WebLedger account A business purchases a vehicle for $35,000. Since the vehicle was advertised for $40,000 the company decided to record the asset at $40,000. This is a violation of which accounting principle? Historical cost Credit means right side of an account The statement of cash flows is divided into which sections? WebTrue. The third division of the chart of accounts for Delgado Web Services is the owner's equity division. False. The first digit of account numbers for accounts in the owner's equity ledger division is 4. False. The last two digits in a 3-digit account number indicate the general ledger division of the account.
Accounting: Chapter 11 Flashcards Quizlet
WebGeneral ledger accounting systems are software programs that integrate the various accounting functions related to sales, purchases, cash receipts and disbursements, and payroll. Click the card to flip 👆 True Click the card to flip 👆 1 / 43 Flashcards Learn Test Match Created by maral_pazhouheshgar Terms in this set (43) WebIn some general ledger questions, the financial statements need to be constructed by selecting the accounts and account elements that belong on the statement. True. The first four tabs will always be the same: Requirements, General Journal, General Ledger and Trial Balance. True. In some general ledger questions, the financial statements need ... licks for sheep
Accounting Chapter 2 Flashcards Quizlet
WebStudy with Quizlet and memorize flashcards containing terms like 1. Analyzing business transactions 2. Journalizing 3. Posting 4. Preparing unadjusted trial balance 5. Preparing adjusting entries 6. Preparing … Weba complete register of GL accounts required to cover the business needs of the company codes it's assigned to; three levels (operations, local, and group) Account Group an element that categorizes GL accounts; controls the number rnage nad type of accounts that can be created Standard Ledger Web16. What type of account consolidates data from related sub-ledgers before posting in the General Ledger? 16. Reconciliation Account 17. Which system of the ES application suite should be used to document processes related to purchasing materials? 17. Supplier Relationship Management [SRM] 18. mckinsey lighthouse factory