Define the following: a. Account b. Contra account c. Ledger d. Journal e. Posting
Question:
a. Account
b. Contra account
c. Ledger
d. Journal
e. Posting
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
a An account is used by a company to store the recorded monetary info...View the full answer
Answered By
Rinki Devi
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and helped them achieve great subject knowledge.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Question Posted:
Students also viewed these Accounting questions
-
Define the following: a. Account b. Contra account c. General ledger d. Journal e. Posting
-
Define qualitative and quantitative research. Compare and contrast the two approaches.
-
A retailer is posting strong earnings growth in its bricks-and-mortar business, but its fledgling Internet operation is posting losses. In making their earnings estimates, should Wall Street analysts...
-
What are the different relays that employed for protection of apparatus and transmission lines?
-
The liabilities and shareholders' equity items (in thousands) that follow were taken from the March 31, 2012, balance sheet for Saputo Inc.: Accounts payable and accrued...
-
The head of your company has asked you to make a report on ways to reduce spending in your department without losing productivity. Draft a one-page report with the following headings: Introduction,...
-
In a single stage steam turbine saturated steam at 10 bar is supplied through a convergent divergent steam nozzle of \(20^{\circ}\) angle. The mean blade speed is \(400 \mathrm{~m} / \mathrm{s}\)....
-
Vern Westby inherited a ticket from Anna Sjoblom, a survivor of the sinking of the Titanic, which had been pinned to the inside of her coat. He also inherited an album of postcards, some of which...
-
Smart Technology Company had the following information during the previous year for one of its product lines: Sales Price per Unit $6000 Units in Beginning Inventory 0 Units Started During the Year...
-
Cathys Cuisine Ltd. is a small restaurant and catering business started three years ago by Cathy Crosby. Initially, the companys operations consisted of a small diner. In 2019, the company added the...
-
What are the major financial statements of a company and what information does each summarize?
-
Why is it advantageous to a company to initially record each of its transactions in a journal?
-
Ask a random sample of students at the library on a Friday night How many hours a week do you study? to collect data to estimate the average number of hours a week that all college students study....
-
a response to A cost-benefit analysis is a financial instrument used to determine the economic viability of a proposed solution. It entails quantifying both the costs and advantages of each proposal....
-
A list of budgets used to predict the sales budget and end with the cash budget and financial statement budgets is called?
-
What risks do organizations face? List five risks, preferably ones that have not yet been posted by others, that present challenges to organizations. For each of the risks, draft a sentence or two on...
-
What are the benefits and risks of an integrating social and environmental data into annual financial reports, versus a separate report for Social and Environmental issues?
-
What is the purposes of an "Internal Factor Evaluation (IFE) Matrix"? Using the company you selected (Walmart), identify organization's internal one (1) strength and one (1) weakness . And cite your...
-
Comment on creativity in relation to mental illness and deviance.
-
Research corporate acquisitions using Web resources and then answer the following questions: Why do firms purchase other corporations? Do firms pay too much for the acquired corporation? Why do so...
-
Find the values of A, B and C such that 2x 2 5x + 12 = A(x 1) 2 + B(x 1) + C
-
Why is it necessary to develop a definitional framework for the basic elements of accounting?
-
Why is it necessary to develop a definitional framework for the basic elements of accounting?
-
Why is it necessary to develop a definitional framework for the basic elements of accounting?
-
A firm has 36.30 million shares of common stock outstanding at a price of $32.81 per share. The firm also has 492000.00 bonds outstanding with a current price of $1,089.00. The outstanding bonds have...
-
Commwest Bank owns $300 million of variable-rate notes yielding BBR plus 4 per cent. These loans are financed by $300 million of fixed-rate bonds costing 5 per cent.Northside Building Societyhas $300...
-
Mr. Smith enters into the long position in 5 S&P 500 futures contracts. His brokerage account requires an initial margin balance equal to 15% of the notional amount and a maintenance margin equal to...
Study smarter with the SolutionInn App