Discuss the different part of SAGE 50 Peachtree A.payables B.receivable C.inventory D.payroll
Q: What are some common types of receivables other than accounts receivable and notes receivable?
A: Receivables are the amount due to be received in future such as accounts receivable, notes…
Q: d. Trade receivables, current assets (after deducting the related allowance) b. Trade receivables,…
A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…
Q: Received interest revenue of RO. 525. In the Interest revenue ledger Select one: O a. Interest…
A: Answer : Correct option is C. Interest Revenue RO 525 - On the Credit side.
Q: d) Payables payment period in days e) Number of days inventory on hand 2. Analyse and interpret…
A: Ratio Analysis The purpose pre preparing the Ratio analysis which indicating the strength and…
Q: QUESTION 15 In the income statement, discounts received are: a. Deducted when we receive cash b.…
A: Income statement: It can be defined as one of the company’s financial statements that shows all the…
Q: Which entity is most likely to be part of both the payroll cycle Pand the expenditure cycle اختواحد…
A: Cash disbursement represents the distribution of cash from one party to another. It is the cash…
Q: 66. The controlling account in the general ledger that summarized the individual accounts with…
A: Creditors are persons from whom a business has made credit purchases on account and the amount has…
Q: is the amount of goods remaining unsold in a particular period a. Cash O b. Accounts receivable O C.…
A: Goods are the items that the entity purchase from the supplier to sell to the customer and earn…
Q: Which item will appear on the credit side of the ledger account? a. Salary b. Drawings c. Service…
A: All expenses, losses, and assets should be debited and all revenue, income, gain, and liabilities…
Q: Accounts Payable Deferred Revenue Beg. Bal Beg. Bal End. Bal End. Bal Notes Payable (Ilong-term)…
A: T-account refers to a compiled set of financial records of an organization which follows and…
Q: Prepare the following for the year ended 31 December 2020 i. Accounts payable and accounts…
A:
Q: 37 [Question text] The length of time between the purchase of inventory and the receipt of cash…
A: Operating Cycle Operating cycle of the business which is described as the period in which entity who…
Q: HOW MUCH SHOULD BE PRESENTED AS " TRADE AND OTHER RECEIVABLES" UNDER CURRENT ASSETS? This will be…
A: Particulars Amount Trade Receivables 725000 Trade Note Receivables 100000 Less: Sales Returns…
Q: 6. Discount on Note Payable should be classified as a a. current asset b. contra account to Notes…
A: The Discount on Notes Payable account should be reported as an asset on the balance sheet. balance…
Q: What is an account receivable? O a. Sales O b. Asset O c. Income O d. Creditors
A: Following is the answer to the given question
Q: AFA FINANCIAL ACCOUNTING equivalent to 5% of the receivables at that date. receivables expense?
A: Bad Debts:- These are those debts from whom the company is unable to collect debts. These are…
Q: Summary posting from the sales journal normally would be completed which of the following orders?…
A: Sales journal is one type of special journal, which is used for recording of all sales which is made…
Q: 24. The income summary account a. is a permanent account. C. appears on the income statement. b.…
A: The income summary account is a temporary account in which the balance of other temporary account is…
Q: The Sales Returns and Allowances account is reported as a
A: Sales Return refers to the process of returning goods by a customer back to the company or…
Q: Which of the following is a contra-liability account? a. Notes Payable b. Discount on Notes Payable…
A: Contra liability refers to a liability which is debited for the purpose of offsetting the credit of…
Q: -It is used to who is responsible for paying shipping and when the title of the goods passes from…
A: When a Business transaction is executed, it is subjected to certain terms and conditions that govern…
Q: Under perpetual inventory system- what is the journal entry when payment is made on accounts payable…
A: Perpetual inventory system: It is a method of inventory management that records real-time…
Q: 6. An example of a contra-revenue account found on the Income Statement is the M O A. Sales Returns…
A: A revenue account that is anticipated to have a debit balance is referred to as a contra revenue…
Q: 25) How is the total of the purchases daybook posted to the nominal ledger? A. Debit purchases,…
A: The journal entries are used to record the financial transactions. It is also used to prepare the…
Q: 1. Calculate the Accounts Receivable Collection Period & Accounts Payable Payment Period based on…
