Cash disbursement journal - Study guides, Class notes & Summaries

Journal Voucher is a document that is most often prepared for the _________ and ___________ processes - Perios-End Close, Year-end Close. Journal Vouchers are used to request an adjustment to accounting entries that have a direct impact on General Ledger balances for the Period-End Close and Year-End Close processes. The JV Workflow is the six step process by which JVs are requested, reviewed, approved, and posted to the G/L - True The Period-End Closing Process is a set of activities carr...

Forensic Accounting and Fraud Examination Midterm Exam Questions and Complete Solutions Forensic Accounting - Ans: Use of accounting knowledge or skill for courtroom purposes. Can therefore involve not only fraud, but also bankruptcy, business valuation, disputes, divorce, and other litigation. Fraud Examination - Ans: Involves obtaining documentary evidence, interviewing witnesses and potential subjects, writing investigative reports, testifying to findings, and assisting in the general d...

Bookkeeping - ANSWER-the activity of recording business transactions Double-entry bookkeeping - ANSWER-a system of recording and classifying business transactions that maintains the balance of the accounting equation General ledger - ANSWER-the ledger that contains all of the financial accounts of a business Cash receipts journal - ANSWER-a special journal used to record ONLY cash receipt transactions Cash disbursement journal - ANSWER-is a chronological listing of all payments SO...

NJ CALA FInanceCash Basis Accounting - correct answer Keeping records that shows only income actually received during a fiscal period and only expenses paid during a fiscal year. *Record income when cash or check is received *Record expense when check is written Accrual Basis Accounting - correct answer Keeping records that show all income earned during a fiscal period even though it isn't received yet and all expenses incurred during a fiscal period even though the expenses are not yet pa...

Fraud Examination Exam 1 Questions and Complete Solutions ____________________ is the theft of cash from a victim entity prior to its entry in an accounting system. A. fictitious disbursement B. Skimming C. Larceny D. Conversion - Ans: B Which of the following best describes the objective of a fraud examination? a. To make recommendations to management about how to prevent fraud b. To determine whether financial statements are free of misstatements due to fraud c. To express an ...

NJ CALA Finance Exam Review with 100% Correct Answers Cash Basis Accounting *Ans* Keeping records that shows only income actually received during a fiscal period and only expenses paid during a fiscal year. *Record income when cash or check is received *Record expense when check is written Accrual Basis Accounting *Ans* Keeping records that show all income earned during a fiscal period even though it isn't received yet and all expenses incurred during a fiscal period even though the...

7.33 Revenues are normally considered to have been earned when a. All possibility of return has expired b. The company has substantially accomplished what it must to be entitled to the benefits. c. The cash is collected. d. Goods have been shipped. - answer-b. Correct The earning process is complete at this point. 7.34 Sales are normally recorded on the date of the a. Customer purchase order. b. Bill of lading. c. Sales invoice. d. Payment check - answer-c. Corr...

SUA Exams and QuizzesIn the seven step-process for recording a transaction, the second step is finding the appropriate flowchart - correct answer T Nancy Ford is an hourly employee - correct answer T If you have a NO symbol on your transactions list document (on the left), you don't have to do an accounting entry. - correct answer F Assets recovery cycle, is one of the three cycles that will be completed in SUA - correct answer F One of the special journals provided to you is the Ac...

SUA Exams and Quizzes (2023/2024) Graded A+ In the seven step-process for recording a transaction, the second step is finding the appropriate flowchart T Nancy Ford is an hourly employee T If you have a NO symbol on your transactions list document (on the left), you don't have to do an accounting entry. F Assets recovery cycle, is one of the three cycles that will be completed in SUA F One of the special journals provided to you is the Accounts Receivables special journal. F You recognize...

Maintain function on the menu bar is used for correct answers Entering information The task function on the menu bar is used for correct answers Entering transactions All ID codes in sage are correct answers Case sensitive The reasons that you back up your data in sage 50 is all but which of the following? correct answers To save your transaction as you enter them Which of the following is not a purpose of the chart of accounts correct answers To prove debits equals credits Why is...