general-ledger: Open Question: please help me with my financial planning class! i cant afford to get any wrong!!!!!30 points!?

Open Question: please help me with my financial planning class! i cant afford to get any wrong!!!!!30 points!?

1. Which of the following is not a core module of accounting? (1 point)
Accounts receivable
Accounts payable
Debt collection
Purchase orders
2. Which of the following is not a core module of accounting? (1 point)
Accounts receivable
Billing
Stock inventory
Debt collection
3. What is a general ledger also known as? (1 point)
A normal ledger
A nominal ledger
An enumerated ledger
None of the above
4. Which of the following is not one of the seven basic accounting categories? (1 point)
Asset
Gains
Losses
Investment
5. The listing of the account names and the sum of the account balances is called what? (1 point)
A total balance
A complete balance
An absolute balance
A trial balance
6. Which of the following should not be included in a general ledger? (1 point)
Date
Description
Total amount for each account
All of the above
7. Why kind of statment is also known as a profit and loss statement? (1 point)
Complete statment
Income statement
Investment statment
Earnings statment
8. What kind of statment shows how changes in balance sheet and income accounts affected cash and cash equivalents? (1 point)
Cash flow statement
Investment statement
Earnings statement
Income statement
9. A balance sheet is often described as a of the company's financial condition on a given date. (1 point)
Picture
Snapshot
Photo
Slideshow
10. What is the purpose of an income statement? (1 point)
To show managers and investors whether the company is up-to-date on taxes
To show managers and investors whether the company is spending its money appropriately
To show managers and investors whether the company made or lost money during the period being reported
None of the above
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Open Question: If a General Ledger account has a running balance do I put into my unadjusted balance sheet?

I am working on a accounting assignment and I can't find an example of this. all my General Ledger Accounts have a running balance and I don't know whether to add debits and credits and then subtract or use the running balance. EX: for Mortgage Payable Balance is 50000.00 and a Debit of 2000 for payment is made and no credits, So I don't now wether to put 680000 or 2000 in my unadjusted balance sheet and wether to list it as a credit or debit. Please Help.
Sorry change 68000 to 48000
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Open Question: PLEASE help me with this question?

In reconciling a bank statment the bank statment balance is $1,000 and the balance per the cash account in the general ledger is $1,205. Bank service charges are $5 a deposit in transit totals $500 and outstanding checks total $300. The journal entry for the bank service charges would include?
A)debiting accounts payable and crediting cash
B)debiting cash and crediting capital
C)debiting cash and crediting miscellaneous expense
D)debiting Miscellaneous expense and crediting cash
I believe the answer is either C or D
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Resolved Question: Do some businesses use both general and subsidiary ledgers?

If so, why?
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Voting Question: Accounting Help??

Can somebody please explain to me Disposal of Property, plant and equipment please???

I am having a very hard time understanding it.

So far i have learnt general journal/ledger and trial balance

Can I please have an overview of it (along with depreciation) and steps involved

thankyou
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Resolved Question: Last accounting question please help?

Voting Question: Accounting question Please help?

In reconciling a bank statement the bank statement balance is 1,000 and the balance per the cash account in the general ledger is 1,205. Bank service charge are $5 a deposit in transit totals 500 and outstanding checks total 300. The journal entry for the bank service charge would include?
A)Debiting accounts payable and crediting cash
B)debiting cash and crediting capital
C)debiting cash and crediting Miscellaneous expense
D)debiting miscellaneous expense and crediting cash
I think the answer is either C or D Please HELP me with this one!
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Voting Question: REALLY need help with this accounting question?

Which one of the following amounts might appear in a combination journal should not be posted to any general ledger account?
A)the total of the accounts payable credit column
B)The total of the cash debit column
C)The total of the professional fees credit column
D)The total of the general debit and general credit columns
I just need to check my answer i think that it is either B or C PLEASE HELP ME!!!!
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Voting Question: PLease help need to check my answer?

Which one of the following amounts which might appear in a combination journal should not be posted to any general ledger account?
A)The total of the accounts payable credit column
b)The total of the cash debit column
C)The total of the professional fees credit column
D)The total of the general debit and general credit colums
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Voting Question: PLEASE help me with this accounting question?

In reconciling a bank statement, the bank statment balance is 1,000 and the balance per the cash account in the general ledger is 1,205. Bank service charges are $5 a deposit in transit totals $500 and outstanding checks total $300. The journal entry for the bank service charges would include?
A)debiting accounts payable and crediting cash
B)debiting cash and crediting capital
C)debiting cash and crediting miscellaneous expense
D)debiting miscellaneous expense and crediting cash
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Resolved Question: accounting problem I need help please someone please?

