Question 1 of 2 View Policies Current Attempt in Progress Hale Company Janish Company Valdez Company (a) Oriole Company has a balance in its Accounts Payable control account of $8,170 on January 1, 2022. The subsidiary ledger contains three accounts: Hale Company, balance $2,550; Janish Company, balance $1,580; and Valdez Company. During January, the following payable-related transactions occurred. (b) (c) Save for Later < What is the January 1 balance in the Valdez Company subsidiary account? eTextbook and Media Balance in the Valdez Company subsidiary account $ Save for Later Balance in the control account $ (d) Purchases What is the January 31 balance in the control account? eTextbook and Media Hale $7,200 5,690 6,435 Janish > Valdez Save for Later Compute the balances in the subsidiary accounts at the end of the month. Payments Returns $5,940 1,580 The balances in the subsidiary accounts at the end of the month eTextbook and Media Save for Later eTextbook and Media 6,600 $0 2,650 $ $ 0 $ Which January transaction would not be recorded in a special journal? -/5 Attempts: 0 of 5 used Submit Answer Attempts: 0 of 5 used Submit Answer Attempts: 0 of 5 used Submit Answer Attempts: 0 of 5 used Submit Answer Question 2 of 2 View Policies Current Attempt in Progress The following are some typical transactions incurred by Ricketts Company. 1. For each transaction, indicate whether it would normally be recorded in a cash receipts journal, cash payments journal, sales journal, single-column purchases journal, or general journal. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. > Transactions Payment of creditors on account. Return of merchandise sold for credit. Collection on account from customers. Sale of land for cash. Sale of merchandise on account. Sale of merchandise for cash. Received credit for merchandise purchased on credit. Sales discount taken on goods sold. Payment of employee wages. Income summary closed to owner's capital. Depreciation on building. Purchase of office supplies for cash. Purchase of merchandise on account. eTextbook and Media Save for Later -/5 = 1 Journals Attempts: 0 of 5 used Submit Answer Question 1 of 7 View Policies Current Attempt in Progress The following is information related to Blossom Company for its first month of operations. Jan. 7 15 23 Credit Sales Austin Co. Diaz Co. Noble Co. Balance of Accounts Receivable > $ Save for Later $11,800 7,300 eTextbook and Media 11,100 Austin Co. Jan. 17 24 Cash Collections Austin Co. Diaz Co. 29 Noble Co. Identify the balances that appear in the accounts receivable subsidiary ledger and the accounts receivable balance that appears in the general ledger at the end of January. $7,900 4,900 11,100 Subsidary Ledger Diaz Co. $ -/5 = Noble Co. Attempts: 0 of 5 used $ General L Submit Answer Question 2 of 7 View Policies Current Attempt in Progress Identify in what ledger (general or subsidiary) each of the following accounts is shown. a. C. d. Rent Expense. b. Accounts Receivable-Cabrera. < Accounts Notes Payable. Accounts Payable-Pacheco. Save for Later eTextbook and Media Ledger -/5 = 1 Attempts: 0 of 5 used Submit Answer Question 3 of 7 View Policies Current Attempt in Progress Identify the journal in which each of the following transactions is recorded. a. b. C. d. e. f. Cash sales. Transactions Owner withdrawal of cash. Cash purchase of land. Credit sales. Purchase of merchandise on account. Receipt of cash for services performed. eTextbook and Media Save for Later Journals > >> -/5 = 1 Attempts: 0 of 5 used Submit Answer View Policies Current Attempt in Progress Villar Co. uses special journals and a general journal. Identify the journal in which each of the following transactions is recorded assuming a one-column purchases journal. a. b. C. d. Transactions Purchased equipment on account. Purchased merchandise on account. Paid utility expense in cash. Sold merchandise on account. eTextbook and Media Save for Later Journals Attempts: 0 of 5 used Submit Answer Question 5 of 7 View Policies Current Attempt in Progress Sunland Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $324,100; the Accounts Payable control account had a credit balance of $83,300. The July transactions recorded in the special journals are summarized below. No entries affecting accounts receivable and accounts payable were recorded in the general journal