Study Guide Name Identifying Accounting Terms Analyzing Accounting Concepts and Practices Analyzing Transactions Recorded in Special Journals Total Perfect Score Pts. Pts. Pts. 0 Pts. Your Score Part One Identifying Accounting Terms Directions: Select the one term in Column I that best fits each definition in Column II. Print the letter identifying your choice in the Answers column. A. capital stock Column I B. cash discount C. cash payments journal D. contra account E. corporation F. cost of merchandise G. debit memorandum H. list price I. markup J. purchase invoice K. purchase on account L. purchases allowance M. purchases discount N. purchases return O. share of stock P. stockholder Q. terms of sale R. trade discount S. vendor Column II. An organization with the legal rights of a person and which many persons may own. (p. ). Each unit of ownership in a corporation. (p. ). Total shares of ownership in a corporation. (p. ). An owner of one or more shares of a corporation. (p. ). The price a business pays for goods it purchases to sell. (p. ). The amount added to the cost of merchandise to establish the selling price. (p. ). A business from which merchandise is purchased or supplies or other assets are bought. (p. ). A transaction in which the merchandise purchased is to be paid for later. (p. ). An invoice used as a source document for recording a purchase on account transaction. (p. ) 0. An agreement between a buyer and a seller about payment for merchandise. (p. ). A special journal used to record only cash payment transactions. (p. ). A deduction that a vendor allows on the invoice amount to encourage prompt payment. (p. ). A cash discount on purchases taken by a customer. (p. ). The retail price listed in a catalog or on an Internet site. (p. ). A reduction in the list price granted to customers. (p. ). An account that reduces a related account on a financial statement. (p. ). Credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer s accounts payable. (p. ). Credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customer s accounts payable. (p. ). A form prepared by the customer showing the price deduction taken by the customer for returns and allowances. (p. ) Answers. E. O. A. P. F. I. S. K. J 0. Q. C. B. M. H. R. D. N. L. G COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING Chapter
Part Two Analyzing Accounting Concepts and Practices Directions: Place a T for True or an F for False in the Answers column to show whether each of the following statements is true or false.. Unlike a proprietorship, a corporation exists independent of its owners. (p. ). A corporation can incur liabilities but cannot own property. (p. ). As in proprietorships, information in a corporation's accounting system is kept separate from the personal records of the owners, and this accounting concept application is called a Business Entity. (p. ). The selling price of merchandise must be greater than the cost of merchandise for a business to make a profit. (p. ). The cost account Purchases is used only to record the value of merchandise purchased. (p. ). When purchases are recorded at their cost, including any related shipping costs and taxes, the Historical Cost accounting concept is being applied. (p. ). Recording entries in a journal with special amount columns saves time. (p. ). All purchase transactions, including purchases made on account and purchases made for cash, are recorded in the purchases journal. (p. ). The source document for recording a purchase on account transaction is a memorandum describing the merchandise purchased. (p. ) 0. By listing the quantity, the description, the price of each item, and the total amount purchased, the Objective Evidence concept is applied. (p. ). A purchase invoice