Explain payment (PMT)

Q: Describe briefly how the HST remittance is calculated.

A: Harmonized sales tax remittance: The harmonized sales tax remittance is the amount of sales tax that…

Q: Define T- account.

A: Transaction:   It is an economic event that is recorded in the accounting system of an organisation.…

Q: What are the special forms of payment? Give examples for each.

A: Unless otherwise stated, the obligation to deliver begins when the contract is signed. The creditor…

Q: reimbursement plan

A: Those Expenses will be reimbursed by Business to their Employees which are related to business. In…

Q: Match the following paper payment types with the correct description.

A: Payment types means various modes of payment which are used for the purpose of making payment to…

Q: Compute for the amount to be received by GHI.

A: Cash P21000 ABC Loan charge from ABC's capital Account P15000 Collection from Accounts…

Q: Define Net purchases.

A: Purchase discounts: The sellers offer a reduction in purchase price on initial purchases, to…

Q: What are CAM charges?

A: Answer: CAM: The abbreviation of CAM is Common area maintenance charges. These are one of the total…

Q: Define stretching accounts payable

A: Accounts Payable are the money owed by the company, wherein this comprises short-term loans from…

Q: Discuss the term ‘co-payment

A: Co-payment is a very important term in the field of health insurance.

Q: a. How many payments are required to s-

A: A loan refers to the amount that should be taken by the borrower from the lender for a specific…

Q: How to Determine the Transaction Price?

A: Definition:   Transaction price: Transaction price refers to the price that a corporation receives…

Q: Define refunding operation

A: Introduction: Refunding is the method of withdrawal or repayment of an existing bond issue by…

Q: Define credit enhancement

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

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: in qyuickbooks Which steps should be followed to set up the different types of payments accepted…

A: Payments Accepted means- Any Payment which will be receivable from the customer on any credit sales…

Q: Explain Pass-Through Rates, Yields, and Servicing Fee?

A: Pass-through rateA rate of interest being paid to the investors on the securitized asset after…

Q: Identify and describe the different billing schemes.

A: Billing schemes are those techniques in which fraudulent invoices are submitted for fictitious goods…

Q: Why digital payment has changed the fiance systems?

A: In the recent past and last few years’ digital payment systems have boomed. Different forms of new…

Q: ther with a remittance puld Northup recogniz®

A: Consignment is the process of authorizing the third party known as consignee to sell the products of…

Q: Explain Prorations, Escrow Costs, and Payments to Third Parties?

A: Prorations, Escrow Costs and Payment to Third Parties all are methods of payments as per different…

Q: Define Debit

A: Accounting depends on double entry system. As per dual aspect principle of accounting, each and…

Q: Define advances from customers.

A: Current liability: Current liability is a debt that the companies need to pay the debts from…

Q: Define compensating balance (CB)

A: Compensating balance is a minimum amount a borrower has to maintain with the lender. This is very…

Q: Explain how to determine the transaction price.

A: Determination of transaction price is one of the step of revenue recognition process. The…

Q: payment

A: Time value of money is the concept widely used by the management and individuals to determine the…

Q: Define the term credit revenue.

A: Credit Revenue: When goods or services are sold on credit, they are recorded as revenue, but since…

Q: Define net pay.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: Explain Bill-and-hold concept.

A:

Q: Identify differenttypes of paymentsystems

A: A payment system is used to settle financial transactions by transferring the monetary value. The…

Q: Define the term service revenue.

A: Revenues: Revenues are earnings from operations of a business. The operating activities are sale of…

Q: What is a fee income

A: Fee Income There are different ways an organisation can make the sources of income like sales…

Q: Explain and define deeply the three (3) types of electronic payment. Cite some situational examples.

A: An electronic payment is that payment which is made digitally and in which there is no involvement…

Q: explain mechanism of settlements by collection orders

A: Profits or losses used to be computed as difference between the settlement price of the previous day…

Q: Define broker

A: Broker is referred as a person or a firm, who used to arrange the transactions between the seller…

Q: Define contra account

A: Financial Accounting: Financial Accounting can be defined as an activity of recording financial…

Q: Describe the expense recognition principle (matching principle).

A: The expense recognition principle states that expenses should be recognized in the same period as…

Q: Give me an example of ledger?

A: The ledger provides the summary of all the business transactions incurred during the period. The…

Q: Give one advantage of using a vouchers payable system.

A: Voucher: It is a written document or statement that confirms the happening of certain transactions…

Medicare

Medicare is one of the health insurances provided by the federal health insurance programs especially for elderly people who are 65 years old and above, young people with disabilities, and people affected with end-stage renal disease. The Medicare program covers medical services, nursing facilities, home health care, physician services, prescription drug, and hospital health care. Most of the population is getting benefited from the Medicare insurance program.