Make a general ledger for each account title from the general journal below.
Q: It is known as the Book of Original Entries General Ledger O Journal Diary O Subsidiary Ledger
A: Introduction:- Book of original means as follows:- A book of original entry refers to an…
Q: Question Required 1- Recording the flowing-mentioned operations in the journal and transferring them…
A: A journal entry is made to record the financial transaction in the books of accounts. T-account: The…
Q: The entire group of accounts for a company is referred to as the: a. general ledger b. worksheet…
A: The transactions in the financial accounting are primarily reported to Journal and are then posted…
Q: The general ledger or subsidiary ledger should be indicated for each account
A: This question deals with the general ledger or subsidiary ledger should be indicated for each…
Q: Post to the ledger accounts.
A: The process of recording business transactions in the books of accounts for the first time is…
Q: Following is the General Journal for Hammad and Co. You are required to prepare the General Ledger…
A: The ledger contains the summary of financial transactions of the business entity and it is used to…
Q: The Ledger related to expenses is entered in which one of the ledger? Sales Ledger Purchase return…
A: Expenses are not recorded in a specific ledger.
Q: How to post adjusting entries onto the general ledger
A: Adjusting entries are recorded at the end of the year to show correct amount of revenue and expenses…
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: The ledger that contains the financial statement accounts of a company is the Choose General journal…
A: In terms of accountancy, a ledger can be defined as an accounting book that contains all…
Q: write a note on/define general journal, Ledger and trial balance. with explanation?
A: General journal, Ledger and trial balance all are the part of accounting system. Accounting is a…
Q: The summarizes all of the journal entries which forms the basis for the financial statements.…
A: Ledgers are considered a statement that summarizes all the journal entries in a good form that helps…
Q: Give its general ledger and financial statements
A: General Ledger
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: List the chart of account numbers and major categories used in DPSystems’accounting system.
A: The chart of the account numbers and major categories used in DP accounting system are given below…
Q: General Ledger
A: General Ledger -: In Accounting, a general ledger, moreover realized as a nominal ledger, is a…
Q: After journalizing, the journal entries are transferred to a four-column record where the balances…
A: Ledger or General Ledger: Every account in an organization's chart of accounts gets its own ledger…
Q: Which of the following accounting records is the main source of information used to prepare…
A: Financial statements seem to be a set of high-level reports that summarize a company's monetary…
Q: Describe and use the purchase journal. What steps are followed in posting from the purchases journal…
A: Purchase Journal: Purchase journal records all the merchandise purchase on credit. In a single…
Q: Refer to the locations identified general ledger accounts.
A: General Ledger is a Second Step of Bookkeeping. It comes after completion of Recording of…
Q: What are the journal entry, t-account, and trial balance of the following;
A: Journal entries are the entries to record the transactions in the books and every transaction have…
Q: Journalize the following transactions in the accounts of BBH inc.,
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: When recording the chart of accounts, the field you use to classify financial statement accounts is…
A: Financial statements: Financial statements are condensed summary of transactions communicated in the…
Q: If a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal are…
A: There are various ledgers in a book which help in recording transactions of various nature, such…
Q: You are to enter up the sales, purchases and the returns inwards and returns outwards jou mals/day…
A: Journal entries are passed to record each and every transaction or event in a chronological manner.…
Q: The individual amounts in the “Accounts Payable" column of the purchases journal are posted to the…
A: Answer: Option C Accounts Payable Subsidiary ledger is Correct.
Q: Draw the diamond rule structure that help in recording journal entries in debit and credit columns…
A: Diamond rule structure that will help in recording entries in debit and credit sides of general…
Q: Identify the appropriate journal to be used in each item below. Choose from the books of accounts…
A: A Special journal is used to record a specific type of transaction which occurs frequently in a…
Q: A typical ledger format includes columns for?
A: Ledger: It is a record used to record bookkeeping entries for balance sheet and income statement.
