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The total of the cash disbursements column of the cash disbursements journal is posted to the cash account as a?
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∙ 12y ago
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∙ 12y ago
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When posting a column total in the purchases journal a credit should be posted to?
accounts payable
When posting the column totals of a cash payments journal a debit should be posted to?
accounts payable
Only the column totals for special amount columns in a journal are posted is it true or false?
false
What entry do you make in the post reference column of the ledger to show that you posted the transactions from the journal?
The "Post Reference" or PR is used ona Ledger to lead you back to the original transaction by identifying the Journal and the page in the Journal. Example - GJ1 = General Journal, page 1. On a Journal the PR can be used to identify the account number used from the chart of accounts
Why a cashbook is called Journalised ledger?
Cash book is a journal because the transactions are recorded in it for the first time from the source of document and from journal these transactions are posted to the respective account in the ledger. We can say cash book is a ledger also in the sense that it serves the purpose of cash account also.As such cash book is journal as well as ledger, and hence it may call journalised ledger.
Why are number under the column totals in the journal important?
These numbers are important because they verify that the information in that journal column has been posted to the corresponding ledger account.
Why are the numbers under the column totals in the journal important?
These numbers are important because they verify that the information in that journal column has been posted to the corresponding ledger account.
Why are numbers under the column totals in the journal important?
These numbers are important because they verify that the information in that journal column has been posted to the corresponding ledger account.
When posting a column total in the purchases journal a credit should be posted to?
accounts payable
When posting the column totals of a cash payments journal a debit should be posted to?
accounts payable
Only the column totals for special amount columns in a journal are posted is it true or false?
false
What entry do you make in the post reference column of the ledger to show that you posted the transactions from the journal?
The "Post Reference" or PR is used ona Ledger to lead you back to the original transaction by identifying the Journal and the page in the Journal. Example - GJ1 = General Journal, page 1. On a Journal the PR can be used to identify the account number used from the chart of accounts
Why a cashbook is called Journalised ledger?
Cash book is a journal because the transactions are recorded in it for the first time from the source of document and from journal these transactions are posted to the respective account in the ledger. We can say cash book is a ledger also in the sense that it serves the purpose of cash account also.As such cash book is journal as well as ledger, and hence it may call journalised ledger.
No end-of-month posting is required for the total of the Other Accounts Debit column of the cash payments journal?
True. The individual entries are what get posted to their respective accounts, not the total.
In which journal would the payment of salaries be posted?
cial journal
How is a ledger or account book is maintained?
When a transaction occurs, a journal entry is made coinciding with this transaction. Later these transactions are posted from the journal to the ledger, then a trial balance is made to insure that the accounts are accurate and "balance".
Drawings can be posted in cash payment journal?
no
