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Name Perfect YourScore Score
Identifying Accounting Terms 19 Pts.Analyzing Accounting Concepts and Practices 27 Pts.
Analyzing Transactions Recorded in Special Journals 24 Pts.Total 70 Pts.
StudyGuide
9Part One—Identifying Accounting TermsDirections: Select the one term in Column I that best fits each definition in ColumnII. Print the letter identifying your choice in the Answers column.
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING Chapter 9 • 189
Answers
1. E
2. O3. A4. P5. F
6. I
7. S
8. K
9. J
10. Q
11. C
12. B
13. M14. H
15. R16. D
17. N
18. L
19. G
Column I
A. capital stock
B. cash discountC. cash payments journalD. 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 allowanceM. purchases discount
N. purchases returnO. share of stock
P. stockholder
Q. terms of sale
R. trade discount
S. vendor
Column II
1. An organization with the legal rights of a person andwhich many persons may own. (p. 234)
2. Each unit of ownership in a corporation. (p. 234)3. Total shares of ownership in a corporation. (p. 234)4. An owner of one or more shares of a corporation. (p. 234)5. The price a business pays for goods it purchases to
sell. (p. 236)6. The amount added to the cost of merchandise to
establish the selling price. (p. 236)7. A business from which merchandise is purchased or
supplies or other assets are bought. (p. 236)8. A transaction in which the merchandise purchased is
to be paid for later. (p. 236)9. An invoice used as a source document for recording a
purchase on account transaction. (p. 238)10. An agreement between a buyer and a seller about
payment for merchandise. (p. 238)11. A special journal used to record only cash payment
transactions. (p. 242)12. A deduction that a vendor allows on the invoice
amount to encourage prompt payment. (p. 242)13. A cash discount on purchases taken by a customer. (p. 242)14. The retail price listed in a catalog or on an Internet
site. (p. 244)15. A reduction in the list price granted to customers. (p. 244)16. An account that reduces a related account on a
financial statement. (p. 245)17. Credit allowed for the purchase price of returned
merchandise, resulting in a decrease in the customer’saccounts payable. (p. 256)
18. Credit allowed for part of the purchase price ofmerchandise that is not returned, resulting in adecrease in the customer’s accounts payable. (p. 256)
19. A form prepared by the customer showing the pricededuction taken by the customer for returns andallowances. (p. 256)
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190 • Working Papers TE CENTURY 21 ACCOUNTING, 9TH EDITION
Part Two—Analyzing Accounting Concepts and PracticesDirections: Place a T for True or an F for False in the Answers column to show whether each of thefollowing statements is true or false.
Answers
1. T2. F3. T
4. T
5. T6. T
7. T8. F
9. F
10. T
11. F12. T13. T
14. T15. F
16. F17. T
18. F19. T20. T
21. F22. F23. T
24. T25. T
26. F27. T
1. Unlike a proprietorship, a corporation exists independent of its owners. (p. 234)2. A corporation can incur liabilities but cannot own property. (p. 234)3. 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 aBusiness Entity. (p. 234)
4. The selling price of merchandise must be greater than the cost of merchandise for abusiness to make a profit. (p. 236)
5. The cost account Purchases is used only to record the value of merchandise purchased. (p. 236)6. When purchases are recorded at their cost, including any related shipping costs and taxes,
the Historical Cost accounting concept is being applied. (p. 236)7. Recording entries in a journal with special amount columns saves time. (p. 237)8. All purchase transactions, including purchases made on account and purchases made for
cash, are recorded in the purchases journal. (p. 237)9. The source document for recording a purchase on account transaction is a memorandum
describing the merchandise purchased. (p. 238)10. By listing the quantity, the description, the price of each item, and the total amount
purchased, the Objective Evidence concept is applied. (p. 238)11. A purchase invoice usually lists only the total cost of the merchandise. (p. 238)12. A purchase on account transaction increases the amount owed to a vendor. (p. 239)13. A cash payments journal includes a special amount column for the cash account and the
accounts payable account. (p. 242)14. The source document for most cash payments is the check issued. (p. 242)15. When supplies are purchased for use in the business, the amount is recorded in the
purchases account. (p. 243)16. A special journal entry is made to show the amount of a trade discount. (p. 244)17. The terms of sale 2/15, n/30 mean that 2% of the invoice amount may be deducted if paid
within 15 days of the invoice date or the total invoice amount must be paid within 30 days.(p. 245)
18. Purchase discounts are recorded in the general journal. (p. 245)19. The contra account Purchases Discount has a normal credit balance. (p. 245)20. The custodian prepares a petty cash report when the petty cash fund is to be replenished.
(p. 248)21. The petty cash account Cash Short and Over is a permanent account. (p. 249)22. A journal is proved and ruled only at the end of a fiscal period. (p. 250)23. To begin a new journal page, the totals from the previous journal page are carried forward
to the next journal page. (p. 251)24. Buying supplies on account is recorded in the general journal. (p. 254)25. When supplies are purchased on account, the Store Supplies account balance increases and
the Accounts Payable account balance increases. (p. 255)26. The source document for a purchases return is a check. (p. 256)27. The normal account balance of Purchases Returns and Allowances is a credit. (p. 257)
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COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING Chapter 9 • 191
Name Date Class
Part Three—Analyzing Transactions Recorded inSpecial JournalsDirections: In Answers Column l, print the abbreviation for the journal inwhich each transaction is to be recorded. In Answers Columns 2 and 3, printthe letters identifying the accounts to be debited and credited for eachtransaction.
