In a computer system, how are accounting records posted?a. master file is updated to a transaction fileb. master file is updated to an index filec. transaction file is updated to a master filed. master file is updated to a year-to-date filee. current balance file is updated to an index file

Q: ntify and discuss the steps in the recording process. Be sure to discuss what each step does and how…

A: The business transactions cannot be directly posted into the ledger account. All the transaction…

Q: Post these transactions into ledger.

A: Ledger account: It is used to record the business transactions that were made during a financial…

Q: Normally revenue is recognized when:

A: Answer

Q: Explain how to open a new account in the accounts payable ledger

A: The accounts payable ledger ia a subsidiary ledger which contains the details of all vendors to whom…

Q: Rearrange the following steps in the accounting cycle in proper sequence: Transactions are analyzed…

A: Following is the appropriate procedure structure of accounting cycle:

Q: Journalize the transaction and post to ledger using T-account format.   (Please refer to the…

A: Accounting is the process of recording, classifying and summarising accounting transactions.…

Q: The statement that is NOT CORRECT about the general ledger is __________ . a. postings are based on…

A: Ledger is secondary book of the business in which the transactions which have earlier been recorded…

Q: Post to the ledger accounts.

A: The process of recording business transactions in the books of accounts for the first time is…

Q: Journalize any required entries from the records for Kirk's hardware

A: Any transaction that is present in the bank statement but not in the cash book, and any error that…

Q: A trial balance represents the:   Multiple Choice   Chronological record of all transactions…

A: Trial balance includes both temporary accounts and permanent accounts. All expenses, losses, and…

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…

Q: Discuss the trade-off in choosing to update the general ledger accounts in real time.

A: Real Time versus Batch Processing: Real time processing refers to the changes that are updated in…

Q: As you work this problem, be sure to label entries with the appropriate "letter" associated with the…

A: T-account is a graphical representation of Ledger and contains two sides i.e. debit and credit

Q: The outputs of a computerized accounting information system are called Reports. Software.…

A: Accounting information systems: Accounting information system is a system that collects, stores,…

Q: The first step in recording a transaction in a journal is to Write an explanation Record the debit O…

A: Journal:- All transactions may be first recorded in the journal as and when they occur; the record…

Q: steps in posting from asales journal to an accounts receivable ledger

A: Sales Journal: A journal is a book of original entry where all journal entries are recorded on the…

Q: The Journal: a. Lists every journal entry made only through the onscreen journal b. Is also called…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

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.

Q: Make a journal entry for each transaction

A: Journal entry records identified financial transactions in debit and credit side for different…

Q: What happens to the special journal in a computerized accounting system that uses electronic forms?

A: In computerised accounting system the transactions are recorded in electronic form. Almost all…

Q: The database attributes that individual users have permission to access are defined in the a.…

A: Accounting Information System (AIS):   The system which helps to gather, store and process the…

Q: Prepare journal entries to record the above transaction , showing all necessary computations.

A: Payroll expenses: Payroll expenses can be defined as the expenses made in respect of compensation…

Q: Required a) Prepare joumal entries to record the preceding transactions.

A: Manufacturing business entity is defined as the legal form of business entity which is engaged in…

Q: The payables clerk obtains and matches the purchase order, receiving report, and vendor's invoice…

A: Clerk: A clerk refers to an individual who is an employee of a company or a bank and is responsible…

Q: Select the letter of the item below that best matches the definitions that follow. a. Data Files CD…

A:

Q: If the company has a multiple trasactions, what ledger should you post the trasaction?

A: Financial accounting involves recording of financial transactions of a firm during the accounting…

Q: Example of posting reversing entries in the ledger.

A: On the first day of a new accounting period, reversing entries are made to reverse accrual adjusting…

Q: ayroll records serve as backup for

A: Payroll refers to the desired dum of money a company or an employer pays to its employees for the…

Q: One business activity data have been entered in to the system, they must be to keep the database…

A: Once business activity data has been entered into the system, they must be data processed to keep…

Q: Record the above summary transactions. (Record journal entries in the order presented in the…

A: The act of maintaining or making records of any transactions both monetary or non-monetary.…

Q: Ledgers Balancing off the accounts Trial balance

A: Trail Balance is the statement in which the all the carrying balances of the accounts which are…

Q: Registers in OBO: Multiple Choice Display more detailed information about accounts Display all…

A: Quickbooks is very useful and important tool used for accounting nowadays. This is a kind of…

Q: A T-account is * a way of depicting the basic form of an account. what the computer uses to organize…

A: T account is representation of induvial accounts having credit or debit transactions. It depicts the…

Q: Which task should the general ledger perform?a. update the general ledgerb. prepare journal…

A: General Ledger: General ledger records the summary of individual events from special journal and…

Q: -ks of January (- dditional salarie sting entry for account field.) View transaction lis

A: Fact:  Employees earned in last three days of Jan ,salary…

Q: QUESTION 2 Posting: transfers journal entries to ledger accounts. O a. transfers ledger transaction…

A: Accounting process: A process that starts with identifying the transactions or events and ends with…

Q: What is the purpose of posting J.F numbers that are entered in the journal at the time entries are…

A: Ledger:   A ledger is a book of account utilised by the business to maintain the record the accounts…

Q: State the purpose of footing the total column in the client’saccounts receivable trial balance,…

A: A necessary audit procedure is to test the information on the client's trial balance for detail…

Q: transactions into ledger.

A: Meaning of Ledger All the transactions which are recorded on journal are posted into the ledger…

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.