May 1 Issued Check No. 3410 to S&P Management Co. in payment of the May rent, $3,710. (Use
two lines to record the transaction. Charge 80% of the rent to Rent Expenseâ"Selling Space
and the balance to Rent Expenseâ"Office Space.)
2 Sold merchandise on credit to Hensel Company, Invoice No. 8785, for $6,100 (cost is $4,100).
2 Issued a $175 credit memorandum to Knox, Inc., for defective (worthless) merchandise sold
on April 28 and returned for credit. The total selling price (gross) was $4,725.
3 Received a $798 credit memorandum from Peyton Products for the return of merchandise
purchased on April 29.
4 Purchased the following on credit from Gear Supply Co.: merchandise, $37,072; store supplies,
$574; and office supplies, $83. Invoice dated May 4, terms n_10 EOM.
5 Received payment from Knox, Inc., for the balance from the April 28 sale less the May 2
return and the discount.
8 Issued Check No. 3411 to Peyton Products to pay for the $7,098 of merchandise purchased
on April 29 less the May 3 return and a 2% discount.
9 Sold store supplies to the merchant next door at their cost of $350 cash.
10 Purchased $4,074 of office equipment on credit from Gear Supply Co., invoice dated May
10, terms n_10 EOM.
11 Received payment from Hensel Company for the May 2 sale less the discount.
11 Purchased $8,800 of merchandise from Garcia, Inc., invoice dated May 10, terms 2_10,
n_30.
12 Received an $854 credit memorandum from Gear Supply Co. for the return of defective office
equipment received on May 10.
15 Issued Check No. 3412, payable to Payroll, in payment of sales salaries, $5,320, and office
salaries, $3,150. Cashed the check and paid the employees.
15 Cash sales for the first half of the month are $59,220 (cost is $38,200). (Cash sales are
recorded daily but are recorded only twice here to reduce repetitive entries.)
15 Post to the customer and creditor accounts. Also post individual items that are not included
in column totals at the end of the month to the general ledger accounts. (Such items are
posted daily but are posted only twice each month because they are few in number.)
16 Sold merchandise on credit to Hensel Company, Invoice No. 8786, for $3,990 (cost is
$1,890).
17 Purchased $13,650 of merchandise from Fink Corp., invoice dated May 14, terms 2_10,
n_60.
19 Issued Check No. 3413 to Garcia, Inc., in payment of its May 10 invoice less the discount.
22 Sold merchandise to Lee Services, Invoice No. 8787, for $6,850 (cost is $4,990), terms
2_10, n_60.
23 Issued Check No. 3414 to Fink Corp. in payment of its May 14 invoice less the discount.
24 Purchased the following on credit from Gear Supply Co.: merchandise, $8,120; store supplies,
$630; and office supplies, $280. Invoice dated May 24, terms n_10 EOM.
25 Purchased $3,080 of merchandise from Peyton Products, invoice dated May 23, terms 2_10,
n_30.
26 Sold merchandise on credit to Crane Corp., Invoice No. 8788, for $14,210 (cost is $8,230).
26 Issued Check No. 3415 to Perennial Power in payment of the May electric bill, $1,283.
29 The owner of Colo Company, Jenny Colo, used Check No. 3416 to withdraw $7,000 cash
from the business for personal use.
30 Received payment from Lee Services for the May 22 sale less the discount.
30 Issued Check No. 3417, payable to Payroll, in payment of sales salaries, $5,320, and office
salaries, $3,150. Cashed the check and paid the employees.
31 Cash sales for the last half of the month are $66,052 (cost is $42,500).
31 Post to the customer and creditor accounts. Also post individual items that are not included
in column totals at the end of the month to the general ledger accounts. Foot and crossfoot
the journals and make the month-end postings.
Required
1. Enter these transactions in a sales journal, a purchases journal, a cash receipts journal, a cash disbursements
journal, or a general journal as illustrated in this chapter. Post when instructed to do
so. Assume a perpetual inventory system.
2. Prepare a trial balance in the Trial Balance columns of the work sheet form provided with the working
papers. Complete the work sheet using the following information for accounting adjustments:
a. Expired insurance, $553.
b. Ending store supplies inventory, $2,632.
c. Ending office supplies inventory, $504.
d. Depreciation of store equipment, $567.
e. Depreciation of office equipment, $329.
Prepare and post adjusting and closing entries.
3. Prepare a May 2005 multiple-step income statement, a May 2005 statement of ownerâ™s equity,
and a May 31, 2005, classified balance sheet.
4. Prepare a post-closing trial balance. Also prove the accuracy of subsidiary ledgers by preparing
schedules of both accounts receivable and accounts payable.
I need help I got some of the first part done, having a hard time getting it to balance right If any one can please help me please.
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Voting Question: Can any one in accounting major help me with these questions?

The general model for calculating a quantity variance is:
a. actual quantity of inputs used Ã— (actual price - standard price).
b. standard price Ã— (actual quantity of inputs used - standard quantity allowed for output).
c. (actual quantity of inputs used at actual price) - (standard quantity allowed for output at standard price).
d. actual price Ã— (actual quantity of inputs used - standard quantity allowed for output).

To record the incurrence of direct labor cost and its use in production, the general ledger would include what kind of entry to the Labor Rate Variance account?
a. $ 9,500 credit.
b. $ 9,500 debit.
c. $15,200 debit.
d. $ 2,000 debit.

47.
A favorable material price variance coupled with an unfavorable material usage variance would most likely result from:
a. labor efficiency problems.
b. machine efficiency problems
c. the purchase and use of higher than standard quality material.
d. the purchase and use of lower than standard quality material
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Resolved Question: How do i go about End of Perioud Posting in the general ledger?

I'm currently posting end of period figures into the general ledger accounts. Do i use the totals from the special journals and put them in the relevant general ledger accounts?

For example say the total of accounts payable in the Purchases Journal is 500 in the Cash Payments Journal is 200... How would i go about this.

Thanks
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Resolved Question: General and Subsidiary ledger?

I need help deciding whether each of the following accounts would be shown in the general ledger or subsidiary ledger

1. Cash
2. Accounts Receivable-Williams
3. Equipment
4. Accounts payable-Brown
5. Sales

The answers ive come up with are
1. General
2. Subsidiary
3. General
4. Subsidiary
5. General

Any help would be appreciated. Thanks
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Resolved Question: Accounting analyzing transactions?

Date
Transaction

Dec 4
First week of inspections. Inspected 3 homes.

Charged clients a total of $900. Received payment

From all clients at time of inspection.

Dec 7
Filled company truck with gasoline â" paid cash, $43

Dec 11
Inspected 7 homes this week. Charged clients a

total of $2,100. Received payment of $1,500, billed the remainder to clients.

Dec 15
Filled company truck with gasoline â" paid cash, $43

Dec 18
Inspected 10 homes this week. Charged clients a

total of $3,000. Received payment of $2,400, billed the remainder to clients.

Dec 18
Paid $350 for office supplies.

Dec 22
Purchased additional tools on company credit card, $475.

Dec 25
Inspected 6 homes this week. Charged clients a total of $1,800. Received payment of $600, billed the remainder to clients.

Dec 28
Paid $500 on company credit card bill. ($100 was interest)

Dec 30
Paid truck payment, $250 ($85 was interest).

Dec 30
Dan withdrew $2,000 from the business for personal use.

Dec 30
Received payment from clients, $1,800.

Individually:

Post the September, October, and November transactions (from previous task) in the ledger accounts.
Journalize the December transactions
Post the December transactions in the ledger accounts
Prepare a Trial Balance for December.
Group Portion:

In a 1000-1250 word memo to Dan, discuss the businessâ™s performance for the first year of operation. Has his business been successful so far? Why/why not? What can he do to improve the performance of his business?
Use the following chart of accounts.

Account Number
Account Title

100
Cash

110
Accounts Receivable

120
Prepaid Insurance

130
Office Supplies

140
Books

150
Tools

160
Truck

210
Credit Card Payable

220
Truck Loan Payable

300
Dan Brown, Capital

310
Dan Brown, Drawing

400
Inspection Revenue

610
Training Expense

620
License Expense

630
Advertising Expense

640
Interest Expense

650
Gasoline Expense

Click below for templates for the General Journal, General Ledger accounts and Trial Balance.

Download Journal, General Ledger accounts and Trial Balance.
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Resolved Question: Need help with question: I am a famous woman. I died before the age of 40 in the last 200 years. Who am I?

Vinnie and Carly Tauranga's 93.4 More FM
It's NOT: Jean Batten, Dr Donda West, Benazir Bhuto, Amelia Earhart, Amy Johnson, Carol Yager (Worlds Fattest Woman) Syliva Plath, Eva Peron, Aaliyah, Katherine Mansfield, Lady Godiva, Selena,Yuri Gargarin, Cleopatra, Mark Porter, Jesse James, Guy Fawkes, Belinda Hillary, The Unkown Soldier, General Custer, Robert Wadlow Worlds Tallest Man, Hansie Cronje, Jessica Dubrov, Alexander the Great, Brian Jones, The Elephant man, Jean Batton, Anne Boleyn, Ned Kelly, Heather O'Rourke, Billy the Kid, Lee Harvey Oswald, Shannon Hoon, John Denver, John Belushi, Chris Farley, Otis Redding, Pythagoras, Ayrton Senna, Tutenkhamen, John Lennon, Hone Heke, Richie Valens, Beethoven, Bruce Lee, Malcolm X, Jack Lovelock, Sid Vicious, Charlie Parker, Joan of Arc, Stevie Ray Vaughn, Flo Jo, Joey Henderson, Steve Irwin, Anne Frank, Mama Cass, Patsy Cline, Andy Gibb, JFK Junior, Mozart, River Phoenix, Janis Joplin, Buddy Holly, Lassie, Jim Morrison, Kevin Smith, Michael Hutchence, Anna Nicole Smith, John Briton, Jesus Christ, Bruce McLaren, Heath Ledger, Elvis, Martin Luther king, Princess Diana, Kurt Cobain, James Dean, Marilyn Monroe, Karen Carpenter, Jimi Hendrix, Audrey Hepburn, Grace Kelly or Bob Marley!
If you want to see the complete list, you can go to http://tauranga.morefm.co.nz/OurShows/Breakfast/tabid/1230/articleID/6432/cat/350/Default.aspx and look under The Impossible Question

It's NOT: Charlotte Bronte (Writer), Charlotte Corday (Assassin), Ada Lovelace, Bonnie Parker or Carolyn Bisset
It's NOT: Belinda Emmett, Christina Onassis, Eve Van Grafhorst, Jean Harlow, Jane Mansfield, Sacadawea or Florence Nightingale
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Resolved Question: WBC Hates Gays... you cool with their protesting at funerals?

Westboro Baptist Church. You've probably heard of them. Fred Phelps and that whole gang... they picketed the funerals of American soldiers who died in Iraq because they were fighting a war for a country that supports gays. And they were planning to protest Heath Ledger's as well, because he played a gay character. Their website is titled God Hates Fags.

A court has already made its decision as far as the Constitutionality of the WBC's activities.... and it's actually a very good decision. But if you don't know about it, what would YOU think is right?

A.) Allow them to protest any funerals they want (freedom of speech)

B.) Prevent them from protesting (sanctity of traumatic family events/ general hate speech)

Why?
Maybe "sanctity" is an unusual term... you know what I mean.
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Voting Question: Accounting question?

Does capital, beginning balance and opening balance mean the same thing?
I'm most talking about general ledger.
Oh yeah and also when you're posting the opening of a ledger.
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Resolved Question: Where can i find a good book or e-book to teach me excel or quickbook for accountants?

I'm a student in college and I wanted to learn more of excel and quickbooks for future jobs and stuff like that

I already learned what the financial statements, posting, and the general ledger and things like that so i don't want it to just teach me what these things are in excel. I wanted software that applys excel or quickbook skills to real life job tasks.

I still have much more accounting classes too take, but i wanted to get alittle more training with these programs on my own.

