Which one of the following columns in a cash receipts journal is not posted in total to an account in the general ledger?     Other Accounts column   Sales Discounts column   Cash column   Accounts Receivable column

Q: Which is false concerning use of special journals? Select one: a. Purchase of any items on account…

A: Cash disbursement journal contains the record of all payments made for incurring any cash…

Q: Which of the following accounts is not normally part of the revenue and collection cycle?a. Sales.b.…

A: Revenue and collection cycle is business process related to the products delivery and collection of…

Q: Debit postings to the individual accounts in an accounts receivable subsidiary ledgergenerally come…

A: solution concept Account receivable                 Account receivable is the balance of the…

Q: Which one of the following statements related to the control of cash disbursement is true? Payment…

A: Internal control procedures are those controls framed and implemented by a business to safeguard its…

Q: Describe the internal control weakness in Two Symbols’ cash disbursements system and discuss the…

A: Internal Control: Internal control is an internal and independent assurance of objectives of an…

Q: The following is the description of cash disbursements system of Two Symbols Limited: Upon receipt…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: The following is the description of cash disbursements system of Two Symbols Limited: Upon receipt…

A: Internal control is an internal and independent assurance of objectives of an organization in…

Q: Describe and use the cash receipts journal. List theree items of information about each cash receipt…

A: Cash Receipts Journal:   It is a special book where only cash receipts transactions that are…

Q: Indicate the missing posting reference and amount in the control account, and the missing ending…

A: Journal entry is the entry which is recorded in the journal book. Every monetary business…

Q: Every transaction recorded in the cash payments journal includes  Credit to Cash. Debit to Accounts…

A:

Q: The actual cash received from cash sales was $83,452, and the amount indicated by the cash register…

A: Given, Actual cash received from cash sales = $83,452 Amount indicated by the cash register =…

Q: The purpose of recording an allowance for uncollectible accounts is to:   Multiple Choice   Report…

A: Allowance for doubtful accounts means where we expect some debts to become bad in near future then…

Q: describe the internal control weekness in Two symbols cash disbursement system and discuss the risk…

A: Internal Control Weakness:   It refers to failure in the implementation or effectiveness of internal…

Q: State the reasons of the following statement:  The balance in the cash column of the cash book is…

A: a.   Cash column of cash book will always show debit balance because cash payment can never exceed…

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: The following is the description of cash disbursements system of Two symbols limites: Upon receipt…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Describe the internal control weakness in Two Symbols’ cash disbursements system and discuss the…

A: Internal control:   Internal Control Weakness refers to failure in the implementation or…

Q: The actual cash receivec from cash sales was 914 amount indicated by the cash register total was $…

A: A journal entry is a record of a business' financial transactions that is preserved in its…

Q: ash rece

A: cash receipts journal ought to have a history of your money transactions. exploitation your sales…

Q: Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry,…

A: Step 1 Journal is the part of the book keeping.

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: 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: 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: The cash payments journal only has one column because all entries recorded in this journal require a…

A: Cash: Cash is the money which is readily available in the form of currency. Since cash can be easily…

Q: The following is the description of cash disbursements system of Two Symbols Limited:Upon receipt of…

A: Internal control: Internal control is an internal and independent assurance of objectives of an…

Q: Explain the statement: “Receipt and Payment Account is a summarisedversion of Cash Book”.

A: Receipts and payment account is a real account. It records all the cash and bank transactions made…

Q: what is procedure to posting account payab

A: Answer : The cash disbursement Journal is an  Accounting Form used to record all the cash outflow.…

Q: The following cash receipts journal headings have been suggested for a small service firm. List the…

A: Cash receipts journal: Cash receipts journal refers to the journal that is used to record the all…

Q: Name the four basic components of an AIS.

A: Accounting Information System (AIS) seems to be a mix of technologies and accounting principles…

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

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

Q: When recording credit card or debit card sales using the net method, a. cash received equals sales.…

A: When a client or customer pays the payment with credit card or debit card usually a card processing…

Q: Describe and use the cash receips journal. What steps are followed in posting from the cash receipts…

A: Cash Receipts Journal:   It is a special book where only cash receipts transactions that are…

Q: The receipt of cash arising from sales transaction would be recorded in the cash payments journal…

A: The special journal include cash receipts Journal, cash payments journal, sales Journal and…

Q: Entry for Cash Sales; Cash Over The actual cash received from cash sales was $71,315, and the…

A: Journal entry: It is a set of economic events that can be measured in monetary terms. These are…

Q: When are the only times the Petty Cash account is used in a journal entry?

A: The only times when the petty cash account is used in a journal entry is as follows:During…

Q: The following is the description of cash disbursements system of Two Symbols Limited:Upon receipt of…

A: Internal control: Internal control is an internal and independent assurance of objectives of an…

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: All cash payments are recorded in:   Sales Journal Cash Payments Journal Cash Receipts Journal…

A: Journal: Recording of a business transactions in a chronological order.

Q: The sales journal is used to record______.      cash      sales on account      debit…

A: Sales journal is used to record all the account sales entries but it does not includes cash sales…

Q: Why should sales to and receipts of cash from credit customers be recorded and posted immediately?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Provide some examples of transactions that would be recorded in the Other Accounts CR column of the…

A: Cash receipts journal: A cash receipts journal is a special kind of journal book that only records…

Q: Cash Beginning Balance Cash Sales Disbursements Collections -Other Receipts Ending Balance

A: Cash is the asset for the company. The normal balance is the debit balance of cash account. It shows…

Q: While examining cash receipts information, the accounting department determined the following…

A: Cash in hand balance should be = Opening Balance + Cash Sales during the period = 177 + 1166.57 =…

Q: Based on the bank reconciliation THAT IS ATTACHED, journalize the entry or entries to be made by…

A: Bank reco is a statement showing difference between bank balance…

Q: Describe the internal control weakness in Two Symbols’ cash disbursements system and discuss the…

A:

Q: What's the entry for the cash receipt journal?

A: Journal entry is the entry which the business records normally on the journal but as there are…

Q: The following information pertain= Credit sales Accounts payable Accounts receivable Allowance for…

A: The amount that will not be collected is referred to as bad debt.  The factors that contribute to…

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.