What is the difference between a general journal and the ledger and why is each needed in
Question:
What is the difference between a general journal and the ledger and why is each needed in the accounting system?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
A general journal is a book of original entry where all transactions are initially recorded in chron...View the full answer
Answered By
Isabel Seraspi
I have experience teaching math, science, and English to students of all ages. I have also worked as a tutor in a college setting, helping students with their homework and preparing them for exams.
I believe that tutoring is a great way to help students learn. It allows students to get one-on-one help with their studies, and it gives them the chance to ask questions and get immediate feedback. Tutoring can also be tailored to the individual needs of the student, which is why I believe it is so effective.
I have seen firsthand how tutoring can help students improve their grades and confidence. I have also seen how it can help students who are struggling with a particular subject. I believe that tutoring is a great way to help students learn and succeed in school.
0.00
0 Reviews
10+ Question Solved
Related Book For
Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
8th Edition
Authors: Penne Ainsworth, Dan Deines
Question Posted:
Students also viewed these Business questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Dave Foreman, cost accounting manager for Calzado Products, was asked to determine the costs of the activities performed within the companys engineering department. The department has the following...
-
What is the difference between a job-order cost accounting system and a process cost accounting system? Give an example of products that would work best with each cost accounting system.
-
Smile is a social media site that is growing in popularity. The firm has been around for a few years and has created a nice market niche for itself. Now the company has a possible buyer who has made...
-
What type of internal controls can be used to help prevent pay-and-return billing schemes?
-
Jobco is planning to produce at least 2000 widgets on three machines. The minimum lot size on any machine is 500 widgets. The following table gives the pertinent data of the situation. Formulate the...
-
In the decision-making process, what are the ways in which context can impact outcomes?
-
Tech Support Services has the following unadjusted trial balance as of January 31, 2014. The debit and credit totals are not equal as a result of the following errors: a. The cash entered on the...
-
Warm Hands, a small company based in Prince Edward Island, manufactures and sells two types of lightweight gloves for runners- Warm and Cozy. Current revenue, cost, and unit sales data for the two...
-
Crawford Labs has increased its profitability dramatically by using models to allocate its sales force among the company's major drugs. To guide that effort, a nonlinear sales-response curve is...
-
What is the difference between journalizing and posting? Which occurs first?
-
Refer to E7.15. Prepare the balance sheet for Wagner Services, Inc., as of August 31, 2018. Data from E7.15 Given this adjusted trial balance for Wagner Services, Inc., prepare the income statement...
-
LaVar Johnson was a retail representative for the Wheaton Company, a processor of consumer packaged goods like cereals and canned goods. Johnson's job was to visit grocery stores in his territory to...
-
A company enters into a contract to provide software development services to a client for $100,000. The contract specifies a milestone payment of $40,000 upon completion of the initial design phase....
-
You borrow $24,260 from a bank and agree to pay them back over 10 years making annual payments. The interest rate on the loan is 9.88%. What is your payment amount? Round your answer to the nearest...
-
A physicist is sent to a small planet to conduct some experiments. He found that: for an object of mass 2 kg, tossed straight upward with an initial speed of 14 m/s, takes 9 seconds to hit the...
-
Shown below is an income statement in the traditional format for Charlotte Corp. that sells a single product having a sales volume of 15,000 units . Cost formulas are also shown (for example, COGS...
-
Suppose f(x) = 2log, (x). Find: f'(x) = Note: Enter In(a) In(b) for log, (a)|
-
What is the distinction between the price of capital equipment and the rental rate of capital?
-
Three successive resonance frequencies in an organ pipe are 1310, 1834, and 2358 Hz. (a) Is the pipe closed at one end or open at both ends? (b) What is the fundamental frequency? (c) What is the...
-
Holbrook, a calendar year S corporation, distributes $15,000 cash to its only shareholder, Cody, on December 31. Codys basis in his stock is $20,000, Holbrooks AAA balance is $8,000, and Holbrook...
-
Vogel, Inc., an S corporation for five years, distributes a tract of land held as an investment to Jamari, its majority shareholder. The land was purchased for $45,000 ten years ago and is currently...
-
Jonas is a 60% owner of Ard, an S corporation. At the beginning of the year, his stock basis is zero. Jonass basis in a $20,000 loan made to Ard and evidenced by Ards note has been reduced to $0 by...
-
Smolira golf corp data is given below. Current assets Cash Assets 2014 2015 SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Liabilities and Owners' Equity 2014 2015 Accounts $ 24,096 12,948 $ 24,600...
-
Evaluate L (5x + 3x4/) dx =
-
For a certain function f, it is known that f(x) dx == -0.1, 3 [ f(x) dr = 1.2 and f(x) dx=-6.6. What is L f(x) dx?
Study smarter with the SolutionInn App