BS
bradley suarez
Answers (6)
BS
Answered
Inventory becomes part of the cost of goods sold when a company
A) pays for the inventory.
B) purchases the inventory.
C) sells the inventory.
D) receives payment from the customer.
A) pays for the inventory.
B) purchases the inventory.
C) sells the inventory.
D) receives payment from the customer.
On Jul 19, 2024
C
BS
Answered
Discuss the process of posting from a revenue journal to the subsidiary ledger and to the general ledger.
On Jul 15, 2024
Each transaction is posted individually to customer accounts in the accounts receivable subsidiary ledger. This should be done on a regular basis to keep customer balances current.To provide a trail of the entries posted to the subsidiary and general ledgers, the source of the entries is indicated in the Posting Reference column by inserting the letter R for revenue journal and the page number of the revenue journal.A check mark is inserted in the Posting Reference column to indicate that the transaction has been posted to the subsidiary ledger.At the end of the month, the column total is posted to the general ledger as a debit to Accounts Receivable and a credit to Fees Earned. This total is equal to the sum of the month's debits to the individual accounts in the subsidiary ledger.
BS
Answered
If total assets increased by $190,000 during a specific period and liabilities decreased by $10,000 during the same period, the period's change in total owner's equity was a $200,000 increase.
On Jun 19, 2024
True
BS
Answered
All of the following EXCEPT ________ are important functions of a transmittal document in a formal report.
A) introducing the report
B) offering to provide additional information or assistance
C) authorizing the completion of the report
D) acknowledging help received while preparing the report
A) introducing the report
B) offering to provide additional information or assistance
C) authorizing the completion of the report
D) acknowledging help received while preparing the report
On Jun 15, 2024
C
BS
Answered
The personal assets liabilities and personal transactions of partners are excluded from the accounting records of the partnership.
On May 19, 2024
True
BS
Answered
What percentage of payroll do Canadian organizations typically pay for fringe benefits for their employees?
A) 20 percent
B) 25 percent
C) 30 percent
D) 35 percent
A) 20 percent
B) 25 percent
C) 30 percent
D) 35 percent
On May 16, 2024
C