________-takes-all-transactions-from-the-journal-during-a-period-and-moves-the-information-to-a-gene

Question

________ takes all transactions from the journal during a period and moves the information to a
general ledger (ledger).
A. Hitching
B. Posting
C. Vetting
D. Laxing

Puneet Prajapati · Accepted Answer

let&#x27;s understand the meaning off post. Most of all, we will have our camping cycle as the main process in which the processing is which, which the posting is just a element that day on as the third element. Very specifically, about two seconds. Okay, so first of all, and the stock off the account, things that could be at a financial transaction. Because if we haven&#x27;t entity, if we have a business, it will be very, very office that people have a classic. Okay? And this is the first step. Please also record that the process. I will be writing in this in the second, or we can say a box on the top of it. I will write that. How do we, you know, just a get out of that. How do we get a sense that financial transaction as well? It is mostly done on vultures, like whenever, Whenever an expense fear or, you know, Bill is raised to get rid of any from the customer. So there we usedto get in voice like that. Okay. Bordered by that after having after recording the you know, after after executing a financial transaction we recorded in accounting, will recall the transaction through in the gym in what is eternal, how we recorded, what are the rules? How do we measure the amount? That&#x27;s another separate story, but you can understand that 11 materials here okay, followed by that ridge actually forms our solution. It&#x27;s supposed to posting. It means that after, after saying we have that they&#x27;re all 100 off religions, okay, and after executing, understand that can be have also recorded it. But if we have regarded it and does not make any, you know, sense out of it, it will not make any sense of it by because we have not make them proper in a format to get a clear sense that what&#x27;s happening with this entity, What&#x27;s happening with this customer? What&#x27;s the balance off this customer, how much we have to be a supplier. So after recording religion, we have posed those journal production in the ledger. Get the clear sense off the balance is ordered by that we have our turbulence. Also, however, Cal Balance is a V to summarize the ledgers, so it is basically what it&#x27;s on process. It&#x27;s autism that turned against him. So it&#x27;s the process is no less somebody begins its summarizing. So it&#x27;s 1/4 buck. Former by that v had financial BF in anticipation. It is the end. It is the end of a pumping cycle. However, it is not the end of the business, but it&#x27;s end of just, you know, getting the statement of an ancient position that how they&#x27;re the real identity. Stan&#x27;s comes off financial situation. Okay, it&#x27;s fun. Interesting. So yeah, so we have the night travellers solution from this one is hosting. It&#x27;s just posting is just just transferring the 100 hundreds off or maybe see if we can thousands of transition in a clear format so that we can deter mine. What is the parents of this customer? How much are how much amount we have located two to purchase a different type of unfriendly. Just legends begin simply saying majors, you can note it down on. So I just really believe in d get to my the balance feature with Claire, not with clarity. I would rather see. I would rather see in today. You see, you know to see that how how does that coming to deal? But as of now, we have a lot of solution. The correct choice for problem problem went deep for this boasting like this. Okay, so that&#x27;s all for the solution. Thank you.

