A blank schedule of accounts payable is given in the Working Papers. Use Golden Fabrics' cash payments journal from the previous Work Together and the accounts payable and general ledgers from the previous Work Together.

3. Post the cash payments journal to the general ledger.

Selected accounts payable and general ledger accounts for Copperland Company are given in the Working Papers. Use the purchases journal from the previous exercise.

3. Post the purchases journal to the general ledger.

Select accounts payable and general ledger accounts for Electronic Source are given in the Working Papers. Use the purchases journal from the previous exercise.

Instructions:

Post the purchases journal to the general ledger.

What is recorded in the general amount columns of the cash payments journal?

What is the relationship between a controlling account and a subsidiary ledger?

Selected accounts payable and general ledger accounts for Golden Fabrics are given in the Working Papers. Use the purchases journal from the previous exercise.

3. Post the purchases journal to the general ledger.

What is the principal difference between the accounting records of proprietorships and corporations?

What allows a corporation to own property, incur liabilities, and enter into contracts in its own name?

Using the worksheet, make a decision on whether to accept the extra percentage trade discount or free shipping on the following purchases:

2. Surveillance cameras with a list price of $9,250.00 plus$490.00 shipping. Keller's regular trade discount on electronic equipment is 58%.

Accounts payable ledger forms are given in the Working Papers.

2. Start a new page for an accounts payable ledger account for Value Distributors. The account number is 250, and the balance on November 1 of the current year is $3,231.60.

At the start of each new school year families rush to Staples to purchase school supplies. Shopping carts are filled with everything from pens and paper to computers and printers. Some customers may glance at the product packaging to learn in what country the product was manufactured. But few customers likely will know or have any way of knowing exactly how the product was manufactured.

Staples is committed to ensuring that the products sold in its stores are manufactured responsibly. The company expects its suppliers to treat their workers fairly and use raw materials and environmentally friendly manufacturing methods. To communicate these standards Staples provides its suppliers with a Supplier Code of Conduct.

The code's ten sections address many issues, including unethical employment practices such as the use of child and forced labor, harassment, and discrimination. Suppliers must provide their employees with a safe working environment and follow applicable laws for emissions and hazardous waste disposal. Corruption and the misuse of intellectual property are prohibited.

Staples is actively involved in monitoring its suppliers' compliance to the code, and the company maintains the right to inspect its suppliers' factories. If a supplier is unable or unwilling to follow the code, Staples may stop purchasing from the supplier.

2. What businesses other than office supply companies could benefit from monitoring their suppliers' factories?

Why would a vendor offer a cash discount to a customer?

List the five steps for ruling a cash payments journal at the end of the month.

Accounts payable ledger forms are given in the Working Papers.

Instructions:

2. Start a new page for an accounts payable ledger account for Reston Corporation. The account number is 250, and the balance for September 1 of the current year is $3,047.40.