Case Introduction Case: Marco Polo - Student copy Marco Polo Marco Polo sells outdoor sporting equipment. You have been working for the company since its inception a few years ago and have been...

1 answer below ยป
can this be completed? Its started but not all correct, and I have exam based on the assignment


Case Introduction Case: Marco Polo - Student copy Marco Polo Marco Polo sells outdoor sporting equipment. You have been working for the company since its inception a few years ago and have been promoted to be their accounting manager. They use the perpetual inventory system and use the weigted average method to determine value for the inventory. The opening balances for the month of September are as follows: Marco Polo Balance Sheet As at September 30, 2020 Assets Liabilities Cash$26,800Accounts Payable$18,700 Accounts Receivable18,000Bank Loan25,000 Merchandise Inventory12,750Total Liabilities$43,700 Equipment120,000Shareholders' Equity Accumulated Depreciation-40,000Common Shares62,000 Retained Earnings31,850 Total Assets$137,550Total Liabilities & Shareholders' Equity$137,550 Notes Relating to Balances: Customers and balancesSuppliers and Balances Firewood Bill$2,600Outdoor Muzi$5,600 Outback Kian$7,700Hiking T-shirt$8,500 Moose Gear$5,800Climb Foe$4,600 Salomon$1,100Total$18,700 Day Hike$800 Total$18,000 The inventory figure includes 500 units purchased at $25.5 each. 1275050025.5 The Chart of Accounts (GL no.) is shown below: Account DescriptionAccount #Account DescriptionAccount # ASSETSREVENUE Cash101Sales Revenue400 Petty Cash105Sales Discounts405 Accounts Receivable 110Sales Returns and Allowances410 Merchandise Inventory120Interest Revenue420 Prepaid Insurance125EXPENSES Equipment140Cost of Goods Sold500 Accumulated Depreciation145Employee Benefits Expense510 LIABILITIESDepreciation Expense515 Accounts Payable200Insurance Expense520 Interest Payable205Interest Expense525 CPP Payable220Office Supplies Expense530 EI Payable225Rent Expense535 Income Tax Payable230Salaries Expense540 Salaries Payable235Bank Charges Expense545 Unearned Revenue240Maintenance Expense550 Bank Loan245Entertainment Expense555 SHAREHOLDERS' EQUITY Common Shares300 Retained Earnings305 Page &P Transactions Transactions for the month of October: 600255012080901404741 Oct 1Bought inventory from Outdoor Muzi on account, invoice #5455; 1000 units at $30 each. Terms of the purchase were 4/10, net 30. Update the inventory table after each purchase.100030000 30 Oct 2Sold goods to Outback Kian, 700 units at $100 each with invoice #4741. The invoice terms were 5/10, net 30. Update the inventory table after each sale.70070000 100 Oct 5Paid $1,200 with cheque #143 to Outdoor Muzi for an amount owing from last month.1200 Oct 5Bought inventory from Climb Foe with cheque #144, 600 units at $25 per unit.15000 Oct 7Returned 200 defective units to Climb Foe and received cash.2005000 Oct 8Received $900 from Firewood Bill for a sale on account last month.900 Oct 10Outback Kian paid invoice #4741 on time and took advantage of the early payment discount.350066500 Oct 31Prepared the payroll for October. Gross pay is $8,400, CPP is $416, EI is $158 and income tax is $1,680. The employer matches CPP contributions and pays 1.4 times the EI deduction. Use the general journal to record this. The cheque will be prepared later.8400 Record the transactions above in the general journal. Special Journals Sales JournalPage 4 DateAccountInvoice #PRSales (CR)Accounts Receivable (DR)COGS / Inventory (DR/CR) Oct 2Outback Kian456570,000.0070,000.0070,000.00 Oct 31Totals70,000.0070,000.0070,000.00 400110500/120 Purchases JournalPage 7 DateAccountInvoice #PRInventory (DR)Office Supplies (DR)Other (DR)Accounts Payable (CR) Oct 1Outdoor Muzi545530,000.0030,000.00 Oct 31Total30,000.0030,000.00 120200 Cash ReceiptsPage 9 DateAccountPRCash (DR)Sales Discounts (DR)Accounts Receivable (CR)Sales (CR)Other (CR)COGS / Inventory (DR/CR) Oct 8Firewood Bill900.00900.00 Oct 10Outback KianERROR:#REF!3,500.00ERROR:#REF! Oct 31TotalERROR:#REF!3,500.00ERROR:#REF!0.000.000.00 