Serrato Computer Components Inc. uses a multi-column cash receipts journal. Indicate which column(s) is/are posted only in
Question:
Serrato Computer Components Inc. uses a multi-column cash receipts journal.
Indicate which column(s) is/are posted only in total, only daily, or both in total and daily.
(a) Accounts Receivable.
(b) Sales Discounts.
(c) Cash.
(d) Other Accounts.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
Answer The following rules are followed in multi column cash receipts journal are as under i Column ...View the full answer
Answered By
Praveen Chaturvedi
I am qualified chartered accountant from India as well as commerce graduate. Currently i am working in UAE from last five years as finance manager. My Experience and knowledge helps other to improve their knowledge.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Using T accounts for Cash, Accounts Receivable, Sales Tax Payable, Sales, Sales Returns and Allowances, and Sales Discounts, enter the following sales transactions. Use a new set of accounts for each...
-
Cash receipts from sales on account have been misappropriated. Which of the following acts would conceal this defalcation and be least likely to be detected by an auditor? a. Understating the sales...
-
Explain the advantages of using JDBC metadata for Java database applications.
-
A farmer must decide what combination of seed, water, fertilizer, and pest control will be most profitable for the coming year. The local agricultural college did a study of this farmer's situation...
-
A vessel contains one \(\mathrm{kg}\) of steam which contains \(\frac{1}{3} \mathrm{rd}\) liquid and \(\frac{2}{3} \mathrm{rd}\) vapour by volume. The temperature of steam is \(151.86^{\circ}...
-
Sulphur trioxide is produced according to the reaction \[ \mathrm{SO}_{2}(\mathrm{~g})+\frac{1}{2} \mathrm{O}_{2}(\mathrm{~g}) ightarrow \mathrm{SO}_{3} \] Given that \[ \begin{aligned} & \Delta...
-
Crabtree Co. purchased $60,000 of 6%, 15-year Thomas County bonds on June 20, 2014, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on May 1...
-
Consider the following 1) Draw the block diagram of 1:32 Demultiplexer. 2) Implement the 1:16 Demultiplexer in multisim. 3) Draw the truth table. 4) What are the practical applications of DEMUX.
-
Complete Alvins Music Inc.s (AMI) 2020 Form 1120, Schedule D, and Schedule G (if applicable) using the information provided below. Neither Form 4562 for depreciation nor Form 4797 for the sale of...
-
Lazar Co. uses special journals and a general journal. Identify the journal in which each of the following transactions is recorded. (a) Purchased equipment on account. (b) Purchased merchandise on...
-
Zweifel Company has the following opening account balances in its general and subsidiary ledgers on January 1 and uses the periodic inventory system. All accounts have normal debit and credit...
-
Which of the following is not a primary goal of raising equity capital? A. To finance the purchase of long-lived assets. B. To finance the companys revenue-generating activities. C. To ensure that...
-
How to design the product and services in the management. How to setup the management and how to be launch product in the market?
-
1.There are many examples of successful companies. To what extent is 3M justifiably highlighted as the innovating machine? 2. Outline the results of 3M (2 to 3 results). Identify opportunities for...
-
What strategies and mindset do you employ to not just navigate but thrive amidst adversity, turning challenges into opportunities for personal growth and success.
-
A VC raises a $440m venture fund and makes 28 investments. a. Roughly how much does the VC initially invest in each of these portfolio companies ($s, on average)? b. Roughly how much does the VC...
-
Research financial websites (provide the link ) that also help calculate future values and design a savings plan for a future dream purchase (home, boat, car, etc.). How long will it take you to...
-
Table 21.2 shows GDP/capita and total health care spending per capita for 42 countries (the fi rst two columns of numbers). (a) Calculate the means of both variables. (b) Calculate a regression...
-
Integration is a vital concept when applied in one?s life. Integrating your life means making ideal choices. Perfect choices on the other go in line with quality decisions. Quality decisions lead to...
-
On December 31, Frank Voris Company correctly made an adjusting entry to recognize $2,000 of accrued salaries payable. On January 8 of the next year, total salaries of $3,400 were paid. Assuming the...
-
Here are comparative balance sheets for Taguchi Company. Additional information:1. Net income for 2010 was $103,000.2. Cash dividends of $45,000 were declared and paid.3. Bonds payable amounting to...
-
Muldur Corporations comparative balance sheets are presented below. Additional information: 1. Net income was $18,300. Dividends declared and paid were $16,400. 2. Equipment which cost $10,000 and...
-
Comparative balance sheets for Eddie Murphy Company are presented below. Additional information:1. Net income for 2010 was $125,000.2. Cash dividends of $60,000 were declared and paid.3. Bonds...
-
Astro Company sold 20,000 units of its only product and reported income of $25,000 for the current year. During a planning session for next year's activities, the production manager notes that...
-
How do you determine the purpose and context of a memorandum, and what key elements should be included to ensure the memo effectively communicates its intended message?
-
1. Name two types of pathways that help a body maintain homeostasis, and an example of each. 2. What is the function of platelets? 3. Describe why air enters the lungs during inhalation. In your...
Study smarter with the SolutionInn App