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

  What is the divisions residual income

What is the division's ROI - if the minimum rate of return is 12 percent, what is the division's residual income?

  On january 1 2014 spalding company sold 12 bonds having a

on january 1 2014 spalding company sold 12 bonds having a maturity value of 1000000 for 1075814.74 which provides the

  Record transactions and calculate financial statement

Record transactions and calculate financial statement amounts.

  An auditor must not only appear to be independent but must

an auditor must not only appear to be independent but must also be independent in fact. research the concept of

  A standard cost card says that a product is suppose to use

a standard cost card says that a product is suppose to use 4lb of material b per finished unit and that the standard

  Complex computer-controlled movements

An amusement park spends $350,000 each year in consulting services for ride inspection. New actuator element technology enables engineers to simulate complex computer-controlled movements in any direction.

  Short-run pricing decisions

Question 1. Short-run pricing decisions include

  Cost of goods sold-income statement

What amount should White report as Cost of Goods Sold in the 2011 income statement?

  Capital Budgeting Decision

Why is the capital budgeting decision crucial and important for a firm? State why the capital budgeting errors are so costly?

  Big lake boat tours sold off one of their tour boats that

big lake boat tours sold off one of their tour boats that was toosmall to meet the current needs of business.the boat

  Net present value of the investment

The net present value of the investment, excluding the intangible benefits, is -$326,237. To the nearest whole dollar how large would the annual intangible benefit have to be to make the investment in the aircraft financially attractive?

  Achange from the completed-contract method to the

various types of accounting changes can affect the financial statements of a business enterprise differently. assume

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