User Account

All Pages

Prepare a list of customers and prove the agreement

Assignment Help Accounting Basics
Reference no: EM131139882

1. On September 1 the balance of the Accounts Receivable control account in the general ledger of Seaver Company was $10,960.The customers' subsidiary ledger contained account balances as follows: Ruiz $1,440, Kingston $2,640, Bannister $2,060, Crampton $4,820. At the end of September the various journals contained the following information. Sales journal: Sales to Crampton $800; to Ruiz $1,260; to Iman $1,330; to Bannister $1,100. Cash receipts journal: Cash received from Bannister $1,310; from Crampton $2,300; from Iman $380; from Kingston $1,800; from Ruiz $1,240. General journal: An allowance is granted to Crampton $220.

Instructions

(a) Set up control and subsidiary accounts and enter the beginning balances. Do not construct the journals.

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

(c) Prepare a list of customers and prove the agreement of the controlling account with the subsidiary ledger at September 30, 2010. 

Reference no: EM131139882

Questions Cloud

Trade-offs between cost and risk for commodity products : What are the trade-offs between cost and risk for commodity products? What types of issues are addressed between a buyer and seller to enhance supply chains? How can we establish effective supply chain partnerships to achieve global optimization?
Explain role-relative importance of relationship building : Explain the role and relative importance of relationship building. what are the styles and tactics involved. the use of nonverbal behaviors. what factors should be considered when negotiating cross culturally?
Delivers training results-work environment support training : How Nick's Pizza Delivers Training Results At first glance, Nick's Pizza & Pub sounds as ordinary as a company can be: a pizza restaurant with two locations, each in one of Chicago's northwest suburbs. But when you take a look at the company's perfor..
Which january transaction would not be recorded : What is the January 1 balance in the Koyan Company subsidiary account?
Prepare a list of customers and prove the agreement : Prepare a list of customers and prove the agreement of the controlling account with the subsidiary ledger at September 30, 2010.
Find the de broglie wavelength and frequency of an electron : 1. Find the de Broglie wavelength and frequency of an electron whose speed is 10% of the speed of light. Using the EM spectrum chart, what kinds of EM waves could this de Broglie wavelemgth represent? Please show all calculations and explanations!
Presented below is the subsidiary accounts receivable : Presented below is the subsidiary accounts receivable account of Jeremy Dody.
What is the balance of the accounts receivable : What is the balance of the Accounts Receivable control account after the monthly postings on July 31?
Certain crime to carry possible punishment : A Michigan statute allows for a certain crime to carry a possible punishment of 5 years in prison. Alleged criminal Smith has been charged with this crime but the prosecutor has agreed to limit the requested punishment to 10 months incarceration, if ..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Filings and forms edgar click on search for company filings

filings and forms edgar click on search for company filings. click on companies and other filers. under company name

  The dynamaco company uses cost-plus pricing with a 50

the dynamaco company uses cost-plus pricing with a 50 mark-up. the company is currently selling 100000 units at 12 per

  Department a had 4648 units in work in process that were 69

department a had 4648 units in work in process that were 69 completed as to labor and overhead at the beginning of the

  Predetermined overhead rate based on machine hours

Suppose that Wolfe were to use a single, predetermined overhead rate based on machine hours. Compute the rate per hour and the total overhead assigned.

  The amount of overhead applied to the product exceeds the

the amount of overhead applied to the product exceeds the amount incurred is the difference called underapplied

  Abc company employs a periodic inventory system and sells

abc company employs a periodic inventory system and sells its inventory to customers for 25 per unit. abc company had

  Analysis showing the net profit

Provide analysis showing the net profit from (i) the covered call and (ii) the protective put on the expiration date assuming the stock price has fallen 20%. Which strategy is more effective at retaining the value of your position?

  To what years can the 2006,2009 and 2010 net operating

That the taxpayer has consistently elected to carryback the net operating losses as incurred and elected the "two-year" carryback provision.

  A company has a total cost of 5000 per unit at a volume of

a company has a total cost of 50.00 per unit at a volume of 100000 units. the variable cost per unit is 20.00. what

  Altex inc manufactures two products car wheels and truck

altex inc. manufactures two products car wheels and truck wheels. to determine the amount of overhead to assign to each

  Amount of cash received

Buehler Company on June 14 sells merchandise on account to Chaz Co. for $1,000, terms 2/10/n, n/30. Chaz Co. returns merchandise or $300 to Buehler Company on June 17. On June 24, payment is received from Chaz Co. for the balance due. What should ..

  If using the straight line method the amount of

1.which of the following is true?a.if using the double-declining-balance the total amount of depreciation expense

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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