Thanks in advance.
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Resolved Question: What is my job?

â¢Started as a modern apprentice completing general office and clerical duties including post, filing, answering telephone calls, franking mail and basic account set ups on the finance system (Sage) whilst working towards NVQ in Business Administration.
â¢Sales Ledger - invoicing customers, dealing with customers face to face, on the telephone or via email quoting prices and chasing up old debts, cheque returns.
â¢Purchase ledger - duties include checking invoices to cover notes/delivery notes, coding up invoices, paying suppliers, entering new supplier and customer accounts onto the system, high number of phone calls,

What would you say my job description is? My title?
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Resolved Question: Comprehensive Problem Perpetual Part 4?

Required
1. Enter these transactions in a sales journal, a purchases journal, a cash receipts journal, a cash disbursements
journal, or a general journal as illustrated in this chapter. Post when instructed to do
so. Assume a perpetual inventory system.
2. Prepare a trial balance in the Trial Balance columns of the work sheet form provided with the working
papers. Complete the work sheet using the following information for accounting adjustments:
a. Expired insurance, $553.
b. Ending store supplies inventory, $2,632.
c. Ending office supplies inventory, $504.
d. Depreciation of store equipment, $567.
e. Depreciation of office equipment, $329.
Prepare and post adjusting and closing entries.
3. Prepare a May 2005 multiple-step income statement, a May 2005 statement of ownerâ™s equity,
and a May 31, 2005, classified balance sheet.
4. Prepare a post-closing trial balance. Also prove the accuracy of subsidiary ledgers by preparing
schedules of both accounts receivable and accounts payable.
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Resolved Question: Comprehensive Problem-Perpetual Part 3?

22 Sold merchandise to Lee Services, Invoice No. 8787, for $6,850 (cost is $4,990), terms
210, n60.
23 Issued Check No. 3414 to Fink Corp. in payment of its May 14 invoice less the discount.
24 Purchased the following on credit from Gear Supply Co.: merchandise, $8,120; store supplies,
$630; and office supplies, $280. Invoice dated May 24, terms n10 EOM.
25 Purchased $3,080 of merchandise from Peyton Products, invoice dated May 23, terms 210,
n30.
26 Sold merchandise on credit to Crane Corp., Invoice No. 8788, for $14,210 (cost is $8,230).
26 Issued Check No. 3415 to Perennial Power in payment of the May electric bill, $1,283.
29 The owner of Colo Company, Jenny Colo, used Check No. 3416 to withdraw $7,000 cash
from the business for personal use.
30 Received payment from Lee Services for the May 22 sale less the discount.
30 Issued Check No. 3417, payable to Payroll, in payment of sales salaries, $5,320, and office
salaries, $3,150. Cashed the check and paid the employees.
31 Cash sales for the last half of the month are $66,052 (cost is $42,500).
31 Post to the customer and creditor accounts. Also post individual items that are not included
in column totals at the end of the month to the general ledger accounts. Foot and crossfoot
the journals and make the month-end postings.
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Resolved Question: Comprehensive Problem-Perpetual Part 2?

5 Received payment from Knox, Inc., for the balance from the April 28 sale less the May 2
return and the discount.
8 Issued Check No. 3411 to Peyton Products to pay for the $7,098 of merchandise purchased
on April 29 less the May 3 return and a 2% discount.
9 Sold store supplies to the merchant next door at their cost of $350 cash.
10 Purchased $4,074 of office equipment on credit from Gear Supply Co., invoice dated May
10, terms n10 EOM.
11 Received payment from Hensel Company for the May 2 sale less the discount.
11 Purchased $8,800 of merchandise from Garcia, Inc., invoice dated May 10, terms 210,
n30.
12 Received an $854 credit memorandum from Gear Supply Co. for the return of defective office
equipment received on May 10.
15 Issued Check No. 3412, payable to Payroll, in payment of sales salaries, $5,320, and office
salaries, $3,150. Cashed the check and paid the employees.
15 Cash sales for the first half of the month are $59,220 (cost is $38,200). (Cash sales are
recorded daily but are recorded only twice here to reduce repetitive entries.)
15 Post to the customer and creditor accounts. Also post individual items that are not included
in column totals at the end of the month to the general ledger accounts. (Such items are
posted daily but are posted only twice each month because they are few in number.)
16 Sold merchandise on credit to Hensel Company, Invoice No. 8786, for $3,990 (cost is
$1,890).
17 Purchased $13,650 of merchandise from Fink Corp., invoice dated May 14, terms 210,
n60.
19 Issued Check No. 3413 to Garcia, Inc., in payment of its May 10 invoice less the discount.
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Resolved Question: Accounting?

Prepare an August 31 trial balance for Pose-for-Pics. Open
these T-accounts: Cash; Office Supplies; Prepaid Insurance; Photography Equipment; H. Paris,
Capital; Photography Fees Earned; and Utilities Expense. Post the general journal entries to these
T-accounts (which will serve as the ledger), and prepare a trial balance.

Aug. 1 Hashim Paris, the owner, invested $7,500 cash and $32,500 of photography equipment in
the business.
1 Paid $3,000 cash for an insurance policy covering the next 24 months.
5 Purchased office supplies for $1,400 cash.
20 Received $2,650 cash in photography fees earned.
31 Paid $875 cash for August utilities

Please indicated which one goes on the left and right.
Thank you
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Voting Question: could somebody please correct this letter for me its for my bookkeeper!?

To whom it may concern: This letter is to certify that xxx. Was employed as a bookkeeper from November 2006 till October 2007 in San Rafael at Bertini European fashion for 1 years. She began here as a bookkeeper and continued to serve with increasing skill in that capacity. xxxÂ´s responsibilities were in the following sectores: Recordkeeping involves preparing accounts receivable, accounts payable, and payroll, and maintaining patron stock records, the general ledger, and office records. During xxx's service with us I, like many others in the department, came to know and appreciate her. Very goal oriented, xxx was always punctual, yet easygoing. She was very much a people person. xxx demonstrated from early in her tenure that she understood what business is all about. She was well organized. She kept a sharp eye on the bottom line, but realized too that customer satisfaction is what makes or breaks your business. I suppose doing well in business is easy if you are, as she was
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Open Question: Simulate or How to learn Integral Accounting Enterprise 2005 v1.00 ???

Peace Be Upon You ,

I Hope any One Have an Idea about

Integral Accounting Enterprise 2005 v1.00

How to learn The program and how to Expalin it Like how can I make my work in it and etc.....

I work with General Ledger and Payroll and Account payable and Account Receivable.

Iwana to if thair any Simulate or CD for learning or some thing like that .

But Please (ASAP).

Thanks Alot

God Bliss you ,
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Open Question: Do anyone knows where I can find a General Ledger Chart / system in Australia? Many Thanks?

or General Ledger table
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Voting Question: accounting general journal/ledger question question?

Journal entry.

Equipment. DR. $5, 000.
Furniture. DR. $2, 000.
Bank. DR. $11, 00.
Loan. CR. $5, 000.
Capital. CR. $13, 000.

Ledger.
"Furniture a/c"

now what do i write?
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Voting Question: could someone plz have a look and see if this is right?

ok so im doing my ledger and im up to my "furniture a/c"
so in my general journal this is one of my entries.
"Equipment - DR- $5, 000.
Furniture -DR- $2, 000.
Bank - DR- $11, 000.
Loan- CR- $5, 000.
Capital- CR- $13, 000"

ok so i'm stuck because i've got the heading "furniture a/c" in y ledger, but i'm not sure which a/cs to write and which amounts.
i think i write the credit a/cs, which in this case will be the loan and capital.
now do i write the amounts next to them in my ledger?

sorry if this question is unclear, i'm not sure how to explain it...

" (3201) Furniture a/c "
Loan. $5, 000.
Capital. $13, 000.

is this right?

any suggestions would be greatly appriciated.
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Voting Question: ledger, which amount do i write... for assignment.?

sorry if this question is unclear, i'm not sure how to explain it...

" (3201) Furniture a/c "
Loan. $5, 000.
Capital. $13, 000.

is this right?

any suggestions would be greatly appriciated.
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Resolved Question: Looking for accounting firm in mumbai who can do data entry to finalisation? Do you know anyone?Pl inform?

Looking for accounting firm in mumbai who can do data entry to finalisation?
General Accounting and Bookkeeping Processes
Updating Chart of accounts
Maintaining ledger accounts
Generating Trial Balance and closing accounts
Bank and Account reconciliation
Preparation of financial statements- income statement, balance sheets and cash-flows statements
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Resolved Question: What is the best way to get database implementation experience?

I currently work for a large insurance firm as a business analyst. I want to get into consulting, particularly with Oracle or SAP implementation. I went back for my MBA (UF â" Dec 07) but since it was company sponsored they wouldn't set me up with any recruiters. My work now involves systems maintenance to our PeopleSoft general ledger. I want to get more experience gathering requirements and implementing new databases for customers. What's the best way to gain experience doing this? I see 6-18 week projects posted on Dice.com sometimes, but I'm afraid of leaving my job for one of these and not being able to find another job after. Any advice???
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Resolved Question: What general ledger classification would you assign to a monthly portapotty bill?

Seriously, I'm stuck on this one.
I'm guessing maintenance. Sound right?
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Resolved Question: Are estimated taxes an expense?

I'm paying quarterly estimated taxes. To track the outflow of cash I put this on my general ledger. However, when paying taxes at the end of the year, do these payments count as expenses (which I can put as an expense for taxes or licenses on my 1040 Schedule C)? Thereby reducing my net profit, or are they not considered expenses for this purpose, and are only considered as a payment on my 1040 line 65?
I'm organized as a single member LLC. Additionally, are my year end taxes considered a business expense?
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Resolved Question: what is the difference between the general ledger and the journal?

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Resolved Question: What period does a trial balance cover?

I am unable to locate what period a trial balance covers. Will this show amounts only for the month in question or does it show up to that period covering the financial period.

I know each month you do one at the end of the but do you include the figures from the previous trial balance.

I guess the real question is........in the general ledger (prior to doing a trial balance) does this include amounts c/d from the previous month or is it only the current months transactions. Which are than entered into the trial balance.
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Resolved Question: Accounting?

Pls answer and give a little explaination, thanks a lot!!!!

1.Inventory becomes part of cost of goods sold when a company
a.Pays for the inventory
b.Purchases the inventory
c.Sells the inventory
d.Receives payment from the customer

2.The entry to record the return of goods from a customer would include DEBIT TO SALES RETURNS AND ALLOWANCES, right?

3.Which of the following is not considered in computing delivered net cost of purchases?
a.Purchases
b.Purchases returns and allowances
c.Freight paid on purchased goods
d.Freight paid on goods shipped to customers

4.Under the perpetual inventory system, which of the following general ledger accounts would not be used?
a.Sales
b.Purchases
c.Cost of goods sold
d.Merchandise inventory

5.Merchandise inventory becomes part of cost of goods sold when a company
a.pays for the inventory
b.purchases the inventory
c.sells the inventory
d.receives payment from the customer
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Resolved Question: Can someone help me understand this im lost?

At the end of September 20-- and before the purchases journal was posted, selected general ledger account balances for Paper Products were as follows (each account had a normal balance):

Accounts Payable...$ 4,295
Purchases................1,650
Freight In.......................0

The purchases journal had the following totals: Purchases, $19,540; Freight In, $1,225; Accounts Payable, $20,765.

Calculate the ending balance of each of the three accounts after the posting from the purchases journal. Indicate whether each balance is a debit or credit.
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Resolved Question: I am offering a sales discount to my customers, what is the account I need to credit?

I know I need a sales discount account to debit (right, income account?), but what is the other account? My acct classes on general ledgers were a long time ago.
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Resolved Question: Where would a loan bet "notes receivable" journal entry be put in the general journal or the general ledger??

Where would a loan bet "notes receivable" journal entry be put in the general journal or the general ledger??
The loan is to another company....so what journal would you put this journal entry
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Voting Question: Where would a loan bet "notes receivable" journal entry be put in the general journal or the general ledger??

The loan is to another company....so what journal would you put this journal entry
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Resolved Question: Would the purchase of common stock journal entry be entried in the general journal or the general ledger??

Would the purchase of common stock journal entry be entried in the general journal or the general ledger??
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Voting Question: What journal do you entry cash dividend in? Is it the general journal or one of the general ledgers?

What journal do you entry cash dividend in? Is it the general journal or one of the general ledgers journal?
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Resolved Question: accounting help and explain..thanks?

Prepare the adjusting journal entries based on the given independent situations as of December 31, 2007:
1.The prepaid Insurance account had a debit balance on December 31 of $36000 representing premium for a 12 month fire insurance policy effective September 1, 2007
2.On December 31 there is a 60 day 6% note payable to ABC Company issued on November 12, 2007 for $120000. No interest has been taken on this note;
3.Commissions Income account showed a credit balance of $26000 per general ledger as of yearend. Of this only 40% has been actually earned during the current year;
4.The following accounts are given as of yearends:
Accounts recievable $360000
Allowance for doubtful accounts $30000
It was agreed that uncollectible accounts are estimated to be equivalent to 18% of outstanding accounts recievable.
5.Depreciation of equipment acquired on May 1 with a cost of $76000 had not been recorded in the books. estimated life of equipment is 5 years with srap value of $1800
6.Unearned rent incomes was credited for $48000 on November 1 , representing 6 months rent collected in advance;
7.Supplies costing $8000 bought during the period was debited to the account Supplies expense of which $6500 were consumed during the period;
8. Commission already earned but not yet collected amounted to $18000 as the year-end.
9.equipment per general ledger as of december 31 shows a ablance of $186000. Equipment acquired during the period was $26000 on october 1. All equipment is to be deppreciated at the rare of 20% per annum;
10. Store supplies recorded in the store supplies unused is $4800.
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Resolved Question: accounting please help..please..and explain to me..i dont understand..?

Resolved Question: Debits and Credits and Journal Entries?

I am very confused as to the use of debits and credits in accounting. I usually think of debits as bad (decrease) and credits (increase) as good. Can someone give me a simple explanation that I can use to remember the rules of what goes where? Also what are journal entries, why are they important, and when do they come into play in the beginning, end or both? What is the purpose of journal entries and how do they affect the general ledger?
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Voting Question: I just completed Strayer's A-1 Photography 5th edition accounting workbook.?

Does anyone have what the general ledger should look like?
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Resolved Question: Why do so many 9/11 victims families, Ph.D's and gov't officials insist that 9/11 was an inside job?

