Prepare a t account for the accounts payable

Assignment Help Cost Accounting
Reference no: EM13553552

The purchases journal for See-Thru Window Cleaners Inc. is shown below. The accounts payable control account has a January 1, 2010, balance of $295 of an amount due from Lawson Co. There were no payments made on creditor invoices during January.

262_Prepare a T account for the accounts payable.PNG

a. Prepare a T account for the accounts payable creditor accounts.

b. Post the transactions from the purchases journal to the creditor accounts, and determine their ending balances.

c. Prepare T accounts for the accounts payable control and cleaning supplies accounts. Post control totals to the two accounts, and determine their ending balances.

d. Verify the equality of the sum of the creditor account balances and the accounts payable control accountbalance.

Reference no: EM13553552

Questions Cloud

Reconstruct a multiple-step income statement : From the information given, reconstruct a multiple-step income statement for the year. Include earnings per share.
What final payment will the bank require : If the interest rate on the loan is 5%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment?
Find how many kilograms of ethyl alcohol would freeze : Suppose that the amount of heat removed when 1.6 kg of water freezes at 0.0 oC were removed from ethyl alcohol at its freezing/melting point of -114.4 oC. How many kilograms of ethyl alcohol would freeze
Aensing or measuring device is malfunctioning : What are the methods used to determine if a sensing or measuring device is malfunctioning ?
Prepare a t account for the accounts payable : Prepare a T account for the accounts payable creditor accounts and post the transactions from the purchases journal to the creditor accounts, and determine their ending balances.
Determine what is the oscillators max speed : A 195g oscillator has a speed of 124cm/s when its displacement is 3.50cm and 55.0cm/s when its displacement is 6.90cm what is the oscillators max speed
Division of loss and the payment of liabilities : Prepare a statement of partnership liquidation, indicating the sale of assets and division of loss and the payment of liabilities.
The temperature profile as a function of radial position : (a) The temperature profile as a function of radial position
Calculate the maximum distance the block moves up the plane : A 4.5 kg block is given an initial speed of 14 m/s up an incline plane of angle of 45. Calculate the maximum distance the block moves up the plane

Reviews

Write a Review

Cost Accounting Questions & Answers

  Activity-based costing

Activity-Based Costing

  Convergence of international financial reporting

convergence of international financial reporting standardsessay addressed the following questionsa. critical ly review

  Explain how both julie and the sole proprietorship

At the date of transfer, the computer had a fair market value of $1,000. Explain how both Julie and the sole proprietorship will treat this for tax purposes.

  What is the estimated market value of the property

What is the estimated market value of the property using the cost approach, assuming no external or functional obsolescence?

  How responsibility centers are used for budgeting process

From your text and at least one scholarly source, research information on responsibility centers. Explain how responsibility centers are used for the budgeting process

  Compute the project profitability index

Compute the project profitability index for each proposal and rank the proposals in terms of preference.

  Q the accounting staff of wyoming outfitters has assembled

q. the accounting staff of wyoming outfitters has assembled the subsequent information for the year ended 31st december

  Prepare a statement of cash flows on the direct method

Prepare  a Statement of Cash Flows on the direct method (do not include the  indirect method of calculating operating cash flows). The Statement of Cash Flows should  automatically change when any assumption is changed.

  How does the shareholders wealth change

How does the shareholders wealth change and outstanding equity are entitled to purchase one additional share of the new issue.

  Evaluate the net tax benefit from each alternative

Dean sell the stock and then donate the cash, or should he contribute the stock directly? Evaluate the net tax benefit from each alternative and describe the difference.

  Calculate the employer payroll taxe

Calculate the amounts to be reported on each employes Wage and Tax Statement and Calculate the employer payroll taxe

  Evaluate the amount of uncollectible accounts

Identify and analyze the adjustment needed to estimate bad debts. Assume that the balance in Allowance for Doubtful Accounts is $20,000.

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