Why should the Copies of all approved requisitions for payment be kept at the site?

Q: Where do you post the reversing entries in the old (general) ledger or in a new ledger?

A: The reversing entries are made at the beginning of the period to cancel the adjustment entries that…

Q: Required: Advise Chantelle if registration for the GST is required and include the reasons for your…

A: GST is an acronym of goods and service tax which is levied on sales made by the seller. Every person…

Q: (Students should visit the SEC website, www.sec.gov, for supplemental resources.) Why is the content…

A: Most of the significant actions undertaken by a company first must be approved at stockholders…

Q: Explain how to open a new account in the accounts payable ledger

A: The accounts payable ledger ia a subsidiary ledger which contains the details of all vendors to whom…

Q: Which of the following is Appraisal cost? A. Recalls and warranty repairs B. Line Inspection and…

A: Cost accounting:- Cost accounting helps to record overall cost of the firm including variable and…

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: Required: Prepare all journal entries on Al-Harbi's books to account for the acquisition.

A: Question does not specify which method to follow for solving the question. There are two methods to…

Q: Record the sale of receivable.

A: Sometimes companies require funds and they too have the assets like the accounts receivables for…

Q: Check all attributes below that were met for a test of an expenditure. Attached is a copy of the…

A: A. The documentation for an Expenditure consists of the following: Original Invoice Goods Receipt…

Q: Discuss any two features of digicash that fulfill the requirements of the electronic payment system.

A: Electronic payment system is the system which has been established within the system of the money…

Q: How do you start a new ledger with the reversing entries?

A: The reversing entries are prepared to cancel the adjustment entries made at the year end.

Q: initiate the purchase requisition for fre supplies of the material?

A: Option a is wrong because the maximum level is the maximum number of inventory that can be held by…

Q: Requirements: Draw a decision tree for the "mailing list" problem, including all probabilities and…

A:

Q: ep a permanent record of t saction is documented. If pw do you ensure that the ransactions are…

A: The accounting system of the organization makes the management record day-to-day business…

Q: Which duties should be segregated? a. matching purchase requisitions, receiving reports, and…

A: Cash Disbursement System:   The cash disbursement system carries out the responsibility of…

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: 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: Identify and explain the techniques and methods to manage receivables.

A: Accounts receivable management is critical for any firm, as day-to-day operations rely heavily on…

Q: Display graphically and explain the mechanism of settlements by payment orders

A: Settlement by payment order is a process in which the bank transfer funds immediately with no…

Q: Write the main aims of the regulations of the Depository Institution

A: Depository institutions- There are mainly three types of depository institutions. These are namely-…

Q: Two forms commonly used in the registration process are Form S–1 and Form S–3. Which registrants…

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

Q: Explain how to record note payable transaction.

A:

Q: What can you do to ensure that all payments are accurately coded and allocated to accounts?

A: SOLUTION- Coding in accounting is the process of assigning numbers or letters to data to create a…

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: The payables clerk obtains and matches the purchase order, receiving report, and vendor's invoice…

A: Clerk: A clerk refers to an individual who is an employee of a company or a bank and is responsible…

Q: In the Invoice Lookup, when view

A: Answer: SAGE 50 is the accounting software that is used by many business to record their day to day…

Q: Why is it necessary to continue to maintain and improve an existing Web site?

A: Regularly updating and maintaining website is crucial to ensuring that site is running at full…

Q: The chart that gives data about payments and payment schedule is called what?

A: Introduction: Payments and payment schedules: payment schedule includes all the periods of payment…

Q: How do i adjust entries for a merchanting buisness

A: Adjusting entries are the journal entries passed at the end of the financial year to close all the…

Q: When are adjusting entries made to the worksheet, and what is their purpose? When are the…

A:

Q: When does a company recognize revenue for a sale of a gift card?

A: Gift card: Prepayment which is made by the customer for the future purchase is known as a gift card.…

Q: Describe how accounts are used to record information about the effects oftransactions?

A: Firstly the transaction are recorded in the original books i.e. Journal, when the transactions are…

Q: give practical examples.

A: Appropriation account: Appropriation account is a account prepared for the partnership firm and…

Q: Does the sender (maker) of a debit memorandum record a debit or a credit in the recipient’s account?…

A: Debit memorandum or debit note is a type of document used by the customer or buyer of goods to…

Q: What additional issues are involved with miscellaneous, other, and clearing accounts?

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

Q: I need an example of filling out a journal for Payment of interest

A: Solution: Example: Interest paid on outstanding Loan of $100,000 at 5% interest rate. Interest is…

Q: COA needs to journalize the appropriation and allotment released by DBM. * true or false?

A: The government uses a different way to report their financial statements than the private sector…

Q: Which department performs the formal record- keeping function for fixed assets?

A: Definition: Fixed Assets: It refers to the long-term assets having a useful life of more than a year…

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: 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 are the Copies of all approved requisitions?

A: Requisition:-It is a process where one person requests using service or item. A requisition is a…

Q: Prepare reversing entries and explain their purpose.

A: Hi define reversing entries and explain their purpose is considered as question.

Q: State the purpose of footing the total column in the client’saccounts receivable trial balance,…

A: A necessary audit procedure is to test the information on the client's trial balance for detail…