Selected accounts from the ledgers of Ramos Company at July 31 showed the following. Instructions From the
Question:
Selected accounts from the ledgers of Ramos Company at July 31 showed the following.
Instructions
From the data prepare:
(a) The single-column purchases journal for July.
(b) The general journal entries for July.
Transcribed Image Text:
GENERAL LEDGER No. 153 Invento No. 120 Date ation Ref. Debit Credit Balance Date lanation Ref. Debit Credit Balance G1 3,900 3,900 July 15 18 25 G1 G1 G1 P1 8,500 600 No. 201 Ref. Debi Credit Balance 3,900 4,500 4,120 3,920 8,50012,420 380 220 Date 8,520 July 1 15 18 25 31 G1 G1 G1 380 G1 200 P1 3,900 5 ACCOUNTS PAYABLE LEDGER Alaska Equi ation Ref. Debit CreditBalance Date Date tion Ref. De Credit Balance G1 3,9003,900 July 14 1,300 1,100 G1 200 Carolina Co. Date July 3 Ref. Debit Credit Balance Date lanation Ref.Debit Credit Balance P1 2,400 2,400 July 12 2 P1 20 3,100 1,100 Florida Corp Oklahoma Inc. Date Explanation Ref. DebCredit Balance Date Explanation Ref. Debit Credit Balance July 17 P1 G1 380 P1 1.400 1,400 July 15 G1 1,020 2,620 1,600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
a Purchases Journal P1 Date Account Credited Ref Inventory Dr Accounts Payable Cr J...View the full answer
Answered By
Chiranjib Thakur
I have no tutoring experience yet, but I can share my skills and knowledge gained from my education and work experiences. I have been a CPA since 2012 with 6 years of work experience in internal auditing and 4 years of work experience in accounting at the supervisory level.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Question Posted:
Students also viewed these Cost Accounting questions
-
Selected accounts from the ledgers of Masud Company at July 31 showed the following. Instructions From the data prepare: (a) The single-column purchases journal for July. (b) The general journal...
-
Selected accounts from the ledgers of Lockhart Company at July 31 showed the following. InstructionsFrom the data prepare:(a) The single-column purchases journal for July.(b) The general journal...
-
Selected accounts from the ledgers of Kaylee Frye Company at July 31 showed the following. InstructionsFrom the data prepare:(a) The single-column purchases journal for July.(b) The general journal...
-
The adjusted trial balances of Rosa Corporation at August 31, 2014, and August 31, 2013, include these amounts (in millions): Rosa completed these transactions (in millions) during the year ended...
-
In recent years, stock price averages (such as the Dow Jones Industrial Average) have shown sensitivity to changes in interest rates. Based on your understanding of the factors that determine stock...
-
Recording Stock Issuances with Par Value In a recent year, Coach, Inc., a designer and marketer of handbags and other accessories, issued 10,200 shares of its $0.01 par value stock for $43,000 (these...
-
What types of activities are included in the role of sales manager?
-
Mason, Jiri, and James are partners in Woodware Company. Their capital balances as of July 31, 2014, are as follows. Each partner has agreed to admit Frank to the partnership. Required 1. Prepare the...
-
Texas Roadhouse opened a new restaurant in October. During its first three months of operation, the restaurant sold gift cards in various amounts totaling $2,200. The cards are redeemable for meals...
-
Janette Douglas is coordinating a bake sale for a nonprofit organization. The organization has acquired $ 2,200 in donations to hold the sale. The following table shows the amounts and costs of...
-
The general ledger of Raysom Company contained the following Accounts Payable control account (in T-account form). Also shown is the related subsidiary ledger Instructions (a) Indicate the missing...
-
Castro Products uses both special journals and a general journal as described in this appendix. Castro also posts customers' accounts in the accounts receivable subsidiary ledger. The postings for...
-
Bells ring because they have a low loss (or damping) coefficient, \(\eta\); a high damping gives a dead sound. Use the Loss coefficient-Modulus \((\eta-E)\) chart of Fig. 3.9 to identify material...
-
ABC firm has a ROA of 15%, Net Profit Margin of 2% and ROE of 19%. What is its Equity Multiplier?
-
= = XiYj. 4. (4 points) The outer product of x and y = R^ is the matrix A - xy with entries Aj Suppose = fl(xy) and derive the componentwise forward error estimate | A| |A|u, where u is the unit...
-
. An urn has 10 balls that are identical except that7are white and 3 are red. A sample of 8 is selected randomly without replacement. What is the probability that exactly 6 are white and2are red?...
-
Consider the following system of equations: x-y=2 x+y=4 2x + y = 8 How many solutions exist for the above system of equations? If a solution exists, find one, if not, determine the least squares...
-
For the experiment of rolling an ordinary pair of dice, find the probability that the sum will be less than 4 or greater than 6. The probability that the sum will be less than 4 or greater than 6 is...
-
Why is it necessary to bubble hydrogen through the electrolyte in a hydrogen electrode?
-
Ex. (17): the vector field F = x i-zj + yz k is defined over the volume of the cuboid given by 0x a,0 y b, 0zc, enclosing the surface S. Evaluate the surface integral ff, F. ds?
-
Julie Vopat wishes to invest $18,000 on July 1, 2014, and have it accumulate to $50,000 by July 1, 2024. Use a financial calculator to determine at what exact annual rate of interest Julie must...
-
On July 17, 2014, Billy Prater borrowed $60,000 from his grandfather to open a clothing store. Starting July 17, 2020, Billy has to make 10 equal annual payments of $8,860 each to repay the loan. Use...
-
As the purchaser of a new house, Manuel Rodriguez has signed a mortgage note to pay the Nashville National Bank and Trust Co. $8,400 every 6 months for 20 years, at the end of which time he will own...
-
Multiplication of signed operands, which generate a double-length product in the 2's-complement 100 11 MULTIPLICAND (-13) 0 10 1 1 MULTIPLIER (+11) number system. The general strategy is the...
-
panel = Drawing Panel (160, 160) for i in range (0, 10): panel.draw rectangle (20, 20 + 100 10 * 1, 10 i, 10) Write variations of the above program that draw the figures at the lower right as output....
-
John estimated the following cash flows (in $) for a project: A B 1 Year Cash flow 2 0 -5,700 3 1 1,325 4 2 2,148 5 3 3,528 The required return for the project is 8%. What is the IRR for the project?
Study smarter with the SolutionInn App