Which journal would one record the purchase of a new part

Assignment Help Accounting Basics
Reference no: EM132804277

Problem 1:  A manual AIS begins with the capture of information from source documents could vary from paper to notepads, however, transaction data are most easily and effectively captured if the source documents are well designed. Which of the following is NOT an element of a well-designed source document?

a) Pre-number documents

b) Use preprinted data to the maximum extent possible

c) Group logically related information

d) Minimize the use of codes and checkoffs

e) Use multiple-part forms to facilitate proper distribution of the data

Problem 1:  Many journals are available for the recording of transactions. In which journal would one record the purchase of a new part of equipment for use in production?

a) Sales Journal

b) Purchase Journal

c) General Journal

d) Cash Receipts Journal

e) Cash Disbursements Journal

Problem 3:  The posting process....................

a) never generates more than one posting for each transaction

b) occurs as needed

c) is used to place post-it notes on all items that need attention

d) is used to meter the outgoing mail

e) summarizes the amounts recorded in the journals to the ledgers

Reference no: EM132804277

Questions Cloud

Explain your rationale for your dress code argument : State law does not give students the right to choose their mode of dress. Thus, the matter of student dress and grooming is at the discretion of local school.
Which a chart of accounts : Organization's business activities and transactions efficiently and effectively. In a manual system the process of performing this function follows the order of
What is the cost of goods sold under backflushing costing : The entity acquired direct materials during the year at a cost of P200,000. What is the cost of goods sold under backflushing costing
Identity theft moves online-crime rings mimic big business : A recent article in The Wall Street Journal entitled" As Identity Theft Moves Online, Crime Rings Mimic Big Business" states that 39% of the consumer
Which journal would one record the purchase of a new part : Many journals are available for the recording of transactions. In which journal would one record the purchase of a new part of equipment for use in production?
How can personality differences be accommodated : Post a response to the Discussion Spark post. Your response should contain at least two significant paragraphs. Consider how groups of people can have.
State the appropriate null and alternative hypotheses : The director of state agency believes that the average starting salary for clerical employees in the state is less than $30,000 per year.
What is your monthly payment : You choose the 30-year mortgage with interest rate 5%. Assuming the total transaction cost is $5,000. What is your monthly payment
What is the cost of saved energy for investment : Explain what your "cost of saved energy" answer from part b means in a way that would be understandable to a high-school senior.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

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

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

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

  Capm and venture capital

CAPM and Venture Capital

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