Quickbooks

How can you review a Transaction Report for any account when you are viewing the Balance Sheet? Select one: a. Click the balance in the account line of the Balance Sheet report to view the Transaction Report. b. Click the Report icon at the top of the Balance Sheet screen, then choose Transaction Report. c. Click Transaction in the account line of the Balance Sheet report to view the Transaction Report. d. None of these options. a

How are bank charges, which have not been recorded in QBO, classified? Bank charges which have not yet been recorded in QBO are not recognized and are temporarily classified as Uncategorized Expense. How are bank deposits, which have not been recorded in QBO, classified? Select one: a. Bank deposits which have not yet been recorded in QBO are temporarily classified as To Be Categorized Income. b. Bank deposits which have not yet been recorded in QBO are recognized and classified as ...

The order of the steps in the accounting cycle includes: Trial balance, adjusting entries, adjusted trial balance, financial reports What is an asset? What a company owns To record adjusting journal entries in QuickBooks, select: Accountant menu, Make General Journal Entries Examples of management reports for internal decision making include all of the following except 1120S Report

Data entry is the same in QuickBooks whether you use accrual or cash basis accounting True Always back up your company file to a location NOT on the same hard drive as the original file True The cash basis accounting means the sale transaction is recorded when the sale is made, and expenses are recorded when they are incurred False QuickBooks for Mac has the same basic look as the Windows version, but the functions are different False

The owner's drawing account should be transferred to capital each week. False Even if entered elsewhere, all transactions are recorded in the Journal. True You must access the General Journal in order to close a period. False

Describe the process for increasing or decreasing the width of a column in the listing of bills to pay. Select one: a. Click and hold your mouse between two columns and drag to the left to decrease the width of a column and drag to the right to increase the width of a column. b. Hover your mouse over the column to see a menu with the options to increase or decrease the width of the column. c. None of these options. a

In a sole proprietorship, equity is what shareholders have invested in the company False Amortization is the process of a balance increasing over time False Treating bad debt as a discount is recommended because it reduces sales tax liability False A fixed asset is something you DON'T plan to use up or turn into cash within the next year True

Receipt of purchase order items is never recorded before the bill arrives. False A bill can be paid by check or credit card. True The Cost of Goods Sold account Merchandise Discounts is used to record discounts to customers. False

1.The Cost of Goods Sold in the Profit and Loss account increases when you sell a product. True 2: There is no limit to the number of inventory products you can enter in QuickBooks Online. True 3: The difference between the cost and the sales price is an expense. false

How are bank charges, which have not been recorded in QBO, classified? Bank charges which have not yet been recorded in QBO are not recognized and are temporarily classified as Uncategorized Expense. How are bank deposits, which have not been recorded in QBO, classified? Select one: a. Bank deposits which have not yet been recorded in QBO are temporarily classified as To Be Categorized Income. b. Bank deposits which have not yet been recorded in QBO are recognized and classified as ...