usually lists only the total cost of the merchandise. (p. ). A purchase on account transaction increases the amount owed to a vendor. (p. ). A cash payments journal includes a special amount column for the cash account and the accounts payable account. (p. ). The source document for most cash payments is the check issued. (p. ). When supplies are purchased for use in the business, the amount is recorded in the purchases account. (p. ). A special journal entry is made to show the amount of a trade discount. (p. ). The terms of sale /, n/0 mean that % of the invoice amount may be deducted if paid within days of the invoice date or the total invoice amount must be paid within 0 days. (p. ). Purchase discounts are recorded in the general journal. (p. ). The contra account Purchases Discount has a normal credit balance. (p. ) 0. The custodian prepares a petty cash report when the petty cash fund is to be replenished. (p. ). The petty cash account Cash Short and Over is a permanent account. (p. ). A journal is proved and ruled only at the end of a fiscal period. (p. 0). To begin a new journal page, the totals from the previous journal page are carried forward to the next journal page. (p. ). Buying supplies on account is recorded in the general journal. (p. ). When supplies are purchased on account, the Store Supplies account balance increases and the Accounts Payable account balance increases. (p. ). The source document for a purchases return is a check. (p. ). The normal account balance of Purchases Returns and Allowances is a credit. (p. ) Answers. T. F. T. T. T. T. T. F. F 0. T. F. T. T. T. F. F. T. F. T 0. T. F. F. T. T. T. F. T 0 Working Papers TE CENTURY ACCOUNTING, TH EDITION
Name Date Class Part Three Analyzing Transactions Recorded in Special Journals Directions: In Answers Column l, print the abbreviation for the journal in which each transaction is to be recorded. In Answers Columns and, print the letters identifying the accounts to be debited and credited for each transaction. PJ Purchases journal; GJ General journal; CPJ Cash payments journal Account Titles A. Accounts Payable B. Cash C. Cash Short and Over D. Miscellaneous Expense E. Petty Cash F. Purchases G. Purchases Discount H. Purchases Returns and Allowances I. Rent Expense J. Supplies K. Tri-County Suppliers L. Wixom Sports M. Yukon Outfitters Transactions. Purchased merchandise on account from Wixom Sports. (p. ). Paid cash for rent. (p. ). Purchased merchandise for cash. (p. ) 0. Paid cash on account to Wixom Sports, less purchases discount. (p. ). Paid cash on account to Tri-County Suppliers. (p. ). Paid cash to replenish the petty cash fund: supplies, miscellaneous, cash over. (p. ) 0. Bought supplies on account from Yukon Outfitters. (p. ). Returned merchandise to Tri-County Suppliers. (p. ) Answers Journal Debit Credit. PJ. F. A, L. CPJ. I. B. CPJ. F. B 0. CPJ. A, L. B, G. CPJ. A, K. B. CPJ. D, J. B, C. GJ 0. J. A, M. GJ. A, K. H COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING Chapter
Study Skills Skimming and Careful Reading We must learn to use different techniques as we read. Sometimes we need to skim material very quickly, touching only the high points. At other times we need to read slowly and carefully, concentrating on every word. Skimming Skimming helps you gain a general understanding of what is contained in material without slow and careful reading. You may wish to skim a magazine article to determine if it contains information you want to read carefully later. You can use skimming to preview an assignment before you read for details. You should first read the title and the introduction quickly. You should then read the main headings and glance through the paragraphs. By skimming first, you will know what is