101405110400X500/120 Cash PaymentsPage 6 DateAccountChq #PRAccounts Payable (DR)Other (DR)Inventory (DR)Inventory (CR)Cash (CR) Oct 5Outdoor Muzi1431,200.001,200.00 Oct 5Climb Foe14415,000.0015,000.00 Oct 31Total1,200.000.0015,000.000.0016,200.00 200X120120101 General Journal General JournalPage 3 DateAccount Title and ExplanationPRDRCR Oct 1Purchase inventory12030,000.00 Accounts Payable30,000.00 To record purchase on account Oct 2Accounts Receivable11070,000.00 Sales Revenue40070,000.00 To record sales on account Oct 5Accounts Payable2001,200.00 Cash (cheque 143)1011,200.00 Paid invoice from Sept Oct 5Purchase inventory12015,000.00 Cash (cheque 144)10115,000.00 to record purchase with cash/cheque Oct 7Cash1015,000.00 return merchandise1205,000.00 To record merchandise return Oct 9Cash101900.00 Accounts Receivable110900.00 To record payment rec'd on account Oct 10Cash10166,500.00 Accounts Receivable11070,000.00 Discount (5/10 net 30)4053,500.00 To record payment rec'd on account Oct 31Salaries Exspence5408,400.00 CPP220416.00 E.I225158.00 Income Tax2301,680.00 Salaries Payable2356,146.00 To record employee Payroll Oct 31Employee Benefits Exspnece510637.20 CPP Payable220416.00 E.I Payable225221.20 To record Employer Payroll exspences Oct 31Bank Charge Expence54560.00 Cash10160.00 197,697.20189,697.20 AR Subledger Accounts Receivable Sub ledger Accounts Account:Firewood Bill DateDescriptionPRDRCRBalance (DR or CR) Opening Balance2,600.00DR Oct 8CR9900.001,700.00DR Account:Outback Kian DateDescriptionPRDRCRBalance (DR or CR) Opening Balance7,700.00DR Oct 2SJ470,000.0077,700.00DR ERROR:#REF!GJ3ERROR:#REF!ERROR:#REF!DR Oct 10CR9ERROR:#REF!ERROR:#REF!DR Account:Moose Gear DateDescriptionPRDRCRBalance (DR or CR) Opening Balance5,800.00DR Account:Salomon DateDescriptionPRDRCRBalance (DR or CR) Opening Balance1,100.00DR Account:Day Hike DateDescriptionPRDRCRBalance (DR or CR) Opening Balance800.00DR Accounts Receivable Subledger Totals Report CustomerBalance Firewood Bill1,700.00 Outback KianERROR:#REF! Moose Gear5,800.00 Salomon1,100.00 Day Hike800.00 TotalERROR:#REF! Accounts Receivable 17,100.00 AP Subledger Accounts Payable Sub ledger Accounts Account:Outdoor Muzi DateDescriptionPRDRCRBalance (DR or CR) Opening Balance5,600.00CR Oct 1PJ730,000.0035,600.00CR Oct 5CP61,200.0034,400.00CR Account:Hiking T-shirt DateDescriptionPRDRCRBalance (DR or CR) Opening Balance8,500.00CR Account:Climb Foe DateDescriptionPRDRCRBalance (DR or CR) Opening Balance4,600.00CR Accounts Receivable Subledger Totals Report SupplierBalance Outdoor Muzi34,400.00 Hiking T-shirt8,500.00 Climb Foe4,600.00 Total47,500.00 Accounts Payable0.00 General Ledger General Ledger Accounts Account:CashGL No:101 DateDescriptionPRDRCRBalance (DR or CR) Oct 1Opening Balance26,800.00DR Oct 5Paid (cheque 143)1,200.00 Oct 5bought inventory15,000.00 Oct 7Return inventory5,000.00 Oct 9Rec'd Payment900.00 Oct 10Rec'd Payment66,500.00 Oct 31Bank Fees60.00 Oct 3182,940.00 Account:Petty CashGL No:105 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance0.00DR Account:Accounts Receivable GL No:110 DateDescriptionPRDRCRBalance (DR or CR) Oct 1Opening Balance18,000.00DR Oct 2Outback Kian (4741)70,000.0088,000.00DR "Oct 8Firewood Bill900.0087,100.00DR Oct 10Outback Kian (4741)70,000.0017,100.00DR 31-Oct17,100.00 Account:Merchandise InventoryGL No:120 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance12,750.00DR Oct 1Purchase Inventory30,000.0042,750.00 Oct 2Sold Inventory70,000.0022,800.00 Oct 5Purchase Inventory15,000.0037,800.00 Oct 7Return Merchandise5,000.0032,800.00 31-Oct32,800.00 Account:Prepaid InsuranceGL No:125 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance0.00DR Account:EquipmentGL No:140 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance120,000.00DR Account:Accumulated DepreciationGL No:145 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance40,000.00CR Account:Accounts PayableGL No:200 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance18,700.00CR Oct 3128,800.0047,500.00cr 47,500.00cr