Explain how data flows through the accounting system

This preview shows page 5 - 7 out of 9 pages.

26.Question: Explain how data flows through the accounting system.
Points Received:(not graded)27.Question: The last step in the journalizing process is to_______.
Points Received:1 of 128.Question: The payment of the owner’s personal expenses from the business’s checkbook should be recorded with a debit to_______.
Points Received:1 of 129.Question: The account debited when supplies are purchased for cash is_______.
Page 5 of 9SHANNA HAWXHURST: Week 2 Quiz
Points Received:1 of 130.Question: The account credited when cash is received from a customer on account is_______. Your Answer:cashaccounts receivableCORRECT ANSWERaccounts payableservice revenueINCORRECT
Points Received:0 of 131.Question: The account debited when payment is made for equipment purchased previously on account is_______.
Points Received:1 of 132.Question: The payment of salaries to employees would_______.
Points Received:1 of 133.Question: Performing a service for cash would_______.
CORRECTPoints Received:1 of 1

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture