The following information relates to the Brian Lee Company.

Q: Why the companies use special journals? List them.

A: In the bookkeeping system of accounting, the transactions are recorded in two types of books :…

Q: What are subsidiaries ledgers? Give three benefits of using subsidiaries ledgers?

A: Subsidiary ledger is a ledger account which records detailed information of the account which is…

Q: resources of Boeing Company

A:

Q: Subsidiary ledgers in merchandising business?

A: A subsidiary ledger is a subset to the general ledger and it contains the details to support a…

Q: Give three examples that illustrate how cardinality reflects an organization’s underlying business…

A: The extent or degree of relationship between two or more items is shown by cardinality. 1 to 1, many…

Q: What are the Industry economic characteristics of a company like Amazon?

A: Amazon is a multinational technology company that operates in a variety of industries, including…

Q: Explain professional corporation (PC)?

A: Professional Corporation An entity that is composed of the professionals of specific types that are…

Q: 11 Which of the following would be classified as a product-level activity? Select one: a. It will…

A: Detailed explanation:Machine setup for a batch of a standard product is a product level activity…

Q: What is meant by GAAG? Why should all companies follow GAAP in reporting to external users?

A: Generally Accepted Accounting Principles is what is meant by the abbreviation GAAP. Companies use…

Q: Why is it important for a company to operate cross-functionally?

A: Solution- Importance of cross-functional:  1-It is important for a company to operate…

Q: A central issue in reporting on industry segments of a business enterprise is the determination of…

A: Segment Reporting Generally given as disclosure in the financial statements. Reporting in financial…

Q: What are some of the main differnces between IFRS and ASPE for business combinations?

A: The International Financial Reporting Standards (IFRS) and Accounting Standards for Private…

Q: companies

A: Plantwide costing is used to allocate their entire manufacturing overheads to their line of products…

Q: Using one of the eight principles from the ACM/IEEE Code of Ethics, provide an example using the…

A: One of the eight principles from the ACM/IEEE Code of Ethics is the principle of "PRODUCT", which…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is