a . List the steps to record transactions in the purchases journal. b . Bank service charges
Question:
a. List the steps to record transactions in the purchases journal.
b. Bank service charges are automatically deducted from the bank account. Why are these charges recorded in the cash payments journal?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
a The steps to record transactions in the purchases journal are as follows 1 Date ...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
a . List the steps to record transactions in the sales journal. b . What are the source documents for transactions recorded in the cash receipts journal?
-
a . What information does a bank statement contain? b . List the steps to reconcile a bank statement.
-
If bankcard fees are automatically deducted from the checking account of a business, how will the bookkeeper journalize the fee? a. Capital account is increased by the amount of the fee. b. Cash...
-
What is the effect of a viscosity (competence) difference between strain markers and the matrix?
-
Adaptive Expectations and Oil Price Instability: We mentioned in the text that trading across time is similar to trading across space in that individuals find opportunities to buy low and sell high....
-
Answer the following questions. 1. A company has an inventory of 1,300 assorted parts for a line of missiles that has been discontinued. The inventory cost is $71,000. The parts can be either (a)...
-
The Meyers Pharmaceutical Company, a drug manufacturer, has the following system for billing and recording accounts receivable: 1. An incoming customer's purchase order is received in the order...
-
Gonzales Manufacturing Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. Instructions(a) Compute the missing...
-
1) If a company has fixed costs of $6,000 per month and their product that sells for $200 has a contribution margin ratio of 30%, how many units must they sell in order to break even? 2) A company...
-
1. In what way(s) has Ken Frazier demonstrated his effectiveness as a crisis leader? 2. Given our discussion on the distinction between a traditional and learning organization, what type of...
-
Write the letter for the correct journal used to journalize each transaction. a. Purchases Journal b. Cash Receipts Journal c. Cash Payments Journal d. General Journal e. Sales Journal Purchased...
-
a . What are the source documents for the purchases journal? b . What are the source documents for the cash payments journal?
-
A worker synthesizes aspirin, C9H8O4, according to this chemical equation. If 12.66 g of C7H6O3 are reacted and 12.03 g of aspirin are isolated, what are the theoretical yield and the actual yield?...
-
A ____________________, or person who agrees with the dissenting viewpoint, is likely to reduce conformity.
-
A person shown a picture and asked to make up a story about it would be taking a __________personality test.
-
According to Vygotsky, information that is within a childs __________ __________ __________ __________is most likely to result in cognitive development.
-
According to Freud, people use __________ __________as a means of preventing unwanted impulses from intruding on conscious thought.
-
Kathy is terrified of elevators. She could be suffering from a(n) a. Obsessive-compulsive disorder b. Phobic disorder c. Panic disorder d. Generalized anxiety disorder
-
Shaquille Corporation has operating income of $1.7 million, a loss on write-down of inventory of $200,000, and income tax expense of $425,000 for the year ended December 31, 2018, before considering...
-
What are the typical record-at-a-time operations for accessing a file? Which of these depend on the current file record?
-
Goodrich Corporation uses the calendar year as its tax year. It acquires and places into service two depreciable assets during 2017: Asset #1: 7-year property; $950,000 cost; placed into service on...
-
On March 1, 2017, Sarah entered into a three-year lease of an automobile used exclusively in her business. The automobiles FMV was $58,500 at the inception of the lease. Sarah made ten monthly lease...
-
Woburn Corporation uses the calendar year as its tax year. Woburn purchases and places into service $850,000 of depreciable property during 2017: _________________________ Cost Recovery...
-
Where is supply more elastic, Las Vegas or San Francisco? In 2009 a popular proposal to deal with the fall in housing prices was for the federal government to raise the demand curve for houses by...
-
The following trial balance of Bramble Traveler Corporation does not balance. Bramble Traveler Corporation Trial Balance April 30, 2025 Debit Credit Cash $6,221 Accounts Receivable 5,350 Supplies...
-
3) Kyle's Gaming Services showed the following adjusted trial balance on September 30, 20XX. (10 MARKS) Debit Credit Cash 32,500 Accounts Receivable 14000 Prepaid Insurance 5,500 Gaming Equipment...
Study smarter with the SolutionInn App