Essay about Chapters 1- 3 Questions and Solutions

606 WordsFeb 21, 20143 Pages
ACCT 1150 Jex Chapter 1 End of Chapter Questions True/False 1. True 2. True 3. False 4. False 5. False 6. False 7. True 8. True 9. True 10. False Multiple Choice 1. C. qbw 2. B. Chart of Accounts 3. A. Are keyboard command shortcuts 4. A. Give commands to QuickBooks 5. B. An adding machine tape 6. A. Allows you to give commands to QuickBooks according to the type of transaction being entered 7. B. A picture 8. B. Help 9. D. A backup file 10. The title bar Fill-In 1. Whether you are using a manual or computerized accounting system, transactions must still be ANALYZED, RECORDED IN A JOURNAL, and POSTED TO A LEDGER. 2. The FILE MENU is used to open and close a company and may also be used to exit…show more content…
To verify the company being used in QuickBooks you check the TITLE BAR. Short Essay In QuickBooks all you need to do is enter the accounts receivable amount into the individual customers list in the receivable section. QuickBooks does the rest for you rather than having to write in the individual debits and credits yourself. ACCT 1150 Jex Chapter 3 Questions True/False 1. True 2. False 3. True 4. True 5. True 6. True 7. False 8. True 9. False 10. False Multiple Choice 1. D. both a and b 2. C. both a and b 3. A. enters the name of the vendor if the name is on the vendor list 4. D. all of the above 5. B. Landscape 6. C. in the accounts payable register 7. C. it is removed without a trace 8. A. press the + key 9. B. using the pay bills window 10. B. using the pay bills window Fill In 1. The CHECK FACE section is used to record the check date, payee, and amount for the actual check. The DETAIL AREA is used to record the accounts used for the bill, the amount for each account used, and transaction explanations. 2. An accounts payable graph by aging period shows a BAR chart detailing the amounts due by aging period and a PIE chart showing the percentage of the total amount payable owed to each vendor. 3. Three different check styles may be used in QuickBooks: Voucher, Standard, and Wallet. 4. The keyboard shortcut to edit or modify an account in the Chart of Accounts is CTRL+E 5. Petty cash is identified as a BANK account type

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