Account ledger - Study guides, Class notes & Summaries

Answers for the Final Exam of BBK99E1 Basic Bookkeeping Level 1: Practical Exam The following is the name of a schedule that includes every account required to create financial statements: - The General Ledger should be your CORRECT response. Rearranging journal entries and classifying them according to account means that: - you should be posting to the ledger with your CORRECT answer. A listing of the names of the accounts that a company has identified and made available for re...

SAP TS410 Certification Practice Exam V1 (Latest 2024/ 2025 Update) Qs & As| Grade A| 100% Correct (Verified Answers) Q: Which objects can be assigned to a Purch organization Answer: Plant and Vendor Q: Material master and Fixed asset are directly assigned to a ___________? Answer: Company Code Q: What happens when you post a goods issue for a delivery document in sales? Answer: - The billing list is updated - An accounting journal entry in created - Inve...

AIS Test 1 Questions with 100% Verified Correct Answers Complete General Ledger - Correct Answer contains summary-level data for every asset, liability, equity, revenue, and expense account Sequence Code - Correct Answer items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequence Audit Trail - Correct Answer Path of a transaction through a data processing system from point of origin to final output, or backwards from final output to point...

AIS Study Exam I Questions & Answers 2024/2025 How can the outline/summaries be useful? - ANSWERSIntroducing material, study checklist Relevance - ANSWERSMakes a difference in a decision; enhances decision making (predictive value, feedback value, timeliness) Reliability - ANSWERSAccuracy of information (verifiability, neutrality, faithful representation) Example from target breach. - ANSWERSHackers got customer name, credit card #, and pin Elements - ANSWERSData Characterist...

Bookkeeper Practice Test with Complete Solutions What is the main purpose of a general journal? The main purpose of a general journal is to record all types of transactions in chronological order before they are posted to individual ledger accounts. What does "depreciation" refer to in bookkeeping? Depreciation refers to the gradual reduction in the value of a fixed asset over time due to wear and tear or obsolescence. How is an expense invoice typically handled in bookkeepin...

Ayesha is a trader who maintains a full set of accounting records and prepares control accounts at the end of each month. She provided the following information for the month of August 2021. On 1 August $ Sales ledger control account debit balance 9 800 Sales ledger control account credit balance 420 Purchases ledger control account credit balance 7 700 Totals for the month Credit sales 88 850 Credit purchases 55 400 Cash purchases 1 860 Receipts from custom...

Intuit Certified Bookkeeping Professional Project Workbook First Edition Table of Contents Introduction 1 Best Practices Using LearnKey’s Online Training 2 Using This Workbook 3 Skills Assessment 4 Intuit Certified Bookkeeping Professional Video Times 5 Domain 1 Lesson 1 6 Fill-in-the-Blanks 7 Ethical Responsibilities 8 Accounting Equation 9 Important Financial Reports 10 Double-Entry Accounting and T-Accounts 11 Transaction Journal and General Ledger 12 Domain 1 Lesson 2 13 ...

Principles of bookkeeping controls Question and answers correctly solved 2024 Principles of bookkeeping controls - intro to control accounts – notes, Introduction to Record Keeping, Bookkeeping Basics, MED 109 Ch. 29 Receivable's ledger account - - correct answer A list of amounts owed by each individual credit customer at any particular point in time. An asset account so also starts as a debit. Receivables ledger control account - - correct answer Total owed by all credit custome...

PEREGRINE EXAM QUESTIONS AND ANSWERS 100% CORRECTPEREGRINE EXAM QUESTIONS AND ANSWERS 100% CORRECTPEREGRINE EXAM QUESTIONS AND ANSWERS 100% CORRECT What is a general ledger? - ANSWER-A general ledger account is an account or record used to sort, store and summarize a company's transactions. asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment liability accounts including Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Depos...

Accounts Payable Cert Practice Questions with Verified Solutions a company has a requirement to default the disbursement bank account when submitting a payment process request? (select 2) a. define the disbursement bank account to every supplier b. define the disbursement bank account to the payment method in payment default rules c. assign the disbursement bank account to users to have the payment process default the bank account d. create a payment process request template th...