Question: Please help me with these Practice Problems Reference: Accounting Information Systems, Savage, Brannock, and Foksinska, 1st Edition Enter transactions to the appropriate journals (Sales, Purchases,
Please help me with these Practice Problems
Reference: Accounting Information Systems, Savage, Brannock, and Foksinska, 1st Edition


Enter transactions to the appropriate journals (Sales, Purchases, Cash Receipts, Cash Disbursements or General Journal). An example is shown for each special journal transactions b, c, d and k. You do not need to enter those transactions again but be sure to include those items in your transaction totals. a) Hint: before you begin go down the list of transaction and decide what journal it goes in. Post to the appropriate subledgers (if applicable.) a) Hint: use the post column to keep yourself organized as to which amounts you have transferred to the ledgers. Post to the general ledger accounts. a) Hint: if there are several transactions to the same account in a special journal, you 0111): transfer the total to the general ledger. Calculate a total for each general ledger account. Draw a line under the last transaction and then the total amount on the side (debit or credit) that has an account balance. Prepare a trial balance using the totals from each general ledger. Prepare a multi-step Income Statement, complete with a 3 line header. Produce a nicely formatted, high quality work product. Prepare a classied Balance Sheet (separate current assets from long terrn and current liabilities from longterrn.) Be sure to include the 3 line header. Produce a nicely formatted, high quality work product. Prepare simple schedules of AR and AP to test the accuracy of the subledgers. (nice formatting is not necessary for these.) \f
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