FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For this discussion, assume that the company in question uses special journals, as well as, the general journal to record transactions.In addition to the general

For this discussion, assume that the company in question uses special journals, as well as, the general journal to record transactions.In addition to the general ledger, the company also uses subsidiary ledgers.

When a general journal is used to record sales returns, the credit of the entry must be posted twice.Does this cause the trial balance to be out of balance?Explain.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and Managerial Accounting

Financial and Managerial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

3rd edition

978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132

More Books

Students also viewed these Accounting questions

Question

★★★★★
A horizontal pipe carries oil whose coefficient of viscosity is 0.00012 N s/m2. The diameter of the pipe is 5.2 cm, and its length is 55 m. (a) What pressure difference is required between the ends...

Answered: 1 week ago

Question

★★★★★
What percent of a standard Normal model is found in each region? Be sure to draw a picture first. a) z 7 -1.5 b) z 6 1.75 c) -2 6 z 6 1.35 d) z 7 0.35

Answered: 1 week ago

Question

★★★★★
Summarize the general methodological guidelines for qualitative research.

Answered: 1 week ago

Question

★★★★★
The International Bank of Commerce (IBC) is an audit client of your public accounting firm. IBC is a multinational financial institution that operates in 23 countries. During the current years audit,...

Answered: 1 week ago

Question

★★★★★
Margin of Safety Head-First Company plans to sell 5,210 bicycle helmets at $74 each in the coming year. Unit variable cost is $45 (includes direct materials, direct labor, variable factory overhead...

Answered: 1 week ago

Question

★★★★★
Merchant van der Stede deals with different types of control systems and when a control system can be seenas "tight". Explain and discuss what cultural management needs to include before it can be...

Answered: 1 week ago

Question

★★★★★
Answer the question in terms of kN for the last picture no need to do the other ones with the solution. In problem 2-23, a round tube section 3 mm thick was one of the options to prevent buckling. If...

Answered: 1 week ago

Question

★★★★★
Question 1 (6 marks) Two cables are attached to a wall by a pin at O with the tensions in the cables adjusted to 450 N and 500 N as shown in the following diagram. 450N 30 500N Use the method of...

Answered: 1 week ago

Question

★★★★★
Many people have argued that the continuum of processes described by Garvin is outdated and does not apply to digital businesses. Very often digital businesses do not have equipment, or raw material,...

Answered: 1 week ago

Question

★★★★★
Dispatch Software Solutions Tugboats might seem like the last place to look for innovative information technology. But Control Software Group recognized the potential of information technology to...

Answered: 1 week ago

Question

★★★★★
7. Suppose a student has no more than t minutes to write an examination consisting of two questions, 1 and 2. He receives A points if he gets question 1 correct and B points if he gets question 2...

Answered: 1 week ago

Question

★★★★★
The following data were taken from the income statements of Oriole Company. 2022 2021 Sales revenue $6,407,000 $6,123,000 Beginning inventory 962,200 857,300 Purchases 4,757,840 4,653,650 Ending...

Answered: 1 week ago

Question

★★★★★
8. Give three examples of how the level of confidence one has in someone can affect a communication situation.

Answered: 1 week ago

Question

★★★★★
7. List examples from a communication situation with a foreign person in which you have used the sauna manoeuvre (described in this chapter), and examples where you have been subjected to the...

Answered: 1 week ago

Question

★★★★★
1. To provide an understanding of how trust is established in a communication context.

Answered: 1 week ago

Previous Question Next Question