Selected account balances for Hulse Company at January 1,2014 are presented below.
Accounts Payable $14,368
Accounts Receivable 22,026
Hulse’s sales journal for January shows a total of
$110,085 in the selling price column, and its one-column
purchases journal for January shows a total of $77,656.
The column totals in Hulse’s cash receipts journal are: Cash Dr. $61,658; Sales Discounts Dr. $1,018; Accounts Receivable Cr. $44,215; Sales Revenue Cr. $5,078; and Other Accounts Cr. $13,383.
The column totals in Hulse's cash payments journal for January are: Cash Cr. $54,977; Inventory Cr. $2,612; Accounts Payable Dr. $45,081; and Other Accounts Dr. $12,508. Hulse’s total cost of goods sold for January is $62,055.
Accounts Payable, Accounts Receivable, Cash, Inventory, and Sales Revenue are not involved in the “Other Accounts” column in either the cash receipts or cash payments journal, and are not involved in any general journal entries.
Compute the January 31 balance for Hulse in the following accounts.
(a) Accounts Payable $
(b) Accounts Receivable $
(c) Cash $
(d) Inventory $
(e) Sales Revenue $
Assignment DescriptionEffective CommunicationThe Joint Commission reported that [poor] communication was th...
vPost Discussion: Budgeting PoliciesIn chapter 14 of the text, the author discusses a number of different policies...
Please click on the attachment for details. This assignment need to be 700-1,050 words. This is a master's course and needs to be in A...
The following information is only an overview. You will use a selected article (meeting all assignment requirements) about a legal/ethical...
Student Emergency. In need of 5-10 slides detailing the Costs and budgets of the WaterMethodology. The timeline is firm....
The complete question file was attached below. Please have a look.The first question is for a symmetric matrix system(a) per...
Ask Your Questions, We'll notify you once someone answers it
Your question was successfully posted. We'll notify you once we get an answer. Kindly save this question ID for your reference.