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The purchases journal for Crystal View Window Cleaners Inc is shown below The accounts payable account has a January 1 2012 balance of $365 of an amount due from Little Co There were no payments

The purchases journal for Crystal View Window Cleaners Inc. is shown below. The accounts payable account has a January 1, 2012, balance of $365 of an amount due from Little Co. There were no payments made on creditor invoices during January.

 

 

PURCHASES JOURNAL

 

 

 

 

 

 

Accts.

Cleaning

Other

 

 

 

 

Post.

Payable

Supplies

Accounts

Post.

 

Date

Account Credited

Ref.

Cr.

Dr.

Dr.

Ref.

Amount

2012

 

 

 

 

 

 

 

Jan. 4

Kleen-Mate Supplies Inc.

 

570

570

 

 

 

15

Little Co.

 

250

250

 

 

 

19

Office Mate Inc.

 

2,700

 

Office Equipment

 

2,700

26

Kleen-Mate Supplies Inc.

 

330

330

 

 

 

31

 

 

3,850

1,150

 

 

2,700

a. Prepare a T account for the accounts payable creditor accounts.

b. Post the transactions from the purchases journal to the creditor accounts, and determine their ending balances.

c. Prepare T accounts for the accounts payable control and cleaning supplies accounts. Post control totals to the two accounts, and determine their ending balances.

d. Prepare a schedule of the creditor account balances to verify the equality of the sum of the creditor account balances and the accounts payable account balance.

e. How might a computerized accounting system differ from the use of a purchases journal in recording purchase transactions?

May 14 2020 View more View Less

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