Can u help me on 7, 8, 9, 10, and 12? Thanks!!
(a) When do companies normally post to (1) the subsidiary ac- counts and (2) the general ledger control accounts? (b) Describe the relationship between a control account and a subsidiary ledger CaIdentify and explain the four special journals discussed in the chap- ter. List an advantage of using each of these journals rather than using only a general journal. 8/Kensington Company uses special journals. It recorded in a sales journal a sale made on account to R. Stiner for $435. A few days later, R. Stiner returns $70 worth of merchandise for credit. Where should a. Recording of dep b. Credit given to a and returned. c. Sales of merchas d. Sales of mercha e. Collection of ca f. Purchase of offi- 14. In what journal (Assume that a two- chases journal are us Kensington Company record the sales return? Why? $500 purchase of merchandise on account from Lore Com- pany was properly recorded in the purchases journal. When posted, however, the amount recorded in the subsidiary ledger was $50. How mighy this error be discovered? 10 Why would special journals used in different businesses not be identical in format? What type of business would maintain a cash receipts journal but not include a column for accounts receivable? 11. The cash and the accounts receivable columns in the cash re ceipts journal were mistakenly over-added by $4,000 at the end of the month. (a) Will the customers' ledger agree with the Accounts Receivable control account? (b) Assuming no other errors, will the trial balance totals be equal? 12. Ope column total of a special journal is posted at month-end to only two general ledger accounts. One of these two accounts is Accounts Receivable. What is the name of this special journal? What is the other general ledger account to which that same month-end total is posted? 13. In what journal would the following transactions be recorded? (Assume that a two-column sales journal and a single-column pur- chases journal are used.) 9. a. Cash received f b. Investment of c c. Closing of the e d. Purchase of me e. Credit receive supplier. f. Payment of cas 15. What transact purchases journal tm chases journal? 16. Give an exanm causes an entry to general ledger, the debit/credit equalit 17. Give some exa an organization usi Brief Exercises (a) When do companies normally post to (1) the subsidiary ac- counts and (2) the general ledger control accounts? (b) Describe the relationship between a control account and a subsidiary ledger CaIdentify and explain the four special journals discussed in the chap- ter. List an advantage of using each of these journals rather than using only a general journal. 8/Kensington Company uses special journals. It recorded in a sales journal a sale made on account to R. Stiner for $435. A few days later, R. Stiner returns $70 worth of merchandise for credit. Where should a. Recording of dep b. Credit given to a and returned. c. Sales of merchas d. Sales of mercha e. Collection of ca f. Purchase of offi- 14. In what journal (Assume that a two- chases journal are us Kensington Company record the sales return? Why? $500 purchase of merchandise on account from Lore Com- pany was properly recorded in the purchases journal. When posted, however, the amount recorded in the subsidiary ledger was $50. How mighy this error be discovered? 10 Why would special journals used in different businesses not be identical in format? What type of business would maintain a cash receipts journal but not include a column for accounts receivable? 11. The cash and the accounts receivable columns in the cash re ceipts journal were mistakenly over-added by $4,000 at the end of the month. (a) Will the customers' ledger agree with the Accounts Receivable control account? (b) Assuming no other errors, will the trial balance totals be equal? 12. Ope column total of a special journal is posted at month-end to only two general ledger accounts. One of these two accounts is Accounts Receivable. What is the name of this special journal? What is the other general ledger account to which that same month-end total is posted? 13. In what journal would the following transactions be recorded? (Assume that a two-column sales journal and a single-column pur- chases journal are used.) 9. a. Cash received f b. Investment of c c. Closing of the e d. Purchase of me e. Credit receive supplier. f. Payment of cas 15. What transact purchases journal tm chases journal? 16. Give an exanm causes an entry to general ledger, the debit/credit equalit 17. Give some exa an organization usi Brief Exercises
