User Account

All Pages

When the modified accrual basis of accounting is used

Assignment Help Accounting Basics
Reference no: EM13868901

Give an example of a revenue source that, when the modified accrual basis of accounting is used, can be accrued before cash is received, and explain why the accrual can be made.

Reference no: EM13868901

Questions Cloud

Which the debits to aggregated estimated revenues : What are the financial implications of a situation in which the debits to aggregated Estimated revenues are less than the aggregated credits to Appropriations?
The gaap for the financial reporting : Briefly summarize the GAAP for the financial reporting of operating loss carry backs and carry forwards.
What is the minimum number of special revenue funds : What is the minimum number of Special Revenue Funds you would expect a local government to have?
What is the purpose of ping utility : What is the purpose of ping utility? Also describe its functionality with two different options? Try pinging two different sites and give summary of results in each case? What is difference between the ping and traceroute?
When the modified accrual basis of accounting is used : When the modified accrual basis of accounting is used, can be accrued before cash is received, and explain why the accrual can be made.
Differences between full accrual accounting and modified : Do the differences between full accrual accounting and modified accrual accounting apply to revenues, expenditures, or both? Explain.
Company must complete for an uncertain tax position : What are the two steps that a company must complete for an uncertain tax position?
Differences between a general fund and a special revenue fun : What are some similarities and differences between a General Fund and a Special Revenue Fund?
The general fund is defined as the fund used to account : The General Fund is defined as the fund used to account for all financial resources not accounted for in another fund, but it is actually much more than that. Explain why.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Within the discussion board area write 400-600 words that

task name phase 2 discussion boarddeliverable length 500 words plus chart of accountsdetails primary task response

  There were 8000 workers in a factory on 1st january 2012

there were 8000 workers in a factory on 1st january 2012. new entrants in service during the year were 400 and leaves

  Departmental overhead rates may not correctly assign

departmental overhead rates may not correctly assign overhead costs due to a. the use of direct labor hours in

  Texas communications corp reported the following figures in

texas communications corp. reported the following figures in its financial statements amounts in thousands cash

  Earnings and profits balances place the upper limit on the

earnings and profits balances place the upper limit on the amount of dividend that shareholders must recognize for tax

  Knoxville musical sales reports taxable income of 2 million

knoxville musical sales reports taxable income of 2 million tax preference items of 100000 net positive alternative

  Neighborly industries has the following inventory

neighborly industries has the following inventory information. july 1 beginning inventory 10 units at 120 5 purchases

  What is the rate of return of this opportunity

You have an investment opportunity that requires an initial investment of $5000 today and will pay $6000 in one year. What is the rate of return of this opportunity?

  Amount of withdrawal after tax considerations

What amount of the withdrawal, after tax considerations, will Brooklyn have available to purchase the car?

  Prepare the sales revenues section of the income

Milton Company provides this information for the month of November, 2007: sales on credit $150,000; cash sales $50,000; sales discount $2,000; and sales returns and allowances $8,000. Prepare the sales revenues section of the income statement base..

  Discount period at an annual interest rate

Assume that the buyer borrowed enough cash to pay the balance on the last day of the discount period at an annual interest rate of 8% and paid it back on the last day of the credit period. Compute how much the buyer saved by following this strateg..

  If preparation of a periodic scrap report is essential in

if preparation of a periodic scrap report is essential in order to maintain adequate control over the manufacturing

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