Solved: Pennington company has a balance in its accounts payable, Accounting Basics

+44 141 628 6080
[email protected]

Pennington company has a balance in its accounts payable

Question - Pennington Company has a balance in its Accounts Payable control account of $9,250 on January 1, 2014. The subsidiary ledger contains three accounts: Hale Company, balance $3,000; Janish Company, balance $1,875; and Valdez Company. During January, the following payable-related transactions occurred.

	Purchases	Payments	Returns
Hale Company	$6,750	$6,000	$ -0-
Janish Company	5,250	1,875	2,250
Valdez Company	6,375	6,750	-0-

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

View Complete Question

Solution Preview :

Prepared by a verified Expert

Accounting Basics: Pennington company has a balance in its accounts payable

Reference No:- TGS02810345

Now Priced at $25 (50% Discount)

Recommended (93%)

Rated (4.5/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Statment by client indicates the need for further teaching

The nurse is providing nutritional counseling. Which statment by the client indicates the need for further teaching?

Patient newly diagnosed with polycystic kidney disease

Question: The nurse is teaching a client who is newly diagnosed with polycystic kidney disease (PKD).

What is the cause of this metabolic state

pH7.55 PaCO2 30 mm Hg PaO2 65 mm Hg What is the cause of this metabolic state? Ali is a 37 yo man, who presents to the nurse practitioner a

Recommendations made for anticoagulation therapy

What recommendations might be made regarding J.P.'s anticoagulation therapy?

Client for first time is doing a medication reconciliation

The home health nurse visiting the client for the first time is doing a medication reconciliation. What action would the nurse perform during this procedure?

Express concern about an abnormal lab value report

Jane Smith emailed her physician, Dr. Ward, to express concern about an abnormal lab value report she received during her last physical exam.

Requirement to provide treatment to newborns

Multiple Select Question Select all that apply Identify the exceptions to the requirement to provide treatment to newborns.

Solution Preview :

Prepared by a verified Expert

Accounting Basics: Pennington company has a balance in its accounts payable

Reference No:- TGS02810345

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : How much higher would the rate of return be on a 10-year

Q : If the bonds yield to maturity drops by 1 when you sell it

Q : Suppose you read in the wall street journal that the price

Q : Suppose you receive dollar 500 at the end of each year for

Q : Pennington company has a balance in its accounts payable

Q : What is the probability that your return on these bonds

Q : What would your percentage price return be what would the

Q : Hulses sales journal for january shows a total of 110000 in

Q : Assume you have 800000 invested in various accounts and