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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 20
Posting purchases and cash payments transactions.
INSTRUCTIONS
1. Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balance of Cash as of April 1, 2013.
2. Post the entries in Problem 8.2B from the general journal to the appropriate accounts in the general ledger and in the accounts payable ledger.
3. Prepare a schedule of accounts payable. Compare the balance of the Accounts Payable control account with the total of the schedule.
GENERAL LEDGER ACCOUNTS
ACCOUNTS PAYABLE LEDGER ACCOUNTS
Analyze: What was the amount of purchase discounts in April?
INSTRUCTIONS
1. Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balance of Cash as of April 1, 2013.
2. Post the entries in Problem 8.2B from the general journal to the appropriate accounts in the general ledger and in the accounts payable ledger.
3. Prepare a schedule of accounts payable. Compare the balance of the Accounts Payable control account with the total of the schedule.
GENERAL LEDGER ACCOUNTS
ACCOUNTS PAYABLE LEDGER ACCOUNTS
Analyze: What was the amount of purchase discounts in April?
Explanation
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Purchasing goods on account- posting in ...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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