Question

Review your results from Short Exercise SC-10.
Requirements
1. Total each column of the cash payments journal.
2. Open the following four-column accounts in the accounts payable subsidiary ledger: Accounts Payable—King Co., Bal. $1,025. Post the transactions to the accounts payable subsidiary ledger.
3. Open the following selected four-column accounts in the general ledger: Cash (111), Bal. $6,500; Merchandise Inventory (118), $1,800; Equipment (150), $10,000; Accounts Payable (211), $1,025; Utilities Expense (541). Post the total of each column to the general ledger. Also, post the Other Accounts to the general ledger.
4. Balance the total of the vendor balances in the accounts payable subsidiary ledger against Accounts Payable in the general ledger.


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  • CreatedJune 15, 2015
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