What accounts payable balance appears in the general ledger

Assignment Help Financial Accounting
Reference no: EM13513245

Presented below is information related to Sims Company for its first month of operations. Determine the balances that appear in the accounts payable subsidiary ledger. What Accounts Payable balance appears in the general ledger at the end of January?

Credit Purchases                          Cash Paid

Jan. 5

Devon Co.

$11,000

Jan. 9

Devon Co.

$7,000

11

Shelby Co.

7,000

14

Shelby Co.

2,000

22

Taylor Co.

14,000

27

Taylor Co.

9,000

 

Reference no: EM13513245

Questions Cloud

How much is the stand compressed by the statue : A 3440 kg statue is supported by a glass stand. The cross-section of the stand is square, 0.15 m to a side. Before the statue was placed on the stand, How much is the stand compressed by the statue
How many women-children were working with the constructor : A contractor had employed 100 labourers for a flyover construction task. He did not allow any woman to work without her husband. Also, atleast half the men working came with their wives. He paid five rupees per day to each man, four ruppes to each wo..
What is the angular frequency of the motion : A person goes up and down in simple harmonic motion while standing on a trampoline. The amplitude is 0.125 m and it takes 1.3 s to complete one oscillation. What is the angular frequency of the motion
Discuss four methods of valuing stock : Discuss FOUR methods of valuing stock and distinguish between „Cost? and „Net realizable value?.
What accounts payable balance appears in the general ledger : Determine the balances that appear in the accounts payable subsidiary ledger. What Accounts Payable balance appears in the general ledger at the end of January?
Define what percentage of the steam-distillate is limonene : Limonene (MW 136) is a pleasant smelling liquid found in lemon and orange peels. The bp of limonene is 175, but it co-distills with water at 97.5. If the vapor pressure of water at 97.5 is 690 mm Hg, what percentage of the steam-distillate is limo..
How much time does he take to travel from home to church : A person travels on a cycle from home to church on a straight road with wind against him. He took 4 hours to reach there. On the way back to the home, he took 3 hours to reach as wind was in the same direction. If there is no wind, how much time does..
Briefly explain the major errors : What do you understand by the statement in quote above - Briefly explain the five major errors that do not affect the balancing of the Trial Balance.
Determine the value of the company inventory : Determine the value of the company's inventory under the lower-of-cost-ormarket approach.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Does the companys common stock have par value

How many shares of common stock are authorized at the end of the current year? How many shares are issued and outstanding at the end of the current year?

  Illustrate what total amount should be credited additional

The market value of the common stock at the date of the conversion was $30 per share. Illustrate what total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common..

  What amount should cox show in the investment account

What amount should Cox show in the investment account at December 31, 2012 if the beginning of the year balance in the account was $40,000?

  Explain what the following statement by handel 1982 p 36

explain what the following statement by handel 1982 p. 36 means and provide an argument to either support or oppose the

  Issue of the new bonds and the refunding of the bonds

Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds.

  Explain difference between profit and cash change

The general manager of Qantas had two concerns: the company's worsening cash position ($3000 cash and No bank loan at the end of 2011, No cash and a $7,000 bank loan at the end of 2012) and an inadequate level of net profit. (According to General ..

  What effect on the accounting equation

Which financial statement reports information helpful in assessing working capital and the purchase of office equipment of credit has what effect on the accounting equation?

  Questionvial-tek has a current loan in the amount of 35

questionvial-tek has a current loan in the amount of 3.5 million with an annual interest rate of 9.5. the company

  Prepare the tyler corporations balance sheet

Prepare the Tyler corporations balance sheet for December 2010. Tyler will publish his balance sheet on March 2011

  Will the bonds be priced at maturity-premium or discount

Assume that on April 1,2008, Roland Corp. issues 8%, 10-year bonds payable with a maturity value of $400,000. The bonds pay interest on March 31 and September 30, and Roland amortizes any premium and discount by the straight-line method.

  Question 1 capital expenditure decisions and investment

question 1 capital expenditure decisions and investment criteria - morten ltdin recent years morten ltd a company that

  Summarize the production process

Describe the product selected and summarize the production process - justify why you think this production process would dictate the use of a process costing system.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd