In which transaction deposit directly in the business current bank account as capital contribution

Q: 11. Which transaction gives rise to debtors? A. Credit purchases B. Cash purchases C. Credit sales…

A: The company makes sales to earn profit and the company also makes sales on account which means the…

Q: Which of the following transactions would be recorded if using the accrual basis ofaccounting but…

A: Given: To determine the following transactions would be recorded if using the accrual basis…

Q: Revenue and Expense Accounts Are revenue and expense accounts equal to equity in how cash is a part…

A: Revenue: Revenues are earnings of business by sale of goods and services in business. It is earned…

Q: Funds available to corporate issuers of commercial paper come from which market? O A. capital O B.…

A: Commercial paper is a short term source of debt for a company

Q: What are the differences between cash and accrual basis accounting? Provide an example of each

A: The financial statements can be prepared using various methods as accrual basis and cash basis…

Q: The entry to record interest expense on a bank loan payable is a   a. debit to interest expense and…

A: The adjustment entries are made at the end of the year to adjust the revenues and expenses of the…

Q: A loan borrowed by an individual secured against the personal property is. a. Character b.…

A: The provided options are known as the main Cs that a lender considers when providing a loan.…

Q: Which method of accounting (cash or accrual basis) is consistent with Generally Accepted Accounting…

A: GAAP (Generally Accepted Accounting Principles): GAAP refers to a set of rules and standards…

Q: 2. Which of the following is an appropriate aggregation? A. Cash and cash equivalents (Cash in bank…

A: A balance sheet is a financial statement that provides a snapshot of a company's financial position…

Q: Is it true or not? An entity shall prepare all its financial statements, except the statement for…

A: An organisation can report revenue before obtaining payment for the products or services sold and…

Q: 7. Which of the following accounts is an liability? a. Bank deposit b. Prepaid insurance expense c.…

A: Liability is an obligation for a business. It arises when anything is payable in future or any…

Q: Financial system is important in balances the total financial assets to total liabilities. Explain.

A: A financial system is a collection of entities that allow the exchange of funds, such as banks,…

Q: Define financial assets, trade and other receivables and financial liabilities Thanks tutor

A: Financial assets and trade and other receivables are different types of assets that are part of…

Q: A "receipt on account" results in a credit to: An A/P account Bank An A/R account Capital

A: Receipt on account means, cash received from previously made credit sales.

Q: accounting on cash basis

A: Accounting on cash basis is one of the two methods of accounting.

Q: Revenues and expenses must be recorded in the accounting period in which they were earned or…

A: The income and expenses are recorded in the income statement to estimate the profitability of the…

Q: Interest received and interest payments must be reported as operating cash flows using a. IFRS. b.…

A:

Q: is a financial product that allows an individual to lend their money to a bank A and be paid an…

A: A savings account is a financial product that allows an individual to lend their money to a bank and…

Q: What is the purpose of the accrual accounting method, and how does it differ from the cash…

A: The revenue and expenses are recorded in the books differently. Under cash basis accounting, the…

Q: Explain the difference between the current account and the capital and financial account in the…

A: The balance of payment shall be the record of payment or receipt between a nation and a national of…

Q: Differentiate the cash basis of accounting from the accrual basis of accounting.

A: Difference between cash basis and accrual basis: Cash basis accounting:  Under this method, income…

Q: Can you explain the revenue cycle and expenditure cycle of banks using narrative description.

A: Revenues and expenditure accounts are created by the non-transient entity to determine the cost of…

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Q: what does to bank mean in general entrie nuymber 1?

A: Journal entries refers to the entries which are made at the end of the period or year and it records…

Q: In financial accounts, how are interfund transactions accounted for

A: An accounting firm's financial statements serve as concise summaries of its activities, conveyed…

Q: is purchashing something on credit an operating activity or a financial activity

A: Assuming that purchase of something as the purchase of inventory.

Q: Explain what factors a company consider to manage their accounts receivable.

A: Accounts receivable refer to the amounts owed to a company by its customers for goods or services…