O Determine whether the control account and so PSA6.8 Journalise in special journals; post halise in special journals: post: prepare a trial balance; check control with subsidiary L09, 10, 13, 14 prepare adjusting entries: prepare an adjusted trial balance. Fresented below are the sales and cash receipts journals for Clover Hill for its first month of operations. 51 Sales journal Post ref. Date Feb. 3 Account debited D. Adams P. Babcock D. Chambers K. Dawson Accounts receivable Dr Sales Cr 8250 9750 12 000 9000 39000 Cost of sales Dr Inventory Cr 5445 6435 7920 5940 25 740 12 26 CR1 Cash receipts journal Discount Accounts allowed receivable Dr Post Sales cr Other accounts Cr 45000 Cost of sales Dr Inventory Cr Account credited J. Hill, capital ref. 9 750 6435 Date Feb. 1 2 13 18 26 Cash Dr 45 000 9750 8167 225 9750 72 892 83 8250 225 D. Adams Inventory P. Babcock 9750 18 000 9750 45225 6435 In addition, the following transactions have not been journalised for February 2019. Feb. 6 Purchased inventory on account from S. Healy for $6000, terms 177, n/30. Purchased inventory on account from L. Held for $45000, terms 1/10, 1/30. Paid cash of $1500 for purchase of supplies. 12 Paid $5940 to S. Healy in payment of $6000 invoice, less 1% discount. Purchased equipment for $12000 cash. Purchased inventory on account from R. Landly $3600, terms 2/7,n/30 17 Paid $44550 to L. Held in payment of $45 000 invoice, less 1% discount 20 Withdrew cash of $1650 from business for personal use. Purchased inventory on account from J. Able for $9750, terms 1/7, n/30. 28 Paid $3600 to R. Landly in payment of $3600 invoice. 21 Required (a) Open the following accounts in the general ledger. 101 Cash 112 Accounts receivable 120 Inventory 126 Supplies 157 Equipment 158 Accumulated depreciation --equipment 201 Accounts payable 301 J. Hill, capital 306 401 405 505 614 631 711 J. Hill, drawings Sales Discount received Cost of sales Discount allowed Supplies expense Depreciation expense (b) Journalise the transactions that have not been journalised in a one-column purchases journal and the cash payments journal (see figure 6.22). (c) Post to the accounts receivable and accounts payable subsidiary ledgers. Follow the sequence of transactions as shown in the problem. (d) Post the individual entries and totals to the general ledger. (e) Prepare a trial balance as at 28 February 2019. () Determine that the subsidiary ledgers agree with the control accounts in the general ledger (g) The following adjustments at the end of February are necessary: 1. A count of supplies indicates that $450 is still on hand. 2. Depreciation on equipment for February is $300. Prepare the adjusting entries and then post the adjusting entries to the general ledger. (h) Prepare an adjusted trial balance as at 28 February 2019. a nlatanutenland and archaldinn lade Required (a) Open the following accounts in the general ledger 101 Cash 112 Accounts receivable 120 Inventory 126 Supplies 157 Equipment 158 Accumulated depreciation--equipment 201 Accounts payable 301 J. Hill, capital 306 401 405 505 614 631 711 J. Hill, drawings Sales Discount received Cost of sales Discount allowed Supplies expense Depreciation expense (b) Journalise the transactions that have not been journalised in a one-column purchases journal and the cash payments journal (see figure 6.22). (c) Post to the accounts receivable and accounts payable subsidiary ledgers. Follow the sequence of transactions as shown in the problem. (d) Post the individual entries and totals to the general ledger. (e) Prepare a trial balance as at 28 February 2019. (1) Determine that the subsidiary ledgers agree with the control accounts in the general ledger (g) The following adjustments at the end of February are necessary: 1. A count of supplies indicates that $450 is still on hand. 2. Depreciation on equipment for February is $300. Prepare the adjusting entries and then post the adjusting entries to the general ledger. (h) Prepare an adjusted trial balance as at 28 February 2019. Onnist anderhaldinn lade -tal.ba