INTERMEDIATE ACCOUNTING(LL)-W/CONNECT
9th Edition
ISBN: 9781260216141
Author: SPICELAND
Publisher: MCG CUSTOM
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Question
Chapter 2, Problem 2.25E
To determine
General journal (GJ):
The journal where the debit and credit entries of the accounting transactions are recorded in a chronological order are referred to as general journal.
Special journals:
Special journals are the journals where the particular types of transactions which occur frequently in a month are recorded.
The special journals that are generally used by the businesses are as follows:
- Sales journal (SJ)
- Cash receipts journal (CR)
- Purchases journal (PJ)
- Cash payments or disbursements journal (CD)
To Indicate: The journal which should be used to record each of the following transactions.
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Students have asked these similar questions
Business incurred travelling cost of OMR 50. Which of the following specialized journals will record this transaction?
a.
Purchase journal
b.
Cash receipt journal
c.
Sales journal
d.
Cash payment journal
MULTIPLE CHOICE
MULTIPLE CHOICE
1. The entries in a purchases journal are posted to which of the following subsidiary ledger?
A. Accounts Receivable
B. Sales
C. Purchases
D. Accounts payable
2. The accounts payable ledger has posting from which of the following sets of journal?
A. Purchases, cash payments and general
B. Purchases, cash receipts and general
C. Purchases and sales
D. Cash payments and sales
Chapter 2 Solutions
INTERMEDIATE ACCOUNTING(LL)-W/CONNECT
Ch. 2 - Explain the difference between external events and...Ch. 2 - Each economic event or transaction will have a...Ch. 2 - What is the purpose of a journal? What is the...Ch. 2 - Explain the difference between permanent accounts...Ch. 2 - Describe how debits and credits affect assets,...Ch. 2 - Describe how debits and credits affect temporary...Ch. 2 - What is the first step in the accounting...Ch. 2 - Prob. 2.8QCh. 2 - Prob. 2.9QCh. 2 - Prob. 2.10Q
Ch. 2 - What is an unadjusted trial balance? An adjusted...Ch. 2 - Define adjusting entries and discuss their...Ch. 2 - Define closing entries and their purpose.Ch. 2 - Define prepaid expenses and provide at least two...Ch. 2 - Deferred revenues represent liabilities recorded...Ch. 2 - Define accrued liabilities. What adjusting journal...Ch. 2 - Prob. 2.17QCh. 2 - [Based on Appendix A] What is the purpose of a...Ch. 2 - [Based on Appendix B] Define reversing entries and...Ch. 2 - [Based on Appendix C] What is the purpose of...Ch. 2 - Prob. 2.21QCh. 2 - Transaction analysis LO21 The Marchetti Soup...Ch. 2 - Journal entries LO22 Prepare journal entries for...Ch. 2 - Prob. 2.3BECh. 2 - Journal entries LO22 Prepare journal entries for...Ch. 2 - Adjusting entries LO25 Prepare the necessary...Ch. 2 - Adjusting entries; income determination LO24,...Ch. 2 - Adjusting entries LO25 Prepare the necessary...Ch. 2 - Income determination LO24 If none of the...Ch. 2 - Adjusting entries LO25 Prepare the necessary...Ch. 2 - Financial statements LO26 The following account...Ch. 2 - Financial statements LO26 The following account...Ch. 2 - Closing entries LO27 The year-end adjusted trial...Ch. 2 - Prob. 2.13BECh. 2 - Transaction analysis LO21 The following...Ch. 2 - Journal entries LO22 Prepare journal entries to...Ch. 2 - T-accounts and trial balance LO23 Post the...Ch. 2 - Journal entries LO22 The following transactions...Ch. 2 - Prob. 2.5ECh. 2 - Debits and credits LO22 Indicate whether a debit...Ch. 2 - Transaction analysis; debits and credits LO22...Ch. 2 - Adjusting entries LO25 Prepare the necessary...Ch. 2 - Adjusting entries LO25 Prepare the necessary...Ch. 2 - Adjusting entries; solving for unknowns LO24,...Ch. 2 - Adjusting entries LO25 The Mazzanti Wholesale...Ch. 2 - Financial statements and closing entries LO26,...Ch. 2 - Closing entries LO27 American Chip Corporations...Ch. 2 - Prob. 2.14ECh. 2 - Cash versus accrual accounting; adjusting entries ...Ch. 2 - External transactions and adjusting entries LO22,...Ch. 2 - Accrual accounting income determination LO24,...Ch. 2 - Cash versus accrual accounting LO28 Stanley and...Ch. 2 - Prob. 2.19ECh. 2 - Worksheet Appendix 