Statement about the daily posting of the sales journal, Accounting Basics

+44 141 628 6080
[email protected]

Statement about the daily posting of the sales journal

Which of the following is not a true statement about the daily posting of the sales journal?

a) There is no credit posting.

b) The invoice number supporting the sales transaction is posted to the reference column in the subsidiary ledger.

c) There is a debit posting to accounts in the accounts receivable subsidiary ledger.

d) The reference column in the sales journal is checked when the posting is complete for each entry in the journal.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Statement about the daily posting of the sales journal

Reference No:- TGS064546

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Determine the amount of depreciation expense

The equipment was used for 8,000 hours during 2006, 7,500 hours in 2007, and 5,500 hours in 2008. Instructions Determine the amount of depreciation expense for the years ended December 31, 2006.

Q : Report in the statement of activities

Scholarships, for which no services were required, were awarded in the amount of $1,400,000. The net tuition and fees that would be reported in the Statement of Activities would be:

Q : How much cash is budgeted to be paid in operating costs

How much cash is budgeted to be paid in February for operating costs?

Q : Receivables turnover and the average collection period

Winter corporation has issued common stock only. The company has been successful and has a gross profit of 20%. The information show below was taken from the company's financial statements. receivables turnover and the average collection period.

Q : Statement about the daily posting of the sales journal

Which of the following is not a true statement about the daily posting of the sales journal?

Q : Calculate the cost of equity using the dcf method

The expected return of the market is 15 percent, and Treasury bills are yielding 5 percent. The most recent stock price for Floyd is $52. (Do not include the percent signs (%). Round your answers to 2 decimal places. (e.g., 32.16))Calculate the co

Q : Investment in the tractor-trailer is closest to

The tractor-trailer would be used in the company's hauling business, resulting in additional net cash inflows of $24,000 per year. The internal rate of return on the investment in the tractor-trailer is closest to:

Q : Determine the tax consequences of the stock redemption

Determine the tax consequences of the stock redemption to White Corporation (E & P of $7 million), to Gray Corporation, and to Helen.

Q : Market price of nickels common stock

Nickels declared and paid $0.30 per share cash dividends on March 15, June 15, September 15, and December 15, 2008. Nickels reported net income of $320,000 for the year. At December 31, 2008, the market price of Nickels common stock was $24 per sh

1936209

Questions
Asked

3,689

Active Tutors

1431669

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Statement about the daily posting of the sales journal

Reference No:- TGS064546

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Determine the amount of depreciation expense

Q : Report in the statement of activities

Q : How much cash is budgeted to be paid in operating costs

Q : Receivables turnover and the average collection period

Q : Statement about the daily posting of the sales journal

Q : Calculate the cost of equity using the dcf method

Q : Investment in the tractor-trailer is closest to

Q : Determine the tax consequences of the stock redemption

Q : Market price of nickels common stock

Discuss use of electronic devices like social media

What options is true in relation to validity

Reviewing your cliftonstrengths themes

Why consciousness is an especially important

Comment on parenthetical style

What when a counselor asks a client to pretend to interview

Defining characteristic of permissive-indulgent parents

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Statement about the daily posting of the sales journal

Reference No:- TGS064546

Recent Questions Asked Accounting Basics

Q : Determine the amount of depreciation expense

Q : Report in the statement of activities

Q : How much cash is budgeted to be paid in operating costs

Q : Receivables turnover and the average collection period

Q : Statement about the daily posting of the sales journal

Q : Calculate the cost of equity using the dcf method

Q : Investment in the tractor-trailer is closest to

Q : Determine the tax consequences of the stock redemption

Q : Market price of nickels common stock

Asked Questions