included before you become involved in the details. If you own the book, you may wish to use a highlighter sparingly as you skim. This will help call your attention to certain parts of a selection later. If you highlight too much, it will be of little help to you. You can also use skimming to review material that you have studied previously. Before an exam, for example, you may want to read quickly through the material to be sure that you have not forgotten any important points. Careful Reading Many times you will be responsible for every detail in a reading assignment. You may have to remember names, dates, and facts that are of great importance. Before you read for details, you should skim the material first to gain an overview. Then you should read it slowly and carefully. As you read carefully, you should ask yourself what is included in each paragraph. If you can summarize each paragraph as you read, you will have a good understanding. Then you should determine if you can remember names, dates, and other details. If you cannot, you should read the material again, concentrating on the details while keeping the overall picture in mind. Conclusion Skimming and careful reading are techniques that will be extremely useful to you in the future. You should know which technique to use and be sure to use it properly. Skimming will give you an overall view of the material. Careful reading will ensure that you know the details. Working Papers TE CENTURY ACCOUNTING, TH EDITION
Name Date Class - WORK TOGETHER, p. Journalizing purchases using a purchases journal PURCHASES JOURNAL PAGE 0 DATE 0 Oct. American Tools ACCOUNT ED PURCH. PURCHASES DR. ACCTS. PAY. CR. 000 Harris Manufacturing, Inc. 000 Keasler Supply 000 Total 000 0 0 0 0 0 0 Chapter Journalizing Purchases and Cash Payments
- ON YOUR OWN, p. Journalizing purchases using a purchases journal PURCHASES JOURNAL PAGE DATE 0 Nov. Ulman Supply, Inc. ACCOUNT ED PURCH. PURCHASES DR. ACCTS. PAY. CR. 000 Else Silver Co. 0 00 Pratt Paints 000 0 Total 00 0 0 0 0 0 0 Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class - WORK TOGETHER, p. Journalizing cash payments using a cash payments journal DATE ACCOUNT TITLE 0 Oct. Utilities Expense Supplies Office Purchases West Supply Quill Forest Products CASH PAYMENTS JOURNAL PAGE 0 CK. GENERAL DEBIT 00 00 000 ACCOUNTS PAYABLE DEBIT 000 000 PURCHASES DISCOUNT 0 CASH 00 00 000 0 000 0 0 0 0 Chapter Journalizing Purchases and Cash Payments
- ON YOUR OWN, p. Journalizing cash payments using a cash payments journal DATE ACCOUNT TITLE 0 Nov. Utilities Expense Supplies Office Purchases Racing Images SPL Renovations CASH PAYMENTS JOURNAL PAGE CK. GENERAL DEBIT 00 00 0000 ACCOUNTS PAYABLE DEBIT 000 00 PURCHASES DISCOUNT 0 CASH 00 00 0000 0 00 0 0 0 0 Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class - WORK TOGETHER, p. Performing other cash payments journal operations DATE ACCOUNT TITLE CASH PAYMENTS JOURNAL CK. DEBIT GENERAL ACCOUNTS PAYABLE DEBIT PURCHASES DISCOUNT PAGE CASH Supplies Ace Manufacturing Carried Forward 0 0 0 0 0 0 Mar. DATE Brought Forward Supplies Office Supplies Store Miscellaneous Expense Cash Short and Over Totals ACCOUNT TITLE CASH PAYMENTS JOURNAL PAGE CK. GENERAL DEBIT ACCOUNTS PAYABLE DEBIT 0 0 PURCHASES DISCOUNT CASH 0 PETTY CASH REPORT Date: March,0-- Custodian: Kevin Tomlinson Fund Total Payments: Explanation Supplies Office Supplies Store Miscellaneous... Reconciliation 00.00 Replenish Amount Less: Total payments Equals: Recorded amount on hand Less: Actual amount on hand Equals: Cash short (over) Amount to Replenish 0.. 0. (.) 0. (.). Debit Credit Column Title Column Totals Column Totals General Debit.................... $,. General Credit................... $. Accounts Payable Debit............,.0 Purchases Discount Credit........... Cash Credit.....................,. Totals.......................... $,.0 $,.0 Chapter Journalizing Purchases and Cash Payments
