FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Differentiate between: i) Accruals and Prepayments ii) Working Capital and Capital Employed iii) Revenue and Capital Expenditure iv) Materiality and Historical Cost Concept v) Carriage

Differentiate between: i) Accruals and Prepayments ii) Working Capital and Capital Employed iii) Revenue and Capital Expenditure iv) Materiality and Historical Cost Concept v) Carriage inwards and Carriage outwards(10 Marks) 

Step by Step Solution

There are 3 Steps involved in it

Step: 1

i Accruals vs Prepayments Accruals Accruals refer to expenses that have been incurred but not yet paid or revenue that has been earned but not yet received They are recorded to match expenses with rev... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Macroeconomics

Authors: Christopher T S Ragan

15th Edition

013391044X, 978-0133910445

More Books

Students also viewed these Accounting questions

Question

PLEASE GIVE CORRECT ANSWERS Prove that the number of comparators in any sorting network is (n log n). [4 marks] (ii) What does Part (d)(i) imply in terms of the depth of any sorting network? [1 mark]...

Answered: 1 week ago

Question

CANMNMM January of this year. (a) Each item will be held in a record. Describe all the data structures that must refer to these records to implement the required functionality. Describe all the...

Answered: 1 week ago

Question

Q1. You have identified a market opportunity for home media players that would cater for older members of the population. Many older people have difficulty in understanding the operating principles...

Answered: 1 week ago

Question

★★★★★
Governments assert that their safety standards for food imports are important to ensure that their citizens not be harmed by unsafe foods. Comment on how such a concern may be a nontariff barrier.

Answered: 1 week ago

Question

★★★★★
During 2014, Raines Umbrella Corp. had sales of $675,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $435,000, $85,000, and $125,000, respectively. In...

Answered: 1 week ago

Question

★★★★★
If Package A merges Package B, and Package A has classes X,Y and Package B has classes X,Z, which of the following is true? (a) A is within B (b) B is within A (c) A.X + = B.X (d) B.X += A.X

Answered: 1 week ago

Question

★★★★★
=+Recall from the example on page 837 that Pat is purchasing an airplane ticket; the payoff table is in the example on page 838.

Answered: 1 week ago

Question

★★★★★
Roselle Appliance uses a perpetual inventory system. For its fl at-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10, Roselle purchased 6 units at $648 each. The...

Answered: 1 week ago

Question

★★★★★
7. Compute the Sharpe ratio of the portfolio A. The risk-free rate (net return) is 2% for the same period. Assume the following table is the true probability distribution. Round your answers to the...

Answered: 1 week ago

Question

★★★★★
Given a database of the results of an election, find the number of seats won by each party. There are some rules to going about this: There are many constituencies in a state and many candidates who...

Answered: 1 week ago

Question

★★★★★
show all workings in excell A wealthy donor gave the Gallery $300,000 in cash on the condition that the principal amount be invested in marketable securities and that the interest earned from thi...

Answered: 1 week ago

Question

★★★★★
Canada Importers is a Canadian firm based out of Mississauga Ontario. It was founded in 1979 and imports many different types of products. The company is looking to expand and has found that there is...

Answered: 1 week ago

Question

★★★★★
4. The data below pertains to the earnings of Juan Manuel for the week ended June 15, 2020: 3 points Hours and rate Earnings to date Overtime rate 42 hours worked at P40/hr P14.00 1 and times the...

Answered: 1 week ago

Question

★★★★★
Give the assumption or principle that would have been violated if the following entries or information had not been given: 1 . A owner of 3 different businesses wants to combine all of them into one...

Answered: 1 week ago

Question

★★★★★
huck and his employees have discussed redesigning the process to improve efficiency. Suppose they can increase the rate to 320 boxes per day. What will be their new productivity

Answered: 1 week ago

Question

★★★★★
Free-Response Questions 1. Suppose there are 100 residents on the island of Sunshine. Whenever someone purchases a palm tree to plant on the island, everyone on the island receives the same benefits...

Answered: 1 week ago

Question

★★★★★
Assume a 360 doys in a yeac, If required, round your answers to the nearest dollar. If an amount box does not require an entry, leaye it blank a. Journalize Bennett Enterphises' entries to record: 1....

Answered: 1 week ago

Question

★★★★★
What are the six activities involved in the physical supply/distribution system?

Answered: 1 week ago

Question

★★★★★
The diagram below shows an \(A D / A S\) diagram. The economy begins at \(E_{0}\) with output equal to \(Y^{*}\). Suppose the government in this closed economy decreases its budget deficit by...

Answered: 1 week ago

Question

★★★★★
Fill in the blanks to make the following statements correct. a. The NAIRU is composed of ____________ unemployment and ________ unemployment. The NAIRU is always _________ than zero. b. If there are...

Answered: 1 week ago

Question

★★★★★
The following table shows hypothetical demand schedules for sugar for three separate months. To help make the distinction between changes in demand and changes in quantity demanded, choose the...

Answered: 1 week ago

Question

★★★★★
The following data were collected during a study of consumer buying patterns. a. Plot the data as a scatter plot. b. Obtain a linear regression line for the data. (You may use Excels =s lope(Range Y,...

Answered: 1 week ago

Question

★★★★★
Two independent set of forecasts based on judgment and experience have been prepared each month for tire past 10 months. The forecasts and actual demand are as follows: a. Calculate tire MSE, MAD,...

Answered: 1 week ago

Question

★★★★★
A farming cooperative s manager wants to forecast quarter grain shipments for each quarter of next year (Year 6), based on the data shown below (quantities are in metric tonnes): a. Determine...

Answered: 1 week ago

Previous Question Next Question