What is the primary device that accountants use to record increases or decreases in the assets, liabilities
Question:
What is the primary device that accountants use to record increases or decreases in the assets, liabilities or owners’ equity portion of a business’s basic accounting equation?
a. Account
b. Schedule
c. Ledger
d. Journal
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting for the Hospitality Industry
ISBN: 978-1119386223
2nd edition
Authors: Lea R. Dopson, David K. Hayes
Question Posted:
Students also viewed these Business questions
-
What is the primary distinction between financial accounting and managerial accounting?
-
What is the primary distinction between Enterprise Funds and Internal Service Funds? What is the primary distinction between the General Fund and a Special Revenue Fund? What unique requirement,...
-
What is the primary use of personality traits?
-
In his senior year at Notre Dame, Chris Moore had been the third runner-up for the fabled Heisman Trophy. The trophy goes to the outstanding football player in America and is presented annually by...
-
On January 1, 2013, Garner issued 10-year, $200,000 face value, 6% bonds at par. Each $1,000 bond is convertible into 30 shares of Garner $2 par value common stock. The company has had 10,000 shares...
-
Let A denote an m n matrix. (a) Show that null A = null(UA) for every invertible m m matrix U. (b) Show that dim(null A) = dim(null (AV)) for every invertible n n matrix V.
-
Record entries for these transactions assuming the allowance method is used: Jan. 10 The $300 account of customer Cool Jam is determined uncollectible. April 12 Cool Jam unexpectedly pays in full the...
-
Brandt Company presents the following December 31, 2013, balance sheet: The following information is also available: 1. Current assets include cash, $3,800; accounts receivable, $18,500; notes...
-
Instructions Earnings for several employees for the week ended April 7, 20--, are shown: 1 24 5 Boyd, Glenda L. 4 Evans, Sheryl N. 5 Fox, Howard J. 6 Jacobs, Phyllis J. 1 Taxable Earnings...
-
Please solve this problem using C language Hacker Industries has a number of employees. The company assigns each employee a numeric evaluation score and stores these scores in a list. A manager is...
-
Which is the basic accounting equation that is applicable to every business? a. Assets = Liabilities + Owners Equity b. Assets = Owners Equity Liabilities c. Assets + Liabilities = Owners Equity d....
-
Which is the accounting summary that presents the financial condition, or financial health, of a business? a. Balance Sheet b. Income Statement c. Profit and Loss Statement d. Statement of Cash Flows
-
The weekly prices of one brand of frozen pizza over a three-year period in Montreal are provided in the data file. Use the price data to answer the following questions: a) Find the five-number...
-
Describe a simple common-emitter circuit with an npn bipolar transistor and discuss the relation between collector-emitter voltage and input base current.
-
Define Early voltage and collector output resistance.
-
Describe how a transistor can be used to amplify a time-varying voltage.
-
The National Football League (www.nfl.com) is considered the king of all professional sports in the United States. It was formed by eleven teams in 1920 as the American Professional Football...
-
Describe a bipolar transistor NOR logic circuit.
-
Yi Ltd. has the following opening account balances in its general and subsidiary ledgers on January 1 and uses the periodic inventory system. All accounts have normal debit and credit balances...
-
Which of the following is NOT a magnetic dipole when viewed from far away? a) A permanent bar magnet. b) Several circular loops of wire closely stacked together with the same current running in each...
-
Marcie Davies owns and operates Gemini Advertising Services. On January 1, 2015, Retained Earnings had a balance of $618,500. During the year, Marcie invested an additional $40,000 in exchange for...
-
Halibut Company purchased merchandise on account from a supplier for $18,600, terms 2/10, n/30. Halibut Company returned $5,000 of the merchandise and received full credit. a. If Halibut Company pays...
-
Sather Co. sold merchandise to Boone Co. on account, $31,800, terms 2/15, n/30. The cost of the merchandise sold is $19,000. Journalize the entries for Sather Co. and Boone Co. for the sale,...
-
Utility costs at one UISZ Power Corporation's factories are listed below: Machine hours Utility cost $ February 4221 39,308 March 4268 39,573 April 4234 39,392 May 4237 39,394 June 4299 39,787 July...
-
On July 1, 2017, Sunny Inc. borrowed $90,000 from Scuzz Bank on a 10 month, 6% note payable. Interest is payable on April 30, 2022, the due date of the note. Their accounting year ends January 31,...
-
A. Start with the journal papers tab, record the May transactions that occurred they are listed below in B. Each transaction does require an entry. Refer to the pages of t-accounts for a list of the...
Study smarter with the SolutionInn App