Q: How to identify the debit and credit amount for the general ledger
A: In order to balance the journal ledger both the debit and credit accounts to be balanced that is…
Q: what steps are followed in posting from the purchases journal to the accounts payable ledger?
A: Purchase journal indicates the account corresponding to the orders or purchase initiated or made on…
Q: CREATE YOUR OWN FORM OF “CHART OF ACCOUNTS”
A: NATURE OF BUSINESS - GARMENTS MANUFACTURING CHART OF ACCOUNTS ACCOUNT NO. ACCOUNT TITLE 1…
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 grouping of the entry's accounts is referred to as a ledger.
A: The accounting is process to record the transactions, post the transactions, prepare the trial…
Q: Prepare the SFP in Account Form
A: SFP is statement of financial position, which is one of the financial statement that is being made…
Q: For each account, indicate whether it appears in the general ledger or the subsidiary ledger.
A: General Ledger: It is a process of summarizing all the financial transactions of an account for a…
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: which of the following actions update/ record is: a master file, transactions file, special journal,…
A: Transaction- A business transaction, also known as a financial transaction, is one that can be…
Q: Explain the five steps in journalizing and posting transactions.
A: Identify the accounts and the account type. You need this information before you can complete the…
Q: Give its general ledgers and financial statements
A: Cash A/c 1-Dec To, Cuneta Capital 20500…
Q: Post to general ledger
A: General ledger is the ledger book in which all the respective accounts of parties as well as the…
Q: For each account, indicate whether it appears in the general ledger or the subsidiary ledger…
A: The general ledger records all the financial accounts of a company. The general ledger includes…
Q: Post this journal to ledgers then trial balance. Please use column format for ledgers, not T account…
A: A ledger is a log or list of accounts that keeps track of account transfers. A trial balance's main…
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- (Learning Objectives 4, 5: Account for accounts receivable and uncollectibleaccounts) Perform the following accounting for the receivables of Hawkins and Harris, a CPAfirm, at December 31, 2018.Requirements1. Set up T-accounts and start with the beginning balances for these T-accounts:■ Accounts Receivable, $104,000■ Allowance for Uncollectible Accounts, $12,000Post the following 2018 transactions to the T-accounts:a. Service revenue of $695,000, all on accountb. Collections on account, $720,000c. Write-offs of uncollectible accounts, $8,000d. Uncollectible-account expense (allowance method), $15,0002. What are the ending balances of Accounts Receivable and Allowance for UncollectibleAccounts?3. Show how Hawkins and Harris will report accounts receivable on its balance sheet atDecember 31, 2018.(Learning Objectives 4, 5: Account for accounts receivable and uncollectibleaccounts) Perform the following accounting for the receivables of Andrews and Johnson, a lawfirm, at December 31, 2018.Requirements1. Set up T-accounts and start with the beginning balances for these T-accounts:■ Accounts Receivable, $100,000■ Allowance for Uncollectible Accounts, $14,000Post the following 2018 transactions to the T-accounts:a. Service revenue of $697,000, all on accountb. Collections on account, $714,000c. Write-offs of uncollectible accounts, $8,000d. Uncollectible-account expense (allowance method), $11,0002. What are the ending balances of Accounts Receivable and Allowance for UncollectibleAccounts?3. Show how Andrews and Johnson will report accounts receivable on its balance sheet atDecember 31, 2018.Parts wriiten Subparts to be solve are the ones to be solved Question Requirement 1For each of the following transactions make the required entries in the General Journal:(See the General Ledger tab in the workbook Chapter 03 b - Problem 3-1 Forms for the accounts in OPJ’s accounting system.)Feb 01 