Ultimate Writer wk 2
Cclegg00
week_2_problem_4.docxOn January 7, 2016, Captec Company purchased $4,175 of supplies on account . In Captec Company’s chart of accounts , the supplies account is No. 15, and the accounts payable account is No. 21.
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Required: |
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A. |
Journalize the January 7, 2016, transaction on page 33 of Captec Company’s two-column journal . |
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B. |
Prepare a four-column account for Supplies. Enter a debit balance of $2,200 as of January 1, 2016. Enter “Balance” in the Item column and place a check mark (√) in the Posting Reference column. |
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C. |
Prepare a four-column account for Accounts Payable. Enter a credit balance of $18,430 as of January 1, 2016. Place a check mark (√) in the Posting Reference column. Enter “Balance” in the Item column and place a check mark (√) in the Posting Reference column. |
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D. |
Post the January 7, 2016, transaction to the accounts. |
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E. |
Do the rules of debit and credit apply to all companies?
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