I’m studying for my Accounting class and don’t understand how to answer this. Can you help me study?
P-6-2 Larry’s Landscaping & Garden Supply – Purchases, disbursements, and accounts payable.
You know that beginning accounts payable, plus purchases on account minus purchase returns and allowances, minus payment on account equals ending accounts payable. Show that reconciliation by using the information available in QuickBooks for December 15, 2022 and beginning (November 30, 2022) and ending (December 15, 2022) accounts payable.
This is my first accounting class that I have to use any form of QuickBooks. We had to install QuickBooks 2018 on our desktop. Is there a particular report that I need to open to answer this question? I don’t know where to begin to answer it. Do I have to calculate (beginning accounts payable, plus purchases on account minus purchase returns and allowances, minus payment on account equals ending accounts payable)? Can you give me a step-by-step break down? Do I have to create an excel sheet? Thank you in advance for all the help.
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