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Can a work sheet be used as a basis for posting adjustments to the ledger?
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Which one of the steps below is not aided by the preparation of the work sheet?
posting to the general ledger
The accounts payable ledger contains all of the balance sheet and income statement accounts.?
No, the AP ledger contains the listing of all the counterparties (e.g. vendors) the company owes money to. The AP ledger is what feeds AP on the balance sheet.
Does the balance sheet proves that the debits and credit equal in the general ledger?
yes
A report that lists charges payments and adjustments during a day is known as?
a day sheet.
Where will you put mortgage payable on a general ledger?
credit mortgage payable in the liability side of the balance sheet
Which one of the steps below is not aided by the preparation of the work sheet?
posting to the general ledger
What are the parts of a ledger sheet?
The ledger is the account sheet.
The principal ledger that contains all the balance sheet and income statement accounts is the general ledger?
general ledger
What does a pegboard system look like for a medical office?
A pegboard system can be used in a medical office without computer software to allow balancing of patient charges, insurance and patient payments, and any adjustments on a daily basis. A master ledger card is used per patient or patient family and used when charging for services or posting payments for which a patient might need a receipt. The master ledger then can be copied for patient statement purposes. The day sheet is the copy which has all the enteries on it and can be used for historical backup purposes. Shelley Lake Artus Medical Receivables Mangement, Inc. Royal Oak MI 48067
What is the primary ledger containing all the balance sheet and income statement accounts is the?
General Ledger
Balance sheet is?
A balance sheet is a ledger that records the checks and balances of all transactions.
Does an accounts payable ledger contain all of the balance sheet and income statements accounts?
No, the accounts payable ledger only contains information related to supplier accounts. The balance sheet and income statement accounts are contained in the general ledger.
The accounts payable ledger contains all of the balance sheet and income statement accounts.?
No, the AP ledger contains the listing of all the counterparties (e.g. vendors) the company owes money to. The AP ledger is what feeds AP on the balance sheet.
What does a balance sheet proves?
the debits and credits equal in general ledger
Does the balance sheet proves that the debits and credit equal in the general ledger?
yes
Which statements are prepared from the general ledger with no changes to the account balance?
balance sheet
How do you finalize the balance sheet in tally?
WE have to enter the all business transactions in journal proper, & we have to post these translation to the ledger & prepare trial balance with the help of debit credit totals without adjustment. after that we have to make some adjustments in expenses & income account it should be 0 balance.
