Solved

The Posting References in the Following Purchases Journal Are Indicated  PURCHASES  JOURNAL  Page 1 \begin{array}{cc} &&&&&&&&&&&&& \textbf { PURCHASES } \\&&&&&&\textbf { JOURNAL } &&&&&&& \textbf { Page 1 }\end{array}

Question 195

Essay

The posting references in the following purchases journal are indicated by letters. Identify each posting reference [
(a) through
(i)] as representing
(1) a posting to a general ledger account,
(2) a posting to a subsidiary ledger account, or
(3) that no posting is required.?  PURCHASES  JOURNAL  Page 1 \begin{array}{cc} &&&&&&&&&&&&& \textbf { PURCHASES } \\&&&&&&\textbf { JOURNAL } &&&&&&& \textbf { Page 1 }\end{array}
 Accounts  Office  Store  Date  Account  Post.  Payable  Supplies  Supplies  Credited  Ref.  Cr.  Dr.  Dr.  July 3 Morton Company  (a) 1,1501,1507 Jackson Co.  (b) 4,8004,80014 Fallon Inc.  (c) 7,0007,00026 Simpson Bros.  (d) 2,3503115,30011,8001,150(e)(f)(g)\begin{array}{rllrcc}\hline & & & \text { Accounts } & \text { Office } & \text { Store } \\\text { Date } & \text { Account } & \text { Post. } & \text { Payable } & \text { Supplies } & \text { Supplies } \\& \text { Credited } & \text { Ref. } & \text { Cr. } & \text { Dr. } & \text { Dr. }\\\hline\text { July } 3 & \text { Morton Company } & \text { (a) } & 1,150 & & 1,150 \\7 & \text { Jackson Co. } & \text { (b) } & 4,800 & 4,800 & \\14 & \text { Fallon Inc. } & \text { (c) } & 7,000 & 7,000 & \\26 & \text { Simpson Bros. } & \text { (d) } & \underline{2,350} & & \\31 & & & \underline{\underline{\mathbf{1 5 , 3 0 0}}} & \underline{\underline{\mathbf{1 1 , 8 0 0}}} & \underline{\underline{\mathbf{1 , 1 5 0}}}\\&&&(e)&(f)&(g)\end{array}  The posting references in the following purchases journal are indicated by letters. Identify each posting reference [ (a) through  (i)] as representing  (1) a posting to a general ledger account,  (2) a posting to a subsidiary ledger account, or  (3) that no posting is required.?  \begin{array}{cc}  &&&&&&&&&&&&& \textbf { PURCHASES } \\ &&&&&&\textbf { JOURNAL } &&&&&&& \textbf { Page 1 } \end{array}   \begin{array}{rllrcc} \hline & & & \text { Accounts } & \text { Office } & \text { Store } \\ \text { Date } & \text { Account } & \text { Post. } & \text { Payable } & \text { Supplies } & \text { Supplies } \\ & \text { Credited } & \text { Ref. } & \text { Cr. } & \text { Dr. } & \text { Dr. }\\\hline \text { July } 3 & \text { Morton Company } & \text { (a) } & 1,150 & & 1,150 \\ 7 & \text { Jackson Co. } & \text { (b) } & 4,800 & 4,800 & \\ 14 & \text { Fallon Inc. } & \text { (c) } & 7,000 & 7,000 & \\ 26 & \text { Simpson Bros. } & \text { (d) } & \underline{2,350} & & \\ 31 & & & \underline{\underline{\mathbf{1 5 , 3 0 0}}} & \underline{\underline{\mathbf{1 1 , 8 0 0}}} & \underline{\underline{\mathbf{1 , 1 5 0}}}\\ &&&(e)&(f)&(g) \end{array}

Correct Answer:

verifed

Verified

(1) General ledger account: (e...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents