Question

You employed a trainee to fill in for you whilst you were on holidays. Upon your...

You employed a trainee to fill in for you whilst you were on holidays. Upon your return you discovered that whilst the special journals were completed there were no postings to the subsidiary and general ledgers.

You must now post the following Purchases and Cash Payments Journals into the Subsidiary and General Ledgers.

All answers are numbers which consist only of the digits 0 to 9. Symbols or punctuation marks should NOT be incorporated in answers. The only exception is dates which should be in the format dd/mm/yy - 2 digits for the day, month and year (eg 01/06/20).

Purchases Journal (P1)

Date

Account Credited

Terms

Post Ref

Accounts Payable

Inventory

GST

05/06/20 Ajax Supplies Nil 16500 15000 1500
Total 16500 15000 1500

Cash Payments (CP1)

Date

Account Debited

Post Ref

Accounts Payable

Cash at Bank

10/06/20 Ajax Supplies 15300 15300
20/06/20 Ajax Supplies 13000 13000
Total 28300 28300

Subsidiary Ledgers

Ajax Supplies
Date Explanation Ref Dr Cr Balance
01/06/13 Opening Balance 28300
Answer Answer Answer Answer
Answer Answer Answer Answer
Answer Answer Answer Answer
Closing Balance Answer

General Ledger

Cash At Bank Account No.101
Date Explanation Ref Dr Cr Balance
01/06/20 Opening Balance 19500
30/06/20 CR1 39800 Answer
Answer Answer Answer Answer
Closing Balance Answer
Inventory Account No.120
Date Explanation Ref Dr Cr Balance
01/06/20 Opening Balance 57000
30/06/20 S1 35000 Answer
Answer Answer Answer Answer
Closing Balance Answer
Accounts Payable Account No.202
Date Explanation Ref Dr Cr Balance
01/06/20 Opening Balance 28300
Answer P1 Answer 44800
Answer Answer Answer Answer
Closing Balance Answer

Homework Answers

Answer #1
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Subsidiary Ledgers
Ajax Supplies
Date Explanation Ref Dr Cr Balance
01-06-2020 Opening Balance $     28,300
05-06-2020 P1 $   16,500 $     44,800
10-06-2020 CP1 $                     15,300 $     29,500
20-06-2020 CP1 $                     13,000 $     16,500
Closing Balance $     16,500
General Ledger
Cash At Bank Account No.101
Date Explanation Ref Dr Cr Balance
01-06-2020 Opening Balance $     19,500
30-06-2020 CR1 $                     39,800 $     59,300
30-06-2020 CP1 $   28,300 $     31,000
Closing Balance $     31,000
Inventory Account No.120
Date Explanation Ref Dr Cr Balance
01-06-2020 Opening Balance $     57,000
30-06-2020 S1 $   35,000 $     22,000
30-06-2020 P1 $                     15,000 $     37,000
Closing Balance $     37,000
Accounts Payable Account No.202
Date Explanation Ref Dr Cr Balance
01-06-2020 Opening Balance $     28,300
30-06-2020 P1 $   16,500 $     44,800
30-06-2020 CP1 $                     28,300 $     16,500
Closing Balance $     16,500
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