Answered: What is the correct source documents…

Name: Question: 1. What is the correct source documents for direct deposit
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Question: 1. What is the correct source documents for direct deposit by customer of business. 2. What is the correct source documents for owner of business takes goods from the business for his own use. reqiured: please answer this question by givin

Business

Accounting

What is the correct source documents for direct deposit by customer of business.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 3MC: If a customer pays with a credit card and the service has been provided, which of the following...

See similar textbooks

Similar questions

What specific accounts are recognized when a business purchases equipment on credit?
Which two accounts are used to recognize shipping charges for a buyer, assuming the buyer purchases with cash and the terms are FOB Shipping Point? A. delivery expense, cash B. merchandise inventory, cash C. merchandise inventory, accounts payable D. The buyer does not record anything for shipping since it is FOB Shipping Point.
Question: 1. what is the correct source documents for owner of business X took goods from the business for his own use. option: a) invoice issued by business X . b) Receipts issued by business X. c) Bank credit advice. d) internal memo. e) cash sales slip. f) Cheque butt . h) credit note issued by business X. reqiured: please answer this question by choosing the right source document.
Which of the following transaction will be correct in regards to Source document of a Business? a. cash received from customer will be recorded in cash disbursement journal b. Credit Purchase will be recorded in Purchase day book c. Cash paid to supplier will be recorded in a cash receipt journal d. Goods returned to supplier will be recorded in sales journal
Using the following invoice answer the following questions. 1. How would this transaction be journalized by the seller? Identify the accounts, the amounts and whether the entry is a debit or credit. 2. What journal should the seller use for this transaction? EXPLAIN. 3. What is the business name of the vendor (seller)? How do you know this? 4. What is the business name of the merchandiser (buyer)? How do you know this? 5. P.O. Number stands for Purchase Order Number. What is a purchase order? Which part, buyer or seller, typically creates the purchase order? 6. Freight designation is F.O.B. Destination. Who is responsible for paying the shipper? 7. Explain what the terms of sale 2/10, n/30 represents? 8. If the merchandiser pays within 10 days of the invoice date how much will they actually pay? Explain your answer. 9. Explain why the merchandiser is not paying sales tax. 10. What information from this invoice would be entered in the Source Document column of the journal?…
What is the totals credits and total debits? Also answer the following questions: Answer the following questions using the area provided. 1) Describe the type of transaction that is recorded in the Sales journal. What is happening and who is involved? 2) When merchandise is sold on account what account is debited? What type of account is this and what does it reflect 3) Why is Sales Tax Payable considered a liability to the business? 4) Why would the business want to record the customer name in the sales journal Account Debited column?
Multiple choice: A sale is recognized and recorded in the accounting records at the time: A. services are rendered or goods are delivered. B. payment is made by check or cash. C. The invoice is delivered to the customer. D. the customer's check or credit card clears.
Question: 1. What is the correct source documents for credit purchase by business. 2. what is the correct source documents for bank charges from business bank account. reqiured: please answer this question by giving one of the correct source documents for this two questions.
What is the main purpose of accounts receivable in factoring? a. To meet immediate cash needs of the business b. To create an additional guarantee of collection c. To invest accounts receivable in another business d. To establish a legal proof for future use
Which of the following is NOT a financial transaction? a. purchase of products b. cash receipts c. update valid vendor file d. sale of inventory
Which of the following is an agent in a purchases and payments structure model? Question 6Answer a. Cash disbursement b. Inventory c. Employee labour d. Supplier e. Receipt of goods
If a customer pays with a credit card and the service has been provided, which of the following accounts will be used to record the sales entry for this transaction? Elaborate in your response asides from choosing the correct choice. A. Cost of Goods Sold, Merchandise Inventory, Sales Revenue B. Sales Revenue, Credit Card Expense, Accounts Receivable C. Accounts Receivable, Merchandise Inventory, Credit Card Expense D. Cost of Goods Sold, Credit Card Expense, Sales Revenue