HW Q 2

*7 Homework: Chapter 7 Question 2 of 5 > - /5.6 111 View Policies Current Attempt in Progress Pharoah Company's chart of accounts includes the following selected accounts. 101 Cash 201 Accounts Payable 120 Inventory 306 Owner's Drawings 130 Prepaid Insurance 505 Cost of Goods Sold 57 Equipment On October 1, the accounts payable ledger of Pharoah Company showed the following balances: Uggla Company $2.950. Or Co. $2,490. Rosenthal Co. $1,730, and Clevenger Company $3,750. The October transactions involving the payment of cash were as follows Oct. 1 Purchased merchandise, check no 63,5310. 3 Purchased equipment, check no. 64, $750. Question 2 of 5 -/5.6 III Oct. 1 Purchased merchandise, check no. 63, $310. 3 5 10 15 Purchased equipment, check no. 64 $750. Paid Uggla Company balance due of $2.950, less 2% discount, check no. 65, $2,891.00 Purchased merchandise, check no. 66, $2,270. Paid Rosenthal Co, balance due of $1,730, check no. 67, C.Pharoah, the owner, pays his personal Insurance premium of $360, check no. 68. Paid Orr Co, in full for invoice no 610, $2,250 less 2% cash discount, check 60. 69. 52,205.00. Paid Cleverger Company in full for invoice no. 264, 52,490, check no. 70. 16 19 29 (al Journalize the transactions above in a four column cash payments Journal with columns for Other Accounts Dr. Accounts Payable Dr. Inventory Crand Cash Cr Foot and cross-foot the journal (Record entries in the order displayed in the problem statement. Round data 3 PM Question 2 of 5 - /5.6 Journalize the transactions above in a four-column cash payments journal with columns for Other Accounts Dr. Accounts Payable Dr. Inventory Crand Cash Cr.Foot and cross-foot the journal. (Record entries in the order displayed in the problem statement. Round answers to decimal places, eg. 5,275) Cash Payments Journal Date Ck. No. Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Invent 63 120 >> 64 157 Inventory Equipment Uggla Company Rosenthal Co. Owners Drawing er Co. Clever Company 65 > V 66 120 ./5.6 E v 64 > 157 > 65 V 66 S 120 67 6 V 68 > 306 > > > > 69 V 70 V (X) (201) ( 17 PM Question 2 of 5 -/5.6 157 > 120 -/5.6 E 3D2 Insert the beginning balances in the Accounts Payable control and subsidiary accounts, and post the October transactions to these accounts (Post entries in the order of entries presented in the previous part) General Ledger Accounts Payable Date Explanation Ref. Debit Credit Balance Balance CP1 Accounts Payable Subsidiary Ledger Uggla Company Date Explanation Ref. Debit Credit Balance Balance V 30/question/1 Homework: Chapter 7 Question 2 of 5 -/5.6 Accounts Payable Subsidiary Ledger Uggla Company Date Explanation Ref. Debit Credit Balance v Balance CP1 Orr Co. Date Explanation Ref. Debit Credit Balance V Balance V CPI Rosenthal Co. Date Explanation Ref. Debit Credit Balance Question 2 of 5 -/5.6 Date Explanation Ref. Debit Credit Balance Balance CP1 Rosenthal Co. Date Explanation Rel. Debit Credit Balance Balance V CPI Clevenger Company Date Explanation Ref. Debit Credit Balance Balance V CPI 23 Question 2 of 5 - /5.6 Ti E (c) Prove the agreement of the control account and the subsidiary account balances. (Do not list those accounts that have zero ending balance) Accounts payable balance: $ Subsidiary account balances: : $ Clevenger Company Rosenthal Orrco ca Colroany