The characteristic that all entries recorded in a cash receipts journal have in common is Group of answer choices they originate from the sale of inventory. a credit to the Cash account. they all represent collections from customers. a debit to the Cash account.   2. Credit sales of assets other than inventory are often recorded in the Group of answer choices general journal. cash payments journal. sales journal. cash receipts journal   3. Which of the following documentation uses vertical segregation for each departments? Group of answer choices None of the above System Flowchart Data Flow Diagram Program Flowchart

Q: Using the five journals as named here: • Sales, Purchases, Cash Receipts, Cash Disbursements, and…

A: Purchase Journal Date Vendor  Account…

Q: The accounting system will not post a sales transaction to the sales journal withouta valid bill of…

A: Sales Journal: Sales journal is one form of special journal book, which records all the sales…

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: Explain two methods that an organization could use to monitor its balances of : Cash Accounts…

A: Current assets - These are those assets that the company owns and expects to convert into cash…

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: 1. Which of the following is not a difference between a retail business and a service business?…

A: Accounting Equation:  Assets = Liabilities This equation is same for every business.  it does not…

Q: Identify which department has stewardship over the following journals,ledgers,and files. a.customer…

A: The answer is as fallows

Q: A characteristic that all entries recorded in a cash receipts journal have in common is Select one:…

A: Correct option is C i.e.  a debit to the cash account

Q: All of the following functions are normally found within an organization's sales/collection except:…

A: An entity involved in sale of merchandise has to keep a track of multiple functions such as receipt…

Q: Record structures for receipt of cash on account Refer to figure 2-30 and the discussion about…

A:

Q: 1. SEGREGATION OF FUNCTIONS to the AR department, which adjusts the customer accounts to reflect the…

A: Segregation of duties means when the work or task is distributed among various departments and…

Q: Which of the following would not be an appropriate heading for a column in the cash receipts…

A: Cash receipt journal records the receipt of cash from sales to customers. Cash receipt journal…

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: 32.This is the type of special journal makes use of sales invoices issued by companies.    A.…

A: Accounting is essential to operating a company since it allows businesses to track income and…

Q: Which of following functions should be segregated?a. opening the mail and recording cash receipts in…

A: Internal control is an important part of every organization. It helps in maintaining the efficiency…

Q: An accounting information system comprises five generic parts. Which of the following gives an…

A: Internal control is defined as the procedure and process used by the company to- safeguard assets…

Q: Review the following transactions Requirements Prepare headings for a cash receipts journal.…

A: Cash receipt journal is the recording of the monetary transactions using a cash receipt journal…

Q: B. trial balance C. chart of accounts D. income statement   8. Sales to customers who use bank…

A: 7.(b) trial balance Trial balance is used to check that total debits equal total credits and shows…

Q: This is one of the books of accounts used to record casti sales andior collection of eceivitbles of…

A: Sales Journal -  - We record only credit sales of merchandise on credit, so cash sales is recorded…

Q: Credits to customer accounts and credits to Other Accounts are individually posted from a cash…

A:

Q: 31.This type of special journal makes use of official receipts issued by companies.    A. cash…

A: All the transactions of the company that are happened during the year will be recorded first in the…

Q: Sale of goods for cash would be recorded in the _______________ Select one: A. purchase journal B.…

A: Correct option is D i.e. cash receipts journal

Q: explain whether they are considered improper segregation of functions? a. The billig department…

A: Segregation of Duties (SOD) is a basic building block of sustainable risk management and internal…

Q: Which of the following expenditure cycle tasksshould not be separated?a. Purchasing inventory items…

A: Human intervention is required for certain tasks.

Q: Read and analyze each of the transactions and explain whether they are considered improper…

A: Since there are multi sub-parts, we will solve first three for you. To get the remaining questions…

Q: Accounting information systems have five generic parts. Outputs of the purchases and cash…

A: Accounting is the process of recording, classifying and summarising all financial information in…

Q: Each situation below describes an internal control weakness in the cash payments process.…

A:

Q: When the store manager receives a requisition note, he issues three copies of purchase order. Two…

A: Internal control: Internal control is a procedure used by a company's board of directors,…

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: 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: 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: Chen Company uses a two-column sales journal and a six-column cash receipts journal. For each of…

A: A journal entry is making and keeping of any transaction related to the business. It consist of date…

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: Wilcox Electronics uses a sales journal, a purchases journal, a cash receipts journal, a cash…

A: Sales journal records sales on credit. Cash receipt journal records all cash receipt transactions.…

Q: Villar Co. uses special journals and a general journal. Identify the journal in which each of the…

A: Purchases & Sales on account are recorded in Purchases Journal & Sales Journal respectively.…

Q: All of the following are documents used for inventory control except Oa. a receiving report. Ob. a…

A: There are various documents that works as evidence of a transaction.

Q: ich of the following account will be least likely involved in the purchasing sub-process of the…

A: Solution: Purchasing and disbursement cycle is the cycle in which purchasing needs of a business are…

Q: Which, if any,of the followingsituations represent improper segregationof functions? Explain your…

A: Segregation of functions is the method in which more than one individual is responsible to complete…