- ON YOUR OWN, p. Performing other cash payments journal operations DATE ACCOUNT TITLE CASH PAYMENTS JOURNAL CK. DEBIT GENERAL ACCOUNTS PAYABLE DEBIT PURCHASES DISCOUNT PAGE CASH Advertising Expense GRF Manufacturing, Inc. Carried Forward 0000 00 0 0 0000 DATE 0 June 0 Brought Forward Supplies Office ACCOUNT TITLE CASH PAYMENTS JOURNAL PAGE CK. GENERAL ACCOUNTS PURCHASES PAYABLE DISCOUNT DEBIT DEBIT 0 CASH Supplies Store Miscellaneous Expense Repair Expense Cash Short and Over 0 0 Totals 0 0 PETTY CASH REPORT Date: June 0,0-- Custodian: Jerri Harris Explanation Fund Total Payments: Supplies Office Supplies Store Miscellaneous Repairs Less: Total payments Equals: Recorded amount on hand Less: Actual amount on hand Equals: Cash short (over) Amount to Replenish.... Reconciliation 0.00.0.0. 0. Replenish Amount.0 0.. Debit Credit Column Title Column Totals Column Totals General Debit.................... $,. General Credit................... $. Accounts Payable Debit............,.0 Purchases Discount Credit........... Cash Credit.....................,0. Totals.......................... $0,0. $0,0. Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class - WORK TOGETHER and ON YOUR OWN, p. Journalizing other transactions using a general journal GENERAL JOURNAL PAGE DATE ACCOUNT TITLE DEBIT 0 Oct. Supplies Store Accounts Payable/Designer Supplies Accounts Payable/Hendrix Products Purchases Returns and Allow. Supplies Office Accounts Payable/Office Express Accounts Payable/Fretz Industries Purchases Returns and Allow. DOC. M DM M DM 000 000 000 00 000 000 000 00 0 0 0 0 Work Together - On Your Own - Chapter Journalizing Purchases and Cash Payments
- APPLICATION PROBLEM, p. 0 Journalizing purchases using a purchases journal PURCHASES JOURNAL PAGE DATE 0 Sept. Woodland Appliances ACCOUNT ED PURCH. PURCHASES DR. ACCTS. PAY. CR. 0000 Quality Wholesalers 000 East Gate Appliances 000 Winston, Inc. 0000 Woodland Appliances 0000 0 Total 0000 0 0 0 0 0 0 00 Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class - APPLICATION PROBLEM, p. 0 Journalizing cash payments using a cash payments journal 0 DATE ACCOUNT TITLE 0 Nov. 0 Utilities Expense The Pro Shop Advertising Expense Athletic Center Supplies Office Purchases Supplies Store Purchases Purchases Best Clothing Trophy Sports Carried Forward CASH PAYMENTS JOURNAL PAGE CK. 0 GENERAL DEBIT 00 00 000 00 00 000 0000 00 ACCOUNTS PAYABLE DEBIT 000 00 00 0000 0000 PURCHASES DISCOUNT 00 00 00 CASH 00 00 00 00 000 00 00 000 0000 00 000 00 Debit Credit Column Title Column Totals Column Totals General Debit.................... $,.00 General Credit................... Accounts Payable Debit............,00.00 Purchases Discount Credit.......... $.00 Cash Credit.....................,.00 Totals.......................... $,0.00 $,0.00 Note: Line of the journal and the journal proof above are completed in Application Problem -. 0 Chapter Journalizing Purchases and Cash Payments 0
- APPLICATION PROBLEM, p. Preparing a petty cash report PETTY CASH REPORT Date: January, 0-- Custodian: Kevin Tomlinson Fund Total Payments: Explanation Supplies Office Advertising Miscellaneous.0 0.00. Reconciliation 00.00 Replenish Amount Less: Total payments Equals: Recorded amount on hand Less: Actual amount on hand Equals: Cash short (over) Amount to Replenish.. 0. 0.. 0.. - APPLICATION PROBLEM, p. Performing additional cash payments journal operations. PETTY CASH REPORT Date: November 0, 0-- Custodian: Wendy Morris Fund Total Payments: Explanation Supplies Office Supplies Store Miscellaneous... Reconciliation 0.00 Replenish Amount Less: Total payments Equals: Recorded amount on hand Less: Actual amount on hand Equals: Cash short (over) Amount to Replenish...0.... 