02 Jul Accounting help PR 5-3A
Please use the attached spreadsheet to complete this. Thanks
PR 5-3A Purchases, accounts payable subsidiary account, and accounts payable OBJ. 2, 4 ledger Sterling Forest Landscaping designs and installs landscaping. The landscape designers and office staff use office supplies, while field supplies (rock, bark, etc.) are used in the actual landscaping. Purchases on account completed by Sterling Forest Landscaping dur- ing October are as follows: Oct. 2. Purchased office supplies on account from Meade Co., $400. 5. Purchased office equipment on account from Peach Computers Co., $3,980. 9. Purchased office supplies on account from Executive Office Supply Co., $320. 13. Purchased field supplies on account from Yamura Co., $1,420. 14. Purchased field supplies on account from Omni Co., $2,940. 17. Purchased field supplies on account from Yamura Co., $1,890. 24. Purchased field supplies on account from Omni Co., $3,880. 29. Purchased office supplies on account from Executive Office Supply Co., $310. 31. Purchased field supplies on account from Omni Co., $1,800. Instructions 1. Insert the following balances in the general ledger as of October 1: Apr. 30. Received cash from fees earned, $12,890. Post revenue and collections to the accounts receivable subsidiary ledger. Instructions
1. Insert the following balances in the general ledger as of April 1: 11 Cash 12 Accounts Receivable 14 Notes Receivable 41 Fees Earned $11,350 14,830 6,000 — 14 Field Supplies 15 Office Supplies 18 Office Equipment 21 Accounts Payable $ 5,920 750 12,300 1,170
2. Insert the following balances in the accounts payable subsidiary ledger as of October 1: Executive Office Supply Co. $390 Meade Co. 780 Omni Co. — Peach Computers Co. — Yamura Co. —
3. Journalize the transactions for October, using a purchases journal (p. 30) similar to the one illustrated in this chapter. Prepare the purchases journal with columns for Accounts Payable, Field Supplies, Office Supplies, and Other Accounts. Post to the creditor accounts in the accounts payable subsidiary ledger immediately after each entry.
4. Post the purchases journal to the accounts in the general ledger.
5. a. What is the sum of the creditor balances in the subsidiary ledger at October 31? b. What is the balance of the accounts payable controlling account at October 31?
6. What type of e-commerce application would be used to plan and coordinate transactions with suppliers?
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