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3 years ago

Please can u explain 5 types of ledgers

Business

2 answers:

horsena [70]3 years ago

8 0

Answer:

1. Sales ledger

2. Purchase ledger

3. Cash ledger

4. General ledger

GaryK [48]3 years ago

5 0

Answer:

What is professions in nepal

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A chocolatier produces truffles and sells each 1 pound box of truffles for $20. However, the chocolatier knows that some consume

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The correct option is (3).

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3 years ago

Several line items and account titles are listed below. For each, indicate in which of the following financial statement(s) we w

Ainat [17]

Answer:

a. Cash asset - Balance Sheet (BS) and Statement of Cash Flows (SCF)

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b. Expenses - Income statement (IS)

Expenses are deducted from revenue in the income statement to come up with Net Income.

c. Non-cash assets - Balance Sheet (BS)

Non-cash assets are recorded in the balance sheet as all assets are.

d. Contributed capital - Balance Sheet (BS) and Statement of stockholders' equity (SE)

Contributed capital from shareholders will appear in the equity section of the balance sheet and in the statement of equity.

e. Cash outflow for capital expenditures - Statement of Cash Flows (SCF)

This is a Cashflow statement entry under Investing activities.

f. Retained earnings - Balance Sheet (BS) and Statement of stockholders' equity (SE)

Retained earnings will go into the balance sheet and the statement of equity.

g. Cash inflow for stock issued - Statement of Cash Flows (SCF) and Statement of stockholders' equity (SE)

Cash inflow from stock issued will be recorded in the financing section of the cashflow statement as well as in the statement of stockholder equity.

h. Cash outflow for dividends - Statement of Cash Flows (SCF) and Statement of stockholders' equity (SE)

Cash outflow from dividends issued will be recorded in the financing section of the cashflow statement as well as in the statement of stockholder equity.

i. Net income - Income statement (IS), Statement of Cash Flows (SCF) and Statement of stockholders' equity (SE)

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6 0

3 years ago

Sheridan Company had the following assets on January 1, 2022. Item Cost Purchase Date Useful Life (in years) Salvage Value Machi

Vlad [161]

Answer:

Jan 1

Dr Accumulated depreciation equipment 64,000

Cr Equipment 64,000

June 30

Dr Depreciation expenses 3,000

Cr Accumulated depreciation equipment 3,000

June 30

Dr Cash 11,300

Dr Accumulated depreciation equipment

37,300

Cr Gain on disposal 25,600

Cr Equipment 23,000

Dec 31

Dr Depreciation expenses 3,300

Cr Accumulated depreciation truck 3,300

Dec 31

Dr Loss on disposal of truck 9,600

Dr Accumulated depreciation 19,800

Cr Equipment 23,400

Explanation:

Sheridan Company Journal entries

Jan 1

Dr Accumulated depreciation equipment 64,000

Cr Equipment 64,000

June 30

Dr Depreciation expenses 3,000

Cr Accumulated depreciation equipment 3,000

June 30

Dr Cash 11,300

Dr Accumulated depreciation equipment

($23,000+$3,000+$11,300) 37,300

Cr Gain on disposal 25,600

Cr Equipment 23,000

Dec 31

Dr Depreciation expenses 3,300

($29,400-$3,000)/8

Cr Accumulated depreciation truck 3,300

Dec 31

Dr Loss on disposal of truck 9,600

($29,400- $19,800)

Dr Accumulated depreciation 19,800

($3,300×6)

Cr Equipment 23,400

8 0

3 years ago

Please can u explain 5 types of ledgers​

Please can u explain 5 types of ledgers