General ledger accounts

by | Mar 28, 2020 | Accounting

Shoes Supreme used the perpetual inventory system. All of its credit sales have the terms 2/10, n/30. Shoes Supreme incurred the following November 2018 transactions:

Nov. 3: Issued invoice # 220 for $ 8,000 sales on account to Wilson Ltd. Cost of this inventory was $ 4,500.
Nov. 4: $ 20,000 Inventory was purchased on account from Dancing Shoes Ltd. The terms were 4/10, n/60.
Nov. 5: Received $ 2,000 cash for selling inventory. Cost of this inventory was $ 1,200.
Nov. 6: Purchased supplies for $ 3,300. It was paid by cheque # 330.
Nov. 8: Received $ 7,000 interest revenue.
Nov. 10: Issued invoice # 221 for $ 20,000 sales on account to Private Design Ltd. Cost of this inventory was $ 12,000.
Nov. 11: Purchased $ 2,800 office furniture. It was paid by cheque # 331.
Nov. 12: Received $ 7,840 from Wilson Ltd. in full settlement of its accounts receivable.
Nov. 13: Paid Dancing Shoes Ltd. with cheques # 332.
Nov. 15: Purchased $ 9,000 inventory on account from Laces Ltd. The terms were 2/10, n/60.
Nov. 16: Issued invoice # 222 for $ 9,000 sales on account to Children’s Wear Ltd. Cost of this inventory was $ 6,500.
Nov. 17: Issued credit memo to Children’s Wear Ltd. for $ 9,000 for merchandise sent by mistake and was returned to Shoes Supreme. Also accounted for receipt of the inventory.
Nov. 18: Issued invoice # 223 for $ 4,000 sales on account to Wilson Ltd. Cost of this inventory was $ 2,800.
Nov. 19: Received $ 19,600 from Private Design Ltd. in full settlement of its accounts receivable.
Nov. 20: Purchased $ 10,000 inventory on account from Jones Ltd. The terms were net 30.
Nov. 21: Purchased $ 22,000 brochures on account from Direct Printing Ltd. The terms were 2/10, n/60. Advertising Expense was debited.
Nov. 22: Paid Radio Ltd. $ 30,000 with cheques # 333 to place radio ads to air the last week in December. Prepaid Advertising was debited.
Nov. 23: Sold supplies to an employee for $ 100 cash, which was the cost of the supplies.
Nov. 25: Paid $ 300 telephone bill with cheques # 334.
Nov. 26: Purchased $ 15,000 inventory on account from Laces Ltd. The terms were 3/10, n/30.
Nov. 27: Returned defective inventory to Laces Ltd. Issued a debit memo for $ 2,000.
Nov. 28: Issued invoice # 224 for $ 7,000 sales on account to Private Design Ltd. Cost of this inventory was $ 5,400.
Nov. 28: Received $ 3,920 from Wilson Ltd. in full settlement of its accounts receivable.
Nov. 30: Paid $ 2,000 salary with cheques # 335.
Required:

Open Shoes Supreme’s general ledger accounts using the following chart of account numbers provided:
Open these accounts in the accounts receivable subsidiary ledger accounts: Private Design Ltd., Children’s Wear Ltd., and Wilson Ltd. Open these accounts in the accounts payable subsidiary ledger accounts: Dancing Shoes Ltd., Laces Ltd., and Jones Ltd.
Record the above November transactions in a sales journal (page 7), a cash receipts journal (page 4), a purchases journal (page 5), a cash payments journal (page 8), and a general journal (page 5). Ignore PST and GST.
Post daily to the accounts receivable and accounts payable subsidiary ledgers. Post the individual amounts to the general ledger accounts on the date recorded in the journals. Post column journal totals to the general ledger accounts on November 30.
Total the columns in the journals. Illustrate that the total debits equal the total credits in each journal.
Balance/reconcile the accounts receivable subsidiary ledgers and the accounts receivable in the general ledger. Balance/reconcile the accounts payable subsidiary ledgers and the accounts payable in the general ledger.
Cash

