If a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal are used, indicate the journal in which each of the following transactions should be recorded.
Q: Using the five journals as named here: • Sales, Purchases, Cash Receipts, Cash Disbursements, and…
A: Purchase Journal Date Vendor Account…
Q: sources of input data may include all of the following business documents except : a- sales invoice…
A: Sources of input data is the the invoice or any other form of data from which data of a transaction…
Q: record the following transactions in their corresponding journals it could be in: -sales journal…
A: An accounting cycle refers to the different stages in the preparation of the final accounts. Final…
Q: Which of the following transaction will be correct in regards to Source document of a Business? O a.…
A: Source documents are sort of documents that are part of accounting and are created when any monetary…
Q: The book of original entry that will accommodate entries which cannot be appropriately recorded in…
A: Option D is correct.
Q: Which of the following is not a special journal? a. Sales journal b. General journal c. Cash…
A: Special journals: Special journal are journals which records transactions that occur frequently such…
Q: Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal,…
A: Special Journals are used by the accountants to record the journal entries into the specific…
Q: When is the general journal used in a manual accounting information system? Provide some examples of…
A: Accounting information system collects, records, stores and processes accounting data to produce…
Q: Match the following types of journal transactions with the journal in which they would be entered.…
A: Journal: Recording of a business transactions in a chronological order.
Q: Prepare journal entries for the above transactions. If an amount box does not require an entry,…
A: Pass necessary journal entry to record replenishment of cash fund.
Q: Which of the following is true about the revenue journal? Please explain with full explanation a.…
A: Revenue means the income which is generated from the business operations in terms of selling goods…
Q: For each of the transactions, state which special journal (sales journal, cash receipts journal,…
A: For each of the transactions, state which special journal (sales journal, cash receipts journal,…
Q: A worksheet can be thought of as a(n) permanent accounting record. O part of the general ledger. O…
A: Worksheet means the sheet which is prepared to make few year end adjustment and find out the balance…
Q: The adjusting entry to take up accrued expenses is recorded in the: (A purchases journal B general…
A: Adjusting entries are those journal entries which are passed at the end of accounting period in…
Q: The double-entry system requires that each transaction must be recorded Select one: a in at least…
A: Double Entry System: The double entry system of accounting emphasizes on recording the dual aspect…
Q: If a journal entry includes a debit or credit to the Cash account, it is most likely which of the…
A: Answer: If a journal entry includes a debit or credit to the Cash account, it is most likely an…
Q: Post the Journal Entries to the General Ledger and Subsidiary Ledgers. Amounts to the Accounts…
A: A general ledger is an account in which the total of all accounts are posted and the total of this…
Q: Instructions: Identify each item by letter and list the items in columnar form, using the headings…
A: Its Very Important to differentiate the amount of each expenses incurred for the creation of asset…
Q: When using a manual accounting information system, which of the following transactions would be…
A: Journal : A journal is a book of original entry where all the monetary transactions in the form of…
Q: A journal designated for entering only sales on account is called cash receipts journal cash…
A: A journal designated for entering cash receipt is called cash receipts journal A journal designated…
Q: Identify the journal in which each of the following transactions is recorded. Transactions Journals…
A: Every journal entry we record in journals. There are types of journals like - Cash payments journal…
Q: Describe and use the sales journal. What steps are followed in posting from the sales journal to the…
A: Sales Journal: A journal is a book of original entry where all journal entries are recorded on the…
Q: When using a manual accounting information system, which of the following transactions would be…
A:
Q: Credits to customer accounts and credits to Other Accounts are individually posted from a cash…
A:
Q: Prepare a journal entry for each transaction. If an amount box does not require an entry, leave it…
A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…
Q: Assuming the use of a two-column general journal, a purchases journal, and a cash payments journal…
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: Which of the following journals is called an all-purpose journal? Please explain with full…
A: There are two journals. One is general journal and another is special journal.
Q: Which of the following items is known as the base for preparing the trial balance; Cash Account…
A: Trial balance includes both temporary accounts and permanent accounts. All expenses, losses, and…
Q: When posting the column totals of a cash payments journal, a debit should be posted to a.Unearned…
A: answer c Account Payable is right answer.
