CH 7 Section 2 Exercises 25 2 points The accounts receivable ledger for Modern Vintage Antiques...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
CH 7 Section 2 Exercises 25 2 points The accounts receivable ledger for Modern Vintage Antiques follows below. Name: Stella Bianco Address: 917 Broadway, New York, NY 10018 Date Description 28x1 Post. Ref. Debit Credit Balance Jan.1 Balance Sunedia:tick.jpg 1,475 2 Sales Slip 1881 S1 640 2,115 eBook Name: Edward Charleston Address: 2822 5th Avenue, New York, NY 10018 Date Description Post. Ref. Debit Credit Balance 28x1 Hint Jan. 1 Balance Nedia: tick.jpg% 378 27 Sales Slip 1824 S1 189 567 31 CR1 184 383 Print References Name: Neal Feingold Address: 98 Houston Street, New York, NY 10018 Date Description Post. Ref. Debit Credit Balance 28x1 Jan. 1 Balance Nedia: tick.jpg% 324 15 Sales Slip 1812 CR1 324 9 31 $1 756 756 Name: Don Peterson Address: 5863 Park Avenue, New York, NY 10019 Date Description 28x1 Jan. 1 Balance Post. Ref. Debit Credit Balance media: tick.jpg% 648 20 Sales Slip S1 216 864 1819 21 CR1 450 414 22 Sales Slip 1822 $1 818 1,224 Name: Maria Sanchez Address: 2111 West 32nd Street, New York, NY 10019 Post. Ref. Debit Credit Balance Date Description media:tick.jpg% 28x1 Jan. 1 Balance 486 31 Sales $1 Slip 1840 2,214 2,700 Name: Ann Yang Address: 721 Lexington Avenue, New York, NY 10027 Date Description Post. Ref. 28x1 Jan. 1 Balance media: tick.jpg% 12 CR1 17 Sales Slip S1 1817 Debit Credit Balance 984 2,376 1,188 1,188 2,172 Required: Required: 1. Prepare a schedule of accounts receivable as of January 31, 20X1. 2. What should be the balance in the Accounts Receivable (control) account? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of accounts receivable as of January 31, 20x1. MODERN VINTAGE ANTIQUES Schedule of Accounts Receivable January 31, 20X1 Required: 1. Prepare a schedule of accounts receivable as of January 31, 20X1. 2. What should be the balance in the Accounts Receivable (control) account? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What should be the balance in the Accounts Receivable (control) account? Accounts receivable balance < Required 1 Required 2 > CH 7 Section 2 Exercises 25 2 points The accounts receivable ledger for Modern Vintage Antiques follows below. Name: Stella Bianco Address: 917 Broadway, New York, NY 10018 Date Description 28x1 Post. Ref. Debit Credit Balance Jan.1 Balance Sunedia:tick.jpg 1,475 2 Sales Slip 1881 S1 640 2,115 eBook Name: Edward Charleston Address: 2822 5th Avenue, New York, NY 10018 Date Description Post. Ref. Debit Credit Balance 28x1 Hint Jan. 1 Balance Nedia: tick.jpg% 378 27 Sales Slip 1824 S1 189 567 31 CR1 184 383 Print References Name: Neal Feingold Address: 98 Houston Street, New York, NY 10018 Date Description Post. Ref. Debit Credit Balance 28x1 Jan. 1 Balance Nedia: tick.jpg% 324 15 Sales Slip 1812 CR1 324 9 31 $1 756 756 Name: Don Peterson Address: 5863 Park Avenue, New York, NY 10019 Date Description 28x1 Jan. 1 Balance Post. Ref. Debit Credit Balance media: tick.jpg% 648 20 Sales Slip S1 216 864 1819 21 CR1 450 414 22 Sales Slip 1822 $1 818 1,224 Name: Maria Sanchez Address: 2111 West 32nd Street, New York, NY 10019 Post. Ref. Debit Credit Balance Date Description media:tick.jpg% 28x1 Jan. 1 Balance 486 31 Sales $1 Slip 1840 2,214 2,700 Name: Ann Yang Address: 721 Lexington Avenue, New York, NY 10027 Date Description Post. Ref. 28x1 Jan. 1 Balance media: tick.jpg% 12 CR1 17 Sales Slip S1 1817 Debit Credit Balance 984 2,376 1,188 1,188 2,172 Required: Required: 1. Prepare a schedule of accounts receivable as of January 31, 20X1. 2. What should be the balance in the Accounts Receivable (control) account? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of accounts receivable as of January 31, 20x1. MODERN VINTAGE ANTIQUES Schedule of Accounts Receivable January 31, 20X1 Required: 1. Prepare a schedule of accounts receivable as of January 31, 20X1. 2. What should be the balance in the Accounts Receivable (control) account? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What should be the balance in the Accounts Receivable (control) account? Accounts receivable balance < Required 1 Required 2 >
Expert Answer:
Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date:
Students also viewed these accounting questions
-
The accounts receivable ledger for The Old Country Barn follows on the next page. 1. Prepare a schedule of accounts receivable as of January 31, 2016. 2. What should the balance in the Accounts...
