Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help on questions 46, 48, and 49 (all questions are related to Quickbooks Online). Also, all information needed in answering these three questions can

Need help on questions 46, 48, and 49 (all questions are related to Quickbooks Online). Also, all information needed in answering these three questions can be found within the screenshots below. If, however, you need any more information, do not hesitate to let me know! Thank you!!

image text in transcribedimage text in transcribedimage text in transcribed
Question 46: The last two steps of the accounting cycle deal with: Answer: A. A making journal entries B. A closing the books at the end of the fiscal period c. A assembling source documents D. A analyzing transactions Question 48: Why does QuickBooks warn you if you attempt to enter a transaction that took place before the closing date? Answer: A. A QuickBooks Online is not backwards compatible. B. A You will have to run an adjusted trial balance. c. A It could affect your inventory. D. A The transaction would affect the books for a closed period. Question 49: What step of the accounting cycle involves analyzing balances and making adjustments? Answer: A. Step 1 - financial transactions B. Step 2 - general journal C. Step 3 - general ledger D. Step 4 - trial balance E. Step 5 - financial statements

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

Authors: Charles T Horngren, Jr Walter T Harrison

2nd Edition

0135080193, 9780135080191

Students also viewed these Accounting questions

Question

3. Use personal best goals, not between-student competition.

Answered: 1 week ago