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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

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3 years ago

What information should a resume provide?

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3 years ago

Scarlet Corporation, the parent corporation, has a basis of $600,000 in the stock of Brown Corporation, a subsidiary in which Sc

Anon25 [30]

Answer:

$950,000

Explanation:

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3 years ago

Given the following information for a retail company, what is the total cost of goods purchased for the period? Purchases discou

BigorU [14]

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3 years ago

On October 31, 2015, Damon Company's general ledger shows a checking account balance of $8,445. The company's cash receipts for

solniwko [45]

Answer:

Explanation:

Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smoothly manner.

There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.

The outstanding deposits is computed below:

= Company cash receipts - bank deposited

= $74,640 - $71,375

= $3,265

And, the outstanding checks is computed below:

= Company written checks - Processed by bank

= $72,515 - $71,270

= $1,245

The preparation of the bank reconciliation statement on October 31, 2015 for Damon Company's is presented in the spreadsheet. Kindly find the attachment below:

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3 years ago