F3(FinancialAccounting)_江西财经大学中国大学mooc课后章节答案期末考试题库2023年Asuppliersendsyouastatementshowingabalanceoutstandingof＄14350.Yourownrecordsshowabalanceoutstandingof＄14500.Thereasonforthisdifferencecouldbethat: 参考答案: Thesupplierhasallowedyou ＄150cashdiscountwhichyouhadomittedtoenterinyourledgers...
Based on a thorough evaluation of the subject matter and relevant resources, the stalwart starts working on the first draft, thus ensuring 100% academic accuracy. Once the primary analysis is conducted effectively, these stalwarts frame the outline and start working on the introduction. They ensure...
Unlike traditional budgeting and forecasting, where projections are based on run rate or existing expense levels, zero-based budgeting starts from a “zero base” and every expense must be re-justified in the budgeting exercise. W Warrants Warrants give the holder the right to buy a company’...
The process starts with analyzing incoming and outgoing transactions like purchases and sales. It ends with preparing financial statements, like the balance sheet, income statement, and cash flow statement, and closing the books. Businesses need to conduct the eight-step accounting cycle for each acc...
expiring during the current accounting period. The balance in Insurance Expense starts with a zero balance each year and increases during the year as the account is debited. The balance at the end of the accounting year in the asset Prepaid Insurance will carry over to the next accounting year...
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When tax season comes, it’s important to understand your options for filing business taxes. IRS requirements for small business taxes can be more or less complex, depending on the type of business entity. For example, LLC taxes are usually quite simple, while dealing with S Corp taxes can ...
Next,the transactionis entered into a journal entry. A journal entry affects two accounts, where one is debited and the other credited. In accounting, this is calleddouble-entry bookkeeping. What are debits and credits? Words used to describe the double-sided nature of financial transactions. ...
After the financials are prepared, the next period opens and the cycle starts over again. Example There are nine main steps in the accounting cycle starting with identifyingbusiness eventsthat need to be recorded. Before anything can be recorded in an accounting system, specific events must be id...
Of course, not all goods or services are provided in a day. Often, an assignment or service can stretch over weeks or months. When a transaction starts in one accounting period and ends in another, an adjusting journal entry is required to ensure it is accounted for correctly. Step 7: Ge...