-
Suppose one British pound can purchase 1.32 U.S. dollars today in the foreign exchange market, and currency forecasters predict that the British pound will depreciate by 22% against the U.S. dollar...
-
A car costs 12,000. It will be kept for three years, and then sold for 3,000. Calculate the depreciation for each year using (a) the reducing balance method, using a depreciation rate of 35 per cent,...
-
Compute the following items for the statement of cash flows: a. Beginning and ending Accounts Receivable are $47,000 and $53,000, respectively. Credit sales for the period total $141,000. How much...
-
Reconsider Prob. 1482. How far will the temperature of the humid air have to be reduced to produce the desired dehumidification? Data From Reconsider Prob. 1482: On a summer day in New Orleans,...
-
Calculate the energy density versus temperature very early in the universe when the temperatures were above \(k T=300 \mathrm{MeV}\). At those temperatures, quarks and gluons were released from...
-
Marlin Company has suspected something fishy for several months. It has noticed that its profits have been slowly decreasing, while revenues have been increasing. After consulting with you, a fraud...
-
DATABASE SYSTEMS What is a key and how is it important in a relational model?
-
what qualitative and quantitative data does a chart that includes the following information have: employee numbers, employee salaries, bonuses, and overtime rates, departments, performance scores,...
-
The following is the trial balance of Mr. Deepak as on March 31, 2005. You are required to prepare trading account, profit and loss account and a balance sheet as on date : Closing stock Rs. 35,000....
-
Refer to the information provided for Wong Company in EC-2. Instructions (a) Draw cash receipts and cash payments journals (see Illustrations C-5 and C-7) and a general journal. Use page 1 for each...
-
Thomas has allocated $48 per month for entertainment expenses, which he uses either to go bowling or to play billiards. One night of bowling costs Thomas $8, and one night of billiards costs Thomas...
-
From a macro-environmental perspective, consider the extent to which digital channels are replacing physical channels.
-
The following facts have been extracted from the 65th Annual Report of Tata Motors Limited for the year 200910. (Necessary simplification has been made wherever required.) By making necessary...
-
Record the following transactions on the books of RAS Co. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) On July 1, MS Co. sold merchandise on...
-
Repeat Exercise 16.6 using the t-test of the coefficient of correlation. Is this result identical to the one you produced in Exercise 16.6?
-
What role does the registrar of a corporation serve?
-
The schedule of accounts receivable by age shown below was prepared for the Custom Windows Shop at the end of the firm's fiscal year on July 31, 2016: Custom Windows Shop Schedule of Accounts...
-
King Company makes a single product that it sells to retail stores. The firm's finishing department uses hand labor to perform its work on all products. A proposal has been made by the company's vice...
-
You are managing the development of a case tracking system project for your large law firm. The requirements phase of the project is almost complete, and preliminary design work has begun. The...
-
At the conclusion of this chapter, the textbook mentions that data and process modeling may eventually become obsolete due to the increasing popularity and usage of object-oriented modeling and...
-
Although data and process models depict the same system with different views, systemi designers must synchronize these different views to make sure that their models are consistent and complete. One...
Study smarter with the SolutionInn App