Exam (elaborations)
Sage Questions & answers
Sage Questions & answers
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SageThe maintain function on the menu bar is used for: - ANS-Entering Information
The task function on the menu bar is used for: - ANS-Entering Transactions
All ID codes in Sage are: - ANS-Case sensitive
The reasons that you back up your data in Sage 50 is all but which of the following? -
ANS-To save your transactions as you enter them
Why do you restore your data? - ANS-If you had a natural disaster, if your computer
crashed, or if you worked off site.
Which of the following is not a purpose of the chart of accounts? - ANS-To prove debits
equal credits
Why is the correct classification for accounts critical when using computerized
accounting? - ANS-If the classification is incorrect, the accounting records will be
incorrect causing the financial statements to be incorrect.
Where do you go in Sage 50 to set the Accounting Period? - ANS-Both Tasks, System,
Accounting Period and Accounting Period at the top of the Navigators
If you do not see a GL account column on a sales invoice, you need to: - ANS-Click on
Options, Global and uncheck the hide A/R and Payroll accounts
What is the purpose of Analysis on the menu bar? - ANS-To see how the company is
doing through charts, graphs and ratios.
Record adjusting entries. - ANS-General Journal
Purchase of merchandise on account from a vendor. - ANS-Purchases Journal
Paid the government for the liability taxes. - ANS-Cash Disbursements Journal
Paid on the mortgage. - ANS-Cash Disbursements Journal
Received payment from a customer on account. - ANS-Cash Receipts Journal
, Received a credit memo from a vendor for the return of merchandise - ANS-General
Journal
Purchase of supplies for cash - ANS-Cash Disbursements Journal
Record the payroll for the week. - ANS-General Journal
Sale of merchandise on account to a customer. - ANS-Sales Journal
Paid the telephone bill. - ANS-Cash Disbursements Journal
Investment of equipment by the owner. - ANS-General Journal
Pay the vendor for a purchase on account. - ANS-Cash Disbursements Journal
Record the payroll tax expense for the week. - ANS-General Journal
Sale of merchandise for cash to customer - ANS-Cash Receipts Journal
Paid the dividends for the quarter. - ANS-Cash Disbursements Journal
Borrowed cash from the bank for a long-term note. - ANS-Cash Receipts Journal
Paid the employees. - ANS-Cash Disbursements Journal
Issue a credit memo to a customer for the return of damaged goods. - ANS-General
Journal
Purchase office supplies on account. - ANS-Purchases Journal
Paid the state for the sales taxes. - ANS-Cash Disbursements Journal
Account Number for Sales Discounts - ANS-40037
Account # for Accumulated Depreciation - Computer Equipment - ANS-10037
Account # for Note Payable - ANS-20037
Account # for Prepaid Insurance - ANS-10037
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