The type of journal used to pay for the items purchase is a purchase journal
True
False
Answer is False
The type of journal used to pay for the items purchased is a payment journal and not a purchase journal.
A purchase journal is used to record purchase of inventory.
Hence, the statement is false.
The type of journal used to pay for the items purchase is a purchase journal
all items on the book side of the bank reconciliation require jour All items on the book side of the bank reconciliation require journal entries. O O True False Click to select your answer. ве O Type here to search
A journal that is used to record and post transactions of a similar type is a(n):
Funds borrowed and used to pay for an asset are not included in the cost until the borrowed funds are repaid. Group of answer choices True False
The type of special journal used to record the receipt of cash from any source is: Select one: A. Revenue journal B. Cash receipt journal O C. Cash payment journal O D. Revenue Journal
1. Amna wants to purchase a used Lexus for OR 20,000.00. She could pay OR 5000.00 at purchase and wishes to pay the balance in 5 yearly equal installments at a 12% interest. How much would Amna’s yearly installments payment be? 2. Mohammed wants to buy a house in another seven years. The type of house he wants to buy is currently selling for OR 50,000, and the price will increase at a compound rate of 10% per year. Mohammed...
"If you pay $10,000 Canadian dollars for a used truck for your business, then the aggregate investment of the economy is increasing by $10,000 Canadian Dollars" Is this statement True or False? Justify your answer.
P1-1A Below are typical transactions for Hewlett-Packard. Type of Business Activity Transactions Pay amount owed to the bank for previous borrowing. Pay utility costs. Purchase equipment to be used in operations. Provide services to customers. Purchase office supplies. Purchase a building. Pay workers' salaries. Pay for research and development costs. Pay taxes to the IRS." Sell common stock to investors. Required: Indicate whether each transaction is classified as a financing, investing, or operating activity.
The stock valuation model P = D1/(r-g) can be used to value start-up companies that pay no dividends. True False
For each of the items, indicate the type of business activity-operating, investing, or financing. Type of Activity 1. Purchase of goods for resale Operating 2. Issue of common shares 3. Sale of equipment that the company has finished using 4. Receipt of bank loan 5. Purchase of long-term investment 6. Purchase of equipment 7. Sale of merchandise to customers 8. Payment of salaries to employees 9. Sale of long-term investment 10. Repayment of loan owed to bank 11. Payment of...
What loan type is typically a small-dollar debt that can be used to pay bills or make purchases? Group of answer choices Personal. Cash advance. Payday. Bank.