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Why are transactions recorded in the journal?   Group of answer choices To ensure that total debit equal total credits To help prepare the financial statements To ensure that all transactions are posted to the ledger To have a chronological record of all transactions

Your assistant prepared the following bank reconcillation statement. It appears that the statement Is unacceptable and the task of preparing a proper reconcilation falls upon you. Brandon Company Bank Reconciliation May 31, 2020 Balance per books May 31 $ 9,500 Add: Electronic Fund Transfer $ 1,060 Deposit in transit 2,455 3,515 $13,015 Deduct: Bank charges NSF cheque, Rhonda Teal Outstanding cheques Error in cheque #78: correctly issued and processed by the bank for $762, but incorrectly recorded in the books as $726 (Accounts Payable-Delta Co.) 10 500 1, 8ee 36 2,346 $10,669 9,359 Indicated bank balance Balance per bank statement Discrepancy $ 1,310

Make all the journal entries necessary to record the transactions above using appropriate dates.

Posting:a. involves transferring the information in journal entries to the general ledger.b. is an optional step in the accounting cycle.c. is performed after a trial balance is prepared.d. involves transferring information to the trial balance.

Instructions Adele Corp., a wholesaler of music equipment, issued $31,400,000 of 20-year, 5% callable bonds on March 1, 20Y1, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions Refer to the Chart of Accounts for exact wording of account fifles 20Y1 Mar. Sept. 20Y5 Sept. Chart of Accounts Journal 1 Issued the bonds for cash at their face amount. Paid the interest on the bonds 1 1 Called the bond issue at 103, the rate provided in the bond indenture. (Omit entry for payment of interest.) X

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In Chapter 11, the first step of the computer accounting cycle is to:   Question 26 options:   Post entries to the general ledger   Set up a business and select a chart of accounts   Journalize entries   Change accounting periods   Print the general ledger trial balance

Subject: accounting

Post these transactions from each General Journal into the General Ledger accounts.   When posting transactions to the general ledger, use the transaction letters a, b, c, d, or e as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie, 15/Jan).

Question 6 of 20: Select the best answer for the question. 6. To determine the effects of an entire accounting transaction, you would consult the accounting record called the A. journal O B. register. C. T-account O D. ledger Mark for review (Will be highlighted on the review page) << Previous Question Next Question

Put the following accounting cycle transactions-recording processes in order by selecting the corresponding sequence number of each activity  Group of answer choices Journalize external business transactions                                                                                                                                                                         Post closing entries to the general ledger (T-accounts)                                                                                                                                                                         Prepare the adjusted trial balance                                                                                                                                                                         Journalize closing entries…

Which of the following steps in the accounting cycle comes before posting entries to accounts? Journalize closing entries. Analyze transactions. Prepare reports. Prepare post-closing trial balance.

Directions: USE THE NUMBERS 1-10 TO PLACE THE FOLLOWING STEPS OF THE ACCOUNTING CYCLE IN THEIR PROPER ORDER, 1 BEING THE FIRST IN ORDER, AND 10 TO THE LAST.  A. Analyze business transactions                 F. Journalize/post-closing entries B. Collect/verify source documents             G. Post journal entries C. Complete the worksheet                         H. Prepare financial statements D. Journalize business transactions              I. Prepare a post-closing trial balance E. Journalize/post adjustments                    J. Prepare trial balance