100

Sales Discounts

410

Accounts Receivable

110

Sales Returns & Allowances

420

Supplies

120

Interest Revenue

430

Prepaid Advertising

130

Cost of Goods Sold

500

Inventory

140

Salary Expense

510

Office Furniture

150

Advertising Expense

520

Accounts Payable

200

Telephone Expense

530

Sales Revenue

400

Sample Solution

Sample solution

Dante Alighieri played a critical role in the literature world through his poem Divine Comedy that was written in the 14th century. The poem contains Inferno, Purgatorio, and Paradiso. The Inferno is a description of the nine circles of torment that are found on the earth. It depicts the realms of the people that have gone against the spiritual values and who, instead, have chosen bestial appetite, violence, or fraud and malice. The nine circles of hell are limbo, lust, gluttony, greed and wrath. Others are heresy, violence, fraud, and treachery. The purpose of this paper is to examine the Dante’s Inferno in the perspective of its portrayal of God’s image and the justification of hell. 

In this epic poem, God is portrayed as a super being guilty of multiple weaknesses including being egotistic, unjust, and hypocritical. Dante, in this poem, depicts God as being more human than divine by challenging God’s omnipotence. Additionally, the manner in which Dante describes Hell is in full contradiction to the morals of God as written in the Bible. When god arranges Hell to flatter Himself, He commits egotism, a sin that is common among human beings (Cheney, 2016). The weakness is depicted in Limbo and on the Gate of Hell where, for instance, God sends those who do not worship Him to Hell. This implies that failure to worship Him is a sin.


This question has been answered

God is also depicted as lacking justice in His actions thus removing the godly image. The injustice is portrayed by the manner in which the sodomites and opportunists are treated. The opportunists are subjected to banner chasing in their lives after death followed by being stung by insects and maggots. They are known to having done neither good nor bad during their lifetimes and, therefore, justice could have demanded that they be granted a neutral punishment having lived a neutral life. The sodomites are also punished unfairly by God when Brunetto Lattini is condemned to hell despite being a good leader (Babor, T. F., McGovern, T., & Robaina, K. (2017). While he commited sodomy, God chooses to ignore all the other good deeds that Brunetto did.

Finally, God is also portrayed as being hypocritical in His actions, a sin that further diminishes His godliness and makes Him more human. A case in point is when God condemns the sin of egotism and goes ahead to commit it repeatedly. Proverbs 29:23 states that “arrogance will bring your downfall, but if you are humble, you will be respected.” When Slattery condemns Dante’s human state as being weak, doubtful, and limited, he is proving God’s hypocrisy because He is also human (Verdicchio, 2015). The actions of God in Hell as portrayed by Dante are inconsistent with the Biblical literature. Both Dante and God are prone to making mistakes, something common among human beings thus making God more human.

To wrap it up, Dante portrays God is more human since He commits the same sins that humans commit: egotism, hypocrisy, and injustice. Hell is justified as being a destination for victims of the mistakes committed by God. The Hell is presented as being a totally different place as compared to what is written about it in the Bible. As a result, reading through the text gives an image of God who is prone to the very mistakes common to humans thus ripping Him off His lofty status of divine and, instead, making Him a mere human. Whether or not Dante did it intentionally is subject to debate but one thing is clear in the poem: the misconstrued notion of God is revealed to future generations.

 

References

Babor, T. F., McGovern, T., & Robaina, K. (2017). Dante’s inferno: Seven deadly sins in scientific publishing and how to avoid them. Addiction Science: A Guide for the Perplexed, 267.

Cheney, L. D. G. (2016). Illustrations for Dante’s Inferno: A Comparative Study of Sandro Botticelli, Giovanni Stradano, and Federico Zuccaro. Cultural and Religious Studies, 4(8), 487.

Verdicchio, M. (2015). Irony and Desire in Dante’s” Inferno” 27. Italica, 285-297.

This question has been answered.

Get Answer