Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

2. Transaction Analysis

Journal Entries: Debits and Credits

Financial Accounting

2. Transaction Analysis

Journal Entries: Debits and Credits

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Multiple Choice

Which of the following is the most appropriate way to filter a list of journal transactions to view only those that involve a debit to Cash?

Select all transactions with 'Cash' in the credit column.

Filter transactions by the highest dollar amount.

List only transactions that have been approved by management.

Sort the transactions by date and select those with 'Cash' in the debit column.

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Verified step by step guidance

Understand the concept of journal transactions: Journal transactions record the financial activities of a business, including debits and credits to specific accounts.

Recognize the role of the Cash account: A debit to Cash indicates an increase in the Cash account, typically reflecting cash inflows such as payments received or deposits.

Identify the correct filtering criteria: To view transactions involving a debit to Cash, focus on the transactions where 'Cash' appears in the debit column of the journal.

Sort the transactions by date: Sorting by date ensures the transactions are organized chronologically, making it easier to locate specific entries.

Select transactions with 'Cash' in the debit column: After sorting, filter the list to include only those transactions where 'Cash' is listed in the debit column, as this matches the desired criteria.