Ask Experts Questions for FREE Help !
Ask
    vjpepenelli's Avatar
    vjpepenelli Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 30, 2016, 04:04 PM
    Pennington Company has a balance in its Accounts Payable control account of $8,220 o
    Pennington Company has a balance in its Accounts Payable control account of $8,220 on January 1, 2017. The subsidiary ledger contains three accounts: Hale Company, balance $2,900; Janish Company, balance $1,500; and Valdez Company. During January, the following payable-related transactions occurred.

    Purchases
    Payments
    Returns
    Hale Company $6,770 $5,540 $ 0
    Janish Company 5,290 1,500 2,940
    Valdez Company 6,655 6,570 0


    [TABLE="width: 100%"]
    [TR]
    [TABLE="width: 100%"]
    [TR]
    [TD="width: 8, bgcolor: #f6f9fb"][/TD]
    [TD]
    What is the January 1 balance in the Valdez Company subsidiary account?

    Balance in the Valdez Company subsidiary account $

    [TD]
    What is the January 1 balance in the Valdez Company subsidiary account?

    Balance in the Valdez Company subsidiary account $

    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
    Uber Member
    		  
    #2

    Mar 30, 2016, 07:38 PM
    We don't do homework, particularly Cut and Paste that you didn't even read. Show us your work.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #3

    Mar 31, 2016, 10:29 PM
    The formula is simple opening balance plus purchases less payments and returns
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Accounts payable balance [ 1 Answers ]

13. On June 1,2005 P Music has accounts payable of 45K. During the month, debits of 3K and credits of 11K were made to the account. At the end of June 2005, what was the accounts payable balance -debit balance of 53K -debit balance of 42K -credit balance of 53K - credit balance of 56 K I...

Accounts payable balance [ 20 Answers ]

On October 1, 2012, Metz Industries had an Accounts Payable balance of $60,000. During the month, the company made purchases on account of $50,000 and made payments on account of $80,000. At October 31, 2012, the Accounts Payable balance is $60,000 debit $20,000 credit ...

Trent Company's trial balance of 12/31/10 appear below: 1. Accounts Payable $ 160,000 [ 1 Answers ]

I am trying to do an adjusting trial balance but I can't get it Trent Company's trial balance of 12/31/10 appear below: 1. Accounts Payable $ 160,000 2. Accounts Receivable 150,000 3. Accumulated Depreciation--Equipment 200,000 4. Allowance for Doubtful Accounts 20,000 5. Bonds Payable 500,000 6....

If a company has $49,800 in Accounts Payable, $117,375 in Accounts Receivable, $306,0 [ 1 Answers ]

If a company has $49,800 in Accounts Payable, $117,375 in Accounts Receivable, $306,000 in Cash and $7,500 in Supplies, what is the net income for this company? Explain answer.

Accounts payable not show up on balance sheet in peachtree [ 1 Answers ]

When entering bills into peachtree those payables are not included in the balance sheet as "accounts payable" even though those are bills due. Am I missing something? Is there a way to set the company up to view those transactions? Thanks for your help!

View more questions Search