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n200080 [17]
3 years ago
7

When cash sales and bankcard sales transactions are recorded in the cash receipts journal, a check mark is placed in the Posting

Reference column to indicate the amounts are not to be posted individually.1. True2. False
Business
1 answer:
TiliK225 [7]3 years ago
8 0

Answer:

The answer is false.

Explanation:

If a a check mark is placed in the Posting Reference column after the cash sales and bankcard sales transactions are recorded in the cash receipts journal, it means are the transactions have been posted to their respective accounts(i.e cash sales account and bank card sales account)

A check mark denotes 'YES'. or 'TRUE'.

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Nothing will change. Upper management must enthusiastically pursue the plan and create a culture for employees to follow
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During 2018, Deluxe Leather Goods issued 841,000 coupons which entitles the customer to a $4.20 cash refund when the coupon is s
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Answer:

$978,306

Explanation:

The computation of the unremembered liability coupons is shown below:

= (Number of coupons issued × redeemed coupon percentage) - (processed coupons) × worth of coupon

= (841,000 coupons × 73%) - (381,000 coupons) × $4.20

= (613,930 coupons - 381,000 coupons) × $4.20

= 232,930 coupons × $4.20

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We simply deduct the processed coupons from the redeemed coupons and then multiply it by the coupon worth

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Comment down below if you go to Carroll High School in Monroe La
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Which of the following serves as the justification for the periodic recording of depreciation expense? a. Association of efforts
SIZIF [17.4K]

Answer:

"B"

Explanation:

Depreciation is a practice of systematic allocation of the cost of an asset to the income generated over its useful life time , either on a straight line method or reducing balance.

As demanded by the matching concept of accounting , revenue are expected to be linked to associated expenses otherwise profit will end up being overstated and and management misinformed and wrong decisions likely to be taken

7 0
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The adjusted trial balance for Rowdy Profits Corporation reports that its equipment had cost $240,000. For the current year, the
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Explanation:

The reporting is shown below:

                                        Income statement

Particulars                  Amount                   Particulars                  Amount          

Depreciation

expense                      $28,800

                                            Balance sheet

Liabilities                    Amount        Assets                     Amount

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                                                Less: Accumulated

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Only these items would be displayed on the income statement and the balance sheet

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