O Lotermine whether the control account and subsidiary account balances are PSA6.8 Journaline in poin journals post prepare tried balance, check control with slider prepare adjusting entries prepare adjusted trial balance LOO, 10, 13, 14 Presented below are the sales and cash recipes joumals for Clover Hill for its first month of operations. Date Feb. 3 Post ref. Accounts receivable Dr Sales Or OG Account debited D. Adams P Babcock D. Chambers K. Dawson 12 26 8250 9750 12000 9000 29000 Cout of solos De Inventory 5446 6436 7020 5040 25740 CR1 Account credited J. Hill, capital Post ret. Sales C Other accounts CT 45000 Cost of sales De Inventory Cash receipts Journal Discount Accounts Cash allowed receivable Dr Dr Cr 45000 9750 8167 83 8250 225 9750 9750 72892 83 18000 Dato Feb. 1 2 13 18 26 9750 6435 D. Adams Inventory P. Babcock 225 9.750 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 1/7.130. 9 Purchased inventory on account from L. Hold for $45 000, torms 1/10, 1/30. 9 Paid cash of $1500 for purchase of supplies. 12 Paid $5040 to S. Healy in payment of $6000 invoice, loss 1% discount 15 Purchased oquipment for $12000 cash. 16 Purchased inventory on account from R. Landly $3600, torms 2/7.1030. 17 Paid $44550 to L. Held in payment of $45 000 invoice, loss 1% discount. 20 Withdrew cash of $1650 from business for personal use. 21 Purchased inventory on account from J. Able for $9750, terms 177,130. 28 Paid $3600 to R. Landly in paymont of $3600 invoice Angwon 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 306 401 405 506 614 631 711 J. Hm, 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. (8) 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. PSA6.9 Journalise transactions in cash receipts journal; post to control account and subsidiary ledger. L09, 10, 13, 14 Lacquer Nail Supplies chart of accounts includes the following selected accounts. 0 0 rch O Lotermine whether the control account and subsidiary account balances are PSA6.8 Journaline in poin journals post prepare tried balance, check control with slider prepare adjusting entries prepare adjusted trial balance LOO, 10, 13, 14 Presented below are the sales and cash recipes joumals for Clover Hill for its first month of operations. Date Feb. 3 Post ref. Accounts receivable Dr Sales Or OG Account debited D. Adams P Babcock D. Chambers K. Dawson 12 26 8250 9750 12000 9000 29000 Cout of solos De Inventory 5446 6436 7020 5040 25740 CR1 Account credited J. Hill, capital Post ret. Sales C Other accounts CT 45000 Cost of sales De Inventory Cash receipts Journal Discount Accounts Cash allowed receivable Dr Dr Cr 45000 9750 8167 83 8250 225 9750 9750 72892 83 18000 Dato Feb. 1 2 13 18 26 9750 6435 D. Adams Inventory P. Babcock 225 9.750 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 1/7.130. 9 Purchased inventory on account from L. Hold for $45 000, torms 1/10, 1/30. 9 Paid cash of $1500 for purchase of supplies. 12 Paid $5040 to S. Healy in payment of $6000 invoice, loss 1% discount 15 Purchased oquipment for $12000 cash. 16 Purchased inventory on account from R. Landly $3600, torms 2/7.1030. 17 Paid $44550 to L. Held in payment of $45 000 invoice, loss 1% discount. 20 Withdrew cash of $1650 from business for personal use. 21 Purchased inventory on account from J. Able for $9750, terms 177,130. 28 Paid $3600 to R. Landly in paymont of $3600 invoice Angwon 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 306 401 405 506 614 631 711 J. Hm, 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. (8) 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. PSA6.9 Journalise transactions in cash receipts journal; post to control account and subsidiary ledger. L09, 10, 13, 14 Lacquer Nail Supplies chart of accounts includes the following selected accounts. 0 0 rch