What should heather say to ed

Assignment Help Accounting Basics
Reference no: EM131527478

Question: The following discussion took place between Heather Sims, the office manager of Sedgemoor Data Company, and a new accountant, Ed Hahn. Ed: I've been thinking about our method of recording entries. It seems that it's inefficient. Heather: In what way? Ed: Well-correct me if I'm wrong-it seems like we have unnecessary steps in the process. We could easily develop a trial balance by posting our transactions directly into the ledger and bypassing the journal altogether. In this way we could combine the recording and posting processes into one step and save ourselves a lot of time. What do you think? Heather: We need to have a talk. What should Heather say to Ed?

Reference no: EM131527478

Questions Cloud

Analyze the relationship between capital structure and risk : Analyze the relationship between capital structure, cost of capital, and risk, using examples from your chosen organization.
Does mohawk view itself as a carpet manufacturer : Mohawk Industries is a leading distributor of carpets and rugs in the United States. The company sells its carpets and rugs to locally owned.
Discuss whether ross is behaving in a professional manner : At the end of the current month, Ross Heimlich prepared a trial balance for Main Street Motor Co. The credit side of the trial balance exceeds the debit side.
What is the value of share of preferred stock : What is the value of share of preferred stock that promises to pay $1.20 every year,indefinitely, if you have a required rate of return of 8.21%?
What should heather say to ed : The following discussion took place between Heather Sims, the office manager of Sedgemoor Data Company, and a new accountant, Ed Hahn.
Director responsibilities and fraud : Director responsibilities and fraud - Discuss about board of directors
Why are there just two sides to an entry : The following excerpt is from a conversation between Peter Kaiser, the president and chief operating officer of Sprocket Construction Co., and his neighbor.
What is the euro-yen cross rate : The dollar-euro exchange rates are $1.5968/1.00 and the dollar-yen exchange rates is 108.0030/1.00. What is the euro-yen cross rate?
What are the benefits of investing in art for a corporation : How do the characteristics and style of the Modern American artwork address the theme of "progress"?What are the benefits of investing in art for a corporation?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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