You have new items in your feed. Click to view.
Question and answer
Explain the best place to find the information if you wanted to see both the debit and credit side of an entry? If you wanted to see the balance of an account where would you look?
To see both the debit and credit side of an entry you would look at the journal. If you wanted to see the balance of an account you would look at the ledger.
Expert answered|debnjerry|Points 26368|
Question
Asked 2/2/2012 5:38:41 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
Compare and contrast the ledger and journal. Do you feel we need both the journal and the ledger? Why/why not?
Weegy: The previous chapter showed how transactions caused financial statement amounts to change. "Before" and "after" examples were used to develop the illustrations. [ Imagine if a real business tried to keep up with its affairs this way! Perhaps a giant chalkboard could be set up in the accounting department. As transactions occurred, they would be communicated to the department and the chalkboard would be updated. Chaos would quickly rule. Even if the business could manage to figure out what its financial statements were supposed to contain, it probably could not systematically describe the transactions that produced those results. Obviously, a system is needed. It is imperative that a business develop a reliable accounting system to capture and summarize its voluminous transaction data. The system must be sufficient to fuel the preparation of the financial statements, and be capable of maintaining retrievable documentation for each and every transaction. In other words, some transaction logging process must be in place. In general terms, an accounting system is a system where transactions and events are reliably processed and summarized into useful financial statements and reports. Whether this system is manual or automated, the heart of the system will contain the basic processing tools: accounts, debits and credits, journals, and the general ledger. This chapter will provide insight into these tools and the general structure of a typical accounting system. ACCOUNTS ] (More)
Question
Expert Answered
Asked 2/2/2012 5:28:28 PM
0 Answers/Comments
Explain the best place to find the information if you wanted to see both the debit and credit side of an entry? If you wanted to see the balance of an account where would you look?
Weegy: you can normal good to the bank to see your debt balances that is only you can go. User: Explain the best place to find the information if you wanted to see both the debit and credit side of an entry? If you wanted to see the balance of an account where would you look? Weegy: does your bank have an online account system? (More)
Question
Expert Answered
Updated 2/2/2012 9:07:46 PM
1 Answer/Comment
If you want to see both the debit and credit side of an entry you will look in the journal. To see the balance of an account you look in the ledger.
Added 2/2/2012 9:07:46 PM
Compare and contrast the use of job-order costing with that of process costing.
Weegy: Similarities between job order and process costing systems can be summarized as follows. Both systems have the same basic purposes-to assign material, labor, [ and overhead costs to products and to provide mechanism for computing unit product cost. Both systems use the same basic manufacturing accountants, including manufacturing overhead, Raw materials, Work in process, and Finished Good. The flow of costs through the manufacturing accounts is basically the same in both systems. Difference Between Job Order and Process Costing: The differences between job order costing and process costing arise from two factors. The first is that the flow of units in a process costing system is more or less continuous, and the second is that these units are indistinguishable from one another. Under process costing it makes no sense to try to identify materials, labor, and overhead costs with a particular order from a customer ( as we do with job order costing ), since each order is just one of many that are filled from a continuous flow of virtually identical units from the production line. Under process costing, we accumulate costs by department rather than by order, assign these costs uniformly to all units that pass through the department during a period. ] (More)
Question
Expert Answered
Asked 2/2/2012 6:52:20 PM
0 Answers/Comments
27,199,078 questions answered
Popular Conversations
Color vision deficiency is more common in males than in females ...
Weegy: Color vision deficiency is more common in males than in females because it is controlled by a gene located on ...
3/21/2017 12:01:49 AM| 4 Answers
Find the product. (5p – 6)(5p + 6)
3/21/2017 8:38:45 AM| 2 Answers
Write the decimal as a fraction or a mixed number in simplest form. ...
Weegy: Here is how you can write the decimal to the simplest form. User: Write the decimal as a fraction or a mixed ...
3/21/2017 11:42:41 AM| 2 Answers
Which of the following exercises should be included during warm-up ...
Weegy: Stretching should be included during warm-up and cool-down times. User: Regular exercise will enable you ...
3/21/2017 12:13:31 PM| 2 Answers
In 594 B.C. ______ was chosen as an Athenian statesman with ...
Weegy: In 594 B.C., Solon was chosen as an Athenian statesman with reformation powers. User: ______ were ...
3/22/2017 1:13:29 AM| 2 Answers
Weegy Stuff
S
Points 519 [Total 620] Ratings 0 Comments 519 Invitations 0 Offline
S
Points 477 [Total 477] Ratings 0 Comments 477 Invitations 0 Offline
S
P
P
L
P
Points 218 [Total 1536] Ratings 1 Comments 208 Invitations 0 Offline
S
R
Points 205 [Total 305] Ratings 1 Comments 145 Invitations 5 Offline
S
P
P
L
P
P
Points 143 [Total 1595] Ratings 1 Comments 133 Invitations 0 Offline
S
Points 30 [Total 40] Ratings 3 Comments 0 Invitations 0 Offline
S
Points 13 [Total 13] Ratings 1 Comments 3 Invitations 0 Offline
S
Points 13 [Total 13] Ratings 1 Comments 3 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 0 Comments 0 Invitations 1 Offline
S
Points 10 [Total 10] Ratings 0 Comments 0 Invitations 1 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.