Puneet Prajapati · Answer

Okay, so let&#x27;s understand. What? The ring cycle, Steve. So first of all, we will start with our diagram, followed by that we will understand accounting second winnings on, Okay, Supposed to fall in orderto start that coming second before we start before everything. But after the commencing off the business, committing off the business as o tend to be be happy financial carnage. Okay for ancient travellers And next we have a recording off the charge because there would be no meaning of financial transaction effect will not be recorded. That is why we need to record every financial protection. That&#x27;s an entity thus followed by that, we have all stink. What is the meaning of posting? People understand. Ordered by that this summit is Asian now. Some opposition is a means of some of the illusion. Be some rights. Trial balance like these are the activities. These are the activities which are inviting in the boxes in circle. These are the activities and how they are summarized how they are posted, how they are recorded on writing on the box. It said Okay, shall ballons Hosting is done into ledgers. How lovely record the transaction vendor entity does that with any type of person, General, that&#x27;s all. Okay. No movie for forward. So there is a dust financial statement. The patient? No, actually, it is not possess, but it is actually the last step at the end off the account in second at the end off condensate. So that is work. What is the meaning of a camping site? First of all, we have a financial transaction. Most of all, we have a financial transaction, like selling off chasing birds. I&#x27;m elaborating the cycle. Actually, the first, the second and forth at the end. I&#x27;m elaborating these points so that we can get a clear idea. This is as good as a as an example. Okay, So differential traffic selling your purchasing goods. Let&#x27;s suppose we have Mr as a businessman on dhe, he is willing to sell or getting Purple Jase goods from any of the person. So there will be a financial transaction and more because that involves money. Okay, So, first of all, financial times change that accounting by am I using the term a Compton? Because in a typical organization, we have a person don&#x27;t doesn&#x27;t remember his position was done owned, isn&#x27;t a company that records every transaction, which an angry does with any person accounting records. What record? Every religion, gods, Every damage. After that. Like after getting the city&#x27;s off transactions or begins after getting in the murder of production, the start of the posting posting increased ledgers. They will also see that How do we prepare letters? How looking very Germans. How do we prepare tribal ins and forward? But that balance sheet give it all to understand this whenever we will face problems like that. But as of now, for the current solution, it&#x27;s enoughto. Technically, I never miss posting an increasing ledger, then summarizing in the trial balance if the last Yeah, find Jussi. Okay, so for the current. So we have understood the counting cycle. We haven&#x27;t disturbed the elaboration off everything. So the current solution. So the correct choice for Poland, Lane Dean, is be so. As of now, we haven&#x27;t disturbed the meaning of a dumping psychic forward by that the ever understood we have guard the idea off. We have got the tear idea on the different points, different elements surprising in the company and ordered by that we have the Nite Owl Rejoice for problem emptiness. The that is the day to day. Okay, these are the steps. These are the steps. 1234 and five. These are the steps which the accounting or we can say, like over a level which every entity farms are daily basis so that you get a date for a little business, that type of remission. But we have how have been recorded in our people started and how happy, summarized and at the end What? What do we have in terms of financial statements? Okay, so that&#x27;s what that&#x27;s what we have for the current problem. Thank you.

Puneet Prajapati · Answer

Okay, so let&#x27;s understand the accounting cycle first. Then we will understand which process of the company&#x27;s second request more analytical thought. Okay, so the abounding Zaken So we&#x27;ll go with the diagram because it will give you a more elaborated idea. Okay, so first up on first of all, we have a transaction. We have a dog, then we will have a journal entry. It&#x27;s it is mostly concerned with recording Oh, transaction, because before recording the tradition, they need to be a transaction. So therefore first step than recording off the transaction, then ledger after the cities of conviction. After making a general increase or recording the competition, people create ledgers. The knock of that the evil act Trial bellies. It&#x27;s like a symbolized summarize position of all the letters Advil Place. We will understand these terms in detail or be bill, draw these Georgie&#x27;s formers, along with the new medical problems, get an idea that how how old this process works. So this is third. This is for this is the more traditionally I&#x27;m going, I&#x27;m beating right now. Then comes the occupation of financial statements. This is a more straightforward I have a meeting some of the terms like closing it. Losing, adjusting entries, closing, closing campgrounds hosting and all that toe make it most clear. So within this accounting cycle, within this accounting cycle, which process requires the most analytical thought it will discuss it right now. Okay, So the most analytical tart will be required in case off accordingly. Conviction in this process content the guards, the traveler chip. Bye. Giving effect by giving effect. So the multiple accounts I was in the entity. After executing the financial transaction, the content will be able to regard such tradition in the general off the company. Now what is you know, how will he regarded on what basis he will reportedly be? Lex People explain this further. Benji will face such type of puppets. But before that, it requires the recording of the damage and requires more political talk because it involves four basic terms as off now. I wouldn&#x27;t say Violet According to election regard, introduction choirs, More knowledge across married people. Idiots. Okay, suggests calculation. Expects knowledge off financial reporting, financial reporting standards. It&#x27;s a knowledge of applicability. At least give Nitti off. Well, here&#x27;s to company. The list is not at all exhaustive because because it requires experience. Foreign account. It requires experience for in the caldron record different type of different types of religion which an accountant or an entity face during the life or something. Business. So, for the current problem, Dean, we have the correct choice. It is. Hey, that&#x27;s all for the solution. Thank you.

