6 schedule of accounts receivable any journal used

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_ __ _ 6. Schedule of accounts receivable Any journal used for recording and posting transactions of a similar type. _ __ _ 7. Controlling account A general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger. _ __ _ 8. Compatibili ty principle A list of each customer from the accounts receivable ledger with their balances and the total. _ __ _ 113.A company entered into the following transactions. Match each transaction with the appropriate journal. 1. General journal Borrowed $5,000 cash from the bank. ___ _ 2. Cash receipts journal A customer returned a $250 item purchased on account. ___ _ 3. Cash receipts journal Purchased merchandise on account, $2,700. ___ _ 4. Purchases journal Purchased a display rack on account for $4,700. ___ _ 5. Purchases journal Paid $65,000 cash in wages and salaries. ___ _ 6. General journal Paid a utility bill for $3,400 cash. ___ _ 7. Cash disbursements journal Purchased $1,590 of store supplies on account. ___ _ 8. Cash disbursements journal Recorded depreciation on store equipment of $4,000. ___ _ 9. General journal Returned defective inventory purchased on account, $2,900. ___ _ 10. Purchases journal Recorded cash sales of $14,700. ___ _
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114.A company entered into the following transactions. For each transaction, indicate the appropriate journal. 1. General Journal Purchased merchandise for cash. ___ _ 2. Cash Receipts Journal Sold merchandise for cash. ___ _ 3. Cash Receipts Journal Purchased merchandise on credit. ___ _ 4. Sales Journal Sold merchandise on credit ___ _ 5. Cash Receipts Journal Paid cash to settle the utility bill. ___ _ 6. Purchases Journal Owner invested more cash in the business. ___ _ 7. Cash Disbursements Journal Recorded depreciation for the period. ___ _ 8. Cash Receipts Journal Borrowed cash from the bank. ___ _ 9. Cash Disbursements Journal Bought store supplies for cash. ___ _ 10. Cash Disbursements Journal Customer sent in cash to settle an account receivable. ___ _ 115.List the five basic principles of accounting information systems. 116.What are the five basic components of accounting information systems 117.Explain the purposes, types, and uses of special journals 118.What are controlling accounts and subsidiary ledgers? What is the relationship between them?
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119.Discuss how technology based information systems affect accounting 120.What is the segment return on assets ratio? What is it used for? 121.Describe the posting process for special journals. 122.Explain how the amounts in the subsidiary ledgers are tested for accuracy. 123.Discuss the differences in the special journals between a company using a perpetual inventory system and one using a periodic inventory system. 124.What is purpose of footing and crossfooting the column totals in special journals
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125.Kim Jordan, founder of New Belgium Brewing Company , knew that accounting systems were important for success. Explain how Kim used an accounting system to assess business operations? 126.The following information is available for some of Kalo's segments (all amounts are in millions) a. Determine the segment return on assets for each geographic segment.
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  • Spring '10
  • Brown
  • Accounting, Sales Journal, CASH RECEIPTS JOURNAL, The special journal

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