Drawing from your basic accounting knowledge, list the relevant data attributes that constitute the record types below. Identify which attribute is the primary key for the record. Accounts Payable record Inventory record Customer Sales Orders record Purchase Orders to vendors Cash Receipts (checks) from customers Employee Payroll Earnings records

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A: Revenue and collection cycle: The revenue cycle records all the transactions that originate from…

Q: The sales journal is used to record a. Credit sales. d. Cash purchases. b. Cash sales. e. Credit…

A: Sales journal is one of the kind of special journal. Special journals are used, when a company has…

Q: Normally revenue is recognized when:

A: Answer

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Q: GENERAL LEDGER/REPORTING SYSTEM. Please explain how each cycles in the business process/transaction…

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Q: Which of the following transaction will be correct in regards to Source document of a Business? O a.…

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Q: A. What document is used to create the Sales Order in the Revenue Cycle and where does itcome from?…

A: Answer a: Sales order is created by using a document formed by SAP.

Q: Most of the accounting cycles have journal entries that accompany activities of each cycle.Which of…

A: Recording transaction in journal is termed as journalizing the entries. Transaction are first…

Q: For each of the accounts balances and associated assertions below, select the audit procedure from…

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Q: Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal,…

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

Q: indicators that a company is doing an effective job at managing accounts receivable

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Q: Sales ledger control Account is known to have a debit balance. Explain, using numerical example why…

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Q: What can be understood by Staff Accounting Bulletins?

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Q: Demonstrate, using practical example how to prepare accounts from the Sales day book and Sales…

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Q: A company records its various business transactions in the book of original entries using various…

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Q: hich of the following is managed by an accounting department's dministrator? O A. bills and expense…

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Q: Analytical procedures involve: Watching physical inventory counts and distribution of wages. Getting…

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Q: Why should purchases to credit customers and cash receipts from credit customers be quickly…

A: sales can be either cash sales or credit sales. Credit sales will have accounts receivables or…

Q: You are a trainee in audit firm and you have been assigned to verify the follow balances for IJK…

A: The question is based on the concept of verification of Assets and Liabilities by an auditor. As per…

Q: Describe and use the sales journal. What steps are followed in posting from the sales journal to the…

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A: Auditing: It is systematic process of examining books of accounts and relevant financial information…

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A: The question is related to Match the following. Required  Match the best answer to each question

Q: procedure will complete the purchase procedure in a company?

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Q: Where do you find inventory, sales, and cost of sales accounts on the financial statements?

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A: >Analyzing and recording the transaction is the first stem in the Accounting…

Q: You are working for a company and process a credit memo. This indicates that: merchandise was…

A: A credit memo is issued by a seller to the buyer indicating that amount due from the buyer has been…

Q: ledger

A: A   COGS A/c    Dr        To Purchase A/c     B    A general ledger is an accounting record book in…

Q: V

A: trainee in an audit firm and you have been assigned to   Sales

Q: All records in a file must be uniquely identifiable in at least one attribute, which is its primary…

A: The primary key is unique and cannot be the same in a table. It is a basis through which every…

Q: accounting records used in transaction processing systems?

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

Q: The controlling account in the general ledger that summarizes the debits and credits to the…

A: The control account is the summary balance of the subsidiary ledger's account. A subsidiary ledger…

Q: What are the limitations of a manual accounting information system in business? How simple is the…

A: Limitations of manual accounting information system Manual accounting system is the system where…

Q: What steps are followed in posting from the cash receipts journal to the general ledger?

A: (1) Cash receipts journal can also be called as the accounting journal that is considered as the…

Q: An accounting clerk would take first which of the following steps? A. Post individual amounts to the…

A: Option B is correct.

Q: What steps are followed in posting from the sales journal to the accounts receivable ledger?

A: Sales Journal A journal is a book of original entry where all journal entries are recorded on the…

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A: Transaction- A business transaction, also known as a financial transaction, is one that can be…

Q: Which of the following documents associated with the purchases and cash disbursements cycle is most…

A: Answer:-  Journal entry meaning:- A journal entry is the act of recording or keeping track of any…