you adjust a general jour deletes the original entry an . always includes the original complete audit trail E. includes the original and rev show Corrections d. renumbers the correction so

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A: Receiving process is one activity related to warehouse. When goods are being reached or received in…

Q: Where do you post the reversing entries in the old (general) ledger or in a new ledger?

A: The reversing entries are made at the beginning of the period to cancel the adjustment entries that…

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A: The question is Ture or False.

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A: Accounting is the process that is followed by a business in order to record their financial…

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A: Contingent assets and liabilities are potential economic benefits and obligations that may impact a…

Q: A check mark below the columnar totals of any special journal is an indication that A. no posting is…

A: Special journals are journals that record frequent transactions in a simple way

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A: The correct answer is: (B) Descriptive analytic  A descriptive analytics is a type of data analysis…

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A: There are two components involved while passing an accounting entry, they are Debits Credits

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A: The answer is provided as follows:

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Q: How long must audit workpapers be maintained?

A: Definition:   Audit planning: Audit planning includes the designing of audit strategy for the…

Q: Transferring journal entries to the ledger accounts is called posting and should be per­formed in…

A: Ledger posting is the process of transferring information from general journal entries to the…

Q: Please work out manually the Covariance with MP.

A: Co-variance   between X and Y means joint deviation of X around X and Y around Y. Formula for…

Q: How do you start a new ledger with the reversing entries?

A: The reversing entries are prepared to cancel the adjustment entries made at the year end.

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…

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A: Size check restricts the length of the characters to be entered as an input in a particular field.…

Q: two methods of recording prepayments

A: Prepayments are the advance amount paid for expenses to be incurred.

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A: Sorting means to arrange data in ascending or descending order. It can also be used to arrange data…

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: 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: Required Determine the effect, if any, of each of the errors on the following items. Give the dollar…

A: Inventory : Overstating inventory means that the reported amount for the cost of a company's…

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Q: Proving the equality of the totals in the columns of multiple-column special journals is called

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A: Net Present Value: NPV of a project or an investment represents its profitability in absolute…

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

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A: The question is based on the concept of financial analysis.

Q: Graph the data and comment on whether or not there are potential outliers.

A: This question's fundamental idea entails:Recognizing cost behavior, in particular the possibility…

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.

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

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Q: O True O False

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A: The objective of the question is to verify the functionality of the 'Generate' button in the A/P…

Q: sample of Adjusting entries on worksheet

A: Adjusting journal entry is an entry in the ledger of the firm that occurs at the end of the period.…

Q: Briefly describe record counts, batch totals, and hash totals. What types of errors in input…

A: Input controls: It is created to provide reasonable guarantee of received data for processing by the…

Q: What should you do to ensure that errors in journalizing, posting or in the preparation of the trial…

A: Error in accounting refers to mistakes which could involve duplicating the same entry, transaction…

Q: Clicking Generate at the bottom of the A/P Create Payment Batch form creates a payment batch. Group…

A: The objective of the question is to verify the functionality of the 'Generate' button in the A/P…