Horngren's Accounting (12th Edition)
12th Edition
ISBN: 9780134486444
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 2, Problem E2.10E
Using accounting vocabulary
Learning Objectives 1, 2, 3, 4
Match the accounting terms with the corresponding definitions.
| 1. Posting |
a. A detaded record of all increases and decreases that have occurred in a particular asset, Ilability, or equilty during a period |
| 2. Account |
b. The record holding all the accounts of a business, the changes in those accounts, and their balances |
| 3. Debit |
c. A |
| 4. Journal |
d. A record of transactions in date order |
| 5. Chart of accounts |
e. Len side of a T-account |
| 6. |
f. Side of an account where increases are recorded |
| 7. Normal balance |
g. Transferring amounts from the journal to the ledger |
| 8. Ledger |
h. Right side of a T-account |
| 9. Credit |
i. A list of all accounts with their balances at a point in time |
| 10. Compound journal entry |
j. A list of all accounts with their account numbers |
Expert Solution & Answer
Learn your wayIncludes step-by-step video
schedule03:50
Students have asked these similar questions
1. This deals with the determination of the fairness of the accountin reports and whther they are in accordance with the generally accepted accounting principles
a. management accountingb. cost accounting.c. financial accountingd. auditing
2. which of the following journal entries can be eleminated?a. correcting entryb adjusting entryc. opening entryd. closing entry
The step-by-step process to record business activities and events to keep financial records up todate is ________.A. day-to-day cycleB. accounting cycleC. general ledgerD. journal
Which of the following accounting records is the main source of information used to prepare thefinancial statements?A. journal entriesB. T-accountsC. trial balanceD. chart of accounts
Chapter 2 Solutions
Horngren's Accounting (12th Edition)
Ch. 2 - The detailed record of the changes in a particular...Ch. 2 - Which of the following accounts is a liability?...Ch. 2 - The left side of an account is used to record...Ch. 2 - Which of the following statements is correct?...Ch. 2 - Your business purchased office supplies of $2,500...Ch. 2 - Sedlor Properties puchased office supplies on...Ch. 2 - Posting a $2,500 purchase of office supplies on...Ch. 2 - Pixel Copies recorded a cash collection on account...Ch. 2 - Which sequence correctly summarizes the accounting...Ch. 2 - Nathvile Laundry reported assets of $800 and...
Ch. 2 - Identify the three categones of the accounting...Ch. 2 - What is the purpose of the chart of accounts?...Ch. 2 - What does a ledger show? What’s the difference...Ch. 2 - Accounng uses a double-entry system. Explain what...Ch. 2 - What is T-account? On which side is the debit? On...Ch. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Identify which types of accounts have a normal...Ch. 2 - What are source documents? Provide examples of...Ch. 2 - Prob. 10RQCh. 2 - Explain the five steps in journalizing and posting...Ch. 2 - What are the four parts of a journal entry?Ch. 2 - What is involved in the posting process?Ch. 2 - What is the purpose of the trial balance?Ch. 2 - What is the differnce between the trial balance...Ch. 2 - If total debits equal total credits on the trial...Ch. 2 - What is the calculation for the debt ratio?...Ch. 2 - Identifying accounts Learning Objective 1 Consider...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying normal balances Learning Objective 2...Ch. 2 - Prob. S2.4SECh. 2 - Journalizing transactions Learning Objective 3...Ch. 2 - S2-6 Journalizing transactions
Learning...Ch. 2 - Journalizing transactions and posting to...Ch. 2 - Prob. S2.8SECh. 2 - Prob. S2.9SECh. 2 - Using accounting vocabulary Learning Objectives 1,...Ch. 2 - Creating a chart of accounts Learning Objective 1...Ch. 2 - Identifying accounts, increases in accounts, and...