What should marc say to kelly

Assignment Help Accounting Basics
Reference no: EM135462

Kelly: I've been thinking about our method of recording entries. It seems that it's inefficient.

Marc: In what way?

Kelly: 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 process into one step and save ourselves a lot of time. What do you think?

Marc: We need to have a talk.

What should Marc say to Kelly?

Reference no: EM135462

Previous Q& A

  Which of the next is not a function of a urinary system

A middle-aged man comes in since he has noticed multiple small, blood-red, raised lesions over his anterior chest and abdomen for past numerous months. They are not painful and he has not known about any bleeding or bruising. He is concerned this mig..

  Describe origin of both of the original prototrophic colonie

Elucidate results of all four crosses, using clearly defined gene symbols. describe origin of both of the original prototrophic colonies.

  Master manufacturing overhead budget

The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, thus, can be ignored.

  Cost of goods sold calculations

Show the corrected Cost of Goods Sold calculations for both 2011 and 2012. Consider the errors had not been corrected, in your answer book, in tabular format as shown below show the dollar effect

  Prepare a research memo

Bob and Mary have been married for 25 years. They are both college professors. Mary makes $65,000 yearly and Bob makes $75,000 yearly

  What abnormality may underlie those conditions

How can you infer what type of volcano erupted in a given area based on type of volcanic deposits now found as layers of rock. What abnormality may underlie those conditions.

  Prepare sunday starrs cash budget

Prepare Sunday Starr's cash budget for January and February in columnar format.

  Compute the current ratio and quick ratio

Compute the current ratio, quick ratio, cash to existing liabilities ratio, over a two-year period. Show and interpret the ratios that you evaluated.

  Which of the effects would you expect to see in cardiac cell

Joe Average has just been frightened by a very loud noise as he was taking a very difficult physiology exam. In response, his adrenal glands have released a large amount of adrenaline into his circulation. Which of the effects would you expect to ..

  Evaluate the price and usage variances for direct labor

Evaluate the price and usage variances for direct labor and direct material and compute the material variances


Write a Review


Similar Q& A

  Calculate the breakeven point in units

Provide for a general definition of the income statement, its purpose as well as its relation to the Balance Sheet and Cash Flow statements

  Prepare a partial income statement

The company mostly sells on a retail basis to household consumers, but occasionally receives large orders for tables and chairs from schools and businesses.

  Simple interest and compound interest

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

  Fundamental accounting equation

What happens to the fundamental accounting equation when the sole proprietor of a business invests more cash in it

  Calculating and displaying loan in balance sheet

Show the loan in the balance sheet of the company

  Twin peaks building supplies

Chris White was a forestry technician who had been searching for several years for a business opportunity to combine with his forestry career

  Explain include authority and reasoning

Explain the problem with authority and resoning

  Find appropriate depreciation expense for the year

Fulfil all required journal entries for each of the long-term activities, which took place during 20x7. Keep in mind to account for the appropriate depreciation expense for the year on any of the long-term assets.

  Theory of interest

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

  Define the following persons'' role in an agency

Explain the difference between the role of the Account Executive and the Account Planner within an agency Define the following persons' role in an agency

  Prepare solutions to the construction contracts

Please prepare solutions to the following questions concerning topics covered in the first half of the course

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