Financial Accounting
14th Edition
ISBN: 9781305088436
Author: Carl Warren, Jim Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 5, Problem 1E
Using the following revenue journal for Zeta Services Inc., identify each of the posting references, indicated by a letter, as representing (1) posting to general ledger accounts or (2) posting to subsidiary ledger accounts:
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Using the following revenue journal for Bowman Cleaners Inc., identify each of the postingreferences, indicated by a letter, as representing (1) posting to general ledger accounts or(2) posting to subsidiary ledger accounts:
The subsidiary ledger that includes customer account activity is called the
a. asset ledger
b. accounts payable ledger
c. expense ledger
d. accounts receivable ledger
The Vendor Ledgers report displays the :Select one
A. Accounts receivable control account
B. Accounts Payable subsidiary ledger
C. Accounts receivable subsidiary ledger D. Accounts Payable control account
Chapter 5 Solutions
Financial Accounting
Ch. 5 - Why would a company maintain separate accounts...Ch. 5 - What are the major advantages of the use of...Ch. 5 - In recording 400 fees earned on account during a...Ch. 5 - How many postings to Fees Earned for the month...Ch. 5 - During the current month, the following errors...Ch. 5 - Assuming the use of a two-column general journal,...Ch. 5 - What is an electronic form, and how is it used in...Ch. 5 - Prob. 8DQCh. 5 - What happens to the special journal in a...Ch. 5 - Prob. 10DQ
Ch. 5 - The following revenue transactions occurred during...Ch. 5 - Prob. 1PEBCh. 5 - The debits and credits from two transactions are...Ch. 5 - The debits and credits from two transactions are...Ch. 5 - The following purchase transactions occurred...Ch. 5 - Prob. 3PEBCh. 5 - The debits and credits from two transactions are...Ch. 5 - Prob. 4PEBCh. 5 - McHale Company does business in two customer...Ch. 5 - Prob. 5PEBCh. 5 - Using the following revenue journal for Zeta...Ch. 5 - Based on the data presented in Exercise 5-1,...Ch. 5 - Assuming the use of a two-column (all-purpose)...Ch. 5 - Assuming the use of a two-column (all-purpose)...Ch. 5 - Prob. 5ECh. 5 - Global Services Company had the following...Ch. 5 - The revenue journal for Sapling Consulting Inc....Ch. 5 - The revenue and cash receipts journals for Mirage...Ch. 5 - Transactions related to revenue and cash receipts...Ch. 5 - Lasting Summer Inc. has 2,510 in the October 1...Ch. 5 - Prob. 11ECh. 5 - Using the following cash payments journal,...Ch. 5 - Prob. 13ECh. 5 - Prob. 14ECh. 5 - The purchases journal for Newmark Exterior...Ch. 5 - Prob. 16ECh. 5 - Prob. 17ECh. 5 - Prob. 18ECh. 5 - After Bunker Hill Assay Services Inc. had...Ch. 5 - Prob. 20ECh. 5 - Prob. 21ECh. 5 - Most computerized accounting systems use...Ch. 5 - Prob. 23ECh. 5 - For each of the following companies, determine...Ch. 5 - Starbucks Corporation reported the following...Ch. 5 - Prob. 26ECh. 5 - Prob. 27ECh. 5 - Sage Learning Centers was established on July 20,...Ch. 5 - Transactions related to revenue and cash receipts...Ch. 5 - Sterling Forest Landscaping designs and installs...Ch. 5 - AquaFresh Water Testing Service was established on...Ch. 5 - The transactions completed by Revere Courier...Ch. 5 - Guardian Security Services was established on...Ch. 5 - Transactions related to revenue and cash receipts...Ch. 5 - Prob. 3PBCh. 5 - Prob. 4PBCh. 5 - The transactions completed by AM Express Company...Ch. 5 - Ethics in Action Netbooks Inc. provides accounting...Ch. 5 - The following conversation took place between...Ch. 5 - A subsidiary ledger is used for accounts...Ch. 5 - For the past few years, your client, Omni Care,...Ch. 5 - Prob. 5CP
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- Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable.arrow_forwardPost the following entry to the general ledger and subsidiary ledger.arrow_forwardA subsidiary ledger that contains a separate account for each supplier (creditor) to the company is the a. Controlling account. b. Accounts payable ledger. c. Accounts receivable ledger. d. General ledger. e. Special journal.arrow_forward
- which of the following actions update/ record is: a master file, transactions file, special journal, general journal, general ledger or subsidiary ledger: a. record sales transactions on a manual accounting system. b. record adjusting journal entry on a manual accounting systemarrow_forwardIf the company has a multiple trasactions, what ledger should you post the trasaction?arrow_forwardUsing the following purchases journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required:arrow_forward
- In the revenue cycle, the most significant accounts typically include revenue and accounts receivable. (T/F)arrow_forwardThe schedule of accounts payable lists each creditors account balance, and the total equals the _________________. a. Controlling account in the journal b. Accounts Payable account in the general ledger c. Accounts Receivable account in the general ledger d. Purchases account in the general ledger e. Sales account in the general ledgerarrow_forwardWhat is the accounts receivable ledger? a. A record of credit customers and their balances b. A record of vendors and their balances c. Part of the sales journal d. Part of the general journal e. Part of the general ledgerarrow_forward
- Record the following transactions in the sales journal:arrow_forwardIndicate the order in which the following onscreen Vendors and Expenses transaction forms typically should be prepared. Expense > Pay Bills Check > Pay Bills Bill > Pay Bills Invoice > Pay Billsarrow_forwardWhich of the following items is considered an original source document? Select one: a. accounts receivable b. company expense account c. purchase order d. general ledgerarrow_forward
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Accounts Receivable and Accounts Payable; Author: The Finance Storyteller;https://www.youtube.com/watch?v=x_aUWbQa878;License: Standard Youtube License