VIII
Summarize the subsidiary journals.
Post completely.
Take a trial balance of the general ledger as of March 31.
Prove the totals of the subsidiary accounts against the totals of their respective controlling accounts.
IX
Summarized transactions for April were:
- Purchases:
- American Dry Goods Co., 2/10, n/60, $8,292.50.
- Associated Dry Goods Co., 2/10, n/60, $7,784.90.
- Claflins, Inc., 2/10, 1/30, n/60, $10,467.70.
- Miller & Rhoades, Inc., 2/10, 1/30, n/60, $6,742.80.
- U. S. Dry Goods Co., 3/10, 2/15, n/60, $8,276.40.
- Marshall Field & Co., 3/10, 2/15, n/60, $28,450.
- Wico Mills, Inc., 2/10, 1/30, n/60, $4,970.80.
- Cash purchases $1,988.75.
- Sales:
- Arnold Sheriff & Co., 2/10, 1/15, n/30, $7,145.90.
- Atlas Dry Goods Co., 2/10, n/30, $6,890.70.
- Baird Dry Goods Co., 2/10, 1/15, n/30, $7,294.60.
- Bostonian Dry Goods Co., 2/10, 1/15, n/30, $9,874.50.
- Century Dress Goods Co., 2/10, n/30, $4,927.90.
- Daniel & Co., 2/10, n/30, $7,847.40.
- Hudson Dry Goods Co., 2/10, 1/15, n/30, $8,475.90.
- Henry Miller, 2/10, n/30, $5,982.90.
- Rogers & Son, 2/10, n/30, $7,826.90.
- Southern Dry Goods Co., 2/10, n/30, $7,495.80.
- Thompson Hudson Co., 2/10, n/30, $6,475.80.
- Young, Smith, Field Co., 2/10, n/30, $5,162.70.
- Cash sales $1,920.80.
- Journal:
- Returned to Marshall Field & Co., $1,250 worth of merchandise
- of the February purchase, cash adjustment effective as of
- April 15 to be made at time of paying note.
- Returned goods to Miller & Rhoades, Inc., $650.
- Transferred a desk costing $125 from the office to the sales
- department of store.
- Received returned goods from Bostonian Dry Goods Co.,
- $1,090; and from Henry Miller $785.
- Received a 30-day 6% note from the Silk & Dress Goods Exchange
- for January bill $3,780.40, due May 23.
- Out-freight for March was $152.90.
- The failure to book a payment of $10 for repairs on an
- annunciator partly explained the cash shortage in March.
- Cash Receipts:
- Note of Metropolitan Dry Goods Co. for $4,180 was paid
- April 15, with interest.
- Burrows Dry Goods Co., balance of December bill, $1,000.
- Eagle Dress Goods Co., March bill $3,105 less 2%.
- Emporium Dry Goods Co., February bill $4,793.80 net.
- Falk & Taylor, March bill $4,790 less 2%.
- Macmillian & Co., March bill $2,476.50 less 2%.
- Marquis Dress Goods Co., balance of January bill $3,782.50 net.
- T. H. Miller, March bill $6,237.40 less 2%.
- Melrose Dry Goods Co., balance March bill $6,406.90 less 1%.
- New York Silk Co., February bill $3,874.70 net.
- National Dress Co., on account, December bill, $1,000.
- Arnold Sheriff & Co., April bill $7,145.90 less 2%.
- Baird Dry Goods Co., April bill $7,294.60 less 2%.
- Hudson Dry Goods Co., April bill, $8,475.90 less 2%.
- Southern Dry Goods Co., April bill $7,495.80 less 2%.
- Thompson Hudson Co., April bill $6,475.80 less 2%.
- Young, Smith, Field Co., April bill $5,162.70 less 2%.
- The firm discounted its 90-day 6% note, due July 15,
- at the Merchants National Bank for $5,000.
- The receivers for Wilson Williams Co. declared another
- liquidating dividend of 15%.
- Received from the railroad $25, an overcharge on demurrage.
- Cash Disbursements:
- Sales salaries $2,975.
- Salesmen’s traveling expense $2,243.60.
- Delivery expense $763.87.
- Packing supplies $513.90.
- Advertising for April $3,000, and for May $3,000,
- less $250 as discount for prepayment.
- Freight bills $297.60.
- Light and heating $212.50.
- Office salaries $2,140.
- Office supplies $365.70.
- Office expense $988.95.
- General expense $897.12.
- Rent for May $1,250.
- Bentley, Gray & Co., March bill $10,890.45 less 2%.
- Wico Mills, Inc., March bill $8,337.80 less 2%.
- U. S. Dry Goods Co., March bill $7,609.40 less 2%.
- Wm. Taylor, Son & Co., March bill $8,942.50 less 2%.
- American Dry Goods Co., April bill $8,292.50 less 2%.
- Claflins, Inc., April bill $10,467.70 less 2%.
- Newcomb Endicott Co., March bill $7,414 less 2%.
- Miller & Rhoades, Inc., balance of April bill, $6,092.80 less 2%.
- Woolsey withdrew April 30 $500; Cotten, $400; and Wooster $500.
- New adding machine and desks for office $500.
- Paid taxes $190.
Instructions
Include the discount received on advertising with the purchase discounts. The charge to Advertising will, therefore, be gross.