Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Coronado Company has a balance in its Accounts Payable control account of $12,600 on January 1, 2020. The subsidiary ledger contains three accounts: Smith Company,

Coronado Company has a balance in its Accounts Payable control account of $12,600 on January 1, 2020. The subsidiary ledger contains three accounts: Smith Company, balance $3,700; White Company, balance $3,550 and Marino Company. During January, the following payable-related transactions occurred.

Purchases Payments Returns
Smith Company $9,200 $6,700 $ -0-
White Company 5,950 3,200 2,200
Marino Company 6,800 6,950 -0-

(a)

What is the January 1 balance in the Marino Company subsidiary account?

January 1 balance $Type your answer here

(b)

What is the January 31 balance in the control account?

January 31 balance $Type your answer here

(c)

Compute the balances in the subsidiary accounts at the end of the month.

Smith $
White
Marino
Total $

Which January transaction would not be recorded in a special journal?

The ??????? $ would not be recorded in a special journal

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Process Driven Comprehensive Auditing A New Way To Conduct ISO 9001 2008 Internal Audits

Authors: Paul C. Palmes

2nd Edition

0873897544, 978-0873897549

More Books

Students also viewed these Accounting questions