1
Business, 22.06.2019 22:00, brad7330
Brody corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. beginning inventory for january consisted of 1,050 units that were 65% completed. 10,900 units were started into the process during january. on january 31, the inventory consisted of 500 units that were 50% completed. what would be the equivalent units for direct materials cost using the weighted average method?
Answers: 2
Business, 23.06.2019 01:30, stranger123
At the end of the fiscal year, apha airlines has an outstanding non-cancellable purchase commitment for the purchase of 1 million gallons of jet fuel at a price of $4.10 per gallon for delivery during the coming summer. the company prices its inventory at the lower of cost or market. if the market price for jet fuel at the end of the year is $4.50, how would this situation be reflected in the annual financial statements?
Answers: 2
Do you know the correct answer?
Questions in other subjects:
Mathematics, 30.06.2021 01:10
History, 30.06.2021 01:10
