[Solved] The proper format for a journal entry inc

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 24, 2024

The proper format for a journal entry includes all of the following EXCEPT Question 5 options: the total amounts of debits must equal the total

The proper format for a journal entry includes all of the following EXCEPT

Question 5 options:

	the total amounts of debits must equal the total amount of credits.
	skip a line between transactions.
	the credit portion of the transaction is always first.
	listed in chronological order.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

The question you have provided is multiplechoice but is incomplete as its missing the answer you cho... 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

Step: 3

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

Survey of Accounting

Authors: Carl S Warren

5th Edition

ISBN: 9780538489737, 538749091, 538489731, 978-0538749091

More Books

Students also viewed these Accounting questions

Question

★★★★★

A probability distribution for the random variable X, the number of trials until a success is observed, is called the geometric probability distribution. It has the same criteria as the binomial...

Answered: 1 week ago

Question

★★★★★

Phthalic acid, H2C8H4O4, is a diprotic acid used in the synthesis of phenolphthalein indicator. Ka1 = 1.2 103, and Ka2 = 3.9 106.

Answered: 1 week ago

Question

★★★★★

Why is a depolarising agent usually chosen for administration before a non-depolarising agent?

Answered: 1 week ago

Question

★★★★★

A pharmaceutical company has a monopoly on a new medicine. Under pressure by regulators and consumers, the company is considering lowering the price of the medicine by 10 percent. The company has...

Answered: 1 week ago

Question

★★★★★

The proper format for a journal entry includes all of the following EXCEPT Question 5 options: the total amounts of debits must equal the total amount of credits. skip a line between transactions....

Answered: 1 week ago

Question

★★★★★

Diagnosing the type of change in your organisation Think about the most recent change that your organisation or an organisation with which you are familiar has gone through and answer the following...

Answered: 1 week ago

Question

★★★★★

Multi-step Income Statement and Adjusting Entries The Boston Trading Company, whose accounting year ends on December 31, had the following normal balances in its general ledger at December 31: Cash...

Answered: 1 week ago

Question

★★★★★

Exercise 1-15A (Algo) Preparing an income statement and a balance sheet LO 1-7 Mijka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting...

Answered: 1 week ago

Question

★★★★★

On December 31, Mars Company had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods. Prepare the December 31 adjusting entry to...

Answered: 1 week ago

Question

★★★★★

Required information Problem 4-3A Prepare the bank reconciliation and record cash adjustments (L04-5) [The following information applies to the questions displayed below.) The cash records and bank...

Answered: 1 week ago

Question

★★★★★

The real risk-free rate (r) is 2.8% and is expected to remain constant. Inflation is expected to be 7% per year for each of the next two years and 6% thereafter. The maturity risk premium (MRP) is...

Answered: 1 week ago

Previous Question Next Question