User Account

All Pages

What are the advantages of first recording transactions

Assignment Help Accounting Basics
Reference no: EM131138022

(a) Should business transaction debits and credits be recorded directly in the ledger accounts?

(b) What are the advantages of first recording transactions in the journal and then posting to the ledger? 

Reference no: EM131138022

Questions Cloud

Purchasing un-necessary medical equipment : Some of the most waste, in my opinion, takes place in purchasing un-necessary medical equipment. However, physicians have major say in how a hospital purchase new medical equipment and they advocate that “if you buy it we will use it”. How would you ..
Competitive advantages enjoyed by large restaurant chain : Compare the competitive advantages enjoyed by a large restaurant chain, such as Logan’s or Red Lobster, and the sources of competitive advantages enjoyed by a small local restaurant.
To forecast using trend projection in excel : To forecast using trend projection in Excel
Journalize the following business transactions : Journalize the following business transactions.
What are the advantages of first recording transactions : (a) Should business transaction debits and credits be recorded directly in the ledger accounts?(b) What are the advantages of first recording transactions in the journal and then posting to the ledger?
When entering a transaction in the journal : When entering a transaction in the journal, should the debit or credit be written first?
What are the advantages of using a journal : What are the advantages of using a journal in the recording process?
Indicate whether the following accounts generally : Indicate whether the following accounts generally will have
Cash is received on signing a note payable : For the following transactions, indicate the account debited and the account credite

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the proper adjusting entry at june 30 the end of

1.when a company pays dividendsthe retained earnings account will be directly increased w a debitthe dividends account

  Apache company sold a parcel of undeveloped land to a

apache company sold a parcel of undeveloped land to a construction company for 4300000. the book value of the land on

  Calculate the return on equity for both companies

For the ROA, break both of them down into their two component ratios and prove they equal the returns calculated above.

  What is the rebate expense and liability

During 2010, 4,000,000 packages of light bulbs are sold, and 140,000 $1 rebates are mailed to customers. What is the rebate expense and liability, respectively, shown on the 2010 financial statements dated December 31?

  Double taxation on corporate income

Shareholders in closely held C-corporations often pay themselves large salaries in order to avoid double taxation on corporate income.

  What is the balance for each revenue source

Prepare the revenues and expenditures subsidiary ledgers for the 2013 events and transactions of Lawton City listed in P3- 7. What is the balance for each revenue source after the final transaction? What is the available appropriation for each fun..

  Wendells donut shoppe is investigating the purchase of a

wendells donut shoppe is investigating the purchase of a new 18600 donut-making machine. the new machine would permit

  Als sport store has sales of 897400 costs of goods sold of

als sport store has sales of 897400 costs of goods sold of 628300 inventory of 208400 and accounts receivable of 74100.

  A project with a shorter payback period would always be

true or false1. the net present value of a project will be negative if the required rate of return is greater than the

  Company bulletin board system

A new sales representative, Mark Yount, has just received this copy of the month-end fincnail reports. He is puzzled by the term "unearned revenue." He left the following email message for you on the company's bulletin board system: What is this?

  Rfid on players-social media and big data

Research this topic in the DeVry online Library, and please include the links to where you found the information that you are discussing. Some ideas to get you started include high-tech stadiums, RFID on players, social media, and big data.

  Discuss the differences between a donor imposed

Discuss the differences between a donor imposed restriction and a conditional promise to give. How is each reported in the financial statements?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd