Question

Prepare Journal Entries in a Purchases Journal
Guardian Services Inc. had the following transactions during the month of April:
Apr. 4. Purchased office supplies from Officemate, Inc. on account, $620.
Apr. 9. Purchased office equipment, Inc. on account from Tek Village Inc., $2,460.
Apr. 16. Purchased office supplies from Officemate, Inc. on account, $170.
Apr. 19. Purchased office supplies from Paper-to-Go Inc. on account, $250.
Apr. 27. Paid invoice on April 4 purchase from Officemate, Inc.
a. Prepare a purchases journal to record the April purchase transactions for Guardian Services Inc. If an amount box does not require an entry, leave it blank.
If no entry is required in "Other Accounts Dr." then select "No entry required".
PURCHASES JOURNAL
DATE Account Credited Post. Ref. Accounts Payable Cr. Office Supplies Dr. Other Accounts Dr. Post. Ref. Amount
Apr. 4
Apr. 9
Apr. 16
Apr. 19
Apr. 30 Total
b. What is the total amount posted to the accounts payable and office supplies accounts from the purchases journal for April?
Credit to Accounts Payable $
Debit to Office Supplies $
c. What is the April 30 balance of the Officemate Inc. creditor account assuming a zero balance on April 1?
$ ____________

Answer 1

Answer:

Explanation:

DATE Account AccountsPayable OfficeSupplies OtherAccounts

         Credited         credit                   debit                  debit

Apr. 4  Officemate    $620                 $610                 no entry

Apr. 9  Tek Village    $2,460                                       $2,460

Apr. 16Officemate     $170                   $170                  no entry

Apr. 19  Paper to Go $250                 $250                 no entry

Apr. 30 Total          $3,500                 $1050                $2,460

b. Total amount posted / credited to accounts payable=  $( 620+2,460 + $170 + 250) = $3500

Total amount from and debited from Office supplies = $(610 + 170+ 250) = $1050

What is the April 30 balance of the Officemate Inc. creditor account assuming a zero balance on April 1?

$ __170____ ie $ 610 + 170 - 610( because invoice on April 4th was paid on April 27th.