This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Financial data are recorded in both journals and the general ledger. What is the purpose of a ... (Read 49 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
on: Jul 26, 2018
Financial data are recorded in both journals and the general ledger. What is the purpose of a journal?
 
  What will be an ideal response?

Question 2

What criteria should a construction company use in establishing a chart of accounts?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

JYan

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 26, 2018
Answer to Question 1

Journals are used to collect financial data that are needed to develop specific management reports.

Answer to Question 2

First basic accounts are established for each category of financial data that will be apart of a financial statement or financial report. Secondary accounts are then created to track any financial data needed for management of the company.


stephzh

  • Hero Member
  • *****
  • Posts: 556
Reply #2 on: Jul 26, 2018
TY


JYan

  • Sr. Member
  • ****
  • Posts: 331
Reply #3 on: Jul 26, 2018
You're welcome


« previous next »
 

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

The cladistic approach from molecular genetic data The cladistic approach from molecular genetic data
The nurse can make observations about the patient's general appearance while talking with the p The nurse can make observations about the patient's general appearance while talking with the p
Mediator as a bridge between gene-specific regulatory factors and the general transcription Mediator as a bridge between gene-specific regulatory factors and the general transcription
General Components of a Reflex Arc General Components of a Reflex Arc
General Mathematics General Mathematics
Video: Epidural Hematoma

For a complete list of videos, visit our video library