+61-413 786 465
info@mywordsolution.com
Home >> Accounting Basics
(a) Should business transaction debits and credits be recorded directly in the ledger accounts?
(b) What are the advantages of first recording transactions in the journal and then posting to the ledger?
Accounting Basics, Accounting
Priced at $20 Now at $10, Verified Solution
Question - As a senior Accountant you had just prepared and posted the journal entry that closed the revenue accounts to the income summary Account. You then noticed that your bookkeeper made a tragic error in recording ...
Question - During October a firm had the following transactions involving revenue and expense: Paid $1325 for rent October Provided services foe $3000 in cash Paid 300 for October phone service Provided service for 2150 ...
Question - Phil Goode will receive $112,000 in 19 years. His friends are very jealous of him. If the funds are discounted back at a rate of 14 percent, what is the present value of his future "pot of gold"?
Question - Simple and Compound Interest Computations - Alan Jackson invests $20,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Alan w ...
Question - Robin Corporation purchased 150,000 previously unissued shares of Nest Company's $10 par value common stock directly from Nest for $3,400,000. Nest's stockholder's equity immediately before the investment by R ...
Question - Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual out ...
Question - X Company estimates the following for its three products, A, B, and C, for 2018: A B C Revenue $47,460 $24,303 $63,666 Total variable costs 29,400 18,224 26,136 Fixed costs in 2018 are expected to be $19,800 ...
Question - ETHICS (Classification of Income Statement Items) As audit partner for Grupo and Rijo, you are in charge of reviewing the classification of unusual items that have occurred during the current year. The followi ...
Informatics and Financial Applications Background The assignment of a payroll calculator demonstrates Excels ability to automate and present financial calculation information clearly. The ability to build and professiona ...
Question - What is the present value of a $100,000, twenty year, bonds payable that pays 4% interest semi-annually and the current market interest rate is 5%?
Start excelling in your Courses, Get help with Assignment Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.
Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As