Posts Tagged ‘Accounts’
where can i get the Accounts Payable Certification course?
I am living in Chennai (Tamilnadu, India). I have an experience in Accounts Payable and i would like to do some courses on accounts payable through online.
Please advice in India who is providing the certification courses like Accounts Payable, Receivable and General Ledger.
A ledger that list all accounts needed to prepare financial statement is called a(n)..?
A. balance sheet
B. general ledger
C. income summary
D. special amount column ledger
In recording the selected transactions and adjustments, indicate the titles of the general ledger accounts to?
A.Accounts Payable
B.Accounts Receivable
C.Allowance for Doubtful Accounts
D.Cash
E.Interest Expêns
F.Interest Revenue
G.Interest Payable
H.Interest Receivable
I.Misc. Administrative Expense
J.Notes Payable
K.Notes Receivable
L.Bad Debt Expense
Example: 0.Received the final payment on a promissory note
Dr D
Cr K, F
1-2.Recorded the adjusting entry for estimated uncollectible accounts
at the end of the fiscal period, based upon the allowance method
3-4.Wrote off the account of the bankrupt debtor (included in Allowance for Doubtful Accounts provision had been made in Question 1-2)
5-8.Recovered the bad debt written off in Question 3-4
9-10.Replaced a customer’s account receivable with a note receivable
How to combine accounts in MYOB
Since 2006 MYOB has allowed for combining general ledger accounts. This is an alternative option to deleting the account and will retain historical information. This video was developed by www.aniseconsulting.com.
all accounts with original balances in the general ledger appear on a company’s?
income statement
unadjusted trial balance
adjusted trial balance
post closing trial balance
HiTech Sales, Stock and Accounts Manager Software for Accounting, Inventory
Sales, Stock and Accounts Management Program is a very powerful tool for Invoicing, Inventory Control, Sales and Purchase Control and Accounting. With its powerful features it is ready to meet requirements of all types of business and trading houses specially the business houses with their large product and customer base. HiTech SSAM will streamline your business accounting in such a way that through improved management you will see the profitability of your business grow. The design of HiTech SSAM (Sales, Stock and Accounts Manager) is modular. The data from various modules flows in Accounts module and all your final reports are produced at a touch of a button. This modular program keeps detailed information about the Supplier, customer and accounts you deal with. Apart from the preparing and printing the vouchers HiTech Financial Accounting keeps your accounts uptodate without any effort. Numerous reports are available for viewing and printing where you can keep an eye on the vital indicators about your business. Being Window based HiTech Financial Accounting is in tune with the latest computer software technology and will be a long time companion to your profitable business.HiTech Web Portal Websites: www.HiTech-on-Web.com ** www.Accounts-on-Web.com ** www.e-trading.bz ** www.AccountingSoftware.bz ** www.OnlineAccounting.bz ** www.WebsiteDesign.bz ** www.SoftwareDevelopment.bz ** www.BusinessSoftware.tv ** www.BusinessAccounting.in ** www.FreeAccounting.in ** www …
General Ledger accounts are arranged in what order?
A. Chronological
B. Alphabetical
C. Financial Statement Oder
D. Order of appearance in Journal
How do you set up the cash disbursements journal, general ledger, and accounts payable ledger?
Using the given data create these journals: sales journal, purchases journal, cash receipts journal, cash disbursements journal, general journal, general ledger, accounts receivable ledger, accounts payable ledger, worksheet, income statement, statement of owner’s equity, balance sheet, post-closing trial balance, and schedule of accounts receivable and payable.
Given Data P07C:
COLO COMPANY
Inv. No. Check
Date Description Name or Date No. Terms Amount
May1 Paid rent (80% selling space, 20% office space) S&P Management Co. 3410 $3,710
2 Sold merchandise on credit (cost $4,100) Hensel Company 8785 2/10, n/60 6,100
2 Issued credit memo on returned merch. Knox, Inc. Apr. 28 175
Total selling price (gross) Knox, Inc. Apr. 28 4,725
3 Received credit memo on returned merch. Peyton Products Apr. 29 798
4 Purchased merchandise on credit Gear Supply Co. May 4 n/10 EOM 37,072
Purchased store supplies on credit Gear Supply Co. May 4 n/10 EOM 574
Purchased office supplies on credit Gear Supply Co. May 4 n/10 EOM 83
5 Received payment less discount and return Knox, Inc. Apr. 28 n/10 EOM ?
8 Paid inv. less 2 % discount and May 3 return Peyton Products Apr. 29 3411 ?
9 Sold store supplies for cash at cost 350
10 Purchased office equipment on credit Gear Supply Co. May 10 n/10 EOM 4,074
11 Received payment less discount Hensel Company May 2 ?
11 Purchased merchandise on credit Garcia, Inc. May 10 2/10, n/60 8,800
12 Received credit memo on returned merch. Gear Supply Co. May 10 854
15 Check issued for sales salaries Payroll 3412 5,320
Check issued for office salaries Payroll 3412 3,150
15 Cash sales for first half of month (cost $38,200) 59,220
16 Sold merchandise on credit (cost $1,890) Hensel Company 8786 2/10, n/60 3,990
17 Purchased merchandise on credit Fink Corp. May 14 2/10, n/60 13,650
19 Paid invoice less discount Garcia, Inc. May 10 3413
22 Sold merchandise on credit (cost $4,990) Lee Services 8787 2/10, n/60 6,850
23 Paid invoice less discount Fink Corp. May 14 3414 ?
24 Purchased merchandise on credit Gear Supply Co. May 23 n/10 EOM 8,120
Purchased store supplies on credit Gear Supply Co. May 23 n/10 EOM 630
Purchased office supplies on credit Gear Supply Co. May 23 n/10 EOM 280
25 Purchased merchandise on credit Peyton Products May 23 2/10, n/30 3,080
26 Sold merchandise on credit (cost $8,230) Crane Corp. 8788 2/10, n/60 14,210
26 Paid April electric bill Perennial Power 3415 1,283
29 Issued check to owner for personal use Jenny Colo 3416 7,000
30 Received payment less discount Lee Services May 22 ?
30 Check issued for sales salaries Payroll 3417 5,320
Check issued for office salaries Payroll 3417 3,150
31 Cash sales for second half of month (cost $42,500) 66,052
Additional information:
a. Expired insurance $553
b. Ending store supplies inventory 2,632
c. Ending office supplies inventory 504
d. Estimated depreciation of store equipment 567
e. Estimated depreciation of office equipment 329
The general ledger account for Accounts Receivable shows a debit balance of $50,000. Allowance for Uncollectib?
The general ledger account for Accounts Receivable shows a debit balance of $50,000. Allowance for Uncollectible Accounts has a credit balance of $1,000. Net sales for the year were $485,000. In the past, 2 percent of net sales have proved uncollectible, and an aging of accounts receivable accounts results in an estimate of $13,500 in uncollectible accounts.
Using the percentage of net sales method, Uncollectible Accounts Expense would be debited for
A) $10,700.
B) $8,700.
C) $1,000.
D) $9,700.