Which task should the general ledger perform?a. update the general ledgerb. prepare journal vouchersc. have custody of physical assetsd. have record-keeping responsibility for special journals of subsidiary ledgers

Q: Mr. Saced started his business with cash Rs. 65,000, and Building Rs. 120,000 on Ist January, 2015.…

A: Capital introduced=Cash+building=Rs 65,000+Rs 120,000=Rs 185,000

Q: 29. On 8-17-XX, Judy purchased items for resale from Ralph's Pet Supply RALPH'S PET SUPPLY 454 8TH…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Le fol berio

A: Ledger or General Ledger is a secondary book of entry. From General…

Q: P4-5B Gillian Shaw opened Shaw's Carpet Cleaners on March 1. During March, the fol- lowing…

A: There are 3 Rules for passing Journal entries  Debit what comes in and credit what goes out Debit…

Q: Post to the ledger accounts.

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

Q: 1 Assume Mr. Ahmed is appointed as auditor of Alpha Company. He discovers that Alpha Company has…

A: Auditing means the independent checking of a company's operation by outsiders. The auditor is the…

Q: PROBLEM: Mr. Min Jimin established the MinJi Car Rental Services in August 1, 2021. During the first…

A: Accounting cycle is a cycle through which the process of accounting is performed and it includes…

Q: How could useful information " Relevant, Reliable, Complete, Timely, Understandable, Verifiable,…

A: The essentialness of financial reporting or preparation of the financial statements is justified…

Q: 1 Contributed K50 000 as initial capital and deposited this into the business bank account. 2…

A: The T-accounts are prepared to post the balances to specific accounts of the business.

Q: steps in posting from asales journal to an accounts receivable ledger

A: Sales Journal: A journal is a book of original entry where all journal entries are recorded on the…

Q: Record them in the Pats journal and ledger accounts and compile a trail balance.

A: Accounting is the process of recording financial transactions that are material to the business. It…

Q: What information is contained in the general ledger master file?

A: General Ledger:  The financial information required for the preparation of financial reports of…

Q: Describe the purpose of caash receipts journal.

A: The cash receipts journal is a special section of the general journal specifically used to record…

Q: Dec 6 ● ● Paid the November Utilities bill of $5,500 (this was already recognized as an expense in…

A: SJ (Sales Journal) - It records only those transaction wherein goods have been sold to customers on…

Q: A subsidiary ledger is a _________ . a. listing of the components of control account balances b.…

A: Solution: A general ledger have the balances for each asset, liability, and equity account. A…

Q: Prepare Jornal Entry and Ledger account. Attached Question and format of ledger

A:

Q: ow is forcasting part of the bookkeeping proces

A: Bookkeeping involves several tasks, including recording transactions, posting debits and credits,…

Q: What general ledger journal entries does the purchases system trigger? From which departments do…

A: Purchasing System: The identification and procurement of the inventory needs for the organization is…

Q: GENERAL JOURNAL Page 52 Post. Date Description Ref. Debit Credit 20-- August 16 Sales Returns and…

A: General Ledger: General Ledger, also known as the Nominal Ledger, is a central repository for…

Q: PREPARE THE GENERAL LEDGER

A: General ledger accounts are used to post recorded transactions into appropriate accounts. These are…

Q: What is the purpose of the general ledger history file?

A: General Ledger:   The financial information required for the preparation of financial report; of…

Q: Describe how accounts are used to record information about the effects oftransactions?

A: Firstly the transaction are recorded in the original books i.e. Journal, when the transactions are…

Q: Create a General Ledger.

A: In bookkeeping, a general ledger, is a bookkeeping ledger in which accounting data is posted from…

Q: What would the general journals (adjusting/closing/revising) look like? What about the general…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Explain the purpose of a journal and its relationship to the ledger.

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: a. Edward Wilson invested $8,000 cash in his new landscaping business. b. The business paid the…

A: Introduction: Ledger: Second step in the process of financial accounting is Ledger. After recording…

Q: Prepare the Following: Journal Entries and Ledger

A: Journal entries recording is the first step of accounting cycle process, under which atleast one…

Q: Mar. 1 Stockholders invested $50,000 cash in the business in exchange for common stock of the…

A: The journal entries are the financial records of the business transactions.

Q: What is a sub-ledger

A: Sub - ledger means as follows