double entry for source document

Q: Plane CC was registered on 1 August 2015. The founding statement of the Close Corporation (CC) sets…

A: The main purpose of preparing an appropriation account in the partnership firm is to determine how…

Q: Namespaces must be declared at the beginning of an XBRL do

A: Answer: The Internet address(URL)  where an XBRL taxonomy "lives". Name spaces must be declared at…

Q: Pronghorn Corp. provides at no extra charge a two-year warranty with one of its products, which was…

A: Some of the companies selling product also offer a warranty with it. Warranty expenses refers to the…

Q: Describe journal entries for external transactions.

A: A external transaction is a transaction which is entered by two people or two entities to exchange…

Q: Define declaration date

A: Answer: Declaration data is nothing a date the dividends are declared. This is usually done first…

Q: Name the major transaction cycles

A: In simple terms, the transaction cycle categorizes the basic business processes. It helps in…

Q: of any Two updated IFR

A: The field of financial reporting in India has seen major changes in the last 5 years. As the trade…

Q: How a General Ledger Works With Double-Entry Accounting

A: The Double Entry Accounting basically consists of a cycle that starts with recording and ends till…

Q: Define Single-step format

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: In a data visualization, the vertical axis typically shows __________.   Multiple Choice   values…

A: A column chart will include data labels along the horizontal (X) axis with measured metrics or…

Q: What information is contained in the general ledger master file?

A: General Ledger:  The financial information required for the preparation of financial reports of…

Q: Describe the purpose of caash receipts journal.

A: The cash receipts journal is a special section of the general journal specifically used to record…

Q: Fill out the missing column

A: Net revenue = Gross profit + Cost of goods sold = 511000+673400 = $1184400 Operating expense = Net…

Q: Explain promissory note

A: A promissory note is a financial instrument that contains a written promise by one party (the note's…

Q: Explain certificate of deposit (CD).

A: Money Market Instruments are short term financial instruments which helps in increasing financial…

Q: What is a data dictionary, and what purpose does it serve?

A: Return on investment (ROI):   Return on investment evaluates how efficiently the assets are used in…

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: journal entries u

A: Prepaid Expense-:A Prepaid Expense is a variety of assets for the firm which is presented on the…

Q: V Differentiate General Ledger from a Subsidiary Ledger Differentiate General Journal from a General…

A: Accounting system involves many types of books which are prepared to record the financial…

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: Reports can be directly exported from QBO to

A: Quickbooks: It is an accounting software for small business. Accounting software maintains a records…

Q: Explain Change in Reporting Entity.

A: A reporting entity is an entity whose general-purpose financial report is used by its users to have…

Q: prepare journal enteries

A: Income tax is defined as the payment obligation of the taxpayer earning income for each year. It is…

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.