Quickbooks chapter 6 - Study guides, Class notes & Summaries

QuickBooks Online - Chapter 6 Questions and Answers Graded A+ Operating Activity Sales receipt Investing Activity Purchase of common stock Financing Activity Sale of a common stock Fixed Assets Long-term tangible property that a firm owns Long-term investment A financial instrument that matures in more than 1 year Common Stock A stockholders' equity account

QuickBooks Chapter 06 Questions and Answers Already Passed 1. Before completing the work within Chapter 6, check your data with the following report: a. December 1 Trial Balance. b. December 31 Trial Balance. c. November 30 P&L. d. November 1 Balance Sheet. e. None. December 1 Trial Balance. 2. The action of sending money in payment of a bill is called a/an: a. Activity. b. Transaction. c. Remittance. d. General journal entry. e. None. Remittance. 3. After analyzing each source doc...

QuickBooks Chapter 6 Questions and Answers Already Passed 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 Voiding a purchase order removes every trace of the purchase order from the company records. False The Vendor Center displays the vendor list and information about individual vendors. True A single purc...

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

QuickBooks Chapter 6 Test with Certified Solutions The Inventory Part window consists of two sides: one for sales information and one for purchase information True Inventory tracking is automatically activated when you create a company file False In QuickBooks, non-inventory parts are tracked in the same way as inventory parts False QuickBooks automatically creates your Sales Tax Liability account for you True You can set a default tax rate for the company but NOT for individual customers...

QuickBooks Quiz Chapter 6 (2022/2023) Already Passed What are the two methods of New Company Setup in QuickBooks? Detailed Start and Express Start What is the QuickBooks EasyStep Interview window designed to do? helps you create and set up a new company file In addition to selecting the method of New Company Setup, what is the QuickBooks Setup window designed to do? allows you to enter information on customers, vendors, service items, and inventory part items After completing the EasySt...

QuickBooks Chapter 9 Test with Complete Answers 1: One advantage to customizing reports is that doing so makes the weekly or monthly reports consistent. True 2: You can create unlimited custom fields in a sales form. False 3: When you customize a field on one sales form, the change is applied to all sales forms, such as sales receipts and estimates. True 4: Privacy mode hides financial information only on the Dashboard. True 5: The Apps center link is found on both the Tools and the Pref...

The Inventory Part window consists of two sides: one for sales information and one for purchase information True Inventory tracking is automatically activated when you create a company file False In QuickBooks, non-inventory parts are tracked in the same way as inventory parts False