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying source documents Learning Objective 3...Ch. 2 - Analyzing and journalizing transactions Learing...Ch. 2 - Analyzing and journalizing transactions Leaning...Ch. 2 - Posting journal entries to T-accounts Learning...Ch. 2 - Analyzing and journalizing transactions Learning...Ch. 2 - Posting journal entries to four-column accounts...Ch. 2 - Analyzing transactions from T-accounts Learning...Ch. 2 - Journalizing transactions from T-accounts Learning...Ch. 2 - Preparing a trial balance Learning Objective 4...Ch. 2 - Preparing a trial balance from T-accounts Learning...Ch. 2 - Journalizing transactions, posting journal entries...Ch. 2 - Analyzing accounting errors Learning Ojective 4...Ch. 2 - Prob. E2.26ECh. 2 - E2-27 Correcting errors in a trial...Ch. 2 - Prob. E2.28ECh. 2 - Journalizing transactions, posting journal entries...Ch. 2 - Journalizing transactions, posting journal entries...Ch. 2 - Journalizing transactions, posting journal entries...Ch. 2 - Journalizing transactions, posting journal entries...Ch. 2 - Correcting errors in a trial balance Learning...Ch. 2 - Prob. P2.34APGACh. 2 - Prob. P2.35BPGBCh. 2 - Prob. P2.36BPGBCh. 2 - Journalizing transactions, posting journal entries...Ch. 2 - Prob. P2.38BPGBCh. 2 - Correcting errors in a trial balance Learning...Ch. 2 - Prob. P2.40BPGBCh. 2 - Prob. P2.41CTCh. 2 - P2-42 Journalizing transactions, posting to...Ch. 2 - Journalizing transactions, posting to T-accounts,...Ch. 2 - Before you begin this assignment, renew the Tymg...Ch. 2 - Prob. 2.1DCCh. 2 - Prob. 2.1EICh. 2 - Prob. 2.1FCCh. 2 - Prob. 2.1FSC
Additional Business Textbook Solutions
Find more solutions based on key concepts
Why are the social security and Medicare taxes paid by the employee not included in labor burden?
Construction Accounting And Financial Management (4th Edition)
Which amounts do we post daily and which do we post monthly?
Principles of Accounting Volume 1
A bond with a face value of 250,000 and a quoted price of 98 has a selling price of a.250,098. b.245,000. c.255...
Financial Accounting (12th Edition) (What's New in Accounting)
Use ABC to allocate manufacturing overhead (Learning Objective 2) Several years after reengineering its product...
Managerial Accounting (5th Edition)
S6-2 Determining inventory costing methods
Ward Hard ware does not expect costs to change dramatically and want...
Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
What is broad averaging, and what consequences can it have on costs?
Cost Accounting (15th Edition)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- ACCOUNTING PROCESS Match the following steps of the accounting process with their definitions. Analyzinga. Telling the results Recordingb. Looking at events that have taken place and thinking about how they affect the business Classifying Summarizingc. Deciding the importance of the various reports Reportingd. Aggregating many similar events to provide information that is easy to understand Interpretinge. Sorting and grouping like items together f. Entering financial information into the accounting systemarrow_forwardTopic: Accounts, Debits and Credits 1. Analyze in detail: Introduction to the study of financial statements and their main classifications of accounts: assets, debits, equity, income and expenses, as well as a review of the accounting cicle for this task. Instructions: 2. Prepare a description, compare, and contrast of accounts, debits, and credits and how they are used to record business transactions.*ImportantPlease contribute a minimum of 300 words. It must include at least 2 academic sources, formats and must be cited in accordance with current APA regulations.arrow_forwardUsing accounting vocabulary Match the accounting terms with the corresponding definitions.arrow_forward
- Directions: THE EVENTS COMMON TO THE ACCOUNTING FUNCTION OF A BUSINESS ENTITY ARE LISTED BELOW. ON THE NUMBERED SPACES PROVIDED, PLACE THE LETTERS OF THE EVENTS IN THE SEQUENCE IN WHICH THEY WOULD LOGICALLY OCCUR, 1 BEING THE FIRST, AND 10 THE LAST. ACCOUNTING FUNCTIONS A – Determining ledger account balances F – Posting from the journal to the ledger B – Analyzing the transactions G – Preparing a business document C – Preparing the Statement of Financial H – Preparing a Statement of Comprehensive Position Income D – Preparing the trial balance I - Journalizing the transactions E – Occurrence of a business transactions J - Preparing the statement of owner’s equityarrow_forwardCHOOSE A, B,C OR D Management accounting serves following purposes:A. provision of information used by management of a business entity for decision making, planning and performance evaluationB. producing general purpose financial statementsC. meeting regulatory requirementsD. display the income and expenditure for the company and a summary of the assets, liabilities, and shareholders or owners’ equity of the company on the date the accounts were prepared to by usage of Double-entry accounting systemAnswer the question and explain why did you pick this answerarrow_forwardthese multiple choice Questions from ACCOUNTING PRINCIPLES 1 Course.I need the final.arrow_forward
