What is the purpose of a registration statement?

Q: What information is each type of document supposed to provide?

A: Answer: There are different types of documents which provide various information.

Q: Under what law is a registration statement filed?

A: Securities Exchange Commission (SEC): This is the government agency that governs the working of…

Q: What functions does the FASB perform?

A: FASB :                          FASB is defined as "The Financial Accounting Standards Board" is a…

Q: Why is a source document important? List some examples of source documents.

A: Source documents refers to the documents pertaining to a business transaction. It captures the key…

Q: The document which sets out basic rules for how a compay is to run?

A: Every company operating as a limited liabilities corporation, partnership firm, or public company…

Q: What is a wraparound filing?

A: Financial reporting: Financial reporting is the procedure used to communicate the information…

Q: What is meant by Wraparound filing?

A: Financial reporting: Financial reporting is the procedure used to communicate the information…

Q: Where are transactions initially recorded?

A: The primary point where the financial transaction, which is initiated or effected by entity during a…

Q: What is the definition of bookkeeping?

A: Bookkeeping is considered as a part of accounting. It deals with the recording of day-to-day…

Q: How do you find invoice

A: The  question is based on the concept of Invoice and method to retrieve it. Invoice is a commercial…

Q: needed, state the registr ts where the transaction ed.

A: The journal entries in the given question are made as follows:

Q: What are the two parts of a registration statement? What does each part contain?

A: Registration statement is composed of two parts 1. Prospectus 2. Informational needs of the staff of…

Q: What is meant by Authorized and issued captial?

A: Meaning of Authorised capital  stock:Authorised stock refers to the maxinum number of preferred…

Q: Provide the proper format for recording a transaction.

A: Journal: Recording of a business transactions in a chronological order is called journal.

Q: What is identifying owner?

A: The answer is provided as follows:

Q: Whose property are audit documentation (audit workpapers)? In what form must they be?

A: Auditing:                   It is a systematic verification of the books of accounts of an…

Q: What is the Permanent File?

A: Permanent file is file which contains information and documents of a company which are to be used by…

Q: What are reversing entries? Are they required by GAAP?

A:

Q: What is understood by Incorporation by reference?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

Q: The process of making the units of the filing name (pr segment) by which the record is to be stored…

A: The process of making the units of the filing name by which the record is to be stored is called…

Q: Describe the alternative approach to record prepayments.

A: Prepayments are the amounts paid in advances for expenses of future period. Alternative approach to…

Q: What are reverse journal entries? Are these required by GAAP?

A: Reversing entries are journal entries made at the beginning of an accounting period to reverse or…

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: Are both registers and special journals necessary?

A:

Q: What is a prefiling conference, and why might it be helpful to a registrant?

A: Prefilling conference: A prefilling conference is requested by a company if it faces problems or…

Q: What is the purpose of a subsidiary ledger?

A:

Q: What is the Current File?

A:

Q: Can a turnaround document contain information that is subsequently used as a source document? Why or…

A:

Q: What are some true statements regarding the use of a worksheet?

A: There are multiple statements regarding the use of worksheet which is true, we are indicating some…

Q: What is journal proper? State what are the entries used to record it?

A: Journal proper was used to make original record of the transactions where there is no special…

Q: How do reversing entries simplify recordkeeping?

A: Reversing Entries   Reversing entries are the journal entries that are made in the beginning of the…

Q: Define Source documents.

A:

Q: What documents constitute the AP packet? Whatevidence does each document provide?

A: An organization should record a liability in its books of accounts based on the invoice amount after…

Q: What questions should be asked after a returned item hasbeen counted and recorded?

A: Returned items are goods that are returned to the manufacturer or secondary retailers.

Q: What is the purpose of a check digit?

A: A check digit is a form of control check which is used for the purpose of error detection on…

Q: Why is the content of a proxy statement considered to be so important?

A: Importance of content of a proxy statement: Most of the significant actions undertaken by a company…

Q: What information is required in a proxy statement?

A: A proxy statement is a document containing the information the Securities and Exchange Commission…

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

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