Every transaction recorded in the cash payments journal includes a a. credit to Cash. b. debit to

Question:

Every transaction recorded in the cash payments journal includes a

a. credit to Cash.

b. debit to Accounts Receivable.

c. debit to Sales Discounts.

d. debit to Cash.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting

ISBN: 9780132439602

7th Edition

Authors: Charles T. Horngren, Walter T. Harrison

See More Books

Question Posted: Feb 02, 2024 05:01 AM

See More Questions

The Fashion Rack has a monthly accounting period. The firms chart of accounts is shown below and on the next page. The journals used to record transactions are the sales journal, purchases journal,...
1.Which of the following below is NOT an element of internal control? a. risk assesment b. monitoring c. information and communication d. behavior analysis ANSWER:D 2. Which of the following below is...
During September 2016, Interior Designs Specialty Shop, a retail store, had the transactions listed on pages 320-321. The general ledger accounts used to record these transactions are provided shown...
A puck on a horizontal, frictionless surface is attached to a string that passes through a hole in the surface, as shown in FIGURE 11-52. As the puck rotates about the hole, the string is pulled...
Compact Disc A compact disc (CD) stores music in a coded pattern of tiny pits 10-7 m deep. The pits are arranged in a track that spirals outward toward the rim of the disc; the inner and outer radii...
Let X ~ ^ be a chi-square variable with n degrees of freedom. Prove that E[X] = n.
Are the key management and technical personnel capable, and do they have a track record in the industry within which they must compete? LO.1
Pet Toys, Inc., expected to sell one plush toy for each two chew toys sold. Planned sales and variable costs for last year were as follows: During the year, a competitor came out with a similar plush...
Urban Landscaping Company provided services in the amount of $2,200 to customers on account. Whet journal entry should be made to record this transaction? Multiple Choice Account Service Revenue Cash...
When using a manual accounting information system, which of the following transactions would be recorded in the general journal? a. Depreciation of office furniture b. Cash payment of rent c. Sale of...
Centex Sound Systems purchased merchandise inventory costing $8,000 from Flower Co. on account. Where should Centex record this transaction, and what account is credited? a. Cash payments journal;...
Kylies Cookies is considering the purchase of a larger oven that will cost $2,200 and will increase her fixed costs by $59. What would happen if she purchased the new oven to realize the variable...
Write a java program that contain two overloaded methods that accepts two numbers or two characters representing a range example (11, 37) or (c, w) inputted by the user. The method generates a random...
Maggie could not conceive a child using natural means, so she sought out a woman who would donate an egg to be surgically implanted in Maggie. Which of the following items are deductible by Maggie in...
M corporation is subject to tax only in state b state b law provides for the use of federal taxable income before net operating loss and special deductions as the starting point for computing state...
Use Routh Criteria to determine the values of K needed for the system represented by the Characteristic Equation to be stable. (1 + K)s + (2K + 3)s + 2 3K = 0 Obtain the root locus plot for the...
Q7 a) Two forces equal to 2P and P act on a particle. If the first be doubled and second is increased by 12N, the direction of resultant remains unaltered. Find the value of P (5)
An air conditioner with refrigerant-134a as the working fluid is used to keep a room at 26oC by rejecting the waste heat to the outside air at 34oC. The room is gaining heat through the walls and the...
The area of square PQRS is 100 ft2, and A, B, C, and D are the midpoints of the sides. Find the area of square ABCD. B A
The Supreme Court in 1895 ruled that the income tax was unconstitutional because the tax needed to be apportioned among the states in proportion to their populations. Why would the requirement of...
Why was pay-as-you-go withholding needed in 1943?
Congressman Patrick indicates that he is opposed to tax proposals that call for a flat tax rate because the structure would not tax those individuals who have the ability to pay the tax. Discuss the...
Docs Auto Body has budgeted the costs of the following repair time and parts activities for 2009: Doc's budgets 6,000 hours of repair time in 2009. A profit margin of $7 per labour hour will be added...
QUESTION 28 In a perpetual inventory system, the cost of inventory sold is: Debited to accounts receivable. Debited to cost of goods sold. O Not recorded at the time goods are sold. O Credited to...
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $105,709 69,500 66,800 4,700 246,700 127,eee...

Every transaction recorded in the cash payments journal includes a a. credit to Cash. b. debit to

Question:

Step by Step Answer:

Accounting

Students also viewed these Business questions