The General Ledger Question: Can the General Ledger be represented in different formats? I have seen General Leders in the form of T-Accounts (which is often used for analysis) or in the standard form/double-entry. Just confused about this.

Q: Why are journals and ledgers not modeled in an REA diagram?

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Q: Provide an example of how paper-based accounting information systems are different from computerized…

A: Accounting information systems: Accounting information systems collects data from different events…

Q: What are the accounts written off? Explain with example?

A: Accounts written off means those debtors or accounts receivables from which money can no longer be…

Q: Define prepaid accounts? Give example?

A: Prepaid account: It is an account which records the prepayment transactions. From the buyer’s point…

Q: Which of the following events would be LEAST likely to be modeled in an REA diagram?a. customer…

A: Definition: REA model: The graphical representation which shows the re-engineered accounting system…

Q: Are purchasing and receiving functions separate from invoiceprocessing, accounts payable, and…

A: Invoice processing: It is a procedure to maintain the invoices of the organisation to ensure timely…

Q: What is the function of the Bill Window? What GL account is Bill Window associated with?

A: The Bill Window is a feature of modern accounting software that allows users to easily track and…

Q: Suggest five reasons why there might be a difference between the balance on the payables ledger…

A: Before reaching the difference between two , firstly we have to understand the meaning of the…

Q: What is the difference between the Metric System and the Imperial? Describe what an Orthographic…

A: As per our guidelines we are supposed to answer only one question (if there are multiple questions…

Q: What are some of the more common uses of data codes in accounting information systems?

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Q: dger turo

A: Explanation of Concept Ledger Posting : is the step in the process of preparing the books accounts…

Q: Suggest Four reasons why there might be difference between the balance on the receivable ledger…

A: A control account is a general ledger that contains a single debit or credit balance which is the…

Q: Accounting Information System is a option: a) manual system b) computer-cased system required:…

A: AIS (accounting information system) is defined as a system that contains various items of the…

Q: What is ledger account? Explain using illustrations.

A: There are many accounting journals maintained in a business to record all the transactions done in a…

Q: What are subsidiary ledgers and control accounts,and why are they used? Describe how they work.

A: An accounting ledger is an accounting account or record that keeps track of activities on the…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.