A: Accounts receivable collection period = 365 x Average Accounts receivable…
Q: Which of the following account should be recorded as a creditor in the inventory record to be made…
A: Creditor : The term 'creditor' shows the customer from whom the goods or services had been taken on…
Q: The journal entry for the purchase of inventory on account using the periodic inventory system is
A: Date Accounts and Explanation Debit Cedit Purchases XXX…
Q: The journal entry for the purchase of inventory on account using the perpetual inventory system is
A: Perpetual inventory system: The method or system of maintaining, recording, and adjusting the…
Q: Which of the following items is considered an original source document? Select one: a. accounts…
A: Source document In general source document which are used for the business transaction of the entity…
Q: revenue yable-bank yable (b) nclude two se 0% poto iccus
A: Current Liabilities:
Q: 1. Which method of reco accrual accounting? a. Allowance method b. Direct writeoff method c. Percent…
A: The allowance for uncollectible account is maintained to record estimated bad debt expense for the…
Q: prepare the Allowance for Uncollectible and the Accounts Receivable accounts based on the…
A: Bad debt: Bad debts refer to the expenses that are recognized by the company if the amount due for…
Q: Two methods of accounting for uncollectible accounts are the Question 40 options: allowance…
A: Uncollectible accounts means the debt which has become bad i.e. bad debts. The account receivable…
Q: 5. Merchandise inventory is classified on the balance sheet as a a. Current Liability b. Current…
A: Since you have asked multiple questions, we will solve the first question for you . If you want any…
Q: a. Compute the correct amount of accounts receivable. b. Prepare one compound entry to adjust the…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: 15.Which of the following is/are considered as trade receivables? I. Claims from customers for…
A: Trade receivables seem to be the sums due to a company by its clients after the sale of products and…
Q: Calculate the cash discount and the net amount due the transaction (in $). Amount of Invoice Terms…
A: Credit terms includes terms & conditions related to discounts and interest or late fee…
Q: Q-1: What is Perpetual and Periodic Inventory System? Explain the differences between both. Record…
A: There are two methods to track inventory, namely, periodic and perpetual inventory system. Periodic…
Q: 19.The worksheet consisted of five pairs of debit and credit columns. The amount of one item…
A: Answer: There are income and financial position statement that are prepared as part of financials.
Q: Identify which type of adjustme A. Rent paid in advance for us B. Cash received in advance f C.…
A: The following transactions are categorized with the appropriate answer
Q: (Choose the correct alternati Column I Column II A Current Account Surplus i. Receipts Payments C…
A: The current account surplus is excess of receipt over the payments.
Q: a. Calculate and interprete the following ratios Receivables days Payables days Inventory days
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
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- Which function should distribute paychecks?a. personnelb. timekeepingc. paymasterd. payrollAccount for accountspayable and analyzeaccounts payableturnoverQuestion 7 Which 4 transaction types can be made into recurring templates? Transfer Deposit Bill Inventory quantity adjustment Pay bills Paycheck Receive payment Invoice
- N. AccountWhat entry format is appropiate if sales returns and allowances occur on factored accounts? a. Sales returns and allowances xx Receivable from factor xx b. Reveivable from Factor xx Factoring expense xx c. Sales returns and allowances xx Factoring expense xx d. Reveivable from factor xx Accounts receivable xxSub... Accounting
- a) Write explanatory notes on the following terms as used in consignment accounts:i. Account saleii. Del-credere commissioniii. Consignee2) Sea Travel sells motor boats. One of Sea Travel's most popular models is the Wing. During the current year, Sea Travel purchased 24 Wings at the following costs. Total cost Unit Cost $7000 $7100 $7250 Purchase Date Units Purchased May 2 May 20 May 25 $28,000 14,200 4 8 58000 June 5 10 $7300 73000 24 $173,200 On May 28, Sea Travel sold 11 Wings to the jack Sport racing team. Compute a) the cost of goods sold on May 28 and b) The ending inventory of Wing boats at June 5, using the following cost flow assumptions: c) Prepare journal entries to record the cost of the 11 wings sold on May 28, assuming that the company uses the:Define account payable