pened Jara's Cleaning Service on July 1, 2019. During July, the follow- re completed. Complete accountin lers invested $20,000 cash in the business in exchange for common (LO 1, 2, 3 I used truck for $9,000, paying $4,000 cash and the balance on GLS I cleaning supplies for $2,100 on account. po cash on a 1-year insurance policy effective July 1. tomers $4,500 for cleaning services. po cash on amount owed on truck and $1,400 on amount owed on upplies. D0 cash for employee salaries.

Q: What are the responsibilities of an originator?

A: The originator's responsibilities are: Originator communicates with all borrowers of mortgage loans…

Q: Discuss the major characteristics of a theory.

A: Discussion of major characteristics of a theory

Q: Define the Base Case and the Proposed Alternatives?

A: The base case is the output expected from the basic assumption made by the project team. The basic…

Q: What is the best-case scenario?

A: When companies are uncertain about the details of a project such as costs, inflows, interest rate…

Q: What is the project’s PI?

A: The PI index the profitability index of the project. The shows the profitability of the project…

Q: The components of the conceptual framework ?

A:

Q: What is Scenario Analysis?

A: Scenario analysis is an important step in the financial modelling. This is used to show the possible…

Q: What is preliminary prospectus?

A: Preliminary prospectus is the first document submitted by a company which plans for initial public…

Q: How to choose a Benchmark?

A: Investors select a market index (or a mix of indices) as the portfolio's benchmark. An index…

Q: What are Required Assumptions and Decision Frameworks for replacement analysis?

A: Replacement analysis:   It is an analysis tool in capital budgeting decisions. An asset life tends…

Q: What is the PCAOB? Describe its mission.

A: Introduction:   Businesses must register with the PCAOB in order to audit brokers, dealers, and…

Q: What are the ramifications of doing a CVP analysis

A: It   is about the ramifications of doing a CVP analysis:

Q: Describe the assumptions underlying CVP analysis?

A: Cost-Volume-Profit Analysis (CVP Analysis): CVP Analysis is a tool of cost accounting that measures…

Q: What is the relevant range of CVP?

A: Introduction: Cost-Volume-Profit (CVP) analysis, also commonly referred to as break-even analysis,…

Q: Where does the information on step one comes from?

A: The excess of an asset's expected investment return above the risk-free rate of return is known as…

Q: What are the implications of CVP analysis?

A: The CVP analysis stands for cost volume profit analysis.

Q: purpose of FA

A: FASB stands for Financial Accounting Standards Board. It is a non-profit organization that follows…

Q: How is benchmarking beneficial?

A: Benchmarking is a measure which determines a company's competitive position through comparing its…

Q: What are the functions of the PCAOB?

A: Introduction PCAOB stands for Public Company Accounting Oversight Board. This is a private…

Q: What are Subsequent Events and what do they require?

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

Q: What are the Basic Concepts and Terminology of Replacement-Analysis?a

A: Assets: Assets are those items that provide value for money and future economic benefit for an…

Q: Define and explain the significance of the term CMA.

A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…

Q: What are the implications of CVP analysis?

A: Cost-volume profit analysis is a tool that helps in decision making by establishing a relationship…

Q: What does the intrinsic value formula look like? Please explain the components of the formula.

A: Intrinsic value or the real value is the calculated value or anticipated value of a company’s stock…

Q: With the aid of the accounting equation, explain why increases in assets in accounting are recorded…

A: Ans. As per the double entry book keeping, the accounting equation is total assets is equal to the…

Q: What is the objective of having a conceptual framework?

A: Conceptual framework means set of rules and guidelines that help the users and preparers in…

Q: What is the DCF method?

A: DCF is a complex tool for valuation which approximates the value of any investment depending upon…

Q: What are the functions of the conceptual framework under IFRS?

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: What is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.