PJ—Purchases journal; GJ—General journal; CPJ—Cash payments journal
Account Titles
A. AccountsPayable
B. Cash
C. Cash Short andOver
D. MiscellaneousExpense
E. Petty Cash
F. Purchases
G. PurchasesDiscount
H. PurchasesReturns andAllowances
I. Rent Expense
J. Supplies
K. Tri-CountySuppliers
L. Wixom Sports
M. YukonOutfitters
Transactions
1–2–3. Purchased merchandise on account from WixomSports. (p. 239)
4–5–6. Paid cash for rent. (p. 243)
7–8–9. Purchased merchandise for cash. (p. 244)
10–11–12. Paid cash on account to Wixom Sports, lesspurchases discount. (p. 245)
13–14–15. Paid cash on account to Tri-County Suppliers. (p. 246)
16–17–18. Paid cash to replenish the petty cash fund:supplies, miscellaneous, cash over. (p. 249)
19–20–21. Bought supplies on account from Yukon Outfitters.(p. 255)
22–23–24. Returned merchandise to Tri-County Suppliers. (p. 257)
Answers
Journal Debit Credit
1. PJ 2. F 3. A, L
4. CPJ 5. I 6. B
7. CPJ 8. F 9. B
10. CPJ 11. A, L 12. B, G
13. CPJ 14. A, K 15. B
16. CPJ 17. D, J 18. B, C
19. GJ 20. J 21. A, M
22. GJ 23. A, K 24. H
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192 • Working Papers TE CENTURY 21 ACCOUNTING, 9TH EDITION
Skimming and Careful ReadingWe 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 everyword.
SkimmingSkimming helps you gain a general understanding of what is contained in material without slow and carefulreading. You may wish to skim a magazine article to determine if it contains information you want to readcarefully later.
You can use skimming to preview an assignment before you read for details. You should first read the ti-tle and the introduction quickly. You should then read the main headings and glance through the para-graphs. 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, forexample, you may want to read quickly through the material to be sure that you have not forgotten anyimportant points.
Careful ReadingMany times you will be responsible for every detail in a reading assignment. You may have to remembernames, dates, and facts that are of great importance. Before you read for details, you should skim thematerial 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 summarizeeach 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, concentratingon the details while keeping the overall picture in mind.
ConclusionSkimming and careful reading are techniques that will be extremely useful to you in the future. You shouldknow which technique to use and be sure to use it properly. Skimming will give you an overall view of thematerial. Careful reading will ensure that you know the details.
StudySkills
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Name Date Class
WORK TOGETHER, p. 2419-1
Journalizing purchases using a purchases journal
Chapter 9 Journalizing Purchases and Cash Payments • 193
PURCHASES JOURNAL PAGE 10
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DATE ACCOUNT CREDITED PURCHASES DR.ACCTS. PAY. CR.
Oct.20 – –
2
7
11
31
American Tools
Harris Manufacturing, Inc.
Keasler Supply
Total
PURCH.NO.
POST.REF.
1 2 3 0 00
4 8 0 00
7 8 0 00
2 4 9 0 00
116
117
118
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ON YOUR OWN, p. 2419-1
Journalizing purchases using a purchases journal
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING194 • Working Papers TE
PURCHASES JOURNAL PAGE 11
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DATE ACCOUNT CREDITED PURCHASES DR.ACCTS. PAY. CR.
Nov.20 – –
4
9
18
30
Ulman Supply, Inc.
Else Silver Co.
Pratt Paints
Total
PURCH.NO.
POST.REF.
6 7 0 00
2 3 4 5 00
1 1 5 0 00
4 1 6 5 00
149
150
151
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Name Date Class
WORK TOGETHER, p. 2479-2
Chapter 9 Journalizing Purchases and Cash Payments • 195
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aliz
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ON YOUR OWN, p. 2479-2
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WORK TOGETHER, p. 253
Name Date Class
9-3
Performing other cash payments journal operations
Chapter 9 Journalizing Purchases and Cash Payments • 197
CASH PAYMENTS JOURNAL PAGE
1 2 3 4
DATE ACCOUNT TITLE PURCHASESDISCOUNT
CREDIT
CASHCREDIT
CK.NO.
POST.REF.
GENERAL
DEBIT CREDIT
5
ACCOUNTSPAYABLE
DEBIT
5
23
24
25
23
24
25
27
27
27
Supplies
Ace Manufacturing
Carried Forward
2 3 4 30
18 4 8 6 85 4 5 8 56
3 79
2 5 1 34
2 3 4 30
1 8 5 81
34 2 6 0 45
1 8 9 60
16 4 8 3 50
534
535
✔
CASH PAYMENTS JOURNAL PAGE 61 2 3 4
1
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1
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3
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DATE ACCOUNT TITLE PURCHASESDISCOUNT
CREDIT
CASHCREDIT
Mar.20 – –
27
31
31
Brought Forward
Supplies—Office
Supplies—Store
Miscellaneous Expense
Cash Short and Over
Totals
CK.NO.