Account:Interest PayableGL No:205 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance0.00CR Account:CPP PayableGL No:220 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance0.00CR Oct 31832.00cr Account:EI PayableGL No:225 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance0.00CR Oct 31158.00158.00cr Oct 31221.20379.20cr Account:Income Tax PayableGL No:230 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance0.00CR Oct 311,680.00cr Account:Salaries PayableGL No:235 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance0.00CR Oct 316,146.006,146.00cr Account:Unearned RevenueGL No:240 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance0.00CR Account:Bank LoanGL No:245 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance25,000.00CR Account:Common SharesGL No:300 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance62,000.00CR Account:Retained EarningsGL No:305 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance31,850.00CR Account:Sales RevenueGL No:400 DateDescriptionPRDRCRBalance (DR or CR) Oct 10Sales revenue66,500.0066,500.00 66,500.0066,500.00 Account:Sales DiscountsGL No:405 DateDescriptionPRDRCRBalance (DR or CR) Oct 10Sales Discounts3,500.003,500.00 31-Oct3,500.00 Account:Sales Returns and AllowancesGL No:410 DateDescriptionPRDRCRBalance (DR or CR) Account:Cost of Goods SoldGL No:500 DateDescriptionPRDRCRBalance (DR or CR) Account:Employee Benefits ExpenseGL No:510 DateDescriptionPRDRCRBalance (DR or CR) Account:Depreciation ExpenseGL No:515 DateDescriptionPRDRCRBalance (DR or CR) Account:Insurance ExpenseGL No:520 DateDescriptionPRDRCRBalance (DR or CR) Account:Interest ExpenseGL No:525 DateDescriptionPRDRCRBalance (DR or CR) Account:Office Supplies ExpenseGL No:530 DateDescriptionPRDRCRBalance (DR or CR) Account:Rent ExpenseGL No:535 DateDescriptionPRDRCRBalance (DR or CR) Account:Salaries ExpenseGL No:540 DateDescriptionPRDRCRBalance (DR or CR) Account:Bank Charges ExpenseGL No:545 DateDescriptionPRDRCRBalance (DR or CR) Account:Entertainment ExpenseGL No:555 DateDescriptionPRDRCRBalance (DR or CR) Inventory Valuation Use this chart to keep track of inventory values DatePurchasesSalesBalance QuantityUnit CostValueQuantityUnit CostValueQuantityUnit CostValue Sept 3050025.5012,750.00 Oct 11,00030.0030,000.001,50028.5042,750.00 Oct 2700100.0070,000.0080028.5022,800.00 Oct 560025.0015,000.001,40027.0037,800.00 Note: You need to deduct the cost of any goods returned to inventory from the Purchases(Value)and Balance V(alue) columns above. Oct 7return defective items20025.005,0001,20027.0032,800 32,800 Bank Reconciliation Your staff accountant goes through the mail and opens the bank statement for the month of October provided by Fanshawe Local Bank. It is shown below. Fanshawe Local Bank Prepared for Marco Polo DateInformationWithdrawalDepositBalance Opening Balance12,600.00 Oct 2Deposit14,200.0026,800.00 Oct 5Chq#1431,200.0025,600.00 Oct 8Deposit66,500.0092,100.00 Oct 8Deposit5,000.0097,100.00 Oct 11Chq#82402,400.0094,700.00 Oct 31Service Charge60.0094,640.00 The Cash Receipts and Cash Payments journals for the Month of October are presented below. Cash ReceiptsPage 9 DateAccountPRCash (DR)Sales Discounts (DR)Accounts Receivable (CR)Sales (CR)HST Payable (CR)Other (CR)COGS / Inventory (DR/CR) Oct 7Climb Foe5,000.005,000.00 Oct 8Firewood Bill900.00900.00 Oct 10Outback Kian66,500.00ERROR:#REF!ERROR:#REF! Oct 31Total72,400.00ERROR:#REF!ERROR:#REF!0.000.000.005,000.00 101405110400X500/120 Cash PaymentsPage 6 DateAccountChq #PRAccounts Payable (DR)Other (DR)HST Recoverable (DR)Inventory (DR)Inventory (CR)Cash (CR) Oct 5Outdoor Muzi1431,200.001,200.00 Oct 5Climb Foe14415,000.0015,000.00 Oct 31Total1,200.000.000.0015,000.000.0016,200.00 200X120120101 General Ledger Accounts Account:CashGL No:101 DateDescriptionPRDRCRBalance (DR or CR) Opening Balance26,800.00DR Oct 5Paid Chq#143GJ31,200.0025,600.00DR Oct 5Paid inventory Chq#144GJ315,000.0010,600.00CR Oct 7Return of inventoryGJ35,000.0015,600.00CR Oct 8Received paymentGJ3900.0016,500.00CR Oct 10Received