What are the types of special journals?

Q: What is a special journal?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Why the companies use special journals? List them.

A: In the bookkeeping system of accounting, the transactions are recorded in two types of books :…

Q: Prepare a journal entri

A: Journal entries recording is the initial step in accounting process, under which atleast one account…

Q: Define special journals and explain their usefulness.

A: General Journal   It is a chronological record of the transactions, showing an explanation of each…

Q: Wha is the general journal

A: General Journal is a financial book in which all the business transactions are recorded in…

Q: What is a memorandum entry? Why it is done?

A: A memorandum entry is different from the journal entries. The memorandum entry is not recorded by…

Q: What is the definition of a journal entry?

A: Journal entry is an act of maintaining a record of transactions whether economic or non economic.

Q: Journalize ize

A: Journal entries ,ledgers, trial balance and financial statement are prepared to provide the…

Q: Explain the recording process of special journals.

A: Companies use special journals to record repetitive transactions that affect the same set of…

Q: what is the journal entry for lessor

A: Lease refers to the contract under which a lessor allows a lessee to use the asset or property in…

Q: What are the relative merits of input from source documents and direct input?

A: Definition: Direct input: The data that are directly inserted into the system from the source data…

Q: What is difference between specific journal and general journal?

A: A specific journal is a type of journal in which primary transactions of a entry is recorded such as…

Q: Identify what special journal that is applicable for the following transactions:

A: Given: Payment received from Customer               ₱10,000 Purchase  made on Credit…

Q: [Based on Appendix C] What is the purpose of special journals? In what ways do they simplify the…

A: Special journal: The purpose special journal is to record the particular types of transactions which…

Q: Justapose the relevance of a general journal

A: Justapose the relevance of a general journal?

Q: Journalizing

A: Journal entries recording is the first step of accounting process, under which atleast one account…

Q: What is the purpose of special journals? In what ways do they simplify the recording process?

A: Special journal: The purpose special journal is to record the particular types of transactions which…

Q: Journal entry?

A: Answer:

Q: What is the journal entry of the following?

A: Answer: 1. Cash    Dr       P 5950       Office Supplies    Cr     P5950 2. Prepaid Insurance   Dr…

Q: What are the functions of the PCAOB?

A: Introduction PCAOB stands for Public Company Accounting Oversight Board. This is a private…

Q: What does disclosure mean?

A: Meaning of Disclosure - Disclosure is generally making the information and facts available to the…

Q: What are the major advantages of the use of special journals?

A: Special Journals are designed to facilitate the process of journalizing and posting transactions.…

Q: Journal entries?

A: Introduction: Journal entries: Recording of a business transactions in a chronological order. First…

Q: Name the two types of journals.

A:

Q: Which of the following is not a special-purpose journal? A. SJ В. GI C. CRJ D. CDJ

A: Special Purpose Journals:- Transactions that are of similar nature get summarized so that it can be…

Q: Describe the process of special journal.

A: Definition: Special journal: Special journal refers to the journal that is used to record a single…

Q: What is a Review engagement?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: Are both registers and special journals necessary?

A:

Q: Describe the different types of journal.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Which of these processes leads to the preparation of Journal?

A: Answer

Q: Record the above transactions in the classical journal

A: Hi student, Since there are multiple questions, we will answer only first question.

Q: I need the transactions that will be put in special journals

A: Special journals are specialized list of financials journals that are used to record the most…

Q: What is articles of association

A: Articles of Association is very important documentation for the company which shows all the rules…

Q: Journalize

A:

Q: What are support events?

A:

Q: Record the following transactions in the general journal.

A: RRR has started a merchandising business under the name of WEEN Trading. We are given transactions…

Q: he general journal

A: The profits of the firm at the end of the accounting year are transferred to the retained earnings.

Q: Define the term journal.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: benefit of having special journals versus just a general journ

A:

Q: Explain the distinguishing characteristics of (a) a generaljournal and (b) a special journal.

A: The journals are used by the companies to record the financial transactions of an organization on…

Q: COMPLETE THE JOURNALIZING

A:

Q: Create a General Journal.

A: When the transactions take place in an entity they are first recorded in the General Journal. From…