Describe the posting procedures to the general ledger and the rules for totaling and ruling the following.
Question:
a. Sales journal
b. Purchases journal
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (19 reviews)
a Post the total to the general ledger as a debit to Accounts Receivable a...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Question Posted:
Students also viewed these Accounting questions
-
Posting transactions to the general ledger and accounts receivable ledger. INSTRUCTIONS 1. Open the general ledger accounts and accounts receivable ledger accounts indicated below. 2. Post the...
-
Posting transactions to the general ledger and accounts receivable ledger. INSTRUCTIONS 1. Open the general ledger accounts and accounts receivable ledger accounts shown below and at the top of the...
-
Posting transactions to the general ledger and accounts receivable ledger. GENERAL LEDGER ACCOUNTS 101 Cash 401 Sales 111 Accounts Receivable 421 Sales Returns and Allowances 221 Sales Tax Payable...
-
a. Find the probability of getting exactly 1 girl in 10 births. b. Find the probability of getting 1 or fewer girls in 10 births. c. Which probability is relevant for determining whether 1 is an...
-
Dubious Value, Inc. is scheduled to receive a 144 million cruzados dividend from its affiliate in Companies, Brazil, in three months. Name and briefly describe several different financial market...
-
Over a four-year period, Matt Ewing purchased shares in the Oakmark I Fund. Using the following information, answer the questions below. You may want to review the concept of dollar cost averaging in...
-
Differentiate the business practices related to social responsiveness, social responsibility, and social obligation.
-
Managing performance is an importantyet delicateprocess for managers to undertake. They need to make tough calls at times regarding who is performing well or not. Also, they need to play the role of...
-
Ms. Hill earned a $105,250 salary, and Mr. Gomez earned a $192,000 salary. Neither individual had any other income, and neither can itemize deductions. Assume the taxable year is 2023. Use Individual...
-
A gasoline engine uses 2 moles of monoatomic ideal gas as the working substance. Figure 3 shows the thermodynamic cycle taken by the engine. Process a b is adiabatic, b c is isochoric, e d is...
-
Describe the four procedures that most companies follow to maintain internal control of purchases of merchandise.
-
Describe the procedure for posting each of the following: a. From the sales journal to the accounts receivable ledger b. From the purchases journal to the accounts payable ledger
-
If Alice and Alan (a couple) and Barbara and Bob (another couple) sit in a circle of chairs, what is the probability that each of the couples sit together?
-
Refer to the equations and graph below for assistance in answering these questions. 1. Peter lives for three periods. He is currently considering three alternative education-work options. He can...
-
For each transaction, indicate the impact each item had on income and the dollar amount of the change in income, if any. Input decreases to net income as negative values. Upon completion, compare the...
-
Magenta Inc. sold a product for $82,000 that includes a 24-month warranty for repairs. The average cost of repairs over the warranty period is 8% of the sales price. Calculate the warranty expense...
-
Communication apprehension refers to the fear or anxiety people experience at the thought of being evaluated by others. When was the last time you (or watched someone else) experience(d) anxiety in...
-
On January 1, Northern Inc. had 200,000 common shares authorized, 10,000 common shares issued, and 9,500 common shares outstanding. On May 1, Northern sold all of its treasury stock. After this...
-
How does knowledge management impact the management of technology and innovation?
-
To help you become familiar with the accounting standards, this case is designed to take you to the FASBs Web site and have you access various publications. Access the FASBs Web site at...
-
Activity A is worth $500, is complete, and actually cost $500. Activity B is worth $1,000, is 50% complete, and has actually cost $700 so far. Activity C is worth $100, is 75% complete, and has...
-
Refer to the financial statements and notes for Columbia Sportswear included at the back of the book. Required 1. What items does the company list in the Property and Equipment category? 2. What...
-
Investors and lenders who read financial statements must determine the age, composition, and productivity of operating assets. Refer to the financial information at the back of the book for Under...
-
Assume that you know the total dollar amount of a loan and the amount of the monthly payments. How can you determine the interest rate as a percentage of the loan?
-
Title: Request for Proposal - Market Research on Cheese in Canada Background Contexts: It has been documented that the consumption of cheese is an important aspect of Canadian food culture. Recent...
-
Reflect on the different accounting methods for investments and their impact on the financial statements of companies. How do these methods affect the portrayal of a company's financial health and...
-
Radio station WBAB in Babylon broadcast at a frequency of 102.3 MHz. What is the wavelength of the radio wave emitted by WBAB?
Study smarter with the SolutionInn App