Take $4,000 cash out of Big Bank to pay for February’s warehouse rent.Feb 04 Sale of inventory to a customer – selling price $62,000 – cost of inventory sold $16,000 – customer paid cash which was deposited in Big Bank.Feb 07 Take $10,000 cash out of Little Bank to pay employees for wages they have earned.Feb 15 Sale of inventory to a customer – selling price $88,000 – cost of inventory sold $22,000 – customer will pay in the future.Feb 18 Sale of inventory to a customer – selling price $110,000 – cost of inventory sold $28,000 – customer pays $40,000 cash which is deposited in Little Bank – customer will pay for the remaining amount of the sale in 30 days.Feb 22 Purchase additional…
- Marked out of 20.00P Flag questionusing the income summary account for the month ofSiren MarketingAdjusted Trial BalanceMay 31, 2022Account TitleCashDebitCredit$8, 600Accounts Receivable$2, 500Prepaid Insurance$2,700 Accounts PayableUnearned RevenueKirk, Capital$1, 200$1, 800$5, 880Kirk, Withdrawals$1,600Service Revenue$8, 620Advertising Expenselnsurance ExpenseRent Expense Total$790$450$860$17,500 $17,500No comma or dollar sign should be included in the imput icklPrepare the closing entries in the proper order. For transactions that have more than 1 debit or more than 1 deditDebitAccount Title and Explanation Date May 31question General ledger Debit Credit Balance 01.11.20 50,000 31.12.20 Rental Revenue 6000 56,000 31.12.20 Rental Revenue 1800 57,800 01.01.21 Rental Revenue 6,000 51,800 Kindly show me the T Accounts for the above general ledger.Question 4. This question can be copied directly into your Word document. Your typing will be minimal. Part a. Complete the form below to age the accounts receivable. Provide the necessary end-of-year journal entry. You need to fill in the “Totals” row, the “Dollar amount” row, and prepare the journal entry. Aging of accounts receivable (also called the balance sheet method) Age 1-30 days 31-60 days 61-90 days Over 90 days Totals Smith 60,000 Jones 20,000 10,000 White 10,000 Brown 40,000 Green 30,000 LeBlanc 50,000 Pelletier 10,000 Totals 230,000 Estimated uncollectible 1% 2% 10% 50% Dollar amount The Allowance for doubtful accounts currently has a credit balance of $800. Journal entry to adjust for bad debts: Dec. 31…
- 2. Journalize the transactions for April in a two-column journal beginning on Page 18. Refer to the Chart of Accounts for exact wording of account titles. Insert the appropriate posting references in both the journal and the ledger as each item is posted. PAGE 18PAGE 19 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16…Test: Second Exam F17 This Question: 1 pt The entry to write off an account receivable under the allowance method will T A. increase total assets O B. increase net income C. reduce net income D. have no effect on net income Click to select your answer Search the web and Windowsanswer the ff. journal entry with account title and explanation in a 2 columnar Ex. DATE ACCOUNT TITLE AND EXPLANATION DEBIT CREDIT JAN 1 Cash Accounts Payable To record the payment.... 1 1
- Pg 37 T- Accounts Please find the missing amount on the follwoing T-Account. and explain CLEARLY and indepth (showing formula or method) on how you found the amount. Accounts Payable DRs 6/4 Transaction A 1500 6/8 Transaction C 2000 CRs Beginning Balance 3000 6/6 Transaction B UNKOWN 6/29 Transaction D 3,400 Ending Balance 6,700QUESTION 12 Post the following General Journal entries into the General Ledger: Hint: you may not need to fill in every box GENERAL JOURNAL Page 1 Date Description Post Debit Credit 1/1 Insurance Expense 20,000 Cash 20,000 1/5 Supplies Expense 5,000 Cash 5,000 1/7 Cash 6,000 Accounts Receivable 6,000 GENERAL LEDGER ACCOUNT NAME: _CASH_____________________ ACCOUNT NUMBER: 11 DATE ITEM P. REF DEBIT CREDIT DR BALANCE CR BALANCE ACCOUNT NAME: _Accounts Receivable_______ _ ACCOUNT NUMBER: 12 DATE ITEM P. REF DEBIT CREDIT…Date Account Title Debit Credit May 5 Accounts Receivable 4,540 Service Revenue 4,540 12 Cash 1,230 Accounts Receivable 1,230 15 Cash 2,570 Service Revenue 2,570