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
18,057,750 questions answered
Popular Conversations
How would you rewrite the equation 2x + 4y + 2 = 3y + 5 in general ...
Weegy: FOIL (First Outside Inside Last) = 2x(2x) + 2x(-3y) + (-3y)(2x) + (-3y)(-3y) = 4x^2 + (-6xy) + (-6xy) + ...
10/30/2014 6:28:25 PM| 4 Answers
Solve the following equation. x + 6 = x + x 2 6 14 72 User: ...
Weegy: I'm sorry, do you have a question I can help you with today? User: Solve for A. BA + C = D A = D - B - C A ...
10/30/2014 9:06:00 AM| 3 Answers
What is the slope of the line that has the equation 4x + 2y = 12?
Weegy: The slope of the line that has the equation 4x + 2y = 12 is -2. User: What is the y-intercept of the line ...
10/30/2014 6:21:18 PM| 3 Answers
Prior to the Seventeenth Amendment, who chose the members of the US ...
Weegy: Prior to the Seventeenth Amendment, State legislatures chose the members of the US Senate. User: Prior to ...
10/30/2014 7:05:25 AM| 2 Answers
______________ means to enclose something tightly, such as is done ...
Weegy: Embedding means to enclose something tightly, such as is done with stones or tiles, and a filler, when creating ...
10/30/2014 7:30:45 AM| 2 Answers
In a plane, if two lines are perpendicular to the same line, then ...
Weegy: Two lines parallel to the same plane are parallel to each other. TRUE. User: Congruent triangles are any two ...
10/30/2014 8:12:29 AM| 2 Answers
Weegy Stuff
S
L
1
1
1
1
L
1
L
Points 3275 [Total 15650]| Ratings 0| Comments 3275| Invitations 0|Offline
S
L
1
L
P
C
1
P
C
1
L
Points 2137 [Total 11618]| Ratings 5| Comments 2087| Invitations 0|Online
S
1
L
1
L
P
P
L
Points 1114 [Total 13343]| Ratings 1| Comments 1104| Invitations 0|Offline
S
L
Points 888 [Total 2287]| Ratings 0| Comments 888| Invitations 0|Offline
S
Points 680 [Total 681]| Ratings 7| Comments 610| Invitations 0|Online
S
1
L
L
Points 567 [Total 6361]| Ratings 3| Comments 537| Invitations 0|Online
S
Points 482 [Total 482]| Ratings 0| Comments 452| Invitations 3|Offline
S
Points 473 [Total 473]| Ratings 1| Comments 463| Invitations 0|Offline
S
L
Points 79 [Total 1296]| Ratings 1| Comments 69| Invitations 0|Offline
S
1
Points 65 [Total 683]| Ratings 0| Comments 65| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.