The process of recording transaction: There is a step by step process of recording transactions of a business. Each transaction is first journalized in chronological order and then posted to ledgers. The ledger balances are then utilized to prepare trial balance and balance sheet. To Determine: The transactions should be directly recorded in the ledger account or not.

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Answer 1

Question

Chapter 2, Problem 14Q

(a)

To determine

The process of recording transaction: There is a step by step process of recording transactions of a business. Each transaction is first journalized in chronological order and then posted to ledgers. The ledger balances are then utilized to prepare trial balance and balance sheet.

To Determine: The transactions should be directly recorded in the ledger account or not.

(b).

To determine

The advantages of journalizing and then posting in ledgers.

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Answer 2

Question

Chapter 2, Problem 14Q

(a)

To determine

The process of recording transaction: There is a step by step process of recording transactions of a business. Each transaction is first journalized in chronological order and then posted to ledgers. The ledger balances are then utilized to prepare trial balance and balance sheet.

To Determine: The transactions should be directly recorded in the ledger account or not.

(b).

To determine

The advantages of journalizing and then posting in ledgers.

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Answer 3

Question

Chapter 2, Problem 14Q

(a)

To determine

The process of recording transaction: There is a step by step process of recording transactions of a business. Each transaction is first journalized in chronological order and then posted to ledgers. The ledger balances are then utilized to prepare trial balance and balance sheet.

To Determine: The transactions should be directly recorded in the ledger account or not.

(b).

To determine

The advantages of journalizing and then posting in ledgers.

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Answer 4

Question

Chapter 2, Problem 14Q

(a)

To determine

The process of recording transaction: There is a step by step process of recording transactions of a business. Each transaction is first journalized in chronological order and then posted to ledgers. The ledger balances are then utilized to prepare trial balance and balance sheet.

To Determine: The transactions should be directly recorded in the ledger account or not.

(b).

To determine

The advantages of journalizing and then posting in ledgers.

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Answer 5

Chapter 2, Problem 14Q

(a)

To determine

The process of recording transaction: There is a step by step process of recording transactions of a business. Each transaction is first journalized in chronological order and then posted to ledgers. The ledger balances are then utilized to prepare trial balance and balance sheet.

To Determine: The transactions should be directly recorded in the ledger account or not.

(b).

To determine

The advantages of journalizing and then posting in ledgers.

Answer 6

Chapter 2, Problem 14Q

(a)

To determine

The process of recording transaction: There is a step by step process of recording transactions of a business. Each transaction is first journalized in chronological order and then posted to ledgers. The ledger balances are then utilized to prepare trial balance and balance sheet.

To Determine: The transactions should be directly recorded in the ledger account or not.

Answer 7

Chapter 2, Problem 14Q

(a)

To determine

The process of recording transaction: There is a step by step process of recording transactions of a business. Each transaction is first journalized in chronological order and then posted to ledgers. The ledger balances are then utilized to prepare trial balance and balance sheet.

To Determine: The transactions should be directly recorded in the ledger account or not.

Answer 8

(b).

To determine

The advantages of journalizing and then posting in ledgers.

Answer 9

(b).

To determine

The advantages of journalizing and then posting in ledgers.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 2 - Prob. 1Q Ch. 2 - Prob. 2Q Ch. 2 - 3. Heath Precourt, a fellow student, contends that...Ch. 2 - Prob. 4Q Ch. 2 - Prob. 5Q Ch. 2 - 6. What is the normal balance for each of the...Ch. 2 - Prob. 7Q Ch. 2 - Prob. 8Q Ch. 2 - Prob. 9Q Ch. 2 - Prob. 10Q

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The advantages of journalizing and then posting in ledgers.

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