0 Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class - APPLICATION PROBLEM (concluded).,.,.,. DATE ACCOUNT TITLE 0 Nov. 0 0 0 Brought Forward Supplies Office Supplies Store Miscellaneous Expense Cash Short and Over Totals CASH PAYMENTS JOURNAL PAGE CK. GENERAL DEBIT 00 0 ACCOUNTS PAYABLE DEBIT 0000 0000 PURCHASES DISCOUNT 00 00 CASH 00 0 Debit Credit Column Title Column Totals Column Totals General Debit.................... $,0. General Credit................... Accounts Payable Debit............,00.00 Purchases Discount Credit.......... $.00 Cash Credit.....................,. Totals.......................... $,. $,. 0 Chapter Journalizing Purchases and Cash Payments 0
- APPLICATION PROBLEM, p. Journalizing other transactions using a general journal GENERAL JOURNAL PAGE 0 0 DATE ACCOUNT TITLE DOC. DEBIT 0 Oct. Supplies Store M 00 Accounts Payable/Displays Warehouse Accounts Payable/Hendrix Products Purchases Returns and Allow. Supplies Office Accounts Payable/Office Express Accounts Payable/T-J Designs Purchases Returns and Allow. Supplies Store Accounts Payable/Classic Fixtures DM M0 DM M 000 00 000 000 00 000 00 000 000 0 0 0 0 0 0 Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class - MASTERY PROBLEM, pp., Journalizing purchases, cash payments, and other transactions.,. 0 DATE ACCOUNT TITLE 0 July 0 0 Pacific Industries Advertising Expense American Semiconductor Utilities Expense Woodland Computers Supplies Office Purchases Farris Cable Purchases Purchases Keel, Inc. Supplies Store NewWave Electronics Carried Forward CASH PAYMENTS JOURNAL PAGE CK. 0 GENERAL DEBIT 000 00 00 00 00 00 00 000 ACCOUNTS PAYABLE DEBIT 0000 000 0000 00 000 000 00 PURCHASES DISCOUNT 00 00 0 0 CASH 00 000 000 00 00 00 00 00 00 00 00 00 000 0. Debit Credit Column Title Column Totals Column Totals General Debit.................... $,0.00 General Credit................... Accounts Payable Debit............,.00 Purchases Discount Credit.......... $.0 Cash Credit.....................,.0 Totals.......................... $,0.00 $,0.00 0 Chapter Journalizing Purchases and Cash Payments 0
- MASTERY PROBLEM (continued).,. PURCHASES JOURNAL PAGE DATE 0 July Woodland Computers NewWave Electronics ACCOUNT ED PURCH. PURCHASES DR. ACCTS. PAY. CR. 0000 000 Helms Supply 000 Keel, Inc. 000 Woodland Computers 0000 Total 000 0 0. GENERAL JOURNAL PAGE DATE ACCOUNT TITLE DOC. DEBIT 0 July Supplies Store M 00 0 Accounts Payable/Willcut & Bishop Accounts Payable/NewWave Electronics Purchases Returns and Allow. Supplies Office Accounts Payable/Office Express Accounts Payable/Woodland Computers Purchases Returns and Allow. DM M0 DM 000 000 000 00 000 000 000 0 0 0 Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class - MASTERY PROBLEM (concluded).,.,.,. DATE ACCOUNT TITLE 0 July Brought Forward Helms Supply Supplies Office Supplies Store Miscellaneous Expense Cash Short and Over Totals CASH PAYMENTS JOURNAL PAGE CK. GENERAL DEBIT 000 0 0 ACCOUNTS PAYABLE DEBIT 00 000 00 PURCHASES DISCOUNT 0 0 CASH 0 000 0. Debit Credit Column Title Column Totals Column Totals General Debit.................... $,. General Credit................... $ 0. Accounts Payable Debit............,.00 Purchases Discount Credit...........0 Cash Credit.....................,0. Totals.......................... $,. $,. Chapter Journalizing Purchases and Cash Payments 0
