The periodical totals of the Returns Inwards Day Book are: (a) Debited to the Trade receivables control

Question:

The periodical totals of the Returns Inwards Day Book are:

(a) Debited to the Trade receivables control account

(b) Credited to the Trade receivables control account

(d) Credited to the Trade payables control account

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

See More Books

Question Posted: Aug 30, 2023 08:25 AM

See More Questions

Explain the operation of the given block diagram of Process Control System. Manipulated variable Z- Control signal Control element Set point Controller Input Error signal Feedback signal Process...
Determine whether the triangles are similar. If so, write a similarity statement and the postulate or theorem that justifies your answer. A B 62 E C 85 33 D
As at 31 March 2012 the Trade receivables control account balance was reported as 296,400 and this did not agree with the sum of the individual customers balances. The following errors were...
Pop Corporation acquired 80 percent of Son Corporation's common stock on January 1, 2016, for $420,000 cash. The stockholders' equity of Son at this time consisted of $300,000 capital stock and...
SpectroGlass Company manufactures glass for office buildings in Arizona and Southern California. As a result of age and wear, a critical machine in the production process has begun to produce quality...
On May 21, 2004, the National Center for Chronic Disease Prevention and Health Promotion, the Centers for Disease Control and Prevention, reported the results of the Youth Risk Behavior Surveillance...
What is a new-venture team?
Put yourself in Marleys place and prepare a report on your findings. Specifically, you are required to do a manual MRP explosion for the side lamps and headlamps for the next 6 weeks (beginning with...
Duncan's Diamond Bit Drilling Corporation (Duncan) purchased the following assets in 2023. Assume its taxable income was $60,000 for purposes of computing the 179 expense deduction. Asset Purchase...
As at 30 June 2012 an amount of 24,500 owed to City Stores is reported in the Trade payables control account and 7,200 due from the same party reported in the Trade receivables control account,...
Simons year-end Trial Balance (with other items reported in summary) is shown below. Although the totals on both sides of the Trial Balance are the same, the sum of the list of individual trade...
The Houhora site in Northland (top of North Island) New Zealand is one of the sites of early human inhabitation that New Zealand archeologists have investigated, in trying to determine when the...
It is reported that the late senator, vice president, and presidential candidate Hubert Humphrey once said, Compassion is not weakness, and concern for the unfortunate is not socialism. How might...
The General Social Survey asked a sample of adults how many siblings (brothers and sisters) they had $(X)$ and also how many children they had $(Y)$. We show results for those who had no more...
If two identical first order stable low pass filters are cascaded non-interactively, then the unit step response of the composite filter will be (a) critically damped (b) overdamped (c) underdamped...
Write the negation of each statement. a. The processor is fast but the printer is slow. b. The processor is fast or else the printer is slow. c. If the processor is fast, then the printer is slow. d....
A closed-loop system is shown below. The noise transfer function $\frac{C_{n}(s)}{N(s)}\left[C_{n}(s)= ight.$ output corresponding to noise input $\mathrm{N}(\mathrm{s})$ ] is approximately: (a)...
In 2016, Lee Inc. billed its customers $62,000 for services performed. The company collected $51,000 of the amount billed. Lee incurred $39,000 of other operating expenses on account. Lee paid...
Determine by direct integration the values of x for the two volumes obtained by passing a vertical cutting plane through the given shape of Fig. 5.21. The cutting plane is parallel to the base of the...
Holly inherited $10,000 of City of Atlanta bonds in February. In March, she received interest of $500, and in April she sold the bonds at a $200 gain. Holly redeemed Series EE U.S. savings bonds that...
Tim retired during the current year at age 58. He purchased an annuity from American National Life Company for $40,000. The annuity pays Tim $500 per month for life. a. Compute Tims annual exclusion....
Beth retires when she turns 65. She begins receiving a monthly pension of $300 from her employers qualified retirement plan. While employed, Beth contributed $13,000 to the plan. a. Beth uses the...
The following portfolio has 50% in stock A and 25% in each of stock B and C. What is the portfolio expected return and portfolio variance and standard deviation? State of Economy Probability of State...
Consider a European call option on a non-dividend-paying stock. The strike price is S. The expiration date is T. The current price of the stock is Ko. The price of one unit of a zero-coupon bond...
Russell and Charmin have current living expenses of $81,700 a year. Estimate the present value amount of income they will need to maintain their level of living in retirement. Assume an average tax...

The periodical totals of the Returns Inwards Day Book are: (a) Debited to the Trade receivables control

Question:

Step by Step Answer:

b Credited...View the full answer

Financial Accounting An Introduction

Students also viewed these Business questions