What role does each of the following departments play in the cash receipts subsystem: mail room, cash receipts, accounts receivable, and general ledger? Be complete
The mail room receives the customer's payment–usually a check accompanied by a document called a remittance advice (which may be a copy of the invoice sent to the customer). Mail clerks separate the two, prepare a cash prelist or remittance list which lists all the payments received and sends the checks to the cashier and remittance advices to accounts receivable.
In cash receipts someone (e.g., cashier) restrictively endorses the checks and records the payments in the cash receipts journal. A deposit slip is prepared which accompanies the checks to the bank.
The accounts receivable department posts from the remittance advices to the customer accounts in the AR subsidiary ledger.
The general ledger department records cash receipts to the cash and AR control accounts based on the list from the mailroom and the summary report of posting from A/R.
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Using financial leverage results in a fixed change that can materially affect the earnings available to the common shareholders
Indicate whether the statement is true or false
The Blackbird Company estimates the following cash payments for the month of July: Total Direct Materials Purchases: July $635,000, June $500,000, May $575,000 Total Direct Labor $67,000 Other Manufacturing Costs (Including Depreciation $25,000 ) $160,000 Selling and Administrative Expenses $55,000 Capital Additions $50,000 Dividends to Stockholders $30,000 It is estimated that Material Purchases
are paid at a rate of 70% in the month of purchase, with the remainder paid the following month. All other expenses are paid in the month they occur. A) $956,500 B) $931,500 C) $972,000 D) $997,000
The _______________________________ is the most powerful decision-making authority of the European Union and consists of each country's minister for whichever issue is under discussion.
Fill in the blank(s) with the appropriate word(s).
How is the content strategy document different from a content calendar?
a. The content strategy document briefly summarizes all content decisions while the content calendar captures which content is scheduled and prioritized for the organization. b. The content strategy document briefly summarizes the content type and channel while the content calendar captures which content is scheduled and prioritized for the organization. c. The content calendar briefly summarizes all content decisions while the content strategy document captures which channels to use and their order of priority. d. The content calendar captures which content is scheduled and prioritized for the organization while the content strategy document captures which channels to use and their order of priority. e. None of these.