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What are the function of information systems in business?
Prepare customer quotesTake ordersCreate work or service ordersCapture and track laborManage field serviceKeep training recordsManage accounts payableManage accounts receivableManage budgetsOrder materials
Which sequence correctly summarizes the accounting process?
1. Journalize transactions, Post to the accounts, Prepare a trial Balance. 2. Post to the accounts, Journalize transactions, Prepare a trial Balance. 3. Prepare a trial Balance, Journalize transaction, Post to the accounts
Why do businesses prepare control accounts?
don't know and what control of accounts do you need in a business
What is the journal entry for collected on account 1200?
Debit cash / bank 1200Credit accounts receivable 1200If it is a collection from customer's account, thenDEBIT: Cash 1200CREDIT: Accounts Receivable 1200Collection from customer's account
What do banks do with some of the profits they make by loaning out the money in their customer saving accounts?
They invest the money in high interest money markets and various other accounts. They don't loan out their customer's savings accounts, they loan out the money they make off these accounts.
Independent branch accounts?
It is a branch which had able to prepare its own accounts on its books then we say that is an independent branch. Accounts prepared by it is technically called as independent branch accounts.
Who are accounts prepare for?
Not sure, but all your base are belong to us.
What accounts affected in received payment on account?
"what accounts are affected and how when a payment on account is received from a customer
What is the amount collectible from a customer?
Accounts Receivable
How does the customer invoicing relate to the accounts receivable?
Customer invoices relate to the business as Recievables or income
What are the average number of accounts at a bank per customer?
The average number must certainly be above one as it takes only one customer to have two or more accounts to increase the average. Then there is the question of company accounts and joint accounts. It is possible that a given bank branch office only has one account per customer, but unlikely that a bank would
How much would a customer receive when the customer wishes to close the accounts that he has two accounts with bank A one with a debit balance of RM2000 and the other a credit balance of RM3000?
Customer will raceive RM1000 as a net balance receivable from bank