- Match the accounting terms with the corresponding definitions. A (Click the icon to view the accounting terms.) Definition Accounting Term a. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period b. The record holding all the accounts of a business, the changes in those accounts, and their balances c. A journal entry that is characterized by having multiple debits and/or multiple credits More Info d. A record of transactions in date order e. Left side of a T-account 1. Posting f. Side of an account where increases are recorded 2. Account g. Transferring amounts from the journal to the ledger 3. Debit h. Right side of a T-account 4. Journal 5. Chart of accounts i. A list of all accounts with their balances at a point in time 6. Trial balance j. A list of all accounts with their account numbers 7. Normal balance 8. Ledger 9. Credit 10. Compound journal entry Print Donearrow_forwardof economic events is the part of the accounting process that involves Communication O a. preparing accounting reports Ob.identifying economic events Oc. quantifying transactions into dollars and cents O d. recording and classifying informationarrow_forwardSelect 30 transactions of various kinds such as sales, costs (direct and indirect), revenues earned, revenue received in advance, expenses incurred, paid in advance, outstanding expenses, assets (current, non-current), liabilities (current, long term), Equity and so on.1. Record those transactions in journal,2. post them to ledger,3. Transfer the balances in trail balance,4. Prepare income statement and balance sheet.5. Follow the proper format considering IAS-1.6. Explanation: At the end, apply the concepts such as long term assets, capital or revenueincomes or expenses and their treatment involved in your above requirements Transactions of Mr. Akram travel world business Mr Akram started business with cash for rs 400,000. Paid wages rs 20,000. Paid office rent in advance 2000. Paid rs 10000 for insurance in advance. Babar and sons paid 2500 for goods on advance. Purchased office equipment on credit rs 5000. Paid 7000 for advertising expenses. Paid 3000 to accounts payable. Provided…arrow_forward
- Course: Accounting What is reason that financial statements are prepared for a general purpose? Reflect on that and also on company's stakeholders. Please detailsarrow_forwardselect the item that best completes each of the description below A____ of accounts is a list of all accounts a company uses not including account balance a____ contains a record of decreases and increases in a spefic revenue, expenses, asset, liability, or equity a___ is a record containing all accounts used by a company including account balance a___ had a complete record of every transaction recored a___ such as a bank statement is objective evidence of transaction and their amountsarrow_forwardMULTIPLE CHOICE 1. This process refers to the reporting of the information processed in the accounting system to interested users. A. Journalizingh B. Communicating C. Debiting D. Videoing 2. What is the normal balance of the sales returns account? A. Zero B. Credit C. Debit D. None of thesearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Accounting, Chapters 1-27AccountingISBN:9781337794756Author:HEINTZ, James A.Publisher:Cengage Learning,
Financial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage Learning
Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning
College Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College Pub
Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,
Financial Accounting: The Impact on Decision Make...
Accounting
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
ACCOUNTING BASICS: Debits and Credits Explained; Author: Accounting Stuff;https://www.youtube.com/watch?v=VhwZ9t2b3Zk;License: Standard Youtube License