The writer is very fast, professional and responded to the review request fast also. Thank you.
Presentation/PPT
27/08/2022
Question:The Cash Disbursements Journal is also known as the Cash Payments Journal.
True
False
The Vendors’ subsidiary ledgers support the Accounts Receivable general ledger account.
True
False
The purpose of the Cash Disbursements Journal is to record all the cash receipts for the period.
True
False
The entry to record the cash payment for the purchase of office furniture will include a credit to the Cash account.
True
False
When merchandise inventory was purchased for cash, the Inventory account will be debited under the perpetual inventory system.
True
False
When a company pays within the discount period, under perpetual inventory system, the discount amount is credited to the Inventory account.
True
False
The purchase of Office Supplies for 1,000.00 for cash will involve a debit to Cash for $1,000.00.
True
False
The subsidiary accounts for the Accounts Payable general ledger accounts are the customers’ accounts.
True
False
To pay the employees salaries for 2,800.00, the entry will include a debit to Cash for $2,800.00.
True
False
The voucher system is a set of accounting procedures designed to provide the control of cash receipts.
True
False
Table 1: On February 1, Company E purchased $9,500.00 worth of inventory on terms: 2/10, n/30, FOB Shipping Point on account from Company F. The Freight Charges are $200.00. On February 2, Company E returned $500 worth of merchandise purchased to Company F. The company uses perpetual inventory system.Refer to Table 1, the entry on Feb. 10 to pay the purchase made by Company E will include:
Debit to Cash for $9,700.00
Credit to Accounts Payable for $9,500.00
Credit to Accounts Payable for $9,200.00
Debit to Accounts Payable for $9,200.00
Debit to Cash for $9,200.00
Table 1: On February 1, Company E purchased $9,500.00 worth of inventory on terms: 2/10, n/30, FOB Shipping Point on account from Company F. The Freight Charges are $200.00. On February 2, Company E returned $500 worth of merchandise purchased to Company F. The company uses perpetual inventory system.Refer to Table 1, except that Company E uses the periodic inventory system. The entry to pay the purchases on Feb. 10 will include:
Credit to Cash for $9,700.00
Debit to Accounts Payable for $9,200.00
Credit to Purchases for $9,500.00
Debit to Cash for $9,500.00
Credit to Inventory for $9,700.00
The writer is very fast, professional and responded to the review request fast also. Thank you.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more