Puneet Prajapati · Answer

Okay, so we are going to understand being meaning financial. Okay, forward by that, we&#x27;ve been in this time there, ho or what is the purpose of recording such financial protection? Okay, in respect of a business entity, it first. Who? The transaction involving exchange off worse and services against money. Okay, so differential. Grandage, is there transaction which bods exchange off goods and services against the cash? Okay, whatever we get. Okay. No, let&#x27;s stick. In example, let&#x27;s suppose there is Mr Always dealing in business off fans nowadays. And most, most of the people use it in business. OK, so let&#x27;s begin with So Mr A is a business owner off fans. Now what happens? They deserve Mr B. So there is so Mr B. Is that customer who? Mr. Now what happens, Mr. Lee? Believers just be friends. Okay, Photocopies $100 each. Okay, so the total value will be $5000. Okay, now Mr B has transport through banking. Jennings How much? $5000. Who missed it? A. Against the received off 50 secs off fans. Ok, now this is a your example. Financial transaction. Okay. So often in Children&#x27;s fiction can also be understood as many financial transaction. Okay. Okay, so that&#x27;s what we have in terms of example. Make understand. What is the meaning? Often until transaction. Okay. No. So we have derived our solution from this example. That financial transaction will be mostly frequently okay, Mostly as the less frequently in case of a business entity. Because in business entity, the owner has to deal with more people, number of suppliers, medical number of customers. You&#x27;re in the business. Okay, so these type of financial transactions will be in numerous will be in huge numbers, Okay. In huge number. So that is why in that guest such financial transaction, Well, we will also be referred to us ordinary financial damages okay? Or letting religion entry. Okay, so for the current portion that that matches with choice, See? Okay, The ordinary transaction entry so in a content will be employed in the business entity. Okay. Bye. Mr E. Who regard such financial connections? Okay, so that will be and all of those transactions will be there for us or any directions. Okay, that&#x27;s all for dissolution and choices. Choice E is the correct

Puneet Prajapati · Answer

Okay, So via understand, Do you mean routine? Okay. And how do we arrive? The do you know things better? It&#x27;s OK. It lead these names. The net effect off revenue and expenses off the business in kitty. In addition, showing their dividend about okay. However, be everything technical definition here, okay? And that technical definition into many concepts, and we will understand it through a simpler example. Okay, let&#x27;s suppose the result There is a company, ABC, help me who is dealing in selling blankets. Okay, So if there is a business, so of course, there is a motive to UN profit also. Okay, so the one profit B B first off all happen, but she has some raw materials who produced blankets. Okay, Then we will find customers to sell the plan case. Okay, so what? We prepare, actually, So we would ve been village in this statement. Okay. Viva paid up. Gender statement. Very. We have one site is the revenues. Which region braid from sail off blankets. Okay. Interesting. Come like we have, like, we have deposits with the bank savings accounts with the bank. So interesting ideas from those deposits. In addition to wear, we have it all for it. Don&#x27;t say it off. A sick and likewise many off items. Okay, so in business, generally these components okay, give rise to the revenue. 40 business. Ok. However, to run the business, we have to income many of the expenses. Yes, I have redone the items on the basis of their priority. Okay, so sale from the money from the sale of blankets, it&#x27;s on the top. And according to you Okay, who started putting person? Come on, staff a property. Now let&#x27;s come first drama TV and there is a business of selling lengthen drama today will be the first most expensive bordered by that station ity. Okay, stay city. Okay. Drinking expense. Now what happens after writing such statement? We either be end of it. Perfect, okay. Or loss. Okay. Know what happens before delighting this profit and loss at this general statement? 11. Okay, district whatever. Be closed on these expenses And these individuals who in Go somebody okay? Please write it down. Lose all items who income somebody. And how do we close down on the items to income summary bypassing the closing imprints. Okay, we will understand how to pass the closing and peace for each item. However, you can industry that these are all the items in the general statement will be transportable Incomes somebody by passing close again, shouldered by that all the items income somebody will be transferred. Who detained earnings? Okay. Who detained in encircled by posse closing it. Okay, so this is the main conclusive definition behavior in here. Okay, after writing the technical definition after understanding them being example. Okay, Please record out. They shoot number Verne do as well as three on being a books off the jet difference. Okay, so take a load off this statement that all the incoming drip in common expenses will be transferred to retain the links on a yearly basis. OK, because you prepared uninterested ones on a yearly basis. And how do we close the income? Somebody items retained by passing, closing empties. Okay, so our solution matches with Joyce V that this losing empty. Okay, So Joyce&#x27;s correct. That&#x27;s all

