What is accruals?

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: 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: Clear Water Company reports the following balance sheet accounts as of December 31. Buildings…

A: The balance sheet is a financial statement that the company prepared for a specific period under…

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 deposits in transit?

A: Definition: Bank reconciliation: Bank statement is prepared by the bank. The company maintains its…

Q: What are the Differences in Maturities?

A: Maturities in the context of the bond mean that bonds are issued for a specific period of time. It…

Q: What is the quantitative disclosure of lessor?

A: Definition: Lease: Lease is a contractual agreement whereby the right to use an asset for a…

Q: What is the definition of “actuarial present value”?

A: Accumulated Benefit Obligation: It is an inexact rate of a company's pension plan liability towards…

Q: What examples can be used for the client on the advantages of the accrual method?

A: Accrual basis accounting recognizes business revenue and matching expenses when they are…

Q: what is pooling of Interest Method?

A: The accounting method that governed how the balance sheets of two companies that were merged would…

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: What is the transaction's profit

A: This question deals with the transaction's profit?

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 are finanicial transactions?

A: Transaction process system: It is a transaction process system can be defined as a system which is…

Q: What is another way of saying "Interest earned on interest"?

A: "Interest earned on interest" means the interest earned on the interest amount which was earned on…

Q: what is materiality?

A: Materiality is an accounting concept that signifies the importance of an item to users of financial…

Q: What is the meaning of Intestate?

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