What is Remittances, use information in the text to support your claim.

Q: What is the use of payment request forms?

A: Payment request form a requisition form used for the request for payment. This request is a non…

Q: Define the term Approval of payment requests?

A: The payment is an amount of money paid by the customer to the seller in exchange of goods and…

Q: What are the concluding entries, and how do you explain them to someone?

A: SOLUTION-   A CLOSING ENTRIES  OR CONCLUDING ENTRIES  IS A JOURNAL ENTRIES  MADE AT THE END OF…

Q: Identify each statement as true or false. If false, indicate how to correct the statement.

A: Hi thanks for the question. The question has multiple sub parts. As per the company guidelines…

Q: IF YOU ARE GIVEN OPPORTUNITY TO CHOOSE TO OPEN AN ACCOUNT, WHICH WILL YOU PREFER AND WHY?

A: A bank account is the account in which a person can deposit and withdraw his or her money. In order…

Q: What is meant by a ‘statement of affairs’? How can the profit or loss of atrader be ascertained with…

A: What is meant by a ‘statement of affairs’?    It refers to a statement of assets and liabilities of…

Q: What are the accounts written off? Explain with example?

A: Accounts written off means those debtors or accounts receivables from which money can no longer be…

Q: What is a letter of comments? By what other name is it often called?

A: Definition:   SEC: The U.S. Securities and Exchange Commission (SEC) is an independent federal…

Q: Differentiate between a purchase requisition and a purchase order.

A: Difference between purchase requisition and purchase order The difference between the purchase…

Q: Explain what is meant by ‘events occurring after reporting date’. Distinguish between events that…

A: "Event occurring after reporting date" is meant for those events that occur between the end of the…

Q: What is meant by reconciling an account?

A: 1. Usually, an account has a lot of transactions in a particular year. As accountant and auditors,…

Q: Define receivables and explain issues related to their recognition.

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

Q: Define receivables and understand issues related to their recognition.

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

Q: What is non-posted interest on statements? Please explain.

A: The answer is stated below:

Q: Importance and use of bookkeeping?

A: Double-entry bookkeeping system: The double-entry bookkeeping system by its name implies that there…

Q: State the meaning of a trial balance?

A: Accounting Cycle: The accounting cycle refers to the entire process of recording the accounting…

Q: What makes an account significant or an assertion relevant?

A: Significant Account  An account is said to be significant when there is a chance that the account…

Q: A document that (given the required elements) provides direction and allows another to make…

A: The correct option is B   The living will is advance directive will which allows other persons…

Q: What would the journal entry be?

A: A pension plan is usually an agreement between the employer and employee wherein, the employer…

Q: Ethics of accruals and deferrals.

A: Lets understand the meaning of accrual and deferrals. Accrual is a recording income and expense in…

Q: Why is a service expense a good account for recording a fictitious expense?

A: Fictitious Expense:  Fictitious expense has no tangible existence or any value, but it is created in…

Q: A concept or principle that relates to transactions is:   a. materiality b. full disclosure c.…

A: a) Materiality refers to affect of an information on the decision of users of financial statements…

Q: Plesea better send the questions and align them with the question.

A: The process of comparing and evaluating the operations and results of several firms is known as…

Q: What is a prospectus? What does a prospectus contain?

A: A prospectus is a legal document that is required by the Securities Exchange Commission (SEC) to…

Q: Please answer it if is TRUE or FALSE.

A: An external event is an event which involves parties or items externally to the organisation.…

Q: What is invoice discounting and what are the advantages

A: Introduction: Discounting is nothing but financial process in which in exchange for a fee, a debtor…

Q: d not be recorded using the Expense or Check onscreen form?

A: Office Supplies purchased

Q: When recording the entry to recognize the revenue that is earned from a client who will pay when…

A: In double entry accounting system, journal entry is required to record the financial transaction…

Q: What major types of items are reported in the retainedearnings statement?

A:

Q: What is bookkeeping

A: Book Keeping is one of the functions of accounting.

Q: Explain how to record accrued interest.

A: Accrued interest: Accrued interest is the outstanding interest expense in the accounting period, as…

Q: Determine the amount payable to the legal representative o

A: Determination of amount payable to the legal representative of C: C's Capital: 10,000 Add: Interest…

Q: Define "BOOKKEEPING". what are your initial ideas or thoughts when you hear the word bookkeeping?

A: Book keeping is a part of accounting process. The accounting procedure begins with book keeping and…

Q: what is the Credit for partial payment knowing that information?

A: Trade discount: Trade discount can be defined as the deduction provided by the manufacturer or the…

Q: when should th

A: When should the client representation letter be obtained? -The Clients Representation should be…

Q: appropriation account?

A: Appropriation represents the profit distribution of the company for shareholders and reserves.

Q: What is disclosure? Write down about disclosure notes.

A: Disclosure means disclose the information properly for the users. Disclosure should be complete and…

Q: What is a contra account?

A:

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.