How do you know which account debits and credits go in?  How do you log into the general journal? General ledger? How do you do the income statements and balance sheets?

Q: What is the impacts on the accounting equation when an accounts receivable is collected

A: Accounting equations are based on a double-entry accounting system which states that each and every…

Q: Explain how the accounting equation organizes financial information using T-accounts and debits and…

A: Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Describe how debits and credits are used to analyse transactions.

A: Debits and credits are used to analyse transactions for changes in accounts made by one business…

Q: How does a balance sheet get completed? What accounts show on the balance sheet? Is there a…

A: Balance Sheet: A balance sheet is a statement of financial position of the business at a particular…

Q: A worksheet is a journal used to record transactions. is a financial statement that reports net…

A: Worksheet: A worksheet is a tool that is used while preparing a financial statement. It is a type of…

Q: Prepare the Statement of Financial Position in an account form

A: Statement of financial position shows all assets and all liabilities of the business along with…

Q: How does information from the balance sheet help users of the financial statements?

A: The balance sheet provides an overview of assets, liabilities, and stockholders' equity as a…

Q: what is accounts payable?

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: what is real account ?

A: There are three types of accounts that are used in accounting: 1. Personal 2. Real 3. Nominal Real…

Q: How would a business record a sale of services on account in QuickBooks?

A:

Q: We report accounts receivable in the balance sheet at the amount expected to be collected. Explain…

A: Account receivable: The amount of money to be received by a company for the sale of goods and…

Q: What are the information about the balance sheet and income statement account groups and their…

A: In Day to day business, Company requires various accounting information's to carry its business. Due…

Q: What is the impact on the accounting equation when an accounts receivable is collected

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…

Q: what is the entry for purchase of supplies on account? * O debit supplies, credit cash O debit…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Using the following transactions what is the total debits and credits?

A: Journal entries refer to recording and classyfing business transactions into books of accounts…

Q: What are the account receivables?

A: Current assets: The assets which could be converted into cash within one year like accounts…

Q: chart of accounts

A: Chart of Accounts -: A Chart of Accounts also known as COA is an index of all the financial accounts…

Q: What is an account and how is it related to the ledger?

A: Accounting is the process of identifying, recording, classifying and summarising accounting…

Q: Illustratrate about the real and nominal accounts along with examples.

A: Real account:Real account involves the amount of asset, liability, or stockholder’s equity at a…

Q: How do we get the accounting records ready to prepare financial statements?

A: Explanation - There are three statements of the organization which show different accounting…

Q: steps in posting from asales journal to an accounts receivable ledger

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

Q: How did you get Accounts Receivable and Sales?

A: Account receivable is the amount which is to be received from the customers or the customers who…

Q: Recording Transactions in a Financial Transaction Worksheet

A: Step 1 Hello. Since your question has multiple parts, we will solve first question for you. If you…

Q: How are credit balances in accounts receivable reported on the financial statements?

A: Sales is the revenue being earned by the business on delivery of goods and services by the business.…

Q: What are the current account, financial account and balance sheet accounts? How are they useful in…

A: Balance of payments is to record all the monetary transactions which occurred in the country by the…

Q: What are the current account, financial account, and balance sheet accounts? How are they useful in…

A: Financial accounting seems to be a subset of accountancy that involves a technique of recording,…

Q: Define accounting? Also elaborate the rules for debit and credit in detail.

A: Accounting - It is the recording of financial events along with other functions of storing, sorting,…

Q: If the owner of the business wants to see both the debit and credit entry for a specific…

A: Accounting refers to system which summarize as well as reports the financial and the business…

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: hey appe

A: The debit balance is the amount of cash the customer something that is essential to have  in the…

Q: How to write notes on the account equation

A: Accounting Equation of the business says that at any particular point of time, total assets should…

Q: Debit telephone bill, credit ACcounts payable is

A: Correct Answer :- C Business Received telephone bill and it will be paid later.

Q: When you collected Accounts Receivables, your entry would include?

A: Accounts Receivable is shown as an asset in the books of accounts and has a debit balance. When the…

Q: What is debit and credit account

A: Introduction: An account is a summary of the record of all business transactions. Account has two…

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

A:

Q: What is the basic information to recognize an account receivable?

A: Account receivable is a customer who has purchased the goods or has availed the services of a…

Q: A credit balance on accruals account indicates?

A:

Q: How does receiving a payment from a customer on account affect the accounting equation?

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of the…

Q: how do debits and credits work?

A: Debit and Credits: Debit and Credits are used as a basis of bookkeeping to book balance in the books…

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…

Q: How do i close  expense accounts while getting ready to prepare financial statements?

A: Closing entries: Closing entries are recorded in order to close the temporary accounts such as…