Discuss the trade-off in choosing to update the general ledger accounts in real time.

Q: What is the process of transferring the debits and credits from the journal entries to the accounts…

A: Journal entry is the primary recording of business transactions. Every transaction has debit and…

Q: Post these transactions into ledger.

A: Ledger account: It is used to record the business transactions that were made during a financial…

Q: Make a Ledger

A: Based on the transactions given, the ledger accounts need to be prepared. Ledger is the second step…

Q: Customer payments received in advance of the product or service being provided is recorded in which…

A: The company can collect advance from the customer before sale of the goods. This method of…

Q: Which files do you usually find in a sales order module versus an account receivable (customer…

A: The sales order module contains an open sales order which is an internal document issued by seller…

Q: in managing accounts receivables, objectives must be achieved?

A: Working capital is calculated as the difference between the value of current assets and current…

Q: Record (in the T-shape) and journalize (on the Ledger):

A: Journal Entries in the Books of Alfa Inc.   Date Particulars Dr Cr         March,28,2021…

Q: Post to the ledger accounts.

A: The process of recording business transactions in the books of accounts for the first time is…

Q: What is the definition of a general ledger account?

A: A company's double-entry accounting system is built around the general ledger.

Q: create t-accounts general ledger

A: T accounts preparation is the important step of accounting cycle process. These accounts are…

Q: How do you start a new ledger with the reversing entries?

A: The reversing entries are prepared to cancel the adjustment entries made at the year end.

Q: Prepare a trial balance for the selected general ledger accounts and prove the accuracy of…

A: Trial Balance -:A trial balance is a simple schedule of all the common ledger accounts (both income…

Q: Write up a transaction analysis chart from the given transaction.

A: The Accounting equation is a statement that shows the equality between the resources and the…

Q: Distinguish between an accounts payable file and a vouchers payable file.

A: Accounts Payable system:   The accounts payable system looks over the due payments to be processed…

Q: Make a comparison between periodic and perpetual inventory systems and explain under which…

A: Answer: As per Q/A guidelines first question has been answered. Please repost remaining question.…

Q: The outputs of a computerized accounting information system are called Reports. Software.…

A: Accounting information systems: Accounting information system is a system that collects, stores,…

Q: Describe the accounts receivable in Microsoft Dynamics AX. Give an example to illustrate its…

A: Account Receivable in Microsoft Dynamics AX is used to track the incoming payments and customer…

Q: What is difference between general ledger and balance sheet. If possible, can you give me an…

A: The accounting is a process to record the financial transactions on regular basis and prepare the…

Q: Requirements: Draw a decision tree for the "mailing list" problem, including all probabilities and…

A:

Q: post them in the ledger

A: T accounts are the general ledger account balances in the business, which will be used for…

Q: Identify and explain the techniques and methods to manage receivables.

A: Accounts receivable management is critical for any firm, as day-to-day operations rely heavily on…

Q: What can you do to ensure that all payments are accurately coded and allocated to accounts?

A: SOLUTION- Coding in accounting is the process of assigning numbers or letters to data to create a…

Q: In a computer system, how are accounting records posted?a. master file is updated to a transaction…

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: If the company has a multiple trasactions, what ledger should you post the trasaction?

A: Financial accounting involves recording of financial transactions of a firm during the accounting…

Q: ease give me

A: We know the formula for Cost of good sold= Opening Inventory + Purchases - CLosing Inventory. We…

Q: What role does the general ledger department play in the conversion cycle?

A: Conversion Cycle: A set of all processes that are used to collect inputs and convert them into final…

Q: The usual sequence of steps in the transaction recording process is: journal ledger → analyze.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: PREPARE THE GENERAL LEDGER

A: General ledger accounts are used to post recorded transactions into appropriate accounts. These are…

Q: What is the purpose of the general ledger history file?

A: General Ledger:   The financial information required for the preparation of financial report; of…

Q: Differentiate between source documents and vouchers.

A: A source document is generated routinely when the transaction takes place as a cash memo; invoice,…

Q: What is a general ledger account?

A: Ledger: Ledger is a master account document which records all the transactions of an account at one…

Q: Explain the advantages of an electronic billing cycle

A: The electronic billing cycle is the use of of technology. it is the process in which the bills are…

Q: Explain Counting and Record Keeping?

A: Although counting is the process of adding up numbers or marking a succession of numerals from…

Q: CREATE YOUR OWN FORM OF “CHART OF ACCOUNTS”

A: NATURE OF BUSINESS - GARMENTS MANUFACTURING   CHART OF ACCOUNTS ACCOUNT NO.  ACCOUNT TITLE 1…

Q: Posting: transfers ledger transaction data to the journal. а. normally occurs before journalizing.…

A: Journal entry: It can be defined as the recording of financial events and transactions that have…

Q: Which task should the general ledger perform?a. update the general ledgerb. prepare journal…

A: General Ledger: General ledger records the summary of individual events from special journal and…

Q: ware to analyze the customer and vendor’s Payments and Receipts? Justify the figures using

A: Software used:  QuickBooks Premier Plus Contractor Edition 2019-Desktop   Needed:  A report showing…

Q: State the purpose of footing the total column in the client’saccounts receivable trial balance,…

A: A necessary audit procedure is to test the information on the client's trial balance for detail…

Q: transactions into ledger.

A: Meaning of Ledger All the transactions which are recorded on journal are posted into the ledger…

Q: What notations are entered into the Posting Reference column of a ledger account?

A: A ledger account is prepared in a T shape. It has column of debit and credit. The ledger accounts…

Q: What is a sub-ledger

A: Sub - ledger means as follows

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.