What are the three classifications of receivables?

Q: What is Balanace of Payment

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

Q: What is notional principal?

A: This is a type of derivative used by two parties under a contract to exchange the consequences (net…

Q: Janitorial Department Usage Cafeteria 50% Cutting 10% Assembly 40% Cafeteria Department Usage…

A: Reciprocal Method is the most accurate and most difficult method of cost allocation of service…

Q: How is ARR calculated?

A: ARR: Accounting Rate of Return (ARR) is the rate of return earned on the investment made in a…

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: how am i suppose to what account is which for all of them?

A: General ledger accounts are set of accounts used by the company to record its financial…

Q: Jamison Company uses the reciprocal services method to allocate support department costs and has…

A: Under reciprocal method, services provided by one service department to other service department is…

Q: DMJ company's December 31 work sheet for the current period appears below. Unadjusted Adjustments…

A: Net Income refers to the income generated by the firm during the period after paying off its revenue…

Q: What is meant by the term discounting?

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

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: EBIT

A: EBIT is a measure used by companies to calculate their overall profitability. EBIT stands for…

Q: Give two examples of using annuities

A: Introduction: An annuity is an insurance contract issued and sold by a financial institution, whose…

Q: Defining common receivables terms Match the terms with their correct definition.

A:

Q: Define receivables and explain issues related to their recognition.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What are the four basic assumptions underlie GAAP?

A:

Q: Define receivables and understand issues related to their recognition.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: How are the three transaction cyles relate to each other?

A: All type of business whether it is profit or non-profit organization has three types of transaction…

Q: What is meant by a unit of comparison? Why is it important?

A: Fixed assets:   These are the types of assets owned by the business that is expected to provide an…

Q: What is disbursal rate

A: Disbursal rate is an important concept in the realm of financial markets and in the realm of fintech…

Q: Supplies on hand at December 31, 2024 were $890. Prepare the necessary adjusting entry on December…

A: Adjustment entries in accounting refer to the entries made to adjust the accounts at the end of an…

Q: What are the three principal types of REITs?

A: The question is based on the concept of Real Estate Investment trust (REIT). They are an investment…

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: What are the four basic assumptions underlying GAAP?

A: Generally Accepted Accounting Principles (GAAP): Generally Accepted Accounting Principles are the…

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.