Cash disbursement journal - Study guides, Class notes & Summaries

Final SUA Review Adjusting entries are prepared for which of the following a. record depreciation expense b. adjust payroll expense for wages earned but not yet paid c. record an inventory purchase d. a and b only - correct answer d. in the cash disbursements cycle, the vendor invoice is marked paid when a check is issues in order to a. avoid duplicate payment b. file the invoice alphabetically c. make the necessary entry in cash disbursement journal d. indicate the purcha...

WGU D217 Accounting Information Systems Quizzes Which of the following is a problem usually associated with the flat-file approach to data management? -data redundancy Which problem is characteristically associated with the flat-file approach to data management? - the inability to determine what data is available A description of the physical arrangement of records in the database is -the internal view. Which of the following may provide many distinct views of the database? -the user vie...

with managing the segment of the expenditure cycle that involves payments to vendors and creditors. The purpose of the sales invoice is to - ANSWERS,The purpose of the sales invoice is to bill the customer. The sales invoice will be sent to the customer for payment. At the same time the invoice will also update inventory, send a journal to the general ledger, and record the sales journal. Which type of control is considered a compensating control for customer payments? - ANSWERS,Supervi...

Lack of segregation of duties among those completing checks, recording checks, signing checks, and reconciling bank statements - answer-Which of the following risks allows the perpetrator to hide the theft in the accounting records? a. Checks issued payable to cash b. Lack of segregation of duties among those completing checks, recording checks, signing checks, and reconciling bank statements c. Lack of matching documentation d. Checks made payable to authorized signer Checks created a...

Maintain function on the menu bar is used for correct answers Entering information The task function on the menu bar is used for correct answers Entering transactions All ID codes in sage are correct answers Case sensitive The reasons that you back up your data in sage 50 is all but which of the following? correct answers To save your transaction as you enter them Which of the following is not a purpose of the chart of accounts correct answers To prove debits equals credits Why is...

NJ CALA FInanceCash Basis Accounting - correct answer Keeping records that shows only income actually received during a fiscal period and only expenses paid during a fiscal year. *Record income when cash or check is received *Record expense when check is written Accrual Basis Accounting - correct answer Keeping records that show all income earned during a fiscal period even though it isn't received yet and all expenses incurred during a fiscal period even though the expenses are not yet pa...

SUA Exams and QuizzesIn the seven step-process for recording a transaction, the second step is finding the appropriate flowchart - correct answer T Nancy Ford is an hourly employee - correct answer T If you have a NO symbol on your transactions list document (on the left), you don't have to do an accounting entry. - correct answer F Assets recovery cycle, is one of the three cycles that will be completed in SUA - correct answer F One of the special journals provided to you is the Ac...

Bookkeeping - ANSWER-the activity of recording business transactions Double-entry bookkeeping - ANSWER-a system of recording and classifying business transactions that maintains the balance of the accounting equation General ledger - ANSWER-the ledger that contains all of the financial accounts of a business Cash receipts journal - ANSWER-a special journal used to record ONLY cash receipt transactions Cash disbursement journal - ANSWER-is a chronological listing of all payments SO...

Bookkeeping Ch 1-6 Bookkeeping - Answer- the activity of recording business transactions Double-entry bookkeeping - Answer- a system of recording and classifying business transactions that maintains the balance of the accounting equation General ledger - Answer- the ledger that contains all of the financial accounts of a business Cash receipts journal - Answer- a special journal used to record ONLY cash receipt transactions Cash disbursement journal - Answer- is a chronological li...

Cash Basis Accounting - ANSWERKeeping records that shows only income actually received during a fiscal period and only expenses paid during a fiscal year. *Record income when cash or check is received *Record expense when check is written Accrual Basis Accounting - ANSWERKeeping records that show all income earned during a fiscal period even though it isn't received yet and all expenses incurred during a fiscal period even though the expenses are not yet paid *Record income when a bill is...