User Account

All Pages

Which represents the correct posting for the transaction

Assignment Help Financial Accounting
Reference no: EM132493056

Question 1: On 29 March 20.9, the bookkeeper of Gizmo Traders recorded the cash sales of R5 750 for the day. Which of the following represents the correct posting for the above transaction? Journal VAT input VAT output Sales

(1) Cash receipts journal R750 - R5 000

(2) Cash payments journal - R750 R5 000

(3) Cash receipts journal R750 - -

(4) Cash receipts journal - R750 R5 000

(5) Cash payments journal - R750 R5 000

Reference no: EM132493056

Questions Cloud

What will the general ledger entries be for the credit loss : At Summerhill Traders, What will the general ledger entries be for the credit losses recovered from Miss T Luna's insolvent estate?
Calculate the force f which is acting on the cover : Calculate the force F which is acting on the cover of the vessel - cross section of the vessel - cross section of the vessel
What will be general ledger entries be for the outstanding : Summerhill Traders, What will be the general ledger entries be for the outstanding debt of Miss T Luna which must be written off as irrecoverable?
What will be general ledger entries for the interest charged : What will be the general ledger entries for the interest charged on Miss A Naidoo's overdue account?
Which represents the correct posting for the transaction : R5 750 for the day. Which of the following represents the correct posting for the above transaction? Journal VAT input VAT output Sales
Distinction between western and non-western art : How do artists such as Seydou Keita and Wangechi Mutu complicate a distinction between Western and Non-western art?
Describe the advantages of each method : Post a thread comparing the benefits of single and multi-player games to simulate complex systems. In our post, describe the advantages of each method.
What effect will transaction have on the accounting equation : Gizmo Traders, What effect will the transaction have on the accounting equation if Gizmo Traders has a favourable bank balance?
How business intelligence tools can contribute : Discuss how business intelligence tools can contribute to effective decision-making.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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