Exercises
Ex. 66
After Artie Company had completed all posting for the month of December, the sum of the balances in the following accounts payable subsidiary ledger did not agree with the balance of the control account in the general ledger.
NameAston's
Address286 Buck Avenue
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DateItemPost. Ref.DebitCreditBalance
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Dec.2P252,4002,400
NameCarson Company
Address818 Western Avenue
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DateItemPost. Ref.DebitCreditBalance
——————————————————————————————————————————
Dec.1Balance7,600
10CP237,600—
20P323,3003,300
29J153003,600
NameDiana Fenn Company
Address90210 Baker Boulevard
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DateItemPost. Ref.DebitCreditBalance
——————————————————————————————————————————
Dec.1Balance9,900
18CP289,900—
29P3412,6002,700
NameMaria Lopez
Address2720 Sommers Avenue
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DateItemPost. Ref.DebitCreditBalance
——————————————————————————————————————————
Dec.8P276,0006,000
27P338,00014,000
Ex. 66(cont.)
NameOster Supplies
Address1560 Puckett Street
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DateItemPost. Ref.DebitCreditBalance
——————————————————————————————————————————
Dec.1Balance8,200
7P265,60012,800
12J1142012,380
20CP298,00020,380
The balance in the Accounts Payable control account of $37,380 has been verified as correct. Also assume that the journals references in the Post Ref. columns of the accounts payable subsidiary ledger have been verified as correct.
Instructions
Determine the errors in the preceding accounts payable subsidiary accounts and prepare a corrected schedule of accounts payable.