Cash disbursement journal - Study guides, Class notes & Summaries

Bookkeeping Basics Questions with Certified Solutions What is a cash disbursement journal used for? A cash disbursement journal records all payments made in cash, including payments to suppliers, employees, and other expenses. How do you handle unrecorded transactions? Unrecorded transactions are identified and entered into the journal and ledger to ensure all financial activities are accurately reflected in the records. What is the purpose of a purchase journal? A purchase j...

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 view The update anomaly in unnor...

Bookkeeping Ch 1-6 Questions With Solutions 100% Correct Bookkeeping the activity of recording business transactions Double-entry bookkeeping a system of recording and classifying business transactions that maintains the balance of the accounting equation General ledger the ledger that contains all of the financial accounts of a business Cash receipts journal a special journal used to record ONLY cash receipt transactions Cash disbursement journal is a chronological listing of all payme...

Final SUA Review Question and answers already passed 2023/2024Adjusting 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 d...

Net Pay -:- what you take home after taxes Steps in the Accounting Cycle -:- Analyze, Record, classifies, summarizes, reports, interprets common special journals -:- 1. sales journal 2. cash receipts journal 3. purchase journal 4. cash disbursement journal GAAP -:- Generally Accepted Accounting Principles Gross Profit Formula 2 0 2 4 / 2 0 2 5 | © copyright | This work may not be copied for profit gain | Excel! 2 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 -:- net sales -...

Cash Basis Accounting : 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 : 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 paid *Record income when a bill is writt...

Credits - ️️An entry made on the right side of the account Operating Expenses - ️️resident care, plant operations, dietary, housekeeping, laundry, general & admin, depreciation, interest, total operating expenses Double Entry Accounting - ️️Recording of a debit and credit for each transaction **Debits must always equal credits** Debits - ️️An entry made on the left side of the account Journals - ️️The organization's "books" where transactions are first recorded befor...

a jv is created when it is necessary to request adjustment of accounting entries transfer funds from one gl account to another Reconciling the Army's cash account with the U.S. Treasury is a critical aspect of maintaining the Army's General Fund GL and fund balance with the U.S. Treasury true Which of the options below provides a uniform COA and technical guidance to be used in standardizing federal agency accounting? USSGL None of the above Activities involved in the...

NJ CALA Finance Cash 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 ...

NJ CALA Finance Exam Questions and Answers 100% Correct Score Cash 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 incurr...