GENERAL COMBINATION JOURNAL ACCOUNTS RECEIVABLE SALES DEBIT CREDIT CREDIT CASH DOC POST NO REF ACCOUNT TITLE SALES TAXI PAYABLE CREDIT ACCOUNTS PAYABLE DEBIT CREDIT PURCHASES DEBIT DEBIT CREDIT DEBIT CREDIT ed Forward 0 0 1,264.12 1,380.81 12,397 495.88 0 0 13,009.57 02 Page ACCOUNT TITLE DOC POST NO. REF GENERAL DEBIT CREDIT ACCOUNTS RECEIVABLE DEBIT CREDIT SALES CREDIT SALES TAX PAYABLE CREDIT ACCOUNTS PAYABLE DEBIT CREDIT PURCHASES DEBIT CASH DEBIT CREDIT Prove Debits = Credits Page Debits Credits Prove Cash (complete instructed) Cash on Hand (beginning) Plus Cash Debit Subtotal Minus Cash Credit Equals cash balance on hand at end of the month Checkbook Balance on the next unused check stut Page Debits Credits 11-5 MASTERY PROBLEM Journalizing sales and cash receipts transactions; proving and ruling a journal Jose Manuel and Beth Rose, partners, own Neat look, a clothing accessories boutique. Partial journal pages 19 and 20 for Neat Look are given in the Working Papers Instructions: 1. October 24 column totals to be carried forward have been entered on line 32 of journal page 19. Prove the equality of debits and credits and rule the column totals of journal page 19. 2. Record the totals brought forward from journal page 19 to line 1 of page 20 of the journal. Prove the equality of debits and credits again. 3. Journalize the following transactions completed during the remainder of October on journal page 20. Sales tax rate is 4%. Source documents are abbreviated as follows: receipt, R; sales invoice, S; cash reg: ister tape, T. Transactions: Oct. 25. Received cash on account from Bertha Libby, $143.00, covering S77. R104 26. Sold merchandise on account to Bertha Libby, $192.50, plus sales tox, $7 70; total, $200.20. 581. 27. Recorded cash and credit card sales, $2.915.00, plus sales tax, $116,60; total, $3,031.60.127 29. Received cash on account from Jack Olson, $97.24, covering 578. R105. 30. Sold merchandise on account to Lisa Gardiner, $104.50, plus sales tax, $4.18; total, $108.68. 582. 31. Recorded cash and credit card sales, $1,694.00, plus sales tax, $67.76; total, $1,761.76.131. 4. Total the journal. Prove the equality of debits and credits. 5. Rule the journal GENERAL COMBINATION JOURNAL ACCOUNTS RECEIVABLE SALES DEBIT CREDIT CREDIT CASH DOC POST NO REF ACCOUNT TITLE SALES TAXI PAYABLE CREDIT ACCOUNTS PAYABLE DEBIT CREDIT PURCHASES DEBIT DEBIT CREDIT DEBIT CREDIT ed Forward 0 0 1,264.12 1,380.81 12,397 495.88 0 0 13,009.57 02 Page ACCOUNT TITLE DOC POST NO. REF GENERAL DEBIT CREDIT ACCOUNTS RECEIVABLE DEBIT CREDIT SALES CREDIT SALES TAX PAYABLE CREDIT ACCOUNTS PAYABLE DEBIT CREDIT PURCHASES DEBIT CASH DEBIT CREDIT Prove Debits = Credits Page Debits Credits Prove Cash (complete instructed) Cash on Hand (beginning) Plus Cash Debit Subtotal Minus Cash Credit Equals cash balance on hand at end of the month Checkbook Balance on the next unused check stut Page Debits Credits 11-5 MASTERY PROBLEM Journalizing sales and cash receipts transactions; proving and ruling a journal Jose Manuel and Beth Rose, partners, own Neat look, a clothing accessories boutique. Partial journal pages 19 and 20 for Neat Look are given in the Working Papers Instructions: 1. October 24 column totals to be carried forward have been entered on line 32 of journal page 19. Prove the equality of debits and credits and rule the column totals of journal page 19. 2. Record the totals brought forward from journal page 19 to line 1 of page 20 of the journal. Prove the equality of debits and credits again. 3. Journalize the following transactions completed during the remainder of October on journal page 20. Sales tax rate is 4%. Source documents are abbreviated as follows: receipt, R; sales invoice, S; cash reg: ister tape, T. Transactions: Oct. 25. Received cash on account from Bertha Libby, $143.00, covering S77. R104 26. Sold merchandise on account to Bertha Libby, $192.50, plus sales tox, $7 70; total, $200.20. 581. 27. Recorded cash and credit card sales, $2.915.00, plus sales tax, $116,60; total, $3,031.60.127 29. Received cash on account from Jack Olson, $97.24, covering 578. R105. 30. Sold merchandise on account to Lisa Gardiner, $104.50, plus sales tax, $4.18; total, $108.68. 582. 31. Recorded cash and credit card sales, $1,694.00, plus sales tax, $67.76; total, $1,761.76.131. 4. Total the journal. Prove the equality of debits and credits. 5. Rule the journal