A specialized accounting book for accumulating and posting business transactions into specific categories is a ledger.
<h3>What is a ledger?</h3>
A ledger is a specialized accounting tool. It can also be described as a financial book or computer program.
In the ledger, information from accounting journals is accumulated and posted into specific categories matching the type of accounts.
From the ledger, the trial balance is extracted, which forms the basis for preparing the financial statements that show an entity's financial profitability and position.
Thus, a specialized accounting book for accumulating and posting business transactions into specific categories is a ledger.
Learn more about the ledger accounts at brainly.com/question/17143087
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Not necessarily. Sure, there are some things where it is very clear what is right and wrong but there are so many situations where it is hard to differentiate between what is right and what isn't.
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Green Roof Inns is preparing a bond offering with a 6 percent, semiannual coupon and a face value of $1,000. The bonds will be repaid in 10 years and will be sold at par.-The correct statement is -<u>The bonds will sell at a premium if the market rate is 5.5</u>
Explanation:
The important point to be noted from the given question is that the bond is offered when the market rate is 6 percent.
So ,the bonds are said to selling at premium since the market rate has reduced from 6% to 5.5%
In this case it is right to say that -Green Roof Inns is preparing a bond offering with a 6 percent, semiannual coupon and a face value of $1,000. The bonds will be repaid in 10 years and will be sold at par.-The correct statement is -<u>The bonds will sell at a premium if the market rate is 5.5</u>
Answer:
b. $120,100.
Explanation:
The movements in the Inventories account over a period is as a result of goods manufactured (which results in an increase in the account balance) and goods sold ( which results in a decrease in inventory).
As such,
let the cost of goods sold be F
$30,200 + $114,500 - F = 24,600
$30,200 + $114,500 - 24,600 = F
F = $120,100
The cost of goods sold is $120,100.
Answer:
See explanation section
Explanation:
October 5 Merchandise Inventory Debit $4,700
Accounts Payable - Bramble Company Credit $4,700
<em>To record the merchandise Inventory purchase on account. As the company uses perpetual inventory system, merchandise inventory becomes debit instead of purchase account.</em>
October 8 Accounts payable Debit $720
Merchandise Inventory credit $720
<em>To record the return of defective goods to Bramble Company. (Using perpetual inventory system)</em>
