Journal entries Study guides, Class notes & Summaries

Journal Entries Practice Borrowed cash of $20,000 from CIBC - correct answer Debit Cash $20,000, Credit Accounts Payable $20,000 Made cash sales of $14,500 to customers - correct answer Debit Cash Sales $14,500, Credit Sales Revenue $14500 Paid salaries of $8,600 to employees for services performed - correct answer Debit Salaries $8600, Credit Cash $8600 Purchased and used $4,100 of supplies in operations of the business - correct answer Debit Inventory $4100, Credit Cash $4100 Borr...

MHA 625 Health Care Financial Management 1 Exam 1 Latest Questions and Answers 2023-2024. MHA 625 Health Care Financial Management 1 This exam is divided into three sections: - Section A (20 points): Perform the mechanics of accounting processes included in the creation of recording transactions via journal entries. - Section B (45 points): Recognize and construct the three-main corporate financial statements. - Section C (35 points): Analyze the financial statements. Section A: Record...

MIE 201 Test 5 accounting - correct answer the recording, measurement, and interpretation of financial information certified public accountant (CPA) - correct answer an individual who has been state certified to provide accounting services ranging from the preparation of financial records and the filing of tax returns to complex audits of corporate financial records forensic accounting - correct answer accounting that is fit for legal review, involves analyzing financial documents in sea...

Quickbooks online questions and answers latest updated 2023 What lists can be imported from Excel spreadsheets, when setting up a QuickBooks online company? Chart of accounts, Customers, Products and Services, and Vendors Which of the following is TRUE regarding your chart of accounts, when setting up a new QuickBooks company? It is possible to add more accounts after starting a new company What company information does QuickBooks ask for when you first create a new QuickBooks o...

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Scott's Camera Shop started the year with total assets of $80,000 and total liabilities of $40,000. During the year, the business earned revenues of $120,000 and incurred expenses of $70,000. Scott made no additional capital contributions during the year, but did make withdrawals of $60,000. What is the amount of owner's equity at the end of the year? A) $120,000 B) $70,000 C) $60,0...

Journal Entries Exam Guide Test. Borrowed cash of $20,000 from CIBC - correct answer Debit Cash $20,000, Credit Accounts Payable $20,000 Made cash sales of $14,500 to customers - correct answer Debit Cash Sales $14,500, Credit Sales Revenue $14500 Paid salaries of $8,600 to employees for services performed - correct answer Debit Salaries $8600, Credit Cash $8600 Purchased and used $4,100 of supplies in operations of the business - correct answer Debit Inventory $4100, Credit Cash $4100...

Journal Entries Practice Question and answers 2023/2024 verified to passBorrowed cash of $20,000 from CIBC - correct answer Debit Cash $20,000, Credit Accounts Payable $20,000 Made cash sales of $14,500 to customers - correct answer Debit Cash Sales $14,500, Credit Sales Revenue $14500 Paid salaries of $8,600 to employees for services performed - correct answer Debit Salaries $8600, Credit Cash $8600 Purchased and used $4,100 of supplies in operations of the business - correct answer D...

General Ledger: What rolls an account's ending balance, for each reporting period into the retained earnings accounts, effectively making the balance forward for the account zero? Correct Answer Non-closing accounts General Ledger: What GL configuration option prevents users from entering a journal entry or other transaction that does not balance for the current dimension? Correct Answer Enforce JE balancing General Ledger: What does an entity translate to for transacting in a multi-entit...

AQA A-level ACCOUNTING 7127/1 Paper 1 Financial Accounting Version: 1.0 Final *jun* IB/G/Jun23/E14 7127/1 A-level ACCOUNTING Paper 1 Financial Accounting Friday 26 May 2023 Morning Time allowed: 3 hours Materials For this paper you must have: • a calculator. Instructions • Use black ink or black ball-point pen. • Fill in the boxes at the top of this page. • Answer all questions. • You must answer the questions in the spaces provided. Do not write outside the box...

Sage Intacct Implementation Test Questions And Answers General Ledger: What rolls an account's ending balance, for each reporting period into the retained earnings accounts, effectively making the balance forward for the account zero? - ANSWER- Non-closing accounts General Ledger: What GL configuration option prevents users from entering a journal entry or other transaction that does not balance for the current dimension? - ANSWER- Enforce JE balancing General Ledger: What does an enti...