- CHALLENGE PROBLEM, p. Journalizing purchases, cash payments, and other transactions. PURCHASES JOURNAL PAGE DATE 0 Nov. Central Fitness ACCOUNT ED PURCH. PURCHASES DR. ACCTS. PAY. CR. 000 Trackmaster 0000 0 0 0 0 0 Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class - CHALLENGE PROBLEM (continued). 0 DATE ACCOUNT TITLE 0 Nov. 0 0 Rent Expense Purchases Pacer Equipment Supplies Office Central Fitness Prepaid Insurance Trackmaster Meda Store Supplies Supplies Office Supplies Store Advertising Expense Miscellaneous Expense Cash Short and Over CASH PAYMENTS JOURNAL PAGE CK. 0 GENERAL DEBIT 0000 000 00 000 00 00 00 00 00 ACCOUNTS PAYABLE DEBIT 0000 0000 0000 000 PURCHASES DISCOUNT 00 00 CASH 0000 000 0000 00 00 000 00 000 000 0 Chapter Journalizing Purchases and Cash Payments 0
- CHALLENGE PROBLEM (continued). GENERAL JOURNAL PAGE DATE ACCOUNT TITLE DOC. DEBIT 0 Nov. Supplies Store M 000 0 0 0 Accounts Payable/Meda Store Supplies Accounts Payable/Central Fitness Purchases Returns and Allow. DM 000 000 000 0 0 0 0 Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class - CHALLENGE PROBLEM (concluded). a. For any other transactions that occur frequently. For example, if a business frequently purchases merchandise for cash, a Purchases Debit amount column could be added. b. There are circumstances where either entry could be correct. Insurance premiums paid in advance technically are assets until the insurance is used up. If premiums are paid in advance for a long period of time, such as one or two years, a business probably would record the premium as an asset, Prepaid Insurance. Then each period financial statements are prepared, record the portion used up as an expense; thus, the asset would be reduced gradually. However, if the premium paid is for only a month, the insurance would be used up before financial statements are prepared. Therefore, it would be simpler to record the premium payment as an expense, Insurance Expense. Chapter Journalizing Purchases and Cash Payments
USING SOURCE DOCUMENTS, p. Journalizing purchases, cash payments, and other transactions from source documents Suddard Industries Commercial Road Bell City, LA 00- INVOICE TO: Messler Sailing River Street Naperville, IL 00- REC'D 0/0/- - P DATE: INV. TERMS: ACCT. Form /0/- - 0 days 0 QUANTITY 0 CAT. jib sheet jib halyard DESCRIPTION UNIT PRICE $.00 $.00 TOTAL $,.00 $,00.00 TOTAL $,.00 $,0.00 Form Date: October 0 - - To: Seaside Manufacturing For: BAL. BRO T. FOR D..., AMT. DEPOSITED.... Date SUBTOTAL..................., OTHER: On account SUBTOTAL..................., AMT. THIS CHECK.............,0 00 BAL. CAR D. FOR D............ 0, Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class USING SOURCE DOCUMENTS (continued) Messler Sailing MEMORANDUM Form DATE October, 0-- Attached invoice from Sullivan Supply Co. is for store supplies, bought on account, $0.00 DEBIT MEMORANDUM Form DATE October, 0-- Messler Sailing River Street Naperville, IL 00- TO Seaside Manufacturing 0 Industrial Road Ocean City, WA - ACCOUNT 00 QUANTITY CAT. DESCRIPTION UNIT PRICE TOTAL JS- Life preservers $.00 $.00 damaged in transit $.00 Form Date: October 0 0 - - To: Willcutt & Bishop For: BAL. BRO T. FOR D... 0, AMT. DEPOSITED.... 0 0 0 -, 00 Date SUBTOTAL..................., OTHER: Office Supplies SUBTOTAL..................., AMT. THIS CHECK............. 00 BAL. CAR D. FOR D............,0 Chapter Journalizing Purchases and Cash Payments
USING SOURCE DOCUMENTS (continued) Aquatic Manufacturing Industrial Road Stratford, CA - INVOICE TO: Messler Sailing River Street Naperville, IL 00- DATE: INV. TERMS: ACCT. REC'D 0//-- P Form 0//-- /0, n/0 0 QUANTITY 0 0 CAT. DESCRIPTION Fiberglass repair kit U-bolts, U-bolts, TOTAL UNIT PRICE $ 0.00 $.00 $.00 TOTAL $ 00.00 $ 0.00 $ 0.00 $ 0.00 Messler Sailing MEMORANDUM Form 0 DATE October, 0-- Attached invoice from Office Zone is for office supplies, bought on account, $.00 0 $.00 Form Date: October 0 - - To: Northern Electric For: BAL. BRO T. FOR D...,0 AMT. DEPOSITED.... Date SUBTOTAL...................,0 OTHER: Utilities SUBTOTAL...................,0 AMT. THIS CHECK............. 