5. Where do I find details related to a customer? A) AP ledger B) AR ledger...
5.
Where do I find details related to a customer?
A) AP ledger
B) AR ledger
C) general journal
D) none of the above
6.
what type of an account can be used to represent a general ledger account
A) T account
B) Y Account
C) none of the above
7.
total debits must equal total credits
A) true
B) false
8.
WHICH ELEMENTS ARE REQUIRED TO RECORD A TRANSACTION ON THE
BOOKS
A) EXCHANGE
B) QUANTIFIED IN US DOLLARS
C) NOT INVOLVE A CONTINGENCY
D) ALL OF THE ABOVE ARE REQUIRED
9.
Cash consists of currency, checks and coins
A) yes
B) no
C) not always
Homework Answers
5. Option (b) is correct
AR ledger is related to the customer. It is the accounts receivable ledger. It represents the amounts due to a customer for sales made on account.
6. Option (A) is correct
A T account is used to represent a general ledger account.
7. TRUE
In the double entry system used by accounting, total debits must equal total credits.
8. Option (D) is correct
All the given elements are required to be recorded in the books.
9. Option (A) is correct
Cash includes currency, checks and coins.
Add Answer to:
5.
Where do I find details related to a customer?
A) AP ledger
B) AR ledger...
Required: Prepare the adjusting journal entries that were recorded at December 31, 2021 The general ledger...
Required: Prepare the adjusting journal entries that were recorded at December 31, 2021 The general ledger of the Karlin Company, a consulting company, at January 1.2021. contained the account balances: Account Title Debits Credits 30,000 15,000 20,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9.500 65,000 65,000 The following is a su u sactions for the year: a. Service revenue, S u ch 50,000 was on account and the balance was...
The September 30 bank statement for Cadieux Company and the September ledger amount for cash are...
The
September 30 bank statement for Cadieux Company and the September
ledger amount for cash are summarized here.
[The following information applies to the questions displayed below) The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT C hecks Deposits PI B Other NSF check $100 $3.030 Balance, September 1 September 7 September 11 September 12 September 17 September 26 September 29 September 30 #101 $ 810 #102 1720 #103...
(The following information applies to the questions displayed below/ The general ledger of Zips Storage at...
(The following information applies to the questions displayed below/ The general ledger of Zips Storage at January 1, 2018, includes the following account balances Accounts Cash Accounts Recelvable Prepald Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Deblits Credits 25,600 16.400 14,000 158,000 $ 7700 6,800 153,000 46,500 Totals $214,000 $214.000 The following is a summary of the transactions for the year: a. January 9 Provide storage services for cash, $144,100, and on account, $57,200 b. February 12...
On January 1, 2021, the general ledger of TNT Fireworks includes the following account balances: Credit...
On January 1, 2021, the general ledger of TNT Fireworks includes the following account balances: Credit Debit $ 59,900 27,400 $ 3,400 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Notes Receivable (5%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 37,500 26,400 167,000 16,000 232,000 66,800 $318,200 $318,200 During January 2021, the following transactions occur: January 1 Purchase equipment for $20,700. The company estimates a residual value of $2,700 and a six-year service life....
Can someone please help Trump The general ledger of the Company, a consulting company, at January...
Can someone please help
Trump The general ledger of the Company, a consulting company, at January 1, 2000, contained the following account balances: Account Title Debits Credits 30,000 15,000 500 20,000 Cash Accounts receivable Allowance for uncollectible accounts Equipment Accumulated depreciation Salaries payable Capital stock Retained earnings Total 6,000 9,000 40,000 9,500 65,000 65,000 The following is a summary of the transactions for the year: a. Sales of services, $100,000, of which $30,000 was on credit. b. Collected on accounts...
P 2–6 Accounting cycle LO2-2 @ through LO2-70 The general ledger of the Karlin Company, a...
P 2–6 Accounting cycle LO2-2 @ through LO2-70 The general ledger of the Karlin Company, a consulting company, at January 1, 2018, contained the following account balances: Account Title Debits Credits Cash 30,000 Accounts receivable 15,000 Equipment 20,000 Accumulated depreciation 6,000 Salaries payable 9,000 Common stock 40,500 Retained earnings 9,500 Total 65,000 65,000 The following is a summary of the transactions for the year: Page 101 a. Sales of services, $100,000, of which $30,000 was on credit. b. Collected on...
i need help with 5-8 P3-8A The general ledger of Red Storm Cleaners at January 1,...
i need help with 5-8
P3-8A The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Credits Debits $20,000 8,000 4,000 15,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 5,000 7,500 25,000 9,500 $47.000 $47,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $60,000, of which $21,000 is on account. 2. May Collect on accounts...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Credits Debits 31,400 13,500 22,eee Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,6ee 7,750 44,500 8,050 66,900 66,900 The following is a summary of the transactions for the year: a. Service revenue, $115,000, of which $34,800 was on account and the balance was recelved in cash. b. Collected on accounts recevable, $24,100. c....
a. Kacy Spade, owner, invested $17,500 cash in the company in exchange for common stock. b....
a. Kacy Spade, owner, invested $17,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $508 cash. c. The company purchased $9,678 of office equipment on credit. d. The company received $2,065 cash as fees for services provided to a customer. e. The company paid $9,678 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,710 as fees for services provided. g. The...