Virginia Deane Abernethy, Ph.D., anthropologist, author, Population Politics
Ed Asner, actor, activist
Marshall Auerback, international portfolio strategist for David W. Tice & Associates, Inc.
Catherine Austin Fitts, Asst. Secretary of Housing in the first Bush administration
Keidi Obi Awadu, aka The Conscious Rasta, talk show host, LIBRadio
Michael Badnarik, Libertarian candidate for President
Byron Belitsos, publisher, Origin Press, author Planetary Democracy
Philip J. Berg, Esquire, former deputy attorney general, Pennsylvania
Medea Benjamin, activist, author, co-founder, Global Exchange and Code Pink
Dennis Bernstein, investigative reporter, radio host of KPFA's Flashpoints
Steve Bhaerman aka Swami Beyondananda, author, political comedian
Brad Blanton, Ph.D., psychotherapist, author, Radical Honesty
Saniel Bonder, spiritual teacher and author, Great Relief
Dr. Robert Bowman, USAF Lt. Col. (Rtd.), founder, Institute for Space and Security Studies
John Buchanan, author, candidate for the Republican Party Presidential nomination, 2004
Gray Brechin, Ph.D., author, environmental historian, professor, UC Berkeley
Fred Burks, presidential interpreter for Bush, Clinton, Cheney, and Gore
Norma Carr-Rufino, Ph.D., author, professor of management, San Francisco State University
Angana Chatterji, Ph.D., scholar-activist and professor of anthropology
Paul Cienfuegos, co-founder, Democracy Unlimited of Humboldt County
David Cobb, attorney, national presidential candidate, US Green Party
John Cobb, Ph.D., theologian, co-author, For the Common Good
Ernest Callenbach, founder/editor, Film Quarterly, author, Ecotopia
Kevin Danaher, Ph.D., author, speaker, co-founder, Global Exchange
Stephen Dinan, author, Radical Spirit
Ronnie Dugger, journalist/author, co-founder, Alliance for Democracy
Daniel Ellsberg, author, Secrets: A Memoir of Vietnam and the Pentagon Papers
Jodie Evans, co-founder, Code Pink
Richard Falk, Professor Emeritus of International Law, Princeton University
Michael Franti, musician, filmmaker, human rights worker
Janeane Garofalo, actress, comedienne, talk show host, Air America Radio
Jim Garrison, Ph.D., president, State of the World Forum, author, America as Empire
Bruce Gagnon, Chair, Global Network Against Weapons & Nuclear Power in Space
Ric Giardina, author, consultant, speaker, former Director of Trademarks and Brands for Intel
John Gray, Ph.D., #1 bestselling author, Men Are from Mars, Women Are from Venus
Stan Goff, 25-year Army Special Ops veteran, author, Full Spectrum Disorder
Melvin Goodman, senior fellow, Center for International Policy, author, former Senior Analyst, CIA, professor, National War College
Morton Goulder, Deputy Secretary for Intelligence and Warning under Nixon, Ford, and Carter
David Ray Griffin, Ph.D., theologian, author, New Pearl Harbor
Doris "Granny D" Haddock, campaign finance crusader, NH Democratic candidate for Senate
Thom Hartmann, radio host; author, Unequal Protection
Richie Havens, singer, songwriter, performer, artist
Paul Hawken, bestselling author, environmentalist, entrepreneur, founder of Smith & Hawken
Randy Hayes, founder, Rainforest Action Network, US National Director, Direction Conservation
Richard Heinberg, author, The Party's Over, core faculty, New College of California
Van Jones, executive director, Ella Baker Center for Human Rights
Rob Kall, editor, OpEdNews.com, president, Futurehealth, Inc.
Georgia Kelly, executive director, Praxis Peace Institute
Sean Kelly, Ph.D., author, professor of philosophy and religion, CA Institute of Integral Studies
John Joseph Kennedy, Democratic Write-in Presidential Candidate for 2004
Mimi Kennedy, actress, Dharma and Greg, progressive activist
Faiz Khan, M.D., Triage Emergency Physician on 9/11, Assistant Imam
David Korten, author, When Corporations Rule the World
Frances Moore Lapp?, author, Diet for a Small Planet; founder, Small Planet Institute
Scott M. Legere, 25 year radio broadcaster as Scott Ledger, Tampa FL
Rabbi Michael Lerner, editor, TIKKUN Magazine, author, Healing Israel/Palestine
Michael Levine, bestselling author of Deep Cover, journalist, 25-year veteran of the DEA
Joanna Macy, Ph.D., eco-philosopher, author
Enver Masud, founder, The Wisdom Fund, author, The Truth About Islam
John McCarthy, former Special Forces Captain, president, Veterans Equal Rights Protection Advocacy
Ray McGovern, former CIA analyst, co-founder, Veteran Intelligence Professionals for Sanity
Cynthia McKinney, five-term Congresswoman from Georgia
Ralph Metzner, Ph.D., author, professor, co-founder, Green Earth Foundation
Mark Crispin Miller, media critic, author, professor, New York University
Joseph W. Montaperto, New York City Fire Department
Leuren Moret, geoscientist, radiation specialist, environmental commissioner
Ralph Nader, Independent candidate for President
Craig Neal, author, co-founder, The Heartland Institute, former publisher, Utne Reader
Jeff Norman, executive director, Tour of Duty
Jenna Orkin, Esquire, World Trade Center Environmental Organization
Kelly Patricia O'Meara, investigative journalist, public relations
Michael Parenti, Ph.D., author, Superpatriotism and The Terrorism Trap
Edward L. Peck, former US Ambassador and Chief of Mission to Iraq, former Deputy Director to the White House Task Force on Terrorism
Peter Phillips, Ph.D., professor, Sonoma State University, director, Project Censored
Henri Poole, Internet pioneer, board member, Free Software Foundation
Robert Rabbin, author, speaker, creator of TruthForPresident.org
Paul H. Ray, Ph.D., sociologist, author, The Cultural Creatives
John Renesch, business futurist, author, Getting to the Better Future
John Rensenbrink, professor emeritus, Bowdoin College, co-founder, US Green Party
John Robbins, author, founder, EarthSave International
William Rodriguez, 9/11 rescue effort hero, founder, Hispanic Victims Group
Neal Rogin, Emmy-award winning writer, performer, social observer
Allen Roland, Ph.D., psychotherapist, published author and peace activist
Rosemary Radford Ruether, professor of feminist theology, Graduate Theological Union
Michael Ruppert, publisher/editor, From The Wilderness, author, Crossing the Rubicon
Chris Sanders, founder, Sanders Research Associates
Karl W. B. Schwarz, President, CEO, Patmos Nanotechnologies, LLC
Peter Dale Scott, Ph.D., Professor Emeritus, author, Drugs, Oil, and War
Firefighter Kevin Shea, FDNY Hazmat Operations
Michelle Shocked, singer/songwriter, activist
Indira Singh, risk management and computer systems consultant
J. Michael Springmann, attorney, former Foreign Service Officer, US Department of State
Douglas Sturm, Ph.D., university professor emeritus, Bucknell University
Marjorie Hewit Suchocki, Ph.D., theologian, author
Chuck Turner, Boston City Council
James W. Walter Jr., venture investor, philanthropist, founder of Walden Three
Dan Whaley, E-commerce pioneer, founder of GetThere.com, acquired for $750M
Burns H. Weston, J.S.D., Professor of Law Emeritus, Director, Center for Human Rights, U-Iowa
Howard Zinn, professor, historian, author, A People's History of the United States
Family Members