POST.REF.
GENERAL
DEBIT CREDIT
18 4 8 6 85
4 5 23
6 6 18
4 9 25
18 6 4 7 51
4 5 8 56
1 25
4 5 9 81
2 5 1 34
2 5 1 34
34 2 6 0 45
1 5 9 41
34 4 1 9 86
5
ACCOUNTSPAYABLE
DEBIT
16 4 8 3 50
16 4 8 3 50
536✔
PETTY CASH REPORT
Fund TotalPayments:
Less: Total paymentsEquals: Recorded amount on handLess: Actual amount on handEquals: Cash short (over)
Explanation ReconciliationReplenishAmount
Amount to Replenish
Date: Custodian:
Supplies—OfficeSupplies—StoreMiscellaneous
March 31,20-- Kevin Tomlinson
45.2366.1849.25
160.66 39.34 40.59 (1.25)
160.66
(1.25) 159.41
200.00
Debit CreditColumn Title Column Totals Column Totals
General Debit . . . . . . . . . . . . . . . . . . . . $18,647.51General Credit . . . . . . . . . . . . . . . . . . . $ 459.81Accounts Payable Debit . . . . . . . . . . . . 16,483.50Purchases Discount Credit . . . . . . . . . . 251.34Cash Credit . . . . . . . . . . . . . . . . . . . . . 34,419.86Totals . . . . . . . . . . . . . . . . . . . . . . . . . . $35,131.01 $35,131.01
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COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING198 • Working Papers TE
ON YOUR OWN, p. 2539-3
Performing other cash payments journal operations
CASH PAYMENTS JOURNAL PAGE
1 2 3 4
DATE ACCOUNT TITLE PURCHASESDISCOUNT
CREDIT
CASHCREDIT
CK.NO.
POST.REF.
GENERAL
DEBIT CREDIT
5
ACCOUNTSPAYABLE
DEBIT
11
23
24
25
23
24
25
28
28
28
Advertising Expense
GRF Manufacturing, Inc.
Carried Forward
1 5 0 0 00
25 6 2 4 85 9 5 8 48
5 0 36
4 9 2 15
1 5 0 0 00
2 4 6 7 64
59 3 1 6 72
2 5 1 8 00
35 1 4 2 50
625
626
✔
CASH PAYMENTS JOURNAL PAGE 121 2 3 4
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DATE ACCOUNT TITLE PURCHASESDISCOUNT
CREDIT
CASHCREDIT
June20 – –
28
30
30
Brought Forward
Supplies—Office
Supplies—Store
Miscellaneous Expense
Repair Expense
Cash Short and Over
Totals
CK.NO.
POST.REF.
GENERAL
DEBIT CREDIT
25 6 2 4 85
5 6 21
4 8 27
3 6 17
8 2 25
0 62
25 8 4 8 37
9 5 8 48
9 5 8 48
4 9 2 15
4 9 2 15
59 3 1 6 72
2 2 3 52
59 5 4 0 24
5
ACCOUNTSPAYABLE
DEBIT
35 1 4 2 50
35 1 4 2 50
627✔
PETTY CASH REPORT
Fund TotalPayments:
Less: Total paymentsEquals: Recorded amount on handLess: Actual amount on handEquals: Cash short (over)
Explanation ReconciliationReplenishAmount
Amount to Replenish
Date: Custodian:
Supplies—OfficeSupplies—StoreMiscellaneousRepairs
June 30,20-- Jerri Harris
56.2148.2736.1782.25
222.90 27.10 26.48 0.62
222.90
0.62 223.52
250.00
Debit CreditColumn Title Column Totals Column Totals
General Debit . . . . . . . . . . . . . . . . . . . . $25,848.37General Credit . . . . . . . . . . . . . . . . . . . $ 958.48Accounts Payable Debit . . . . . . . . . . . . 35,142.50Purchases Discount Credit . . . . . . . . . . 492.15Cash Credit . . . . . . . . . . . . . . . . . . . . . 59,540.24Totals . . . . . . . . . . . . . . . . . . . . . . . . . . $60,990.87 $60,990.87
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Name Date Class
Chapter 9 Journalizing Purchases and Cash Payments • 199
WORK TOGETHER andON YOUR OWN, p. 258
9-4
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APPLICATION PROBLEM, p. 2609-1
Journalizing purchases using a purchases journal
PURCHASES JOURNAL PAGE 9
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DATE ACCOUNT CREDITED PURCHASES DR.ACCTS. PAY. CR.
Sept.20 – –
2
6
12
18
26
30
Woodland Appliances
Quality Wholesalers
East Gate Appliances
Winston, Inc.
Woodland Appliances
Total
PURCH.NO.
POST.REF.
2 6 0 0 00
1 4 6 0 00
1 8 5 0 00
2 3 0 0 00
3 8 0 0 00
12 0 1 0 00
54
55
56
57
58
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21
00
00
52
00
00
241
242
243
244
245
246
247
248
249
250
251
✔
APPLICATION PROBLEM, p. 2609-2
Note
: Li
ne
12 o
f th
e jo
urn
al
and t
he
journ
al
pro
of
above
are
com
ple
ted i
n A
pplic
ation P
roble
m 9
-4.
Deb
itC
red
itC
olu
mn
Tit
leC
olu
mn
Tot
als
Col
um
n T
otal
s
Gen
eral
Deb
it .
. . .
. . .
. . .
. . .
. . .
. . .
.$1
,821
.00
Gen
eral
Cre
dit
. . .
. . .
. . .
. . .
. . .
. . .
.A
ccou
nts
Paya
ble
Deb
it .
. . .
. . .
. . .
. .5,
200.
00Pu
rcha
ses
Dis
coun
t C
red
it .
. . .
. . .
. . .
$
67.
00C
ash
Cre
dit
. . .
. . .
. . .
. . .
. . .
. . .
. . .
6,95
4.00
Tot
als
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. .
$7,0
21.0
0$7
,021
.00
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 201 SECOND REVISED
APPLICATION PROBLEM, p. 2619-3
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING202 • Working Papers TE
Preparing a petty cash report
APPLICATION PROBLEM, p. 2619-4
Performing additional cash payments journal operations
PETTY CASH REPORT
Fund TotalPayments:
Less: Total paymentsEquals: Recorded amount on handLess: Actual amount on handEquals: Cash short (over)
Explanation ReconciliationReplenishAmount
Amount to Replenish
Date: Custodian:
Supplies—OfficeAdvertisingMiscellaneous
January 31, 20-- Kevin Tomlinson
12.10 60.0056.45
128.55 71.45 70.67 0.78
128.55
0.78 129.33
200.00
PETTY CASH REPORT
Fund TotalPayments:
Less: Total paymentsEquals: Recorded amount on handLess: Actual amount on handEquals: Cash short (over)
Explanation ReconciliationReplenishAmount
Amount to Replenish
Date: Custodian:
Supplies—OfficeSupplies—StoreMiscellaneous
November 30, 20-- Wendy Morris
45.3154.62117.49
217.42 32.58 31.05 1.53
217.42
1.53 218.95
250.00
4.
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 202 SECOND REVISED
Name Date Class
APPLICATION PROBLEM (concluded)9-4
Chapter 9 Journalizing Purchases and Cash Payments • 203
CA
SH P
AYM
ENTS
JOU
RNA
LP
AG
E23
12
34
1 2 3 4 5 6 7 8 9 10
1 2 3 4 5 6 7 8 9 10
DA
TE
AC
CO
UN
T T
ITL
E
PU
RC
HA
SE
SD
ISC
OU
NT
CR
ED
IT
CA
SH
CR
ED
IT
Nov
.20
– –
30 30 30
Bro
ught
For
war
d
Supp
lies
—O
ffic
e
Supp
lies
—St
ore
Mis
cell
aneo
us E
xpen
se
Cas
h Sh
ort
and
Ove
r
Tot
als
CK
.N
O.
PO
ST
.R
EF
.
GE
NE
RA
L
DE
BIT
CR
ED
IT
18
21
00
45
31
54
62
11
749
153
20
39
95
67
00
67
00
69
54
00
21
895
71
72
95
5
AC
CO
UN
TS
PA
YA
BL
ED
EB
IT
52
00
00
52
00
00
252
✔
Deb
itC
red
itC
olu
mn
Tit
leC
olu
mn
Tot
als
Col
um
n T
otal
s
Gen
eral
Deb
it .
. . .
. . .
. . .
. . .
. . .
. . .
.$2
,039
.95
Gen
eral
Cre
dit
. . .
. . .
. . .
. . .
. . .
. . .
.A
ccou
nts
Paya
ble
Deb
it .
. . .
. . .
. . .
. .5,
200.
00Pu
rcha
ses
Dis
coun
t C
red
it .
. . .
. . .
. . .
$
67.
00C
ash
Cre
dit
. . .
. . .
. . .
. . .
. . .
. . .
. . .
7,17
2.95
Tot
als
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. .
$7,2
39.9
5$7
,239
.95
3., 5
., 6
., 7
.
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 203 SECOND REVISED
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING204 • Working Papers TE
APPLICATION PROBLEM, p. 2629-5
Journalizing other transactions using a general journal
GENERAL JOURNAL PAGE 10
DATE ACCOUNT TITLE DEBIT CREDITDOC.NO.