Q: For each transaction, indicate whether it would normally be recorded in a cash receipts journal,…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: The process of transferring the debits and credits from the journal entries to the accounts is…
A: Accounting cycle: Accounting cycle is a step by step process of analysing, classifying, and…
Q: A cash sale is recorded in the: A sales journal B purchase journal c) cash receipts journal D cash…
A: Cash book is maintained by the firms to record all the cash transactions. These may be cash sales,…
Q: sources of input data may include all of the following business documents except : a- sales invoice…
A: Source document refers to the document of original record, that is recorded when it is collected for…
Q: dentify the journal in which each of the following transactions is recorded. Transactions…
A: Sales journal: Sales journal records only transactions related to credit sales. Cash receipts…
Q: Match the terms with the definitions. A journal designed for recording only certain kinds of…
A: In accounting specific journals are used for specific purposes to make the accounting process…
Q: Directions: Fill in the blanks with the correct accounting term/s. Choose the answern from the box…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Please classify the following transactions into the 7 journals in accounting. General Journal…
A: 1. General Journal: General journal records all transactions which don't find place in other…
Q: List the four special journals often used in a manual accounting information system. What types of…
A: Special Journal: A special journal is an accounting journal used by an enterprise to record a…
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: Cash payments journal Sale on account General journal Collection on account Purchases journal…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: s: Prepare the journal entry for each transaction. Use the following account numbers for posting…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
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: In the accounting book-keeping process, what is the difference between the general journal and the…
A: General Journal The purpose of preparing the general journal entry which is the transaction which…
Q: Which of the following transaction will be correct in regards to Source document of a Business? a.…
A: The source documents the main place where transactions are recorded.
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- 1. The --------------data model was developed specifically for use in designing accounting information systems. Select one: O a. LGR O b. MPA O c. KPR O d. REA 2. One business activity data have been entered in to the system, they must be ------------- to keep the database current Select one: O a. Data report O b. Data input O c. Data processed O d. None of the other pointsThe following information pertains to Crossroads Consulting, Inc. Match each of the following parts of Crossroads accounting information system in the left-hand column with the appropriate item(s) from the right-hand column. You may use items in the right-hand column more than once or not at all. There may be several answers for each item in the left-hand column. You may choose items in the right-hand column more than once.CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Financial Health ratios, what has happened to HPs liquidity position over the past 10 years?
- CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Profitability ratios, what has happened to HPs profit margin (net margin %) over the past 10 years? What has happened to its return on assets (ROA) and return on equity (ROE) over the past 10 years?CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Financial Health ratios, what has happened to HPs financial leverage position (looking at both its financial leverage and debt/equity ratios) over the past 10 years?CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Efficiency ratios, how well has it managed its assets (as measured by days sales outstanding, inventory turnover, fixed assets turnover, and total assets turnover) over the past 10 years?
- ANNOUNCING A NEW INFORMATION SYSTEM The AJAX Company is considering implementing a new accounting system, which will automate sales processing, cash receipts, accounts payable, and cash disbursement procedures. Roger Moore, AJAXs CIO sent an announcement letter to the AJAX community. In the letter, Moore said: I have contracted with Spartan Consulting Group to do the needs analysis, system selection, and design work. The programming and implementation will be performed in-house using existing IT department staff. The development process will be unobtrusive to user departments because Spartan knows what needs to be done. They will work independently, in the background, and will not disrupt departmental and internal audit work How with time-consuming interviews, surveys, and questionnaires. This promises to be an efficient process that will produce a system that will be appreciated by all users. Required Draft a memo from George Jones, Director of Internal Audits, in response to Moores letter.A software package where an entry for a purchase on account updates both the general ledger and the vendors ledger is an example of: Question 45 options: an accounting database program an integrated accounting software package such as Sage 50 or QuickBooks a one-step accounting package an excel add-on program.Ma1. Question 11. Which of the following is not a catetory found in the Content Pane of Dynamics GP? Options: A.Cards B.Inquiry C.Print D.Reports Question 12. The typical size of a business that is most likely to use MS Dynamics GP is options: A.Fewer than 50 employees B.250-500 employees C.2500 - 5000 employees D.More than 5000 employees Question 13. Which of the following features allows you to view information about a customer and then begin entering an invoice for that customer? options: A.Lists B.Reports C.Inquiry D.SmartLists Question 14. Which of the following statements is not true regarding the Navigation Pane? options: A.You can choose not to show specific series/functions on the Navigation Pane B.You can change the order in which series/function areas appear on the Navigation Pane C.If you hide a series/function so it doesn’t appear on the Navigation Pane, it is removed from your Dynamics GP system D.It can be hidden in order to make the Content area larger…
- 16) When creating a new QuickBooks data file for an existing company, QuickBooks automatically offsets accounts receivable balances with an entry to the:A) Uncategorized Expenses accountB) Uncategorized Income accountC) Opening Balance Equity accountD) Capital Stock account Group of answer choices A B C DMost computerized accounting systems use electronic forms to record transaction information, such as the invoice form illustrated at the top of Exhibit 7 in this chapter.a. Identify the key input fields (spaces) in an electronic invoice form.b. What accounts are posted from an electronic invoice form?c. Why aren’t special journal totals posted to control accounts at the end of the month in an electronic accounting system?TB MC Qu. 02-148 (Static) Which of the following... Which of the following is not a step in the process to go from transactions and events to the financial statements? Multiple Choice Analyze each transaction and event using the accounting equation. Identify each transaction and event from source documents. Record relevant transactions and events in a journal. Post journal information to ledger accounts. Ensure the cash account balance is reduced to $0 at the end of each period. 21 of 26 Next.