0
Which of the following statements best describes journalizing transactions?
a written account of the daily experiences and impressions of an individual
Wiki User
∙ 14y ago
Wiki User
∙ 13y agojounalizing must be done daily
Add your answer:
Earn +20 pts
Which word describes you best?
The word that best describes me is special.
What best describes the jungle scene as Marlow describes it at the beginning of the excerpt in Heart of Darkness?
Silent best describes the jungle scene as Marlow describes it at the beginning of the excerpt in Heart of Darkness.
Which word best describes the tone of these lines?
Which of these best describes the tone in the above
What words best describes the narrator in The Drive-In Movie?
Which answer choice best describes the narrator of the Drive in movies
What best describes the brain?
Cell
What statements best describes journalizing transaction?
Journalizing must be done daily.
What are the procedures for journalizing and posting transactions?
steps and procedure in journalizing?
What does journalizing transactions mean?
It is recording the transaction, including a brief explanation.
The process of recording transactions in the journal is called posting?
No, it's journalizing.
What are the 7 steps in journalizing?
The 7 steps in journalizing are: identify the transactions, analyze the transactions, decide the accounts impacted, record the transaction in the journal, post the transaction to the ledger, prepare a trial balance, and prepare financial statements.
What is meant by journal vouchers and brief discussion?
A journal is a book in which transactions are recorded in the order in which they occur i.e chronological order journal is called a book of prime entry or original entry because all the book transactions are recrded in this book the proceess recording transactions in joural is called journalizing.
Why is journal sub divided?
When the size of business and number of transactions are large, recording of transactions in one journal will be inconvenient. It will also cause delay in collection and presentation of accounting information. Many of the transactions are repetitive in nature. If separate journals are maintained for recording transactions of a similar character, journalizing and posting will be easier and more convenient. For example, all cash transactions can be recorded in one ledger; all credit sales in another journal and so on.
Why is the journal sub divided?
When the size of business and number of transactions are large, recording of transactions in one journal will be inconvenient. It will also cause delay in collection and presentation of accounting information. Many of the transactions are repetitive in nature. If separate journals are maintained for recording transactions of a similar character, journalizing and posting will be easier and more convenient. For example, all cash transactions can be recorded in one ledger; all credit sales in another journal and so on.
Why is the journal sub-divided?
When the size of business and number of transactions are large, recording of transactions in one journal will be inconvenient. It will also cause delay in collection and presentation of accounting information. Many of the transactions are repetitive in nature. If separate journals are maintained for recording transactions of a similar character, journalizing and posting will be easier and more convenient. For example, all cash transactions can be recorded in one ledger; all credit sales in another journal and so on.
what is the process of initially recording a business transaction is called?
journalizing
The process of initially recording a business transaction is called?
Journalizing
Steps in journalizing?
Journalizing is an accounting concept where you enter receipts into the general ledger. It requires entering all the information into the correct columns, including date and amount, and deciding what account it should be subtracted from.