paymentGJ366,500.0083,000.00DR Additional Information: a) The $14,200 is already recorded in the ledger last month. b) Cheque number of the company has only three (3) digits. Required: Prepare the October bank reconciliation for Marco Polo using the bank statement and general ledger provided. Compare the information in the general ledger to the bank statement. Once reconciled, record the relevant journal entries in the general journal and post the entries in the general ledger to bring the company's record up to date. 82,940.00 Marco Polo Bank Reconciliation Statement October 31, 2019 ExplanationBalance per booksBalance per Bank Cash Balance83,000.0094,640.00 reverse a withdrawl2,400.00 record banking fee-60.00 checque in transit (144)-15,000.00 payment received900.00 82,940.0082,940.00 Financial Statements Marco PoloHike Away Balance SheetBalance Sheet As at September 30, 2020As at September 30, 2018 Assets LiabilitiesAssets Liabilities Cash$26,800Accounts Payable$18,700Cash$9,480.00Accounts Payable$10,500.00 Accounts Receivable$18,000Bank Loan$25,000Accounts Receivable$16,000.00Bank Loan$18,000.00 Merchandise Inventory$12,750Total Liabilities$43,700Merchandise Inventory$15,000.00Total Liabilities$28,500.00 Equipment$120,000Shareholders' Equity$0Equipment$160,000.00Shareholders' Equity Accumulated Depreciation-$40,000Common Shares$62,000Accumulated Depreciation-$18,000.00Common Shares$50,000.00 Retained Earnings$31,850Retained Earnings$103,980.00 Total Assets$137,550Total Liabilities & Shareholders' Equity$137,550Total Assets$182,480.00Total Liabilities & Shareholders' Equity$182,480.00 1) Prepare a multistep income statement. Marco PoloHike Away Income StatementIncome Statement For the Month Ended October 31, 2020For the Month Ended December 31, 2019 Net Sales37,452.80Sales Revenue$45,000.00 Sales Discounts$1,800.00 Net SalesERROR:#REF! ExspencesCost of Goods Sold$22,800.00 Gross ProfitERROR:#REF! Operating Expenses Employee Benefits Expense$545.00 Salaries Expense$7,200.00 Bank Charges Expense$25.00 Total Expense$7,770.00 37,452.80Net IncomeERROR:#REF! 2) Prepare a calculation of retained earnings Calculation of Retained EarningsCalculation of Retained
acct1100-individual-assignment-2-w2020-student-3-zbzxyqei.xlsx acct1100-individual-assignment-2-w2020-student-3-xlnkkzfh-btqkwjjk.xlsx
Answered Same DayApr 23, 2021

Answer To: Case Introduction Case: Marco Polo - Student copy Marco Polo Marco Polo sells outdoor sporting...

Kiran answered on Apr 24 2021
143 Votes
Case Introduction
    Case: Marco Polo - Student copy
    Marco Polo
    Marco Polo sells outdoor sporting equipment. You have been working for the company since its inception a few years ago and have been promoted to be their accounting manager. They use the perpetual inventory system and use the weigted average method to determine value for the inventory.
    The opening balances for the month of September are as follows:
    Marco Polo
    Balance Sheet
    As at September 30, 2020
    Assets                 Liabilities
    Cash            $26,800    Accounts Payable            $18,700
    Accounts Receivable            18,000    Bank Loan            25,000
    Merchandise Inventory            12,750    Total Liabilities            $43,700
    Equipment            120,000    Shareholders' Equity
    Accumulated Depreciation            -40,000    Common Shares            62,000
                    Retained Earnings            31,850
    Total Assets            $137,550    Total Liabilities & Shareholders' Equity            $137,550
    Notes Relating to Balances:
    Customers and balances                    Suppliers and Balances
    Firewood Bill            $2,600        Outdoor Muzi            $5,600
    Outback Kian            $7,700        Hiking T-shirt            $8,500
    Moose Gear            $5,800        Climb Foe            $4,600
    Salomon            $1,100        Total            $18,700
    Day Hike            $800
    Total            $18,000
    The inventory figure includes 500 units purchased at $25.5 each.
