Is it a good idea to forgo the journal and enter a transaction directly into the ledger?

Question:

Is it a good idea to forgo the journal and enter a transaction directly into the ledger? Explain your answer.

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

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting A Global Approach

ISBN: 9780395839867

1st Edition

Authors: Sidney J. Gray, Belverd E. Needles

See More Books

Question Posted: Jun 14, 2024 01:36 AM

See More Questions

Explain the four Intel x86 CPU General Purpose registers and itscomponents, also provide a diagram tosupport your explanation. 1 answer
Threat of Entrant Power of Supplier Competitive Rivalry Power of Buyer Threat of Substitutes
Solano Company has sales of $780,000, cost of goods sold of $510,000, other operating expenses of $38,000, average invested assets of $2,300,000, and a hurdle rate of 12 percent. Required: 1....
Air flows through the fine mesh gauze shown in the figure below with an average velocity of 1.50 m/s in the pipe. Determine the loss coefficient for the gauze. KL= i 8.1mm V = 1.5 m/s Water Gauze...
While it is too soon to fully determine the effects of the American Recovery and Reinvestment Act, some argue that the multiplier effects of this stimulus have been limited. a. Under what...
Would it be possible to show a profit for a year using absorption costing while showing a loss under direct costing? Explain. LO.1
You are given the following information: Material Rs. 120 per unit Labour Rs. 30 per unit Overheads Rs. 12 per unit Selling Price Rs. 270 per unit Fixed costs Rs. 14,00,000 Sales Rs. 40,50,000 During...
Marlys Consolidated has several divisions, two of which transfer their products to other divisions. The Mining division refines toldine, which it then transfers to the Metals division. The Metals...
Question 14 Not yet answered Marted out of P Pag question On Jant 2020, Sonar Company Purchase land by Issuing 3 years, 590,000 zero bearing Interest note when the effective interest rate is 8%....
In recording entries in a journal, which is written first, the debit or the credit? How is indentation used in the general journal?
What five steps are involved in analysing and processing a transaction?
Air enters a compressor at ambient conditions of 100 kPa and 20C at a rate of 4.5 m3/s with a low velocity, and exits at 900 kPa, 60C, and 80 m/s. The compressor is cooled by cooling water that...
Alves Berhad beroperasi dalam industri elektronik dan komputer. Pengurus Kewangan sedang dalam proses menyediakan penyata kewangan untuk tahun kewangan apabila dia tiba-tiba jatuh sakit. Anda telah...
1. First, calculate p, the probability of CHD-1 in each level of BP Status. Take advantage of the fact that the mean of a 0/1 variable is the probability or percentage of observations equaling 1. a....
Explain the different types of budgets commonly used by healthcare facilities: Annual budget Authorized personnel budget Capital budget Expenditure budget Statistical budget Revenue budget Cash...
Use the range rule of thumb to identify the values that are significantly low, the values that are signficantly high, and the values that are neither significantly low nor significantly high. A test...
Comprehensive Problem Bug - Off Exterminators ( Algo ) Bug - Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the...
Why would an employer risk the possibility of a lawsuit by providing a prospective employee with false information? One of the problems employers face is that it is not always clear what information...
r = 0.18 Find the coefficients of determination and non-determination and explain the meaning of each.
Cash from Operating Activities: ______________ Cash from Investing Activities: ______________ Cash from Financing Activities: ______________ Problem 2: Financial Ratios The GAP Macys 1 Current Ratio...
On January 1, 2021, Winky Enterprises issued 12% bonds dated January 1, 2021, with a face amount of $2,800,000. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market...
Using the following accounts and balances, prepare the stockholders' equity vection of the balance sheet. Pilty thousand shares of common stock are authorised, and 1,000 shares have been recoured,...

Is it a good idea to forgo the journal and enter a transaction directly into the ledger?

Question:

Step by Step Answer:

Financial Accounting A Global Approach

Students also viewed these Business questions