100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
QuickBooks chapter 10;QuickBooks chapter 10; Questions and Answers…Grade A+ Many companies maintain two checking accounts, one for paying bills and one used exclusively for payroll As a business grows in complexity, the need for special purpose accounts$13.99
Add to cart
QuickBooks chapter 10;QuickBooks chapter 10; Questions and Answers…Grade A+ Many companies maintain two checking accounts, one for paying bills and one used exclusively for payroll As a business grows in complexity, the need for special purpose accounts
4 views 0 purchase
Course
QuickBooks
Institution
QuickBooks
QuickBooks chapter 10; Questions and
Answers…Grade A+
Many companies maintain two checking accounts, one for paying bills and one
used exclusively
for payroll
As a business grows in complexity, the need for special purpose accounts
grows accordingly.
The process of determining the corre...
QuickBooks chapter 10; Questions and
Answers…Grade A+
Many companies maintain two checking accounts, one for paying bills and one
used exclusively
for ✔✔payroll
As a business grows in complexity, the need for special purpose accounts
✔✔grows accordingly.
The process of determining the correct cash balance in an account by comparing
company
records with the bank statement is called a(n) ✔✔bank reconciliation.
In accounting terms, the movement of money from one account to another is
called a(n)
✔✔transfer
In a manual accounting system, a transfer from a company's operating account is
usually
recorded in the ____ journal ✔✔cash payments
, QuickBooks chapter 10; Questions and
Answers…Grade A+
In a manual accounting system, when a transfer out of one cash account is
recorded in the
general journal, the corresponding transfer into another cash account is
recorded in the ____
journal. ✔✔general
In QuickBooks, transfers between bank accounts are recorded in the ____
window, unless the
transfer is done by check ✔✔Transfer Funds Between Accounts
Balance differences identified during a bank reconciliation fall into three
categories: ✔✔timing
differences, omissions, and errors.
Using QuickBooks' Enter Credit Card Charges window to immediately record a
company's credit
card charges ensures that ✔✔the expenses are recorded in the proper time
period.
, QuickBooks chapter 10; Questions and
Answers…Grade A+
A check written and recorded by the company but not yet paid by the bank is
referred to as a(n)
✔✔outstanding check.
In QuickBooks, when you write a check from one cash account to deposit into
another cash
account, you use the ____ window. ✔✔Write Checks
Besides allowing you to identify the source and receiving accounts, the Transfer
Funds window
also shows you the ✔✔balance of the source account.
When you transfer funds from one cash account to another via an online
banking transaction, you
record the transaction in QuickBooks in the ____ window. ✔✔Transfer Funds
What is the purpose of the reconciliation procedure in QuickBooks? ✔✔To
ensure that a
company's cash records are correct
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller KarmaScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