    12750    500    25.5
    The Chart of Accounts (GL no.) is shown below:
    Account Description            Account #        Account Description            Account #
    ASSETS                    REVENUE
    Cash            101        Sales Revenue            400
    Petty Cash            105        Sales Discounts            405
    Accounts Receivable             110        Sales Returns and Allowances            410
    Merchandise Inventory            120        Interest Revenue            420
    Prepaid Insurance            125        EXPENSES
    Equipment            140        Cost of Goods Sold            500
    Accumulated Depreciation            145        Employee Benefits Expense            510
    LIABILITIES                    Depreciation Expense            515
    Accounts Payable            200        Insurance Expense            520
    Interest Payable            205        Interest Expense            525
    CPP Payable            220        Office Supplies Expense            530
    EI Payable            225        Rent Expense            535
    Income Tax Payable            230        Salaries Expense            540
    Salaries Payable            235        Bank Charges Expense            545
    Unearned Revenue            240        Maintenance Expense            550
    Bank Loan            245        Entertainment Expense            555
    SHAREHOLDERS' EQUITY
    Common Shares            300
    Retained Earnings            305
Page &P
Transactions
    Transactions for the month of October:
    600    25    50    120    80    90    140    4741
    Oct 1    Bought inventory from Outdoor Muzi on account, invoice #5455; 1000 units at $30 each. Terms of the purchase were 4/10, net 30. Update the inventory table after each purchase.                                1000    30000
                                        30
    Oct 2    Sold goods to Outback Kian, 700 units at $100 each with invoice #4741. The invoice terms were 5/10, net 30. Update the inventory table after each sale.                                700    70000
                                        100
    Oct 5    Paid $1,200 with cheque #143 to Outdoor Muzi for an amount owing from last month.                                    1200
    Oct 5    Bought inventory from Climb Foe with cheque #144, 600 units at $25 per unit.                                    15000
    Oct 7    Returned 200 defective units to Climb Foe and received cash.                                200    5000
    Oct 8    Received $900 from Firewood Bill for a sale on account last month.                                    900
    Oct 10    Outback Kian paid invoice #4741 on time and took advantage of the early payment discount.                                3500    66500
    Oct 31    Prepared the payroll for October. Gross pay is $8,400, CPP is $416, EI is $158 and income tax is $1,680. The employer matches CPP contributions and pays 1.4 times the EI deduction. Use the general journal to record this. The cheque will be prepared later.                                    8400
    Record the transactions above in the general journal.
Special Journals
    Sales Journal                        Page 4
    Date    Account    Invoice #    PR    Sales (CR)    Accounts Receivable (DR)    COGS / Inventory (DR/CR)
    Oct 2    Outback Kian    4565        70,000.00    70,000.00    19,950.00
    Oct 31    Totals            70,000.00    70,000.00    19,950.00
                    400    110    500/120
    Purchases Journal                            Page 7
    Date    Account    Invoice #    PR    Inventory (DR)    Office Supplies (DR)    Other (DR)    Accounts Payable (CR)
    Oct 1    Outdoor Muzi    5455        30,000.00            30,000.00
    Oct 31    Total            30,000.00            30,000.00
                    120            200
    Cash Receipts                                Page 9
    Date    Account    PR    Cash (DR)    Sales Discounts (DR)    Accounts Receivable (CR)    Sales (CR)    Other (CR)    COGS / Inventory (DR/CR)
    Oct 8    Firewood Bill        900.00        900.00
    Oct 10    Outback Kian        ERROR:#REF!    3,500.00    ERROR:#REF!