for July. Sales journal Purchases journal Cash receipts journal Cash payments journal (a) (b) < What is the balance of the Accounts Receivable control account after the monthly postings on July 31? (c) The balance of the Accounts Receivable control account Save for Later (d). Total sales eTextbook and Media Total purchases Accounts receivable column total Accounts payable column total The balance of the Accounts Payable control account $ Save for Later What is the balance of the Accounts Payable control account after the monthly postings on July 31? eTextbook and Media Save for Later To what account(s) is the column total of $158,000 in the sales journal posted? eTextbook and Media Save for Later $158,000 $51,400 $137,100 $48,600 $ eTextbook and Media Attempts: 0 of 5 used Attempts: 0 of 5 used To what account(s) is the accounts receivable column total of $137,100 in the cash receipts journal posted? Attempts: 0 of 5 used -15 Attempts: 0 of 5 used Submit Answer Submit Answer Submit Answer Submit Answer Question 6 of 7 View Policies Current Attempt in Progress Cullumber Company has a balance in its Accounts Receivable control account of $11,000 on January 1, 2022. The subsidiary ledger contains three accounts: Bixler Company, balance $4,300; Cuddyer Company, balance $2,700; and Freeze Company. During January, the following receivable-related transactions occurred. Bixler Company Cuddyer Company Freeze Company (a) (b) (c) eTextbook and Media Save for Later What is the January 1 balance in the Freeze Company subsidiary account? Balance in the Freeze Company subsidiary account $ What is the January 31 balance in the control account? Balance in the control account $ Credit Sales Collections $9.300 eTextbook and Media Save for Later (d). Bixler Balances in the subsidiary accounts Cuddyer 7,500 8,300 Freeze Compute the balances in the subsidiary accounts at the end of the month. eTextbook and Media Save for Later Save for Later $7,500 2,300 9,200 $ Returns $ $ $0 3,000 0 Which January transaction would not be recorded in a special journal? eTextbook and Media -/5 E I Attempts: 0 of 5 used Submit Answer Attempts: 0 of 5 used Attempts: 0 of 5 used Submit Answer Submit Answer Attempts: 0 of 5 used Submit Answer On April 1, the accounts receivable ledger of Sheridan Company showed the following balances: Morrow $1,550, Rose $1,230, Jennings Co. $2,880, and Dent $2,100. The April transactions involving the receipt of cash were as follows. Apr. 1 10 11 4 5 8 23 29 (a) (b) Journalize the transactions above in a six-column cash receipts journal and cross-foot the journal. (Record entries in the order displayed in the problem statement. Round answers to 0 decimal places, e.g. 5,275.) (c) The owner, T.Sheridan, invested additional cash in the business $7,120. Received check for payment of account from Dent less 2% cash discount. Received payment in full for $880 from Jennings Co for invoice no. 307. Made cash sales of merchandise totaling $7,220. The cost of the merchandise sold was $4,332 Received payment in full for $595 from Morrow for invoice no. 309. Received cash refund from a supplier for damaged merchandise $745. Received payment in full for $1,180 from Jennings Co. for invoice no. 310. Received check for payment of account from Rose (no cash discount allowed). Date eTextbook and Media Save for Later Rose Accounts Receivable Dent Morrow Date Date Date Jennings Co. Date Account Credited Date Save for Later Explanation Ref. Balance Insert the beginning balances in the Accounts Receivable control and subsidiary accounts, and post the April transactions to these accounts. (Post entries in the order of entries presented in the previous part) General Ledger Total Balance Explanation Ref. Balance Balance eTextbook and Media Explanation Ref. Balance Accounts receivable balance: V Subsidiary account balances: CRI Explanation Ref. V $ $ CRI $ V Explanation Ref. CRI V CRI V V CRI V > > > > > > CRI Ref. 301 V V 120 V Debit Debit Accounts Receivable Subsidiary Ledger Debit Debit [[][] Cash Dr. Debit (101) Attempts: 0 of 5 used Credit Credit Credit Credit Sales Discounts Dr. (414) Credit Cash Recei Attempts: 0 of 5 used Submit Answer Prove the agreement of the control account and subsidiary account balances. (Do not list those accounts that have zero ending balance) Balance Balance Balance Balance Balance Submit Answer