Business, 13.05.2021 14:00 leledaisy1994

Activity 1.1 Cash Receipts Journal or Cash Payments Journal? 5 minutes
For each of the following transactions, indicate whether the amounts would be entered into
the Cash Receipts Journal or the Cash Payments Journal.
1. A cleaning company received cash from a customer for services provided
2. Owner of a business deposited capital contribution in the business bank account
3. Cheque cashed to buy office supplies
4. Cash received in the cash register from the day's sales
5. Service materials purchased by electronic funds transfer
6. Loan received from the bank
7. Salaries paid by Internet banking
8. Cheque received from a customer in payment of her account.

Answers: 1

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Answer from: leilaford2003

Cash received journal would contain transactions where money was entering into the company. These include: capital contributions, cash sales and loans coming into the company.

The cash payments journal on the other hand, would show transactions where money left the company such as to pay for expenses such as salaries or to procure materials needed by the company.

Cash Receipts Journal

1. A cleaning company received cash from a customer for services provided

2. Owner of a business deposited capital contribution in the business bank account

4. Cash received in the cash register from the day's sales

6. Loan received from the bank

8. Cheque received from a customer in payment of her account.

Cash Payments Journal

3. Cheque cashed to buy office supplies

5. Service materials purchased by electronic funds transfer

7. Salaries paid by Internet banking

Answer from: Quest

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

Answer from: Quest

Ithink its a hope it ! : )

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Activity 1.1 Cash Receipts Journal or Cash Payments Journal? 5 minutes
For each of the followi...

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