Puneet Prajapati · Answer

okay, Selectors understand the solution from from the example. But before that, Okay, But before that, we will go over accounting cycle accountings. I can the big Zach that their cities of events after the after the financial transaction execution there is the cities of it burns through which every financial transaction goes through and reaches their destination office. But I didn&#x27;t shoot. Oh, this seems very, very to reason. Okay, But still, it is the case in accounting at the subject. OK, now let&#x27;s start our process. First of all, in any business ended it. There is a financial protection originals finance, which involves money. Okay, Because before recording everything before debating financial statements, there needs to be a financial religion, which is to be recorded, first of all. So this is the first step, please. Right now, I don&#x27;t know. So that you get you can devise it before exams are You know, sometimes whenever anyone asks from you the financial transaction, then what happens when there is a financial transaction? How to keep the guard off it? There is a vulture. Okay, there is a vulture. It&#x27;s like a received, but is he just Ah generally see type. It&#x27;s a paper form received. So every financial transaction executed will be recorded on that. Be about farm received. Okay. Now, after financial transaction, there is a recording off transmission. Because I didn&#x27;t. Unless a financial donation will be recorded, the financial transaction executed will be off. Norbert do, indeed, because it has been reported. So there will be no proof off financial damage in the business. Okay. And how do we recorded where Toby recorded? That&#x27;s also understand. I&#x27;m going to rub this out, okay? We&#x27;ll make green diagram. So very garden journal. Okay. Soldered by that after bidding after recording a cities of financial Dominicans. Okay. A CDS, often in child protection. We post we posed them toe different types of the year comes or tear downs, we can see ledgers. Okay. No. What happens in the legislature to suppose we have 100 off other Children? Login, These will be recorded in the German 100. Relations for by that ve vill, we will post those 100 financial religions Two ledgers alleges in a farm off. You can also bigger Desert Dagenham. I&#x27;m just making a bracket. This is a letter for like, there is a devil it is some David items. Here are some concrete items. That sort. We will discuss it later on when we will face his problems. Okay, but for the sake of understanding, just take a note off it. Okay? After posting, we have some. Amazing. We have a summarizing process. Graviton. Somebody. Okay. How do we summarize? The ledgers are posting process. Okay, the then we do it through cloud balance. Okay. The Taliban&#x27;s in summary off balance is off. All the accounts in a summarized for like, the air. We have names off the accounts, and against that, the amount has been returned to reflect that. What is the deputy operated balance off every account. Okay, so except somebody&#x27;s phone forward by that, we have a final steps. You&#x27;ll find a step off finding just ignorance. Okay. Okay. So that is That is what? Every time. So the 1st 1 is financial panic. An execution for this posting and the process through which posting will be done. How are you? Can say the activity is making ledgers. Prove is the posting. Activity can be done for. About that, we have to summarize the ledgers, so we will use traveling to do that after, like the values we will prepare fanciest. Our statements by travel minutes. Okay, No. In the given caution, we have been us. That which of the main source of information used to prepare the financial statements. So now, from this diagram from this diagram, we can understand, or we can clearly correlate their trial balances used to prepare the financial statements. So the correct choice for problem 40 is see doctors to see cabinets. Okay. You need to make sure that you will. You will George it down. What? I have written in the first year. So that would be easy for you to devise before it sounds okay. That&#x27;s all for your solution. That&#x27;s all for your solution. Thank you.

Problem 21 Hard Difficulty

________ takes all transactions from the journal during a period and moves the information to a
general ledger (ledger).
A. Hitching
B. Posting
C. Vetting
D. Laxing

Answer

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Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting

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Principles of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon CooperPrinciples of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting