Post the various journals

Assignment Help Accounting Basics
Reference no: EM132609005

Question - On 1 September the balance of the accounts receivable control account in the general ledger of Whelan Company was $11 960. The customers' subsidiary ledger contained account balances as follows: Jana $2 440, Kingston $2 640, Johnson $2 060, Phillips $4 820. At the end of September the various journals contained the following information.

Sales journal: Sales to Phillips $800; to Jana $1 260; to Simons $1 030; to Johnson $1 100.

Cash receipts journal: Cash received from Johnson $1 310; from Phillips $2 300; from Simons $380; from Kingston $1 800; from Jana $1 240.

General journal: An allowance is granted to Phillips $220.

Instructions -

(a) Set up control and subsidiary accounts and enter the beginning balances.

(b) Post the various journals. Post the items as individual items or as totals, whichever would be the appropriate procedure. (No sales discounts given.)

Reference no: EM132609005

Previous Q& A

  What are organizational effectiveness goals

What are organizational effectiveness goals and state one

  How you can take an active role as a health-care advocate

Research a health-care initiative or legislative statue that is currently underway in your state or federally. You may want to check with nursing organizations.

  Explain the function of the courts

Explain the function of the courts

  What has happened to accounts receivable and inventory

Describe in a couple paragraphs what has happened to Accounts Receivable and Inventory. Does this help explain why cash is running low in your opinion

  What amount of rental loss can Noah use

Noah Yobs, who has $97,000 of AGI (solely from wages) before considering rental activities, What amount of rental loss can Noah use

  What are the total production costs

Of this amount, total variable costs are $60,000. What are the total production costs when 30,000 packages of razors are produced

  Describe teaching experience and discuss your observations

University meets the requirements for clinical competencies as defined by the Commission on Collegiate Nursing Education (CCNE) and the American Association.

  What was the amount of interest capitalized during the year

Question - Real World Case - Property, plant, and equipment; Home Depot. What was the amount of interest capitalized during the year

  How personal experience affects interpretation of humanities

Explain how and why the study of the Humanities is relevant to the contemporary human experience. Analyze how personal experience affects one's interpretation.

  Develop an understanding of the role and nature of service

Develop an understanding of the role and nature of service in the service economy and the hotel industry and Examine key issues concerning the management

Reviews

Write a Review

 

Similar Q& A

  Evaluate possible synergy and other effects of acquisition

discuss and attempt to evaluate possible synergy and other effects of acquisition.- What % of post IPO equity should VC's shares to be converted in to provide VC its expected return?

  Accounting reporting criteria

Compare and contrast the accounting reporting criteria-including regulatory environment, issues with foreign currency, differences in GAAP, and any others-of a U.S. company with a foreign company.

  Determine the unit cost for the month in finishing

Considering this information, determine (a) the unit cost for the month in finishing, (b) the total cost of the products transferred to finished goods

  Determine value-added under proposed production approaches

Determine the value-added, non-value-added, total lead times, and the value-added ratio under the present and proposed production approaches.

  Journalize all the adjusting entries at November

Property tax payable not yet recorded: 3,500. Journalize all the adjusting entries at November 30 needed on the books of the company

  Compute depreciation under the straight-line methods

Compute depreciation under the straight-line, units-of-output, working hours, sum-of-the-years'-digits, and double-declining-balance methods

  Calculate Adams lowest taxable income

An Office building Adam owned was condemned by the state to make room for a state building. Calculate Adam's lowest taxable income

  Relevant internal revenue code sections

How much, if any, will Fly be able to itemize as a charitable deduction in 2012 and 2013? Be sure to explain your reasoning with the information from the relevant Internal Revenue Code sections.

  Increase in fair value of the investments

What should Quinn report on its 2007 income statement as a result of the increase in fair value of the investments in 2007?

  How many shares of treasury stock does forgione have

How many shares of treasury stock does Forgione have? What are the dividends per share of common stock as a result of this distribution?

  Determine the book value of common stock

At fiscal year end, Dec 31, 2017, Alpha Corporations had total stockholders equity of 2500000. Use this to determine the book value of common stock

  Calculate the cost application rate

The Yoko Ono Company (YOC) has two production departments: machining and assembly. The budget for the coming year includes budgeted indirect production costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd