Date 2021 April 6 Cash Account Titles and Description Dr. 52.000.00 PR Cr. A. Kingston, Capital Cash investment 52,000.00 Equipment Cash Accounts Payable Purchase of equipment 30,000.00 10,000.00 20.000 .00

Q: When does an accounting information system becomes useful?  What is the relevance of having…

A: 1.When does an accounting information system becomes useful? 2. What is the relevance of having…

Q: Discuss what each ledger is used for and when it is used: 1. General Ledger 2. Payables ledger 3.…

A: The ledgers are prepared as posting the transactions from the journal book.

Q: How do the opening balances and ending balances look like in a general ledger? Please provide an…

A: Basically 'General Ledger' is a summary of various number of business transactions. All transactions…

Q: If a credit is issued to a Vendor, how will this affect the General Ledger Account?

A: General ledger account: It implies to the main component or part of general ledger maintained by the…

Q: Can you provide steps in completing a check register for accounting?

A: Check register refers to the checkbook register which usually records the financial transaction done…

Q: What are the purpose of subsidiary ledger

A: Solution:- Introduction:- Subsidiary ledger gives the details that make up the balance of specific…

Q: What is a double-entry bookkeeping system?

A: The accounting is a process to classify the transactions, record the transactions and prepare the…

Q: Why is it important to keep those business receipt/record

A: Any business in any form or in any industry that is doing commerce or trade will have receipts and…

Q: Name the two types of ledgers.

A: Two types of ledgers are: General ledger Subsidiary ledger

Q: WHAT IS A DISTRUBUTED LEDGER?

A: A distributed ledger is a digital record of transactions that is shared across a network of…

Q: What does a ledger show? What’s the difference between a ledger and the chart of accounts?

A:

Q: What is a ledger?

A: Accounting: Accounting can be defined as the process of identifying the business transaction,…

Q: what is Debit balance and Credit balance in ledger?

A: Introduction: A ledger account is a record of commercial transactions. It is a discrete record…

Q: How a General Ledger Works With Double-Entry Accounting

A: The Double Entry Accounting basically consists of a cycle that starts with recording and ends till…

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: What is an account and how is it related to the ledger?

A: Accounting is the process of identifying, recording, classifying and summarising accounting…

Q: How is Accounts Receivable audited?

A: Accounts receivable is one of the largest assets that a company has; therefore auditors tend to…

Q: What is the definition of bookkeeping?

A: Bookkeeping is considered as a part of accounting. It deals with the recording of day-to-day…

Q: Are purchasing and receiving functions separate from invoiceprocessing, accounts payable, and…

A: Invoice processing: It is a procedure to maintain the invoices of the organisation to ensure timely…

Q: How many account management in accounts

A: The accounting process includes the bookkeeping process which involves the journal entry of the…

Q: How receivables ledger works with double entry accounting

A: A Receivable ledger is a fundamental tool for managing a company's credit sales and ensuring that it…

Q: Importance and use of bookkeeping?

A: Double-entry bookkeeping system: The double-entry bookkeeping system by its name implies that there…

Q: In the sales/OE system, when a customer's order is entered into the system, and before accepting the…

A: Every entity before accepting the order from the customer needs to check the master data. It…

Q: Explain the difference between the general ledger and a subsidiary ledger.

A: Ledger is a book where the journal entries recoded are posted. All the transactions in a ledger are…

Q: What would the Accounting Memo and Email to Client look like?

A: When the merchandise is sold, the company estimates the possible returns and accordingly provides…

Q: What columns are included in a typical ledger format?

A: Ledger indicates the posting of entries from the journals in their respective categorized accounts…

Q: How to write a ledger

A: An accounting ledger is a bookkeeping account or record that keeps track of activities on the…

Q: what is procedure to posting account receivable ledger and inventory system . Explain with entry

A: Accounts receivable ledger shows the balances of the debtors to whom the stocks were Sold on credit.…

Q: What is the purpose of a bookkeeping system?

A: This question explains about the purpose of a bookkeeping system