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Q. Explain the Adjusting Journal Entry?
Adjusting Journal Entry - An accounting entry made into a subsidiary ledger known as the Generaljournal to account for a periods changes, omissions or other financial data essential to be reported‘in the books' but not generally posted to the journals used for typical period transactions (cashreceipts journal, cash disbursements journal, payroll journal, sales journal and so on) entry is posted to general ledger accounts directly and generally will be numbered itself, datedand have an explanation. Illustration: AJE# 1 12-31-2003, debit Cash in bank $1,000. Creditinterest income $1,000, to record interest income on business bank account at year end, notrecorded in cash receipts journal though credited by the bank. (Cross-reference bank reconciliationand account where it was found)
OTC refers to financial securities whose sale and purchase are not conducted over a stock exchange.
What is meant by Leverage? What are its different types? With what type of risk is associated with each type of leverage. (Explain with illustration)
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What are the assumptions of MM(Modigliani Miller) approach?
You need to tick all the boxes below to acknowledge that your Statement of Advice complies will all the requirements. This checklist needs to be appended to the cover sheet of the
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State the factors of Tests of controls Tests of controls may include · Enquiries and observations corroborating