Chapter 5 Application (5-03)

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Purchases, Accounts Payable Subsidiary Account, and Accounts Payable Ledger Sterling Forest Landscaping designs and installe landscaping. The landscape designers and office staff ist office supplies, while field supplies (rock, bark, etc.) are used in the bctual landscaping Purchases on account completed by Sterling Forest Landscaping during October are as follows Oct 2 Purchased office supplies on account from Meade Co., 52,890. 5 Parchased office copment on account from Peach Computers Co. 54,160 Purchased office supplies on account from Executive Office Supply Co., 5300 Purchased held supplies on account from Yamura Co., $3,290 14 Durchased hield supplies on account from my 3430 17 Purchased held wippies on account from Yamura Co., 37,620 24 Purchased field supplies on account from Omni Co. 52,210 Purchased office supplies in account from kecutive Office Supply CX 5200 31 Purchased field supplies an account from Omnico. 7.990 Note Powing references been provided Required 1. Insert the following balance in the general ledge of October 11 14 Field Super office Supplies Office Equipment 35.690 1,350 1 18 19,850 18 Office Copment 19,850 21 Accounts Payable 5,050 Alter completing the recording of transactions in part 3. post the purchases journal to the accounts in the Omeral leder. If an amount box does not require an entry, leave it blank GENERAL LEDGER Balance Date Items Post. Ref. Debit Credit Dr. Cr. Account Field Supplies 14 Oct 1 -Balance PJ0 Account Office Supplies 15 Balance po Account office toimen 1 Dalane 30 Previous Next > Odk My Work clock Show Me How Oct. 1 Balance Account Accounts Payable #21 Oct 1 balance P30 2. Insert the following balance in the counts payable sutrudny ledger as of October Executive Office Supply Co 51,670 3,300 Meade.co Omnico Peach Computers Co Yamuro After completing the recording of tractions in part post to the creditor accounts in the accounts payable subsidiary ledger mediately after ad entry. If an amount box does it requirement and ACCOUNTS PAYABLE SUBSIDIARY LEDGER Item Post. Rel Debit Date Credit Balance Accountiroteomice Spoly Co. Previous Next eBook Show Me How Account: Executive Office Supply Co. Balance Oct. 1 > P30 P30 Oct. 7 Oct. 8 Oct. 9 Balance Oct. 11 P30 Account: Omni Co. P30 P30 P30 Account: Peach Computers Co. P30 Account: Yamura Co. Check My Work e look Show Me How 3. Journalize the transactions for October (in chronological order), using the purchases journal below (30) similar to the one illustrated in this chapter Post to the creditor account in the accounts payable subrudary ledger in part 2) wedately after each entry 1. Post the purchases youmal to the accounts in the everal ledge in part 1). If an amount box does not require an entry, leave it blank If no other account is needed in the Other Accounts column select No entry required PURCHASES JOURNAL Post. Her Post Re Accounts Payable Cr. Field Supplies Dr. Office Supplies Dr. Other Accounts Dr. Account Credited Date Od Os Od Oct OCT 14 Oct 12 Oct 24 Oct. 31 makeassignment, takoAssignment Main doinvoke=&takoAssignmentSession locator Bincrogress=false etook Show Me How Oct 31 Sa. What is the sum of the creditor balances in the subsidiary ledger at October 31 Sb. What is the balance of the accounts payable controllito account at October 17 6. What type of e-commerce polication would be wed to plan and coordinate transactions with supplen? Strychain management Check All purchases on account (invoiced purchases are recorded in the purchases journal The hist columnes uued for credits to Accounts Payable, Accounts used frequently for purchases have a debt column the journal, like Field Supplies and Office Supplies. Those transactions that do not include supplies are recorded in the other Accounts column. Remember the title of the account to be debited es entered on the Other Accounts Decolume, and the amount is entered in the amount column Each line will have a credit to Accounts Payabile Post the creditor transactions to the subsidiary accounts payable ledger Post the totals to the individual accounts in the general ledger 5. Compare the sum of the accounts payable creditor balances with the Accounts Porvoble controling account in the general ledger They should be equal