2A The December 31, 2018,...Ch. 2 - Reversing entries Appendix 2B The employees of...Ch. 2 - Reversing entries Appendix 2B Refer to E 29 and...Ch. 2 - Reversing entries Appendix 2B Refer to E 29 and...Ch. 2 - Special journals Appendix 2C The White Companys...Ch. 2 - Prob. 2.25ECh. 2 - Accounting cycle through unadjusted trial balance ...Ch. 2 - Accounting cycle through unadjusted trial balance ...Ch. 2 - Adjusting entries LO25 Pastina Company sells...Ch. 2 - Accounting cycle; adjusting entries through...Ch. 2 - Adjusting entries LO25 Howarth Companys fiscal...Ch. 2 - Accounting cycle LO22 through LO27 The general...Ch. 2 - Adjusting entries and income effects LO22, LO25...Ch. 2 - Adjusting entries LO25 Excalibur Corporation...Ch. 2 - Accounting cycle; unadjusted trial balance through...Ch. 2 - Prob. 2.10PCh. 2 - Prob. 2.11PCh. 2 - Cash versus accrual accounting LO28 Zambrano...Ch. 2 - Worksheet Appendix 2A Using the information from...Ch. 2 - Judgment Case 21 Cash versus accrual accounting;...Ch. 2 - Prob. 2.2BYPCh. 2 - Communication Case 23 Adjusting entries LO24 I...Ch. 2 - Continuing Cases Target Case LO24, LO28 Target...
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Similar questions
- RECORDING TRANSACTIONS IN THE PROPER JOURNAL Identify the journal (sales, cash receipts, purchases, cash payments, or general) in which each of the following transactions should be recorded: (a) Sold merchandise on account. (b) Purchased delivery truck on account for use in the business. (c) Received payment from customer on account. (d) Purchased merchandise on account. (e) Issued check in payment of electric bill. (f) Recorded depreciation on factory building.arrow_forwardDIRECT WRITE-OFF METHOD Lee and Chen Distributors uses the direct write-off method in accounting for uncollectible accounts. REQUIRED Record these transactions in general journal form.arrow_forwardJOURNALIZING CASH RECEIPTS Enter the following transactions in a general journal:arrow_forward
- A. Classify the transactions in the box to the appropriate journal where it will be recorded. (Please refer to the picture.)arrow_forwardIn which journal is the receipt of a promissory note from a customer on account recorded ? a. revenue journal b. cash receipts journal c. general journal d. purchases journalarrow_forwardIdentify the journal in which each of the following transactions is recorded. Transactions Journals a. Cash sales. Sales JournalCash Receipts JournalCash Payments JournalGeneral JournalPurchases Journal b. Owner withdrawal of cash. Sales JournalPurchases JournalCash Receipts JournalCash Payments JournalGeneral Journal c. Cash purchase of land. General JournalCash Payments JournalPurchases JournalSales JournalCash Receipts Journal d. Credit sales. Sales JournalPurchases JournalGeneral JournalCash Payments JournalCash Receipts Journal e. Purchase of merchandise on account. Sales JournalCash Receipts JournalCash Payments JournalGeneral JournalPurchases…arrow_forward
- BEJ-6 Identify the special journal(s) in which the following column headings appear. (a) Sales Discounts Dr. (d) Sales Revenue Cr. (e) Inventory Dr. (b) Accounts Receivable Cr. (c) Cash Dr. Identify transactions for special journals. (LO 2), Carrow_forward31.This type of special journal makes use of official receipts issued by companies. A. cash disbursement B. cash receipts C. purchase journal D. sales journalarrow_forwardWhich 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 goodsarrow_forward
- Question 4 Explain briefly on the following: i) Sales Journal ii) Purchase journal iii) Cash receipts Journal iv) Cash payment Journal and iv) general Journalarrow_forwardQuestion 17 The accounts payable subsidiary ledger is proved when the total of the vendors' account balances agrees with the: O Accounts Payable account in the accounts payable ledger. O Accounts Payable account in the general ledger. O Cash account in the general ledger. O Purchases account in the general ledger.arrow_forward33.This is the type of special journal where sales invoice from a supplier may be found. A. sales journal B. purchase journal C. cash receipt journal D. cash disbursement journalarrow_forward
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