POST.REF.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Oct.20 – –
5
9
13
18
25
Supplies—Store
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
2 7 5 00
6 4 0 00
2 1 5 00
3 9 0 00
1 8 0 00
2 7 5 00
6 4 0 00
2 1 5 00
3 9 0 00
1 8 0 00
M39
DM25
M40
DM26
M41
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 204 SECOND REVISED
Name Date Class
MASTERY PROBLEM, pp. 262, 2639-6
Chapter 9 Journalizing Purchases and Cash Payments • 205
CA
SH P
AYM
ENTS
JOU
RNA
LP
AG
E13
12
34
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
DA
TE
AC
CO
UN
T T
ITL
E
PU
RC
HA
SE
SD
ISC
OU
NT
CR
ED
IT
CA
SH
CR
ED
IT
July
20 –
–
4 8 9 10 11 13 14 16 18 20 22 24 25 31
Pac
ific
Ind
ustr
ies
Adv
erti
sing
Exp
ense
Am
eric
an S
emic
ondu
ctor
Uti
liti
es E
xpen
se
Woo
dlan
d C
ompu
ters
Supp
lies
—O
ffic
e
Pur
chas
es
Farr
is C
able
Pur
chas
es
Pur
chas
es
Kee
l, In
c.
Supp
lies
—St
ore
New
Wav
e E
lect
roni
cs
Car
ried
For
war
d
CK
.N
O.
PO
ST
.R
EF
.
GE
NE
RA
L
DE
BIT
CR
ED
IT
75
000
13
600
12
600
13
92
00
42
900
15
600
94
00
30
83
00
28
00
52
00
69
60
14
960
13
72
00
75
000
26
90
00
13
600
25
48
00
12
600
13
92
00
32
900
42
900
15
600
34
10
40
94
00
92
000
14
35
240
5
AC
CO
UN
TS
PA
YA
BL
ED
EB
IT
14
00
00
26
90
00
26
00
00
32
900
34
80
00
92
000
11
41
900
242
243
244
245
246
247
248
249
250
251
252
253
254
✔
Journ
aliz
ing p
urc
hase
s, c
ash
paym
ents
, and o
ther
tra
nsa
ctio
ns
1., 2
.
Deb
itC
red
itC
olu
mn
Tit
leC
olu
mn
Tot
als
Col
um
n T
otal
s
Gen
eral
Deb
it .
. . .
. . .
. . .
. . .
. . .
. . .
.$
3,08
3.00
Gen
eral
Cre
dit
. . .
. . .
. . .
. . .
. . .
. . .
.A
ccou
nts
Paya
ble
Deb
it .
. . .
. . .
. . .
. .11
,419
.00
Purc
hase
s D
isco
unt
Cre
dit
. . .
. . .
. . .
.$
1
49.6
0C
ash
Cre
dit
. . .
. . .
. . .
. . .
. . .
. . .
. . .
14,3
52.4
0T
otal
s .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
.$1
4,50
2.00
$14,
502.
00
2.
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 205 SECOND REVISED
MASTERY PROBLEM (continued)9-6
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING206 • Working Papers TE
PURCHASES JOURNAL PAGE 7
1
2
3
4
5
6
7
8
9
10
11
12
13
14
1
2
3
4
5
6
7
8
9
10
11
12
13
14
DATE ACCOUNT CREDITED PURCHASES DR.ACCTS. PAY. CR.
July20 – –
2
6
12
15
27
31
Woodland Computers
NewWave Electronics
Helms Supply
Keel, Inc.
Woodland Computers
Total
PURCH.NO.
POST.REF.
2 6 0 0 00
2 5 6 0 00
5 5 0 00
3 4 8 0 00
3 2 0 0 00
1 2 3 9 0 00
354
355
356
357
358
1., 5.
GENERAL JOURNAL PAGE 11
DATE ACCOUNT TITLE DEBIT CREDITDOC.NO.
POST.REF.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
1
2
3
4
5
6
7
8
9
10
11
12
13
14
July20 – –
8
12
15
30
Supplies—Store
Accounts Payable/Willcut & Bishop
Accounts Payable/NewWave Electronics
Purchases Returns and Allow.
Supplies—Office
Accounts Payable/Office Express
Accounts Payable/Woodland Computers
Purchases Returns and Allow.
1 2 5 00
1 6 4 0 00
1 0 6 00
1 2 0 00
1 2 5 00
1 6 4 0 00
1 0 6 00
1 2 0 00
M39
DM25
M40
DM26
1.
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 206 SECOND REVISED
Name Date Class
MASTERY PROBLEM (concluded)9-6
3., 4
., 6
., 7
.
Chapter 9 Journalizing Purchases and Cash Payments • 207
CA
SH P
AYM
ENTS
JOU
RNA
LP
AG
E14
12
34
1 2 3 4 5 6 7 8
1 2 3 4 5 6 7 8
DA
TE
AC
CO
UN
T T
ITL
E
PU
RC
HA
SE
SD
ISC
OU
NT
CR
ED
IT
CA
SH
CR
ED
IT
July
20 –
–
31 31 31 31
Bro
ught
For
war
d
Hel
ms
Supp
ly
Supp
lies
—O
ffic
e
Supp
lies
—St
ore
Mis
cell
aneo
us E
xpen
se
Cas
h Sh
ort
and
Ove
r
Tot
als
CK
.N
O.
PO
ST
.R
EF
.
GE
NE
RA
L
DE
BIT
CR
ED
IT
30
83
00
23
45
84
32
74
34
32
65
11
036
036
14
960
14
960
143
52
40
55
000
18
175
150
84
15
5
AC
CO
UN
TS
PA
YA
BL
ED
EB
IT
114
19
00
55
000
119
69
00
255
256
✔
Deb
itC
red
itC
olu
mn
Tit
leC
olu
mn
Tot
als
Col
um
n T
otal
s
Gen
eral
Deb
it .
