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Take me through the steps of how this bill is entered into the journal, posted to the ledger

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**Problem;An audit trail allows an individual to track a transaction from the journal entry to the general ledger through to the financial statements. The audit trail can also find all the transactions that comprise the dollar amount for each account listed on the income statement and balance sheet. Your team has been assigned the duty to diagram the audit trail for your company. In your diagram, show several transactions and how they would be tracked from the journal entry to the financial statement and back to the journal entry.;------------------------------------------------------------;**Example;The idea is to basically track how you would look for a transaction. Here is an example;If you are trying to create an audit trail based on a couple of transactions you would look for;The original source document;The journal entry;The post to the ledger;The Trial Balance;The appropriate financial statement;-----------------------------------------------------------;**Final Project;Team you want to write up a paper discussing each of these areas. An example might be to start with receiving a utility bill. Take me through the steps of how this bill is entered into the journal, posted to the ledger, etc. You could also explain in your paper what a journal is, or what a ledger is, etc. Your text should be able to provide you with a great deal of this information.

 

Paper#27208 | Written in 18-Jul-2015

Price : $40
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