multiple choice question  When special journals are used, a General Journal is   still required not required. used only to record sales returns and allowances. used only to record cash deposits of owner investments

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To minimize errors in the accounts payable function, which of the following procedures should be performed? approving the purchase requisition following up on open purchase orders double checking the math on the bank reconciliation matching the supplier’s invoice to the receiving report

Which of the following is NOT a financial transaction?   Purchase of inventory   Cash receipts    update valid vendor file       Question 2 Which is the least appropriate type of transaction for a real-time system?   air traffic control systems   point-of-sale transactions   airline reservations   payroll

Petty Cash Fund Question, When it comes to making payments from the petty cash fund, why isn't there an accounting/journal entry for it? Please Explain.

Explain the primary goal of maintaining a cash book. Use a case study company of your own choice to demonstrate how such a goal (Your arguments must only relate to the main goal of a cash book) can be attained. Provide examples as approperiate  Clearly explain how a cash book can be integrated in the extraction/development of the Trial Balance. Are trade discounts included in the cash book? If not or if yes, explain why   Are credit transactions included in the cash book? If not or if yes, explain why Ledgers help to organize accounting information into categories normally known as ‘’classes’’. With examples explain the nature and differences between revenue and capital ledgers  Using two revenue and capital ledgers, explain how you will treat them in the trial balance. Explain the treatment of the proprietor’s additional contribution to an already existing business. In addition, explain the underlying accounting principle you will apply in answering this question. Thames Cotton Mills…

All reconciling items are used to determine the adjusted cash balance per books require the account owner to make adjusting entries to it’s cash account. True or false?