. . .
. . .
. . .
. . .
. . .
. . .
.$
3,26
5.11
Gen
eral
Cre
dit
. . .
. . .
. . .
. . .
. . .
. . .
.$
0.36
Acc
ount
s Pa
yabl
e D
ebit
. . .
. . .
. . .
. . .
11,9
69.0
0Pu
rcha
ses
Dis
coun
t C
red
it .
. . .
. . .
. . .
149.
60C
ash
Cre
dit
. . .
. . .
. . .
. . .
. . .
. . .
. . .
15,0
84.1
5T
otal
s .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
.$1
5,23
4.11
$15,
234.
11
6.
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 207 SECOND REVISED
CHALLENGE PROBLEM, p. 2639-7
Journalizing purchases, cash payments, and other transactions
1.
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING208 • Working Papers TE
PURCHASES JOURNAL PAGE 12
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
DATE ACCOUNT CREDITED PURCHASES DR.ACCTS. PAY. CR.
Nov.20 – –
3
9
Central Fitness
Trackmaster
PURCH.NO.
POST.REF.
8 6 0 00
2 9 0 0 00
84
85
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 208 SECOND REVISED
Name Date Class
CHALLENGE PROBLEM (continued)9-7
Chapter 9 Journalizing Purchases and Cash Payments • 209
1.
CA
SH P
AYM
ENTS
JOU
RNA
LP
AG
E26
12
34
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
DA
TE
AC
CO
UN
T T
ITL
E
PU
RC
HA
SE
SD
ISC
OU
NT
CR
ED
IT
CA
SH
CR
ED
IT
Nov
.20
– –
1 4 6 10 11 12 16 29 30
Ren
t E
xpen
se
Pur
chas
es
Pac
er E
quip
men
t
Supp
lies
—O
ffic
e
Cen
tral
Fit
ness
Pre
paid
Ins
uran
ce
Tra
ckm
aste
r
Med
a St
ore
Supp
lies
Supp
lies
—O
ffic
e
Supp
lies
—St
ore
Adv
erti
sing
Exp
ense
Mis
cell
aneo
us E
xpen
se
Cas
h Sh
ort
and
Ove
r
CK
.N
O.
PO
ST
.R
EF
.
GE
NE
RA
L
DE
BIT
CR
ED
IT
13
00
00
15
000
52
00
29
000
48
00
24
00
68
00
66
00
100
12
00
58
00
13
00
00
15
000
10
20
00
52
00
58
800
29
000
28
42
00
12
000
20
700
5
AC
CO
UN
TS
PA
YA
BL
ED
EB
IT
10
20
00
60
000
29
00
00
12
000
363
364
365
366
367
368
369
370
371
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 209 SECOND REVISED
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING210 • Working Papers TE
CHALLENGE PROBLEM (continued)9-7
GENERAL JOURNAL PAGE 11
DATE ACCOUNT TITLE DEBIT CREDITDOC.NO.
POST.REF.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Nov.20 – –
2
8
Supplies—Store
Accounts Payable/Meda Store Supplies
Accounts Payable/Central Fitness
Purchases Returns and Allow.
1 2 0 00
2 6 0 00
1 2 0 00
2 6 0 00
M43
DM54
1.
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 210 SECOND REVISED
Name Date Class
CHALLENGE PROBLEM (concluded)9-7
2.
Chapter 9 Journalizing Purchases and Cash Payments • 211
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.
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 211 SECOND REVISED
USING SOURCE DOCUMENTS, p. 265
Journalizing purchases, cash payments, and other transactions fromsource documents
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING212 • Working Papers TE
TO: Messler Sailing 142 River Street Naperville, IL 60540-3172
INVOICE
DATE:
INV. NO.
TERMS:
ACCT. NO.
1Form
DESCRIPTIONQUANTITY CAT. NO.
Suddard Industries1423 Commercial RoadBell City, LA 70630-6213
UNIT PRICE TOTAL
REC'D 10/03/- - P324
jib sheetjib halyard
TOTAL
43234233
2520
$ 1,125.00$ 1,100.00
$ 2,225.00
$ 45.00$ 55.00
9/30/- -6234
30 days2450
BAL. BRO‘T. FOR‘D. . . 12,485 25
SUBTOTAL . . . . . . . . . . . . . . . . . . . 12,485 25AMT. THIS CHECK . . . . . . . . . . . . . 1,520 00BAL. CAR‘D. FOR‘D. . . . . . . . . . . . 10,965 25
OTHER:
AMT. DEPOSITED . . . .