00 BAL. CAR D. FOR D............, Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class USING SOURCE DOCUMENTS (continued) $ Date: October 0 - - To: Aquatic Manufacturing For: BAL. BRO T. FOR D..., AMT. DEPOSITED.... 0 0-0 Date SUBTOTAL..................., OTHER: On account: $0.00 less % cash discount 0.0 Form SUBTOTAL..................., AMT. THIS CHECK............. 0 0 BAL. CAR D. FOR D............ 0, NORTHERN SAIL COMPANY Beach Blvd. Boston, MA 0-0 INVOICE TO: Messler Sailing River Street Naperville, IL 00- DATE: INV. TERMS: ACCT. REC'D 0/0/-- P Form 0 0//-- 0 days 0 QUANTITY CAT. DESCRIPTION UNIT PRICE TOTAL B- Viking- mainsail $,.00 $,.00 B- Sunset- mainsail $.00 $,.00 TOTAL $,.00 Chapter Journalizing Purchases and Cash Payments
USING SOURCE DOCUMENTS (continued) $,0.00 Form Date: October 0 0 - - To: WRRX Radio For: BAL. BRO T. FOR D... 0, AMT. DEPOSITED.... Date SUBTOTAL................... 0, OTHER: Advertising SUBTOTAL................... 0, AMT. THIS CHECK.............,0 00 BAL. CAR D. FOR D............, DEBIT MEMORANDUM Form DATE October, 0-- Messler Sailing River Street Naperville, IL 00- TO Aquatic Manufacturing Industrial Road Stratford, CA - ACCOUNT 0 QUANTITY CAT. DESCRIPTION UNIT PRICE TOTAL Fiberglass repair kit $ 0.00 $ 0.00 missing components Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class USING SOURCE DOCUMENTS (continued) $.00 Form Date: October 0 - - To: Michigan Sail Co. For: BAL. BRO T. FOR D..., AMT. DEPOSITED.... 0 0--, 0 Date SUBTOTAL..................., OTHER: Purchases SUBTOTAL..................., AMT. THIS CHECK............. 00 BAL. CAR D. FOR D............, $,.00 Form Date: October 0 - - To: Suddard Industries For: BAL. BRO T. FOR D..., AMT. DEPOSITED.... Date SUBTOTAL..................., OTHER: On account SUBTOTAL..................., AMT. THIS CHECK............., 00 BAL. CAR D. FOR D............, $. Form Date: October 0 - - To: Mary Donovan, Petty Cash For: Petty cash: office supplies, $.; store supplies, $.; misc. expense, $.; cash over, $0. BAL. BRO T. FOR D..., AMT. DEPOSITED.... 0 0 0 - Date SUBTOTAL..................., OTHER: SUBTOTAL..................., AMT. THIS CHECK............. BAL. CAR D. FOR D............, Chapter Journalizing Purchases and Cash Payments
USING SOURCE DOCUMENTS (continued) 0 DATE ACCOUNT TITLE 0 Oct. 0 0 Seaside Manufacturing () Supplies Office () Utilities Expense () Aquatic Manufacturing () Advertising Expense () Purchases () Suddard Industries () Supplies Office () Supplies Store Miscellaneous Expense Cash Short and Over Totals CASH PAYMENTS JOURNAL PAGE CK. 0 GENERAL DEBIT 00 00 000 00 0 0 ACCOUNTS PAYABLE DEBIT 000 000 00 00 PURCHASES DISCOUNT 0 0 CASH 000 00 00 00 000 00 00 Debit Credit Column Title Column Totals Column Totals General Debit.................... $. General Credit................... $ 0. Accounts Payable Debit.............00 Purchases Discount Credit...........0 Cash Credit...................... Totals.......................... $. $. 0 Working Papers TE COPYRIGHT SOUTH-WESTERN CENGAGE LEARNING
Name Date Class USING SOURCE DOCUMENTS (concluded) PURCHASES JOURNAL PAGE 0 DATE 0 Oct. ACCOUNT ED Suddard Industries () Aquatic Manufacturing () PURCH. PURCHASES DR. ACCTS. PAY. CR. 00 000 0 Northern Sail Company (0) 00 Total 000 GENERAL JOURNAL PAGE DATE ACCOUNT TITLE DOC. DEBIT 0 Oct. Supplies Store () M 000 Accounts Payable/Sullivan Supply Co. Accounts Payable/Seaside Manufacturing () Purchases Returns and Allow. Supplies Office () Accounts Payable/Office Zone Accounts Payable/Aquatic Manufacturing () Purchases Returns and Allow. DM M0 DM 00 00 000 000 00 00 000 0 0 Chapter Journalizing Purchases and Cash Payments