What are the major advantages of the use of special journals?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (6 reviews)
Special journals efficiently summarize a large number of similar transactions Th...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Accounting questions
-
What are the major advantages of leasing a fixed asset rather than purchasing it?
-
What are the major advantages of dollar-value LIFO?
-
What are the major advantages of using EVM as a project control mechanism? What do you perceive are its disadvantages?
-
Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 Current...
-
A house painting business had revenues of $16,000 and expenses of $9,000. There were no depreciation expenses. However, the business reported the following changes in working capital. Beginning End...
-
The following selected transactions relate to liabilities of United Insulation Corporation. United's fiscal year ends on December 31. 2024 January 13 Negotiated a revolving credit agreement with...
-
Table B. 25 contains the golf data on strokes gained. Use all possible regressions to build a model for these data. Perform a residual analysis on the final model and comment on model adequacy. SG:...
-
Air travel on Mountain Airlines for the past 18 weeks was: a. Explain why an averaging technique would not be appropriate for forecasting. b. Use an appropriate technique to develop a forecast for...
-
Explore the type of accounting system used in selected organizations in Jamaica. a . Create an instrument to conduct an interview with an accounting officer within the selected organization to obtain...
-
Looking for the excel function in Yellow on Q9 Question 9 Annual 3.000% Semi-Annual 3.022% Quarterly 3.034% Monthly 3.042% 4 points Question 10 14.2 14.2 4 points 9) After reviewing the compounding...
-
Suspicions Company is an investigative services firm that is owned and operated by Curtis Graves. On November 30, 2010, the end of the current fiscal year, the accountant for Suspicions Company...
-
In recording 400 fees earned on account during a single month, how many times will it be necessary to write Fees Earned (a) If each transaction, including fees earned, is recorded individually in a...
-
You are provided with the following balance sheet information and summarized income statement for Katrime Ltd.: All sales are credit sales. Accounts payable pertains exclusively to the purchase of...
-
Noelia works on the assembly line for Frozen Foods. Noelia and other Frozen Foods employees designate the International Union of Food Workers (IUFW) as their bargaining representative. Without...
-
Ulrich is a general partner and Lee and Carol are limited partners in GLC Associates, a limited partnership. Lee and Carol a. have fewer managerial powers than Ulrich. b. cannot sue on behalf of the...
-
In terms of a security agreement, what constitutes default?
-
Tabina and Adam are the directors and majority shareholders of U.S. Imports, Inc., and Overseas Corporation. U.S. Imports owes $5,000 to International Transport, Inc. To avoid the debt, Tabina and...
-
Odette believes that the Power Utility Corporation (PUC) discriminated against her on the basis of race. She files a suit against PUC under Title VII. To establish a prima facie case of employment...
-
In Figure P16-15, the three load impedances are \(Z\) \({ }_{1}=20+j 15 \Omega, Z_{2}=25-j 10 \Omega\), and \(Z_{3}=75+j 50 \Omega\). Use MATLAB to solve for the three currents...
-
For the data in Exercise 17-19, use the FIFO method to summarize total costs to account for, and assign these costs to units completed and transferred out, and to units in ending work in process....
-
What are some of the benefits and drawbacks for the method for handling missing data that chooses values at random from the variable distribution?
-
You are provided with the following information taken from Washburne Inc.s March 31, 2012, balance sheet. Cash ..................... $ 11,000 Accounts receivable ............... 20,000 Inventory...
-
Austin Corporation prepares monthly cash budgets. Here are relevant data from operating budgets for 2012.. All sales and purchases are on account. Budgeted collections and disbursement data are given...
-
Fetter Company is a very profitable small business. It has not, however, given much consideration to internal control. For example, in an attempt to keep clerical and office expenses to a minimum,...
-
can anyone let me know what the capital and non-capital purchases would be from the cash book records Ben's Bookkeeping Cash Receipts Journal GST Other receipts Date Rec no. Particulars Bank...
-
When assessing a foreign country, market managers have to evaluate how feasible it is to target the market. What are marketing model drivers and enabling conditions? Briefly explain using the example.
-
The firm is looking to invest (in Year 0) in the design and development of an e-bike docking station for which a Return on Investment (ROI) of 30% is desired by the firm which anticipates an annual...
Study smarter with the SolutionInn App