All categories

3 years ago

A checkmark in the PR column in the general journal means the?

Business

1 answer:

snow_lady [41]3 years ago

3 0

Answer: Option (D)

Explanation:

Checkmark in the post reference column of general journal refers to the fact that amount has been recorded in subsidiary ledger. As for each of the general ledger account there tends to lie a subsidiary ledger and the cumulative balance of the subsidiary ledger is also presented in balance sheet. For example, there are "n" number of the vendors in a business, but in the balance sheet only one account lies under the heading creditors. This is so, as posting entry the sub-ledger of the individual vendor is referred and accordingly, the cumulative balance of all vendors is presented in balance sheet as a final general ledger account.

You might be interested in

The government uses indexing to revise tax brackets so that workers do not pay higher taxes just because

Arturiano [62]

The answer to this statement is letter a. of individual income taxes. The government uses indexing to revise tax brackets so that workers do not pay higher taxes just because of individual income taxes. This is to ensure equality of income between workers.

3 0

3 years ago

One role of environmental science in the society

nalin [4]

To study and better the enviorment

3 0

3 years ago

Novak Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year

GenaCL600 [577]

Answer:

Feb 1=> Cash ( debit) = 2,444,000.

Prefered stock (credit) = 2,350,000.

Paid in capital in excess of par value-preferred stock(credit) = 94000.

July 1=> Cash (debit) = 3,500,000.

Prefered stock (credit) = 3,125,000.

Paid in capital in excess of par value-preferred stock(credit) = 375000.

Explanation:

(A). On FEB. 1, the accounts and Explanation is given below:

Cash ( debit) = 2,444,000 {that is from; 47,000 × $52}.

Prefered stock (credit) = 2,350,000 { that is from; 47,000 × $50}.

Paid in capital in excess of par value-preferred stock(credit) = 2,444,000 - 2,350,000 = 94,000.

(B). On JULY 1, the accounts and Explanation is given below;

"July 1 Issued 62,500 shares for cash at $56 per share."

=> Cash (debit) = 62500 × 56 = 3,500,000.

Prefered stock (credit) = 3,125,000 { that is from; 62,500 × $50}.

Paid in capital in excess of par value-preferred stock(credit) = 3,500,000 - 3,125,000 = 375,000.

7 0

3 years ago

Read 2 more answers

Assume that Jack, Hal, and Sophia enter into a valid contract for the sale of the restaurant and for the covenant not to compete

Andrei [34K]

Answer: C. Reformation

Explanation: A non-compete agreement or clause is a legal binding entered into by two or more parties which restricts the parties from being in competition with the other usually through the sale of similar product. However, in the context above, since the non-compete clause has been breached by Jack, and the judge feels the time constraint in the clause was unreasonably long, The reformation process will be best to remediate the situation, which refers to the change or alteration of the terms of an existing document using the judicial process and requires the conformation of the parties involved.

6 0

3 years ago

Lucy needs to buy a new laptop for her business, and she buys a particular brand even though it does not support the software t

yan [13]

Answer:

Bounded rationality.

Explanation:

Bounded rationality is the possibility that in decision-making, rationality of people is restricted by the data they have, the subjective impediments of their psyches, and the limited measure of time they need to settle on a decision.

7 0

3 years ago