Match the best answer to each question/ The ledger that contains the financial statement accounts of Accounts payable ledger + the company is the The subsidiary ledger that contains a separate account for each Credit sales supplier (creditor) to the company is the The sales journal is used to record The general ledger

Match the best answer to each question/ The ledger that contains the financial statement accounts of Accounts payable ledger + the company is the The subsidiary ledger that contains a separate account for each Credit sales supplier (creditor) to the company is the The sales journal is used to record The general ledger

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 7QY: The schedule of accounts payable lists each creditors account balance, and the total equals the...

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Using the following revenue journal for Bowman Cleaners Inc., identify each of the posting references, indicated by a letter, as representing (1) posting to general ledger accounts or (2) posting to subsidiary ledger accounts:
Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable.
What is the accounts receivable ledger? a. A record of credit customers and their balances b. A record of vendors and their balances c. Part of the sales journal d. Part of the general journal e. Part of the general ledger
The schedule of accounts payable lists each creditors account balance, and the total equals the _________________. a. Controlling account in the journal b. Accounts Payable account in the general ledger c. Accounts Receivable account in the general ledger d. Purchases account in the general ledger e. Sales account in the general ledger
Choose a company and describe how a specific issue, policy, or procedure (for example, granting merchandise returns, establishing sales prices) might look if the business is structured as a centralized business.
JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning balance in Accounts Receivable is 3,900. Beginning balances in selected customer accounts are Adams, 850; Greene, 428; and Phillips, 1,018.
Individual customer accounts are kept in a ledger called a: O purchase ledger O sales ledger general ledger O subsidiary ledger
Using the following revenue journal for Bowman Cleaners Inc., identify each of the postingreferences, indicated by a letter, as representing (1) posting to general ledger accounts or(2) posting to subsidiary ledger accounts:
Drawing from your basic accounting knowledge, list the relevant data attributes that constitute the record types below. Identify which attribute is the primary key for the record. Accounts Payable record Inventory record Customer Sales Orders record Purchase Orders to vendors Cash Receipts (checks) from customers Employee Payroll Earnings records
Compare and contrast a manual accounting system for processing customer transactions. Include an explanation of how the accounts receivable subsidiary ledger compares with the Customer Center.
An accounting clerk would take first which of the following steps? A. Post individual amounts to the subsidiary ledgers. B. File source documents C. Journalize the business transaction D. Post to the general ledgers.
Identify which department has stewardship over the following journals,ledgers,and files. a.customer open order file b.sales journal c.cash receipts journal d.cash receipts journal e.Inventory subsidiary ledger f.Accounts receivable subsidiary ledger g.Sales history file h.Shipping report file I.credit memo filr j.sales order file k.closed sales order file