SUBTOTAL . . . . . . . . . . . . . . . . . . . 12,485 25Date
NO. 458 $
Date: October 4 20 - -
To: Seaside Manufacturing
For: On account
1,520.00 Form 2
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 212 SECOND REVISED
Name Date Class
USING SOURCE DOCUMENTS (continued)
Chapter 9 Journalizing Purchases and Cash Payments • 213
3Form
Attached invoice from SullivanSupply Co. is for store supplies,bought on account, $105.00
MEMORANDUM
NO. 39
DATE October 4, 20--
Messler Sailing
Messler Sailing
142 River Street
Naperville, IL 60540-3172
DEBIT MEMORANDUM NO. 25 4Form
DESCRIPTIONQUANTITY CAT. NO. UNIT PRICE TOTAL
Life preserversdamaged in transit
JS-34211 $ 275.00$ 25.00
DATEOctober 8, 20--
TO
ACCOUNT NO.2040
Seaside Manufacturing1430 Industrial RoadOcean City, WA 98569-2198
BAL. BRO‘T. FOR‘D. . . 10,965 25
SUBTOTAL . . . . . . . . . . . . . . . . . . . 12,229 25AMT. THIS CHECK . . . . . . . . . . . . . 625 00BAL. CAR‘D. FOR‘D. . . . . . . . . . . . 11,604 25
OTHER:
AMT. DEPOSITED . . . . 10 09 20 -SUBTOTAL . . . . . . . . . . . . . . . . . . . 12,229 25
Date
NO. 459 $
Date: October 10 20 - -
To: Willcutt & Bishop
For: Office Supplies
1,264 00
625.00 Form 5
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 213 SECOND REVISED
USING SOURCE DOCUMENTS (continued)
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING214 • Working Papers TE
TO: Messler Sailing 142 River Street Naperville, IL 60540-3172
INVOICE
DATE:
INV. NO.
TERMS:
ACCT. NO.
6Form
DESCRIPTIONQUANTITY CAT. NO.
Aquatic Manufacturing42 Industrial RoadStratford, CA 93266-4762
UNIT PRICE TOTAL
REC'D 10/11/-- P325
Fiberglass repair kitU-bolts, 1”U-bolts, 2”TOTAL
53263466347
51020
$ 300.00$ 160.00$ 460.00$ 920.00
$ 60.00$ 16.00$ 23.00
10/8/--15484
2/10, n/301420
7Form
Attached invoice from OfficeZone is for office supplies,bought on account, $95.00
MEMORANDUM
NO. 40
DATE October 12, 20--
Messler Sailing
BAL. BRO‘T. FOR‘D. . . 11,604 25
SUBTOTAL . . . . . . . . . . . . . . . . . . . 11,604 25AMT. THIS CHECK . . . . . . . . . . . . . 425 00BAL. CAR‘D. FOR‘D. . . . . . . . . . . . 11,179 25
OTHER:
AMT. DEPOSITED . . . .
SUBTOTAL . . . . . . . . . . . . . . . . . . . 11,604 25Date
NO. 460 $
Date: October 15 20 - -
To: Northern Electric
For: Utilities
425.00 Form 8
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 214 SECOND REVISED
Name Date Class
USING SOURCE DOCUMENTS (continued)
Chapter 9 Journalizing Purchases and Cash Payments • 215
BAL. BRO‘T. FOR‘D. . . 11,179 25
SUBTOTAL . . . . . . . . . . . . . . . . . . . 11,725 75AMT. THIS CHECK . . . . . . . . . . . . . 901 60BAL. CAR‘D. FOR‘D. . . . . . . . . . . . 10,824 15
OTHER:
AMT. DEPOSITED . . . . 10 18 20 -SUBTOTAL . . . . . . . . . . . . . . . . . . . 11,725 75
Date
NO. 461 $
Date: October 19 20 - -
To: Aquatic Manufacturing
For: On account: $920.00 less 2 % cash discount
546 50
901.60 Form 9
TO: Messler Sailing 142 River Street Naperville, IL 60540-3172
INVOICE
DATE:
INV. NO.
TERMS:
ACCT. NO.
10Form
DESCRIPTIONQUANTITY CAT. NO.
NORTHERN SAIL COMPANY253 Beach Blvd.Boston, MA 02169-5029
UNIT PRICE TOTAL
REC'D 10/20/-- P326
Viking-16 mainsailSunset-13 mainsail
TOTAL
B-23B-44
23
$ 3,198.00$ 1,377.00
$ 4,575.00
$ 1,599.00$ 459.00
10/18/--895
30 days1820
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 215 SECOND REVISED
USING SOURCE DOCUMENTS (continued)
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING216 • Working Papers TE
BAL. BRO‘T. FOR‘D. . . 10,824 15
SUBTOTAL . . . . . . . . . . . . . . . . . . . 10,824 15AMT. THIS CHECK . . . . . . . . . . . . . 2,560 00BAL. CAR‘D. FOR‘D. . . . . . . . . . . . 8,264 15
OTHER:
AMT. DEPOSITED . . . .
