Selected Accounts from the ledgers of Youngblood Company at July 31 showed the following.

Instructions

From the data prepare:

The single-column purchases journal for July
The general journal entries for July.

Solution

Youngblood Company

Youngblood Company

Problems: Accounting Information Systems

Problem-1: Accounting Information Systems

Kozma Company's chart of accounts includes the following selected accounts. 101 Cash112 Accounts Receivable120 Inventory301 Owner's Capital 401 Sales Revenue414 Sales Discounts505 Cost of Goods Sold On April 1, the...

Problem-2: Accounting Information Systems

Reineke Company's chart of accounts includes the following selected accounts. 101 Cash120 Merchandise Inventory130 Prepaid Insurance157 Equipment 201 Accounts Payable306 Owner's Drawings505 Cost of Goods Sold On October 1, the...

Problem-3: Accounting Information Systems

The chart of accounts of LR Company includes the following selected accounts. 112 Accounts Receivable120 Merchandise Inventory126 Supplies157 Equipment201 Accounts Payable 401 Sales412 Sales Returns and Allowances505 Cost of Goods...

Problem-4: Accounting Information Systems

Selected accounts from the chart of accounts of Mercer Company are shown below 101 Cash112 Accounts Receivable120 Inventory126 Supplies157 Equipment201 Accounts Payable 401 Sales412 Sales Returns and Allowances414 Sales Discounts505...

Problem-5: Accounting Information Systems

Presented below are the purchases and cash payments journals for Fornelli Co. for the first month of operations In addition, the following transactions have not been journalized for July. The...

Problem-6: Accounting Information Systems

The post-closing trial balance for Horner Co. is shown below. HORNER CO.Post-Closing Trial BalanceDecember 31, 2019. The subsidiary ledgers contain the following information: (1) accounts receivable - B. Hannigan $2,500,...

Problem-7: Accounting Information Systems

Nex Company uses both special journals and a general journal. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had...

Problem-8: Accounting Information Systems

Presented below is the subsidiary accounts receivable account of Jill Longley. Instructions -----Write a memo to Sara Fogelman, chief financial officer, that explains each transaction.

Problem-9: Accounting Information Systems

On September 1, the balance of the accounts Receivable control account in the general ledger of Montgomery company was $10,960. The customers' subsidiary ledger contained account balance as follows: Hurley...

Problem-10: Accounting Information Systems

Kieschnick company has a balance in its Account Receivable control account of $10,000 on January 1,2017. The subsidiary ledger contains there accounts: Bixler company, balance $4,000; Cuddyer company, balance $2,500;...

Problem-11: Accounting Information Systems

Pennington Company has a balance in its Accounts Payable control account of $9,250 on January 1,2017. The subsidiary ledger contains there accounts: Hale Company,balance $3,000; Janish Company, balance $1,875; and...

Problem-12: Accounting Information Systems

Gome Company Uses special journals and a general journal. the following transactions occurred during September 2017. Sept. 2Sold merchandise on account to H. Drew, invoice no. 101, $620, terms n/30....

Problem-13: Accounting Information Systems

Santiago Co.uses special journals and a general journal. The following transactions occurred during May 2019. May 1R. Santiago invested $40,000 cash in the business. 2Sold merchandise to Lawrie Co. for...

Problem-14: Accounting Information Systems

Francisco Company uses the columnar cash journals illustrated in the textbook. In April, the following selected cash transactions occurred. Made a refund to a customer as an allowance for damaged...

Problem-15: Accounting Information Systems

Hasselback Company has the following selected transactions during March. Mar. 2Purchased equipment costing $7,400 from Bole company on account. 5Received credit of $410 from Carwell Company for merchandise damaged in...

Problem-16: Accounting Information Systems

Below are some typical transactions incurred by. Ricketts Company. Payment of creditors on account. Return of merchandise sold for credit. Collection on account from customers. Sale of land for cash....

Problem-17: Accounting Information Systems

The general ledger of Hensley company contained the following Accounts payable control account ( in T-account from ). Also shown is the related subsidiary ledger. Instructions Indicate the missing posting...

Problem-18: Accounting Information Systems

Selected Accounts from the ledgers of Youngblood Company at July 31 showed the following. Instructions From the data prepare: The single-column purchases journal for July The general journal entries for...

Problem-19: Accounting Information Systems

Tresh Products uses both special journals and a general journal. Tresh also posts customers accounts in the accounts receivable subsidiary ledger. The postings for the most recent month are included...

Problem-20: Accounting Information Systems

Selected account balances for Hulse Company at January 1, 2019 are presented below. Accounts Payable$14,000 Accounts Receivable22,000 Cash17,000 Inventory13,500 Hulse's sales journal for January shows a total of $110,000 in...

Accounting Information Systems

Problem-18: Accounting Information Systems

Instructions

Solution

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