ayroll records serve as backup for

Q: Describe an account and its use in recording transactions.

A: Accounting reports are papers and books used to manage records.

Q: Customer payments received in advance of the product or service being provided is recorded in which…

A: The company can collect advance from the customer before sale of the goods. This method of…

Q: In recording an accounting transaction in a double-entry system

A: Double entry, a fundamental concept underlying present-day bookkeeping and accounting, states that…

Q: Explain how to open a new account in the accounts payable ledger

A: The accounts payable ledger ia a subsidiary ledger which contains the details of all vendors to whom…

Q: Post the entries to the ledger accounts

A: Ledger Account The purpose of preparing ledger account to know the ending balance which are used for…

Q: A subsidiary ledger that contains a separate account for each supplier (creditor) to the company is…

A: Subsidiary ledger refers to the ledger that provides the detailed information of the account already…

Q: A. Pass Journal Entries B. Prepare Ledger Accounts

A: Journal entry is the entry which is recorded at the time of transaction and is recorded on the…

Q: How to close the Revenue accounts journal entry

A: Closing entries are used to transfer the balance from a temporary account to a permanent account. We…

Q: Sales receipts, purchase orders, and payroll records are all examples of accounting transactions…

A: Book keeper is the employee of the company who is responsible to record the original transactions…

Q: The collection of accounts of Customer Alexander is recorded as a credit to the ledger of Customer…

A: This error is a self balancing error. One account is credited instead of other. It auto balances the…

Q: Post to the ledger accounts.

A: The process of recording business transactions in the books of accounts for the first time is…

Q: In quickbooks, What is the process for setting up the payroll system?

A: QuickBooks: QuickBooks are accounting software that provides various types of tools to manage your…

Q: Which entity is most likely to be part of both the payroll cycle Pand the expenditure cycle اختواحد…

A: Cash disbursement represents the distribution of cash from one party to another. It is the cash…

Q: The subsidiary ledger that includes customer account activity is called the a. asset ledger b.…

A: Under subsidiary ledger, all activities related to customer is recorded.

Q: Distinguish between an accounts payable file and a vouchers payable file.

A: Accounts Payable system:   The accounts payable system looks over the due payments to be processed…

Q: The usual sequence of steps in the transaction recording process is O analyze, journalize, post to…

A: Journal is a book of entries in which all the transactions made by the company are recorded…

Q: Which accountant tool in QuickBooks Online helps identify transactions that may have been removed…

A: Option B is correct B.Voided /Deleted transactions. In case any of the transactions have been…

Q: Function Missing words Customer billing for provided Receipt and processing of and services Managing…

A: Debtors represent the term that is used when a payment is due to be received from the customers and…

Q: to the accounts payable control le = ledger. unts Payable to prove the balance

A: The entries are given as,

Q: What happens to the special journal in a computerized accounting system that uses electronic forms?

A: In computerised accounting system the transactions are recorded in electronic form. Almost all…

Q: en posting transactions to the general ledger, use the transaction

A: After posting each journal entry in respective ledgers, we will get closing balance of all the…

Q: Individual customer accounts are kept in a ledger O purchase ledger O sales ledger O general ledger…

A: Solution: Individual customer accounts are kept in a ledger called a "Subsidiary ledger".

Q: The process of posting is the transfer of debits and credits from the O a. T accounts to the…

A: The process of preparation of Final accounts is: Preparing Journal Entries against Transactions.…

Q: Compute the balance of the Home Office account

A: In order to calculate balance of home office account we will do assets-liabilities.

Q: . Master Supervisor E. Comptroller . Master Administrator What account type is considered a…

A: Correct option is (D) Master administrator. Master administrator is a person who is also known as…

Q: If the company has a multiple trasactions, what ledger should you post the trasaction?

A: Financial accounting involves recording of financial transactions of a firm during the accounting…

Q: Which function should distribute paychecks?a. personnelb. timekeepingc. paymasterd. payroll

A:

Q: What accounts are affected when a bill from a vendor supplying you products is recorded

A: when vendors supply products to the company the following accounts will be affected -   1) if we are…

Q: Ledger accounts are updated through a process called posting.  True  False

A: Posting is a process through which the journal entries are transferred to their respective ledger…

Q: 4. Indicate which department -accounts payable, cash disbursements, data processing, purchasing,…

A: Purchase requisition is prepared and sent to the prepare purchase order function to initiate the…

Q: The usual sequence of steps in the transaction recording process is: journal ledger → analyze.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Posting is a step in the accounting cycle that involves transferring information from the journal…

A: In book keeping first part is journal entries and second part is ledger entries  In short journal is…

Q: Describe how accounts are used to record information about the effects oftransactions?

A: Firstly the transaction are recorded in the original books i.e. Journal, when the transactions are…

Q: How would a business record a bill received in QuickBooks?

A:

Q: explain the use of cloud accounting to accounting department during lockdown due to covid-19?

A: Cloud accounting : Cloud-based systems aren’t just about working remotely & they can enable…

Q: Make the journal entry (debit and credits) for recording the payroll.

A: Payroll accounting is known as the recording of all the payroll transactions in the books of the…

Q: Preparing the Payroll Register

A: Chris German has worked more than 40 hours, so his hourly rate for 1 hour overtime is 1.5 times…

Q: A worksheet can be thought of as a(n) optional device used by accountants. permanent accounting…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: -ks of January (- dditional salarie sting entry for account field.) View transaction lis

A: Fact:  Employees earned in last three days of Jan ,salary…

Q: A subsidiary ledger contallillg O Accounts payable ledger. O Accounts receivable ledger. O Customer…

A: The subsidiary ledger includes accounts receivable ledger, accounts payable, sales ledger and…

Q: Define double entry book keeping system of accounting.

A: Double entry system: Under double entry system of accounting each transaction of business is…

Q: transactions into ledger.

A: Meaning of Ledger All the transactions which are recorded on journal are posted into the ledger…

Q: What is a sub-ledger

A: Sub - ledger means as follows