    Oct 31    Total        ERROR:#REF!    3,500.00    ERROR:#REF!    0.00    0.00    0.00
                101    405    110    400    X    500/120
    Cash Payments                                Page 6
    Date    Account    Chq #    PR    Accounts Payable (DR)    Other (DR)    Inventory
(DR)    Inventory (CR)    Cash (CR)
    Oct 5    Outdoor Muzi    143        1,200.00                1,200.00
    Oct 5    Climb Foe    144                15,000.00        15,000.00
    Oct 31    Total            1,200.00    0.00    15,000.00    0.00    16,200.00
                    200    X    120    120    101
General Journal
    General Journal            Page 3
    Date    Account Title and Explanation    PR    DR    CR
    Oct 1    Merchandise Inventory    120    30,000.00
         Accounts Payable    200        30,000.00
        To record purchase on account
    Oct 2    Accounts Receivable    110    70,000.00
         Sales Revenue    400        70,000.00
         To record sales on account
    Oct 2    Cost of goods sold    500    19,950.00
         Merchandise Inventory    120        19,950.00
        Transfer of cost of goods sold
    Oct 5    Accounts Payable    200    1,200.00
         Cash (cheque 143)    101        1,200.00
        Paid invoice from Sept
    Oct 5    Merchandise Inventory    120    15,000.00
         Cash (cheque 144)    101        15,000.00
        to record purchase with cash/cheque
    Oct 7    Cash    101    5,000.00
         Merchandise Inventory    120        5,000.00
        To record merchandise Inventory return
    Oct 8    Cash    101    900.00
         Accounts Receivable    110        900.00
        To record payment rec'd on account
    Oct 10    Cash    101    66,500.00
        Sales Discount    405    3,500.00
         Accounts Receivable    110        70,000.00
        To record payment rec'd on account
    Oct 31    Salaries Exspence    540    8,400.00
         CPP Payable    220        416.00
         E.I Payable    225        158.00
         Income Tax Payable    230        1,680.00
        Salaries Payable    235        6,146.00
        To record employee Payroll
    Oct 31    Employee Benefits Exspnece    510    637.20
         CPP Payable    220        416.00
         E.I Payable    225        221.20
        To record Employer Payroll exspences
    Oct 31    Bank Charge Expence    545    60.00
         Cash    101        60.00
                145,550.00    217,633.20
AR Subledger
    Accounts Receivable Sub ledger Accounts
    Account:    Firewood Bill
    Date    Description    PR    DR    CR    Balance (DR or CR)
        Opening Balance                2,600.00    DR
    Oct 8        CR9        900.00    1,700.00    DR
    Account:    Outback Kian
    Date    Description    PR    DR    CR    Balance (DR or CR)
        Opening Balance                7,700.00    DR
    Oct 2        SJ4    70,000.00        77,700.00    DR
    ERROR:#REF!        GJ3        ERROR:#REF!    ERROR:#REF!    DR
    Oct 10        CR9        ERROR:#REF!    ERROR:#REF!    DR
    Account:    Moose Gear
    Date    Description    PR    DR    CR    Balance (DR or CR)
        Opening Balance                5,800.00    DR
    Account:    Salomon
    Date    Description    PR    DR    CR    Balance (DR or CR)
        Opening Balance                1,100.00    DR
    Account:    Day Hike
    Date    Description    PR    DR    CR    Balance (DR or CR)
        Opening Balance                800.00    DR
    Accounts Receivable Subledger Totals Report
    Customer    Balance
    Firewood Bill    1,700.00
    Outback Kian    ERROR:#REF!
    Moose Gear    5,800.00
    Salomon    1,100.00
    Day Hike    800.00
    Total    ERROR:#REF!
    Accounts Receivable     17,100.00
AP Subledger
    Accounts Payable Sub ledger Accounts
    Account:    Outdoor Muzi
    Date    Description    PR    DR    CR    Balance (DR or CR)
        Opening Balance                5,600.00    CR
    Oct 1        PJ7        30,000.00    35,600.00    CR
    Oct 5        CP6    1,200.00        34,400.00    CR
    Account:    Hiking T-shirt
    Date    Description    PR    DR    CR    Balance (DR or CR)
        Opening Balance                8,500.00    CR
    Account:    Climb Foe
    Date    Description    PR    DR    CR    Balance (DR or CR)
        Opening Balance                4,600.00    CR
    Accounts Receivable Subledger Totals Report
    Supplier    Balance
    Outdoor Muzi    34,400.00
    Hiking T-shirt    8,500.00
    Climb Foe    4,600.00
    Total    47,500.00
    Accounts Payable    47,500.00
General Ledger
    General Ledger Accounts
    Account:    Cash                GL No:    101
    Date    Description    PR    DR    CR    Balance (DR or CR)
    Oct 1    Opening Balance                26,800.00    DR
    Oct 5    Paid (cheque...
SOLUTION.PDF
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions ยป

Submit New Assignment

Copy and Paste Your Assignment Here
Have files?