Question: 18. If a new account is created while entering a purchase, which account type is selected by default? (on the quickbook) a. Bank b. Payable

18. If a new account is created while entering a purchase, which account type is selected by default? (on the quickbook)

a. Bank

b. Payable

c. Inventory

d. Expense

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

The first-order reaction A B with k = 0.8 min1 is carried out in a real reactor with the following RTD function: The Hemi or half circle curve is drawn touching the horizontal axis between the...

Q:

18. If a new account is created while entering a purchase, which account type is selected by default? Bank Payable Inventory Expense

Q:

MULTIPLE CHOICE QUESTIONS 1) What is the initial default date for transactions when a company data file is opened? a. The source document date b. The current computer dates c. The date of the last...

Q:

Chapter 3 1. Which of the following transactions would typically be recorded in the QuickBooks general journal? a. Purchase of office supplies b. Year-end adjustment for depreciation on equipment c....

Q:

1- Which of the following could you use to access the General Journal from the Chart of Accounts? a. Select the account and choose General Journal from the View menu b. Highlight an account and...

Q:

Looking for a solution to the following: 3 4 Week 1 Date Transaction description 1 Obtained a loan of $52,000 from ZNZ Bank at a simple interest rate of 6% per year. The first interest payment is due...

Q:

Looking for a solution to the following: 3 4 Week 1 Date Transaction description 1 Obtained a loan of $52,000 from ZNZ Bank at a simple interest rate of 6% per year. The first interest payment is due...

Q:

Now that you have reviewed information about Disc-O-Tech, you are ready to begin the first step in the accounting cycle, recording transactions. On this page of the practice set, you are asked to...

Q:

Bank reconciliation Now that you have completed the end of month posting procedure, you are required to prepare a bank reconciliaton as at June 30, 2020. Your progress The purpose of the bank...

Q:

i am stuck on this set of problems, i would like more detail on how you come to the conclusion of the accounts and why. Ive never gotten an explantion as of why im getting some wrong so any help...

Q:

Week 5 Date Transaction description 29 Bovine & Hobbitson paid the full amount owing on their account. (5,805 ) 29 Made cash sale of 44 boxes of copies of NYE 1983 for $420 each plus 5% sales tax. 29...

Q:

Macon Farms raises peaches that, at harvest, are separated into three grades: premium, good, and fair. Joint cost is allocated to products based on bushels of output. The $337,500 joint cost for one...

Q:

Multiple Choice Questions, 1. After massive promotion of Justin Bieber's latest music album, the producers reacted by raising prices for his albums. This implies that promotion expenditures made the...

Q:

If f ( x ) = ( x ) / ( 6 x + 5 ) , then the domain of f includes all real numbers except x

Q:

Discuss several ways ( at least four ways ) to improve the requirement process and thus, a project team can avoid a situation where too many changes to the project requirements occur at the later...

Q:

1 To what extent do you think FedExs approach is likely to be effective in establishing positive psychological contracts with its workers? FedEx is the leading international package delivery and...

Q:

1 I f you were an employee in Komatsu, would you subscribe to the Komatsu Way? Komatsu, the worlds second largest manufacturer of earth- moving equipment, faced a number of issues as it sought to...

Q:

2 FedEx is a logistics company, operating on an international basis. To what extent do you think its approach could be taken up by companies in other sectors, such as manufacturing, or knowledge-...