Questions from College Accounting

Q: What is the purpose of a journal?

What is the purpose of a journal?

Q: How should corrections be made in the general journal?

How should corrections be made in the general journal?

Q: What is an audit trail? Why is it desirable to have

What is an audit trail? Why is it desirable to have an audit trail?

Q: The job order cost sheets for Nash Inc. show the following

The job order cost sheets for Nash Inc. show the following information about special orders for June and July of the current year: The company prices its jobs to make a 50 percent gross profit on sale...

Q: In what order are accounts arranged in the general ledger? Why

In what order are accounts arranged in the general ledger? Why?

Q: What is a ledger?

What is a ledger?

Q: What is Posting?

What is Posting?

Q: What are posting references? Why are they used?

What are posting references? Why are they used?

Q: What is the accounting cycle?

What is the accounting cycle?

Q: What is a compound journal entry?

What is a compound journal entry?