Required: Prepare the adjusting journal entries that were recorded at December 31, 2021 The general ledger of the Karlin Company, a consulting company, at January 1.2021. contained the account balances: Account Title Debits Credits 30,000 15,000 20,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9.500 65,000 65,000 The following is a su u sactions for the year: a. Service revenue, S u ch 50,000 was on account and the balance was...
The
September 30 bank statement for Cadieux Company and the September
ledger amount for cash are summarized here.
[The following information applies to the questions displayed below) The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT C hecks Deposits PI B Other NSF check $100 $3.030 Balance, September 1 September 7 September 11 September 12 September 17 September 26 September 29 September 30 #101 $ 810 #102 1720 #103...
(The following information applies to the questions displayed below/ The general ledger of Zips Storage at January 1, 2018, includes the following account balances Accounts Cash Accounts Recelvable Prepald Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Deblits Credits 25,600 16.400 14,000 158,000 $ 7700 6,800 153,000 46,500 Totals $214,000 $214.000 The following is a summary of the transactions for the year: a. January 9 Provide storage services for cash, $144,100, and on account, $57,200 b. February 12...
On January 1, 2021, the general ledger of TNT Fireworks includes the following account balances: Credit Debit $ 59,900 27,400 $ 3,400 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Notes Receivable (5%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 37,500 26,400 167,000 16,000 232,000 66,800 $318,200 $318,200 During January 2021, the following transactions occur: January 1 Purchase equipment for $20,700. The company estimates a residual value of $2,700 and a six-year service life....
Can someone please help
Trump The general ledger of the Company, a consulting company, at January 1, 2000, contained the following account balances: Account Title Debits Credits 30,000 15,000 500 20,000 Cash Accounts receivable Allowance for uncollectible accounts Equipment Accumulated depreciation Salaries payable Capital stock Retained earnings Total 6,000 9,000 40,000 9,500 65,000 65,000 The following is a summary of the transactions for the year: a. Sales of services, $100,000, of which $30,000 was on credit. b. Collected on accounts...
P 2–6 Accounting cycle LO2-2 @ through LO2-70 The general ledger of the Karlin Company, a consulting company, at January 1, 2018, contained the following account balances: Account Title Debits Credits Cash 30,000 Accounts receivable 15,000 Equipment 20,000 Accumulated depreciation 6,000 Salaries payable 9,000 Common stock 40,500 Retained earnings 9,500 Total 65,000 65,000 The following is a summary of the transactions for the year: Page 101 a. Sales of services, $100,000, of which $30,000 was on credit. b. Collected on...
i need help with 5-8
P3-8A The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Credits Debits $20,000 8,000 4,000 15,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 5,000 7,500 25,000 9,500 $47.000 $47,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $60,000, of which $21,000 is on account. 2. May Collect on accounts...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Credits Debits 31,400 13,500 22,eee Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,6ee 7,750 44,500 8,050 66,900 66,900 The following is a summary of the transactions for the year: a. Service revenue, $115,000, of which $34,800 was on account and the balance was recelved in cash. b. Collected on accounts recevable, $24,100. c....
a. Kacy Spade, owner, invested $17,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $508 cash. c. The company purchased $9,678 of office equipment on credit. d. The company received $2,065 cash as fees for services provided to a customer. e. The company paid $9,678 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,710 as fees for services provided. g. The...
Most questions answered within 3 hours.
-
two lady bugs sit on a rotating disk without slipping. lady bug
1 is half away...
asked 1 minute ago -
Core Concepts of Accounting Information Systems
Discussion Question #4
Does a company have the right to...
asked 6 minutes ago -
Why does the Solow model cannot explain growth in the long run?
What is the role...
asked 9 minutes ago -
Question 8 Interactive LearningWare 26.2 offers a review of the
concepts that play roles in this...
asked 13 minutes ago -
draw product of cyclohex-2-en-1-one, Sodium methoxide and
hydronium workup
asked 22 minutes ago -
In a certain state, about 65% of drivers who are arrested for
driving while intoxicated (DWI)...
asked 22 minutes ago -
A single NEC SX-9 vector processor unit (VPU) has a peak
arithmetic
performance of 102.4 GFs/s....
asked 41 minutes ago -
. Determine the hourly multiplication factors
such that the total daily water consumption will equal 15,000...
asked 41 minutes ago -
A budgeting Web site reported that 35% of U.S. households have
withdrawn money from a 401(k)...
asked 40 minutes ago -
In this assignment, you will write a minimum two-page paper that
explains the treatment of internal...
asked 44 minutes ago -
Direct marketing is also referred to as Question 50 options: 1)
one-to-one marketing. 2) business-customer marketing....
asked 47 minutes ago -
INK Ltd is grocery retailer with 103 shops around South
Australia and Tasmania. The company has...
asked 53 minutes ago