When is the general journal used in a manual accounting information system? Provide some examples of transactions that would be recorded in the general journal.

Q: How do I properly journalize a accounting cycle?

A: Note: Journalizing is one of the steps of an accounting cycle. Hence, journalizing of accounting…

Q: What is Accounting Information System?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Which function do accounting information systems provide in current accounting procedures

A: An accounting information system (AIS) constitutes of gathering, storage, and processing of…

Q: Why are traditional accounting events such as recording a transaction in a journal or posting to…

A: The traditional accounting events such as recording transaction in a journal not modelled in REA…

Q: Which of the following is a feature of the transaction file? Conceptually similar to the ledger in…

A: A transaction file is the file which contains the list of transactions. It is used to update the…

Q: users of accounting information

A: The financial information is presented in the financial statement of the company that reflect the…

Q: Explain the accounting processing cycle.

A:

Q: What role does an Accounting Information System play in today's accounting?

A: The accounting information system is a way to keep the track of all the business transactions and…

Q: Distinguish between Opinions of the Accounting PrinciplesBoard and Accounting Standards Updates.

A: Accounting principles board: The accounting principles board was established as per the…

Q: A worksheet can be thought of as a(n) permanent accounting record. O part of the general ledger. O…

A: Worksheet means the sheet which is prepared to make few year end adjustment and find out the balance…

Q: What are some of the processes in accounting such as the accounting equation, the ledger general,…

A: Process is the action point in accounting where the raw data is provided by different sources and…

Q: The general journal organizes accounting information in:

A: In any business entity , whenever any event occurs or a transaction takes place it is recorded in a…

Q: describe the fl ow of information in an accounting system

A:

Q: The ledger that contains the financial statement accounts of a company is the Choose General journal…

A: In terms of accountancy,  a ledger can be defined as an accounting book that contains all…

Q: What is the journal entry for the following business transactions without the amount?

A: Journal means the book of prime entry where all entries are recorded in different pages. Ledger…

Q: Indicate the sequential order of the following steps in the accounting information processing cycle:…

A: The Sequence of the accounting procedure of recording, classifying, and summarizing in a significant…

Q: describe the process of recording business transactions using an accounting system based on the…

A: There are different processes of recording business transactions. One of them is an accounting…

Q: which internal users need the accounting information

A: Accounting information data is the data that emerges from business exchanges. When distinguished,…

Q: Users of accounting information can be identified as internal and external users. List two of users…

A: The 4 financial statement A balance sheet is a financial statement that represents the financial…

Q: Identify and discuss several professional organizations that play important roles in preparing…

A: The organizations listed below formulate and execute policies for the interest of investors in the…

Q: Name some users of accounting information.

A: Accounting is defined as an information system that reports the financial performance of a business…

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: = does an Accounting Information System play in

A: Accounting Information System (AIS):  It is a system that is designed to collect store and process…

Q: Who are the users of accounting information?

A: Users of accounting information means the stakeholders that will use the accounting information for…

Q: State two users of accounting information and what type of information they need.

A: There are various users of accounting information.

Q: Journal is the third step of accounting. Describe about the transaction in the journal and its…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: What does an effective accounting information system provide?

A: Accounting Information Systems:

Q: Which of the following journals is called an all-purpose journal? Please explain with full…

A: There are two journals. One is general journal and another is special journal.

Q: Required steps to complete a worksheet in accounting

A: Introduction Worksheet in accounting: Work sheet is the multiple column sheets which contains…

Q: Identify four kinds of external users and describe how they use accounting information.

A: External users of accounting information are those users which are from outside the organization and…

Q: Describe the flow of accounting information from the business transaction to the ledger.

A: The accounting process includes identifying, recording and classifying the business transactions.

Q: What type of journal entry system is applied when accounting follows IFRS?

A:

Q: The process of entering transactions in the journal is known in accounting as

A: The financial records of the organization are important in order to provide the overall information…

Q: What Accounting is, Accounting Uses and Types of Users of Accounting Information (Introduction +…

A: Accounting records the business transactions in a prescribed manner.

Q: List the four special journals often used in a manual accounting information system. What types of…

A: Special Journal: A special journal is an accounting journal used by an enterprise to record a…

Q: The users of accounting information can be classified into internal and external users. Clearly…

A: Accounting information is the information related to the concepts of accounting which are to be used…

Q: A worksheet can be thought of as a(n) optional device used by accountants. permanent accounting…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: In the accounting book-keeping process, what is the difference between the general journal and the…

A: General Journal The purpose of preparing the general journal entry which is the transaction which…