All categories

3 years ago

Identify Postings from Cash Payments Journal

Business

1 answer:

Tasya [4]3 years ago

4 0

Answer:

Explanation:

The general ledger shows the record for every financial transaction which an organization does. The subsidiary ledger is just used to support the general ledger control account as it gives vital informations on sales, discounts, etc.

Based on the above explanation, the references, indicated by the letter will be posted thus:

a. This will be posted to the subsidiary ledger account.

b. This will be posted to the general ledger account.

c. This will be posted to the general ledger account.

d. This will be posted to the subsidiary ledger account.

e. This will be posted to the general ledger account.

f. This will be posted to the general ledger account.

g. This will be posted to the subsidiary ledger account.

h. This will be posted to the general ledger account

i. This will be posted to the general ledger account.

j. For this, there will be no posting required.

k. This will be posted to the general ledger account.

l. This will be posted to the general ledger account

You might be interested in

Under the accrual basis of accounting, many of the account balance in the ledger at the end of the accounting period are reporte

Helen [10]

Answer: 4. The expenses incurred during a period are matched with the revenues that those expenses generated.

Explanation:

The accrual basis of accounting works by matching accounting transactions to the period that they occur in. For instance, if revenue is sold in year 1 but the cash for it is only received in year 2, the revenue will be recorded for year 1.

The matching principle falls under the accrual basis and matches the expenses in a period to the revenue that the expenses generated in that same period. This is why the expenses in the income statement are only those that occurred in the current period and expenses for future periods are put in the balance sheet.

4 0

3 years ago

The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives eac

Masteriza [31]

Korea I think so the answer is d

3 0

3 years ago

A person who routinely buys goods in good faith from a person who routinely sells such goods.

Mazyrski [523]

They are considered a buyer in the ordinary course of business.

4 0

3 years ago

The employment rate has been going up for the past six months. To economists, this change in the unemployment rate is considered

nekit [7.7K]

Answer:

A. Coincident indicator

Explanation:

Option B is not the answer as the lagging indicator is the occurrence after the target variable has associated with the economy.

Option C is not the answer as the leading indicator is the changes before the beginning of the economic factor. It means it predicts economic activities.

Option D is not an economic indicator, so it is incorrect.

Option A is the answer because the employment rate and interest rate are examples of the coincident economic indicator. It occurs when both factors occur at the same time. It also suggests the current state of an economy.

7 0

3 years ago

Corporation produces a single product. The standard cost card for the product follows:

Likurg_2 [28]

Answer:

Results are below.

Explanation:

To calculate the direct material price and quantity variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (5 - 2.1)*56,100

Direct material price variance= $169,690 favorabe

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (8,840*4 - 36,450)*5

Direct material quantity variance= $5,450 unfavorable

To calculate the direct labor efficiency and rate variance, we need to use the following formulas:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (1.5*8,840 - 18,000)*10

Direct labor time (efficiency) variance= $47,400 unfavorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (10 - 8.2)*18,000

Direct labor rate variance= $32,400 favorable

8 0

3 years ago