Joanne Barbara, wife of FDNY Asst. Chief of Dept. Gerard Barbara
Gayle Barker, sister of William A. Karnes, WTC
Michele Bergsohn, wife of Alvin Bergsohn, Cantor Fitzgerald
Derrill Bodley, father of Deora Bodley, passenger on Flight 93
Kathryn C. Bowden, sister of Thomas H. Bowden, Jr. WTC1, 104th floor
Janet Calia, wife of Dominick Calia, Cantor Fitzgerald, WTC1
Maggie Cashman, wife of William Joseph Cashman, United Flight 93
Lynne Castrianno Galante, sister of Leonard Castrianno, 1WTC, 105th floor
Elza Chapa-McGowan, daughter of Rosemary Chapa, Pentagon
Bruce De Cell, father-in-law of Mark Petrocelli North Tower, 92nd floor
Ralph D'Esposito, father of Michael D'Esposito, WTC, 96th floor
Loisanne Diehl, Surviving Spouse, Michael D. Diehl, WTC2, 90th floor
Adina D. Eisenberg, sister of Eric Eisenberg, WTC
Jonathan M. Fisher, son of Dr. Gerald Paul "Geep" Fisher, Pentagon
Michael J. Fox, brother of Jeffrey L. Fox, Tower 2, 89th floor
Laurel A. Gay, sister of Peter A. Gay, AA Flight 11
Irene Golinsky, wife of Col. Ronald F. Golinski USA RET, Pentagon
Lori, Jerry, and Beatrice Guadagno, sister and parents of Richard Guadagno, Flight 93
Kristen Hall, daughter of fallen firefighter Thomas Kuveikis 9/11
Kurt D. Horning, father of Matthew D. Horning, WTC Tower One, 95th floor
Jennifer W. Hunt, wife of William C. Hunt, Euro Brokers
John Keating, son of Barbara Keating, passenger on AA Flight 11
L. Russell Keene II, father of Russ Keene III, WTC2, 89th floor, KBW
Peter Kousoulis, sister died in WTC
Paul & Barbara Kirwin, parents of Glenn Davis Kirwin, Cantor Fitzgerald 105th floor
Barbara Krukowski-Rastelli, mother of William E. Krukowski, NYC firefighter
Laura and Ira Lassman, parents of Nicholas C. Lassman, died in WTC, Tower One
Johnny Lee, husband of Lorraine Greene
Alicia LeGuillow, mother of Nestor A. Cintron III
Francine Levine, sister of Adam K. Ruhalter, who died on 9/11
Bob McIlvaine, father of Robert McIlvaine, WTC, Merrill Lynch
Mary McWilliams, mother of FF Martin E. McWilliams- Engine 22
Daryl J. Meehan, brother of Colleen Ann Barkow, WTC 1, 105th floor
Elvira P. Murphy, wife of Patrick Murphy, WTC 1
Natalee Pecorelli, sister of Thomas Pecorelli of Flight 11
James L Perry, M.D and Patricia J. Perry, parents of John W. Perry, Esq., NYPD Officer 9/11
David Potorti, brother of James Potorti, North Tower, WTC, Marsh & McLennan
Terry Kay Rockefeller, sister of Laura Rockefeller, North Tower, WTC
Grissel Rodriguez-Valentin, wife of Benito Valentin, WTC1, 94th floor
Alissa Rosenberg-Torres, widow of Luis Eduardo Torres, post-9/11 mother, writer
Elaine Saber, mother of Scott Saber
Julie Scarpitta, mother of Michelle Scarpitta, WTC Building 2, 84th floor
Paula Shapiro, mother of Eric Eisenberg, WTC2
Elizabeth Turner, wife of Simon Turner, lost on 11th September 2001
Adele Welty, mother of Firefighter Timothy Welty, FDNY, Squad 288
Joan W. Winton, mother of David Winton, WTC, South Tower, 89th floor
David Yancey, husband of Vicki Yancey, American Airlines Flight 77
Nissa Youngren, daughter of Robert G. LeBlanc, flight 175
Late Signatories (starting toward 200...)

Rita M. Haley, President, National Organization for Women, New York Chapter
Immortal Technique, Harlem-based hip-hop artist with Viper Records, Revolutionary I&II
Bob Kirkconnell, served in the U.S. Air Force 27 years, reaching the rank of Master Sergeant
Dennis Kyne, former Army air medic, 18th Airborne Corps during Gulf War I, musician, author, "Support the Truth"
Paul Landis, author, "Stop Bush Now!"
Eric H. May, former Army military intelligence officer and media essayist
Charles Shaw, Editor, Newtopia Magazine, National Peace Action Coordinator, National Green Party
Peter Erlinder, professor, William Mitchell College of Law, past-President National Lawyers Guild
Daniel Robert Rezac, 2004 Vice-Presidential Write-In Candidate, former Aviator & Armor Officer, Army National Guard, B.S.B.A.
Joel Horwitz, lost beloved cousin in WTC 1
Jessica Murrow, lost husband Stephen Adams, Beverage Manager, Windows on the World, WTC 1
Ellen Mariani, lost husband Neil on Flight 175
Jean Hunt, disabled survivor of Pentagon attack
Ralph & Brigitte Sabbag, lost son Jason in WTC 2
Feel free to research any name on this list.

Here's another coincidence: Not one zionist on the above list. Hmmmmm....
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Resolved Question: Why do so many 9/11 victims families, Ph.D's and gov't officials insist that 9/11 was an inside job?

general-ledger

Friday, May 9, 2008

Open Question: please help me with my financial planning class! i cant afford to get any wrong!!!!!30 points!?

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