SUBTOTAL . . . . . . . . . . . . . . . . . . . 10,824 15Date
NO. 462 $
Date: October 20 20 - -
To: WRRX Radio
For: Advertising
2,560.00 Form 11
Messler Sailing
142 River Street
Naperville, IL 60540-3172
DEBIT MEMORANDUM NO. 26 12Form
DESCRIPTIONQUANTITY CAT. NO. UNIT PRICE TOTAL
Fiberglass repair kitmissing components
5322 $ 120.00$ 60.00
DATEOctober 22, 20--
TO
ACCOUNT NO.1420
Aquatic Manufacturing42 Industrial RoadStratford, CA 93266-4762
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 216 SECOND REVISED
Name Date Class
USING SOURCE DOCUMENTS (continued)
Chapter 9 Journalizing Purchases and Cash Payments • 217
BAL. BRO‘T. FOR‘D. . . 8,264 15
SUBTOTAL . . . . . . . . . . . . . . . . . . . 9,685 23AMT. THIS CHECK . . . . . . . . . . . . . 224 00BAL. CAR‘D. FOR‘D. . . . . . . . . . . . 9,461 23
OTHER:
AMT. DEPOSITED . . . .
SUBTOTAL . . . . . . . . . . . . . . . . . . . 9,685 23Date
NO. 463 $
Date: October 22 20 - -
To: Michigan Sail Co.
For: Purchases
224.00 Form 13
1,421 0810 22 20--BAL. BRO‘T. FOR‘D. . . 9,461 23
SUBTOTAL . . . . . . . . . . . . . . . . . . . 9,461 23AMT. THIS CHECK . . . . . . . . . . . . . 2,225 00BAL. CAR‘D. FOR‘D. . . . . . . . . . . . 7,236 23
OTHER:
AMT. DEPOSITED . . . .
SUBTOTAL . . . . . . . . . . . . . . . . . . . 9,461 23Date
NO. 464 $
Date: October 29 20 - -
To: Suddard Industries
For: On account
2,225.00 Form 14
BAL. BRO‘T. FOR‘D. . . 7,236 23
SUBTOTAL . . . . . . . . . . . . . . . . . . . 7,884 45AMT. THIS CHECK . . . . . . . . . . . . . 112 94BAL. CAR‘D. FOR‘D. . . . . . . . . . . . 7,771 51
OTHER:
AMT. DEPOSITED . . . . 10 30 20 -SUBTOTAL . . . . . . . . . . . . . . . . . . . 7,884 45
Date
NO. 465 $
Date: October 31 20 - -
To: Mary Donovan, Petty CashFor: Petty cash: office supplies, $23.45; store supplies, $65.25; misc. expense, $25.11; cash over, $0.87
648 22
112.94 Form 15
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 217 SECOND REVISED
USING SOURCE DOCUMENTS (continued)
COPYRIGHT © SOUTH-WESTERN CENGAGE LEARNING218 • Working Papers TE
CA
SH P
AYM
ENTS
JOU
RNA
LP
AG
E15
12
34
1 2 3 4 5 6 7 8 9 10 11 12 13
1 2 3 4 5 6 7 8 9 10 11 12 13
DA
TE
AC
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T T
ITL
E
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NT
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IT
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IT
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.20
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4 10 15 19 20 22 29 31 31
Seas
ide
Man
ufac
turi
ng
(2
)
Supp
lies
—O
ffic
e
(5
)
Uti
liti
es E
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se
(8)
Aqu
atic
Man
ufac
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ng
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)
Adv
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sing
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ense
(1
1)
Pur
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3)
Sudd
ard
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Supp
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Supp
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—St
ore
Mis
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and
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25
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11
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47
81
087
087
18
40
18
40
15
20
00
62
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42
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90
160
25
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22
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22
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11
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85
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464
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Deb
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. . .
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. . .
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. . .
. . .
.18
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red
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. . .
. . .
. . .
. . .
. . .
. .85
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otal
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. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
.$
8612
.81
$86
12.8
1
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 218 SECOND REVISED
Name Date Class
USING SOURCE DOCUMENTS (concluded)
Chapter 9 Journalizing Purchases and Cash Payments • 219
PURCHASES JOURNAL PAGE 10
1
2
3
4
5
6
7
8
9
1
2
3
4
5
6
7
8
9
DATE ACCOUNT CREDITED PURCHASES DR.ACCTS. PAY. CR.
Oct.20 – –
3
11
20
31
Suddard Industries (1)
Aquatic Manufacturing (6)
Northern Sail Company (10)
Total
PURCH.NO.
POST.REF.
2 2 2 5 00
9 2 0 00
4 5 7 5 00
7 7 2 0 00
324
325
326
GENERAL JOURNAL PAGE 14
DATE ACCOUNT TITLE DEBIT CREDITDOC.NO.
POST.REF.
1
2
3
4
5
6
7
8
9
10
11
12
1
2
3
4
5
6
7
8
9
10
11
12
Oct.20 – –
4
8
12
22
Supplies—Store (3)
Accounts Payable/Sullivan Supply Co.
Accounts Payable/Seaside Manufacturing (4)
Purchases Returns and Allow.
Supplies—Office (7)
Accounts Payable/Office Zone
Accounts Payable/Aquatic Manufacturing (12)
Purchases Returns and Allow.
1 0 5 00
2 7 5 00
9 5 00
1 2 0 00
1 0 5 00
2 7 5 00
9 5 00
1 2 0 00
M39
DM25
M40
DM26
BTE_Ch09-193-220.qxd 10/29/07 7:02 PM Page 219 SECOND REVISED