50.1K

Verified Solution

Link Copied!

Which general ledger accourt is sredited when inventory is received along with a bal from a vendor? Pibose add checkmarkoext to the correct answert(t) 1 Cash 2. Inventory 3 Supplies 4 Accounts Payable 0.6.26. Buls Which section of the Bill window used to enter the general ledger account to be debited for a service such as consulting fees? (Pease add chackmark nen ta the correct an wertis) 1 Category detais section - Category box 2 item details section. Productiservice bok 3 Category detals section - Description box 4 Merrio box Whichof the following bowes in the Aem details section of the gill window is a calculated fieid athe result of entries or default information in two or more other bowest. Pletse add anedriak nes in the correc anweris) 1 Quantify box 2. Rate box 3. Amount box 4 Description box 40.-3a. Cash Dishurtements Which account B debited when a transactori is processed uting the Fay thils window in Qoo? 1 Cash 2 - The approperate general ledjer expense or asset account 3 Accounes Payable 4 None of the abore - Q.6-36. Cash Disbursements Which account is credited when a trantaction is processed using the Check window? 1 Accounts Payable 2. The appropriategeneral ledger expense or asset account 3. Irventory 4 Checking(Cash) Q Q-6.3k cash Dishursements Which bution in the Hay tills inindow can be useo to disnlay onty bals due to a speofic vendon? 1 Filter button 2 Payment account drop-downt last button 3. Schedulespoyments online buton A All of the above can be used to displiwy blih due to a specific vendor. Q.643. Accounting Transactiors fwsulting from Processing Purchasing and Cash Disbursement Transactions Selext the proper accounting entry from the list provided, Irwentory was received but nat paid for on a purchase order. Payment teerms were 29, 10 , Net 30. Pease arid itecemaik nent ro the correct answer(s) 1 DRinventocy Asset and CR Cost of Goods Sold 2. DR inventory Asset and CR Accounts Payable: 3 DR Cost of Goods Sold and CR Accounts Payable 4. DR Imventory Asset and CRJob Materiats Select the proper accounting entiy frem the ist pronde-t. A purchase order for the purchase of inventory was prepaced and salved. 1 DR inventory Asset and CR Cost of Goods Sold 2. DR inventory Asset and CFe Cost of Goods soid 3. DR Cost of Goods Sold and CR Accounts Payable 5 None of the above (no accountics entry necessary) - Q.6-C Accounting Tramartions Resiating from Processing Purchasing and Cash Debbursement Transacuons 5 elect the proper accounting entry from the list provided, the ifventory teceived on a purchiase order was paid for within 20 days of the purchase, Payment terms ion invice were 2+10, Net 30 . 1 DR Accourts Payable and CR-Checking I CR Discounts Given 2. DYR Accounts Poyable and CR Cost of Goods Sold 3 DR Accounts Payable and CR Checking. 4 DR Cost of Goods Sold and CR Checking 5. None of the above: mades 1. Dr Uilities Telephone and CRSTecking 2 DRUthies- Felephone and CR Job Materials 3 De vellites and Crendeposited Funds recevid and pais or the same diy 1 DRLegeland Prolessonal fees Accounting and CF Checking 2 DHCheckinn and CR Accounts Pajable 3. DRfob experties and CR Checkieg 4 Dit Legal and Professinal Fees Accounting and CR/ob Expenses 1 Irvientory deciesse Accounis Papable decrease 2. Irventory decrease, Acoosints Payable increase 3. Imventary incresse. Accounts Paybble increase 4. Invertory increase. Nrounts Payabie decrease 5 Nostabldahyrecerds are aitected - Q.6-56. Subsdary Accoont Batances Akected by Processing Purchaling and Cash Disbursenvent Transactions Choobe the subsdiacy record or feconds affected by the transaction and the effect on each cencrease of decrearef from the lint provided. A purchase order for the purchare of ifwntory was prepared and syved. 1 Inventory decrease, Accounts Poyable decrease 2. Ifrventory decrease, Accounts Payable increase 3. Inventory increase, Accounts Payable decrease 4 Inventocy increase, Accounts ficceivable decrease 5 No subsidiary recerds are affected 1 Inventory decrease, Accounts Psyable decceave 2. Imentory increase. Accounts Payable decrease 3. Accocints Rayoble decrease only 4 Accounts Payable increase only. 5. No subsidiary lexords are affected - Q-6-5d Subsidury Account Ealances Affected by Ptocessing Purchaung and Cash Dobursement Transactions Choose the subsdary record or tecords atfected by the tranifaction and the effect on each (increase or decrease) from the Irst providet. An imbice was recelved and processed byt not paid for from Cal Gas \& Electric. The inwoice was for the current inonths pos and electric bull. Featir add thedimark next to the correct somedos 1 Accounts Payable increase only 2. Accounts Rayable decrease only 3 Necounts Payable increase, Unventory increase 4. Accounts Payable increase. Inventory decrease 5 No subsidery tecords are affected nank of Anyeity toc ita noter paybie was pald 1. Aceounts Paysbie decrrate only 2. Acepunts Payable increase ordy 13. Accounts Recomale decrease only 4 Aksounte flecervable increase anly 5. Nosubsidiary tecords ere ffected

Answer & Explanation Solved by verified expert

See Answer