100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Bookkeeping Basics - Accounting Cycle (Part 1) Assessment (2024 / 2025) Questions and Verified Answers, 100% Guarantee Pass $12.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. Bookkeeping
  4.  
  5. Bookkeeping

Exam (elaborations)

Bookkeeping Basics - Accounting Cycle (Part 1) Assessment (2024 / 2025) Questions and Verified Answers, 100% Guarantee Pass
 1 view  0 purchase
  • Course
  • Bookkeeping
  • Institution
  • Bookkeeping

Bookkeeping Basics - Accounting Cycle (Part 1) Assessment (2024 / 2025) Questions and Verified Answers, 100% Guarantee Pass

Preview 2 out of 6  pages

Document information

  • August 28, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • Bookkeeping
  • Bookkeeping

Seller

avatar-seller
TIPSCORE

Reviews received

Content preview

Bookkeeping Basics - Accounting Cycle (Part 1) Assessment.pdf file:///C:/Users/HP/Desktop/pppppp/Bookkeeping%20Basics%20-%2




Bookkeeping Basics - Accounting Cycle (Part 1)


Assessment




1. A schedule that contains all accounts needed to prepare financial state- ments is


known as


ANS The General Ledger


2. Reorganizing journal entries and grouping them by account is known as


ANS -


Posting to the ledger


3. A listing of the names of the accounts that a company has identified and made


available for recording transactions in its general ledger is known as a


ANS Chart of Accounts


1/6




1 of 6 8/28/2024, 3:20

,Bookkeeping Basics - Accounting Cycle (Part 1) Assessment.pdf file:///C:/Users/HP/Desktop/pppppp/Bookkeeping%20Basics%20-%2




4. To find the balance of the account types that increase with a debit (asset and expense


accounts), bookkeepers will


ANS Subtract total credits from total debits (Debits - Credits)


5. The accounting cycle starts with the


ANS Analysis of business transactions


6. After analysis, the business transaction is recorded in the journal in


ANS -


Chronological order


7. A form or statement that lists the titles and balances of all ledger accounts at a given


date is known as


ANS Trial balance


8. Sydney is entering a transaction in QuickBooks. What are the two steps of manual


accounting that will happen simultaneously as she does this?


ANS Creat- ing a journal entry and posting to the ledger


2/6




2 of 6 8/28/2024, 3:20

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller TIPSCORE. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

71498 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.99
  • (0)
  Add to cart