Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Accounting systems from manual to computerized?
The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and is still used by some very small companies. Slowly, some manual systems evolved to include multiple journals and ledgers for increased efficiency. For example a manual system with multiple journals and ledgers often includes a sales journal to record all credit sales and a purchases journal to record all credit purchases and also a cash receipts journal to record all cash receipts and a cash disbursements journal to record all cash payments. Still recorded in the common journal are adjusting and closing entries and any other entries that do not fit in one of the special journals. Moreover the general ledger such a system normally has subsidiary ledgers for accounts receivable and accounts payable showing how much each customer owes and how much is owed to each supplier. The general ledger explains the total amount of accounts receivable and accounts payable but the details in the subsidiary ledgers allow companies to send bills to customers and pay bills to suppliers.
One more innovation in manual systems was the one write or pegboard system. Beside creating one document and aligning other records under it on a pegboard companies could record transactions more efficiently. These systems allow the writing of a check and the simultaneous recording of the check in the cash disbursements journal. Even though a few of these systems are still in use today computers make them obsolete.
explain the separate set of books method for maintaining joint venture accounts
Q. What do you mean by depreciable asset? A depreciable asset is a manufactured asset such like a building, vehicle, machine or piece of equipment that provides service to a bu
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
Q. Illustrate unearned service fees? Micro Train reports the service income in its income statement for 2010. The company enters the USD 3000 balance in the Unearned Service Fe
On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bon
MS EXCEL.
The assets and liabilities of Amos Moving Services at May 31, 2011, the end of the current year, and its revenue and expenses for the year are listed below. On April 1, 2010, the
As part of their divorce agreement , Harry transfers to Mary, his former spouse, GM stock with a market value of 30000, Harry had $20000 invested in the stock. How does this transf
what are the implications of applying accounting concepts wrongly
Q. Explain Weighted-average inventory? Weighted-average: Ensuing inventory is priced using a weighted-average unit cost. In perpetual inventory procedure a new weighted-average
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd