a. Post the Transactions to T-Account b. Prepare a Trial Balance

Q: Describe an account and its use in recording transactions.

A: Accounting reports are papers and books used to manage records.

Q: All transactions entered in this window result in a debit to the Accounts Receivable account. a.…

A: In quickbooks all transactions entered in invoice window result in a debit to the Accounts…

Q: Posting in the ledger should include all of the following except a. the amounts b. a brief…

A: Answer -  The correct Option is - d. the accounts affected.   Ledger is a book which contains, in a…

Q: The subsidiary ledger that includes customer account activity is called the a. asset ledger b.…

A: Under subsidiary ledger, all activities related to customer is recorded.

Q: trial balance

A: The trial balance shows the account list of the general ledger that states the ledger of the…

Q: involves checking the mathematical accuracy of documents.

A: Inquiry :- Inquiry means written or oral responses made by the management.    Analytical Procedure:…

Q: What is used in preparing trial balance? a. Ledger Accounts. b. General Journal. c. Specialized…

A: Trial balance is something which is usually prepared to verify if the debits in the books are equal…

Q: The order of the steps in the recording process is: O post to the ledger, journalize and analyze. O…

A: In accounting, the recording process starts with analyzing the transactions about the nature, the…

Q: Which of the followings is / are part of the recording process ? The answer is A. Analyzing…

A: Journals are the first step of the accounting cycle process, under which for each transaction, at…

Q: s with a common characteristic, the total of which should equal the balance in the related ly known…

A: Control ledger is a summary account of individual accounts. It helps to keep track of the individual…

Q: Which of the following events would be LEAST likely to be modeled in an REA diagram?a. customer…

A: Definition: REA model: The graphical representation which shows the re-engineered accounting system…

Q: Why is it important to verify if the activity on the trial balance equals the activity per the…

A: The activity in the trial balance means the accounts listed on the both side of trial…

Q: Where are transactions initially recorded?

A: The primary point where the financial transaction, which is initiated or effected by entity during a…

Q: Describe a ledger and a chart of accounts

A: T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this…

Q: b. footing c. slide d. transposition 8. a. ledger balance sheet b. c. journal d. trial balance is a…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Documentary evidence of transaction is called as O a. voucher O b. chart of accounts O c. invoice O…

A: Invoices is commercial document issued by a seller to the buyer in connection with a sale…

Q: What is keying? Im O Sorting account balances from the adjusted trial balance to their proper…

A: In Accounting there are adjustment entries which  are usually done at the end of accounting year  to…

Q: . Checking vouchers for details of a business transaction can be related to A) Trial balance…

A: In accounting, we use simple evaluations to identify and analyze transactions. To identify a…

Q: A summarized record of all the transactions relating to a particular account is called as a. balance…

A: We know, All the transactions happening are recorded in the Journal as they happen. All of these…

Q: Which of the following statements is not correct? O A trial balance would help in detecting an error…

A: The correct sequence of the recording process is: analyzing, journalizing, and then posting to the…

Q: 4 t of estion The final step in the recording process is to Select one: a. enter the transaction in…

A: We know the first step in accounting is to record the transaction in journal. hence all journal…

Q: A date-wise record of transactions expressed as debits and credits to accounts is provided by

A: The answer is Option (a.) Journal

Q: After analyzing transactions, the next step would be to post the transactions in the ledger. True…

A: Posting of transactions in the ledger can be done after their recording the journal.

Q: A debit to an expense account O directly affects the Owner's Drawings account. O decreases owner's…

A: In accounting, expenses are the money/cost incurred by a firm to generate revenue. In other words,…

Q: Provide the proper format for recording a transaction.

A: Journal: Recording of a business transactions in a chronological order is called journal.

Q: The process of posting is the transfer of debits and credits from the O a. T accounts to the…

A: The process of preparation of Final accounts is: Preparing Journal Entries against Transactions.…

Q: Prepared a trial balance

A: Adjusted Trial Balance is prepared after adjusting the adjustment entries to the respective account…

Q: The next step after the preparation of ledger is

A: General ledger can be defined as the second process in the accounting cycle, where the closing…

Q: Differentiate general journal from a ledger. 2. Is every transaction posted immediately to the…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: . Master Supervisor E. Comptroller . Master Administrator What account type is considered a…

A: Correct option is (D) Master administrator. Master administrator is a person who is also known as…

Q: It is prepared with an objective to test the arithmetic accuracy of the accounts a. Ledger b. Books…

A: The transaction recording is a process in which various steps are involved. Like recording the…

Q: If the company has a multiple trasactions, what ledger should you post the trasaction?

A: Financial accounting involves recording of financial transactions of a firm during the accounting…

Q: Transactions are first recorded in a O A. ledger O B. journal O C. trial balance O D. chart of…

A: The transaction, which is measurable in monetary terms, is an economic event with a third party…

Q: Explain General Journal, Ledger and trial balance.

A: Entries represent the transactions or events reported by the corporation from its day-to-day…

Q: Before processing a batch of invoices, the accounts payable clerk sums the quantities billed. The…

A: Accounts payable forms a part of current liabilities of the business and represent the amount due to…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.