What are program services expenses?

Q: What is Balanace of Payment

A: Balance of Payment is a statement of monetary transactions made and records  between residents of a…

Q: Utility expense

A: Energy, water, and trash disposal are all utilities that are used in the home or business and incur…

Q: What is the use of payment request forms?

A: Payment request form a requisition form used for the request for payment. This request is a non…

Q: Define the term Approval of payment requests?

A: The payment is an amount of money paid by the customer to the seller in exchange of goods and…

Q: Explain the Service Projects versus Revenue Projects?

A: The project is the collaborative effort initiated to achieve a certain objective within a certain…

Q: of computing vat payable

A: VAT refers to the type of tax imposed by the government over the sale of goods and services.

Q: What is a “grant date”?

A: A stock option is a contract that allows its holder to either buy or sell a certain number of shares…

Q: Distinguish between program service expenses and supporting service expenses.

A: A nonprofit organization’s expenses can be classified into two types, they are expenses for program…

Q: Lucas Co. has a job order cost system. For the month of April, the following debits (credits)…

A: The manufacturing cost is the sum of direct material, direct labor, and overhead cost. So direct…

Q: what is medicare

A: Insurance is an agreement in which the company provides a guarantee of compensation for specified…

Q: Describe the decisions about expenditure?

A: Expenditure:   It is the money spent by the organization to purchase or increase the value of their…

Q: What is discretionary reporting?

A:

Q: From your prior job, you built up a small retirement account. That account will start paying you…

A: Because of the fact that any sum today can be invested and grown overtime, the concept of money's…

Q: If a firm have contract with customer, they will deliver their goods in one year after every three…

A: Revenue is the term of accounting which is defined as the income or increase in the net assets from…

Q: What is the proposal’s internal rate ofreturn?

A: The internal rate of return is a metric used in financial analysis to estimate the profitability of…

Q: What is the carryover amount?

A: Introduction Capital losses may be defined as the decrease in the value of capital assets of the…

Q: What is Discretionary Spending;

A: The items which are used for entertainment and for recreation which the consumers generally purchase…

Q: Distinguish between Service Projects and Revenue Projects?

A: Service Projects: Service projects are those projects which are carried out for the welfare of…

Q: what is qualifying assets?

A: Manufacturing plants, power generation facilities and inventories requiring time to get into…

Q: How are research and development expenses treated?

A: Research and development(R&D) expenses: These  are the expenses which an entity incurs in…

Q: what is State indebtedness

A: Any obligations and liabilities for borrowed money created, issued, or incurred by the Purchased…

Q: Is advertising a program expense?

A: Advertising is treated as expense when it is incurred by the entity or organization for making the…

Q: Schindler Co. consigns 20 water heaters to Paralax Co. on January 1, 20x1. The unit cost per water…

A: The consignor recognizes the revenue if the water heaters are sold to the customer and not on…

Q: What is allowance method?

A: Definition:   Allowance method of accounting for uncollectible accounts: This is the accounting…

Q: E6-10 Godfreid Company has accounts receivable of $95,400 at March 3 31, 2017, there is a $2,100…

A: Total estimated Uncollectible  = Balances on 31 March 2017 ×  Estimated % uncollectible

Q: Define the term average collection period?

A: Accounts receivable turnover analyzes the number of times accounts receivables is collected and…

Q: What are support events?

A:

Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.