What are subsidiaries ledgers? Give three benefits of using subsidiaries ledgers?

Q: An entity shall determine whether a transaction or other event is a business combination by applying…

A: A transaction or event is determined as business combination if Assets and liabilities aquired…

Q: two methods of acquiring accounting information sysytem, and list there disdvantages and advantages

A: Accounting information systems is a system of collection, processing and storage of accounting and…

Q: Business combination withc

A: Acquisition goodwill is the difference between the consideration paid and the fair value of the net…

Q: Define Subsidiary ledger.

A: General ledger: General ledger refers to the ledger that records all the transactions of the…

Q: Identify the various types of split-interest agreements and describe accounting practices for each.

A: Split-interest agreements: Split-interest agreements, often known as planned giving, are…

Q: What are the five elements/components of Accounting Information System? Describe each

A: An accounting information system or framework (AIS) is a design that a business uses to gather,…

Q: Fince/accounting

A: Bonds are converted into number of shares and these are called as convertible bonds. On MATURITY…

Q: What are the purpose of subsidiary ledger

A: Solution:- Introduction:- Subsidiary ledger gives the details that make up the balance of specific…

Q: What two different accounting equalities must be maintained in transaction analysis?

A: In transaction analysis, accounting equalities are:  Assets = Laibilities + Shareholders Equity…

Q: What are the main advantages of each of the main approaches (methods) of branch accounting

A: 1. Branch accounting is a bookkeeping system in which separate accounts are kept for each branch of…

Q: What are the branches accounting?

A: Accounting represents the recording of the financial and non-financial information in the books of…

Q: Define the term parent company.

A: Parent company is a company which has controlling interest in other company by having owned voting…

Q: What is branch accounting

A: The answer is provided as follows:

Q: What is the origin of the term "double accounting systems" for certain types of accounting?

A: This subject discusses the origins of the phrase "double accounting systems" for specific forms of…

Q: Describe the nature and purpose of a subsidiary ledger. List the two-common subsidiary.

A: Describe the nature and purpose of a subsidiary ledger .

Q: entity collected entity remitted plied first the cc е сс

A: Account receivables are the balances of customers that have not paid their dues for services…

Q: Define acquiring company

A: The acquisition means when one company buys the more than 51% stake in another company. Companies…

Q: Subsidiary ledger

A: Ledger Account The purpose of preparing the ledger account to know the ending balance which are…

Q: When is a Form 8–K issued by a company? What specific information does a Form 8–K convey?

A: Form 8-K is issued by a company when there is something significant happening in the company. It is…

Q: State the different types of accounting.

A: Accounting refers to a process through which all day-to-day activities or transactions occurred or…

Q: What are the five fundamental principles of accounting information systems?

A: Accounting information systems collect data from different events and associated transactions across…

Q: What information must an enterprise provide for each of its separately reportable operating…

A: Operating segment: It is defined as providing information about the business actives with an…

Q: Why are some accounting systems called double accounting systems?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Bring out the difference between two methods of Accounting for Amalgamation.

A: Amalgamation is the another word which is nothing but the consolidation but here is that one entity…

Q: What are the three major OE/S processes and what are the subsidary processes of  each major process?

A:

Q: Define each of the following terms:i. Holding company; operating company; parent company

A: Holding company and parent company are almost alike in nature as both holding and parent company own…

Q: Explain the difference between the general ledger and a subsidiary ledger.

A: Ledger is a book where the journal entries recoded are posted. All the transactions in a ledger are…

Q: Shown here is a partial entity-relationship diagram of a purchase system. Describe the business…

A:

Q: What is parent company?

A: Introduction: Parent corporations might be hands-on or hands-off its subsidiaries, based on the sum…

Q: Explain whether a subsidiary needs to prepare accounts to the same date as the parent company.

A: A parent and a subsidiary company is different from each other and may be following different…

Q: Prepare SFP of entity A using account form and prepare respective notes showing the breakdown of…

A: Introduction: Balance sheet: All Assets and liabilities are shown in balance sheet. It tells the net…

Q: Define four mechanisms companies use toglobalize their business activities.

A: The four processes through which corporations globalize their business operations are exporting,…

Q: Define the term subsidiary accounts.

A: Definition:   Account: Account is the basic record that reports all changes in the value of…

Q: explain the relationship of fi nancial statement elements and accounts, and classify accounts into…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: What mathematical relationship is used among proprietary account balances?

A: Answer:-  Mathematical relationship meaning:- A mathematical relationship in the general term can be…

Q: Define Accounts.

A: An account is a summary of the record of all the transactions relating to a person, asset , expense…

Q: Define group, subsidiary and what is controlling company.

A: The answer is stated below:

Q: What is the purpose of a subsidiary ledger?

A:

Q: What are five basic components of an accounting system?

A: Accounting information systems: Accounting information systems collects data from different events…

Q: Define share captial of a company.

A: Equity financing: Equity financing is the larger amount of long-term financing that can be raised by…

Q: Convert a company’s reported financial statements from LIFO to FIFO for purposes ofcomparison.

A: Inventory valuation is a subjective matter because the valuation approach depends on the judgement…

Q: What control system and subsidiary accounts should be included in Ermler & Trump’s manual accounting…

A: Control system and subsidiary accounts that should be included in Ermler & Trump’s manual…

Q: what are the four levels of activity in the pyramid representing the business organzation?…

A: The four-level of activities that represent a business organization are as follows:   Bottom level:…

Q: Recommend three controls of an accounting system

A: An accounting system is a set of accounting processes with linked procedures and controls. The goal…

Q: Define subsidiary

A: A corporation refers to a legal entity that is completely distinct from its owners. It is allowed to…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is