User Account

All Pages

Discuss the differences between each of the given methods

Assignment Help Accounting Basics
Reference no: EM131157564

Cash Base and Accrual Base Accounting

There are two types of basic accounting methods; Cash Base Accounting vs. Accrual Base Accounting. Discuss the differences between each of these methods. Please provide the different accounting treatments (i.e. journal entries) of the following transaction for both Cash Base Accounting vs. Accrual Base Accounting:

Example: You are an accountant for a landscaping company (Grantham Landscaping LLC) and have mowed a large park for the local county government. You charge the client $2,000 for the job. The county agrees to pay you 6 months from the date of the service.

Reference no: EM131157564

Questions Cloud

How would you recover the product lost in the evaporator : Estimate the feed flow rates of glycine and guaiacol that would be needed to produce 100 kg/day of the API.
How necessary is it to fine-tune your marketing plan : How is the marketing of services different than the marketing of a product? What are the challenges of marketing a service? How is marketing shoes different from marketing shoe repair?
Sketch a p&i diagram of the reactor and feed section : What pressure would you choose for operation of the fermenter, and how would you control it?
Analyse the fundamentals of tax determination : Analyse the fundamentals of tax determination for individuals and business organisations - Critically analyse and explain the various types of taxation such as fringe benefits tax, capital gains tax and goods and services tax.
Discuss the differences between each of the given methods : Discuss the differences between each of these methods. Please provide the different accounting treatments (i.e. journal entries) of the following transaction for both Cash Base Accounting vs. Accrual Base Accounting:
Estimate the power required by the pump : The ship must unload 1000 metric tons within 5 hours to avoid demurrage charges. Estimate the power required by the pump. Take the pump efficiency as 70%. Physical properties of toluene: density 874 kg/m3, viscosity 0.62 mNm-2
Should a mission statement also be a marketing tool : Name the six steps in the marketing research process as discussed in the Kotler text. Why is it important to include all of these steps in the research process?
Compute the first years depreciation using straight line : Compute the first years depreciation using the following methods:-Straight-line-Double-declining balance - Which method do you think is the most representative of accurate depreciation of the goal posts?
Calculate the composition of the reactor outlet stream : Nitrobenzene is fed to the reactor as a vapor, with three times the stoichiometric quantity of hydrogen. The conversion of the nitrobenzene, to all products, is 96%, and the selectivity for aniline is 95%.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd