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Newton Learning Centers was established on October 20, 2012, to provide educational services. The services provided during the remainder of the month are as follows:

Oct. 21. Issued Invoice No. 1 to J. Dunlop for 60onaccount.22.IssuedInvoiceNo.2toK.Toddfor60 on account. 22. Issued Invoice No. 2 to K. Todd for 255 on account. 24. Issued Invoice No. 3 to T. Patrick for 55onaccount.25.Providededucationalservices,55 on account. 25. Provided educational services, 100, to K. Todd in exchange for educational supplies. 27. Issued Invoice No. 4 to F. Mintz for 150onaccount.30.IssuedInvoiceNo.5toD.Chasefor150 on account. 30. Issued Invoice No. 5 to D. Chase for 135 on account. 30. Issued Invoice No. 6 to K. Todd for 105onaccount.31.IssuedInvoiceNo.7toT.Patrickfor105 on account. 31. Issued Invoice No. 7 to T. Patrick for 70 on account.

Instructions

  1. Journalize the transactions for October, using a single-column revenue journal and a two-column general journal. Post to the following customer accounts in the accounts receivable ledger, and insert the balance immediately after recording each entry: D. Chase; J. Dunlop; F. Mintz; T. Patrick; K. Todd.

  2. Post the revenue journal and the general journal to the following accounts in the general ledger, inserting the account balances only after the last postings:

12 Accounts Receivable 13 Supplies 41 Fees Earned

  1. a. What is the sum of the balances of the accounts in the subsidiary ledger at October 31? b. What is the balance of the controlling account at October 31?

  2. Assume Newton Learning Centers began using a computerized accounting system to record the sales transactions on November 1 . What are some of the benefits of the computerized system over the manual system?

Question

Choose a word to replace the italicized word in each sentence. All of the possible choices for each sentence have similar definitions, but the correct answer will have a connotation that best suits the context. For example, the words "delete," "destroy," and "obliterate" all mean "to remove or wipe out, but no one would ever say, "I destroyed the name from the document." The correct choice will be the word that has the best specific meaning and does not render the sentence awkward in tone or content. When choices seem close, look for a clue in the context that makes one choice better than the other. Note that the correct answer is not always the primary vocabulary word from the lesson. confused, austere, poor, erudite, inane, hard, destitute, slovenly, unkempt, dumb, inhospitable, educated, freezing. Though the lady's maid had grown up in poverty, her smart speech and vast knowledge revealed that she had received a superior education. Better word: _____

Solution

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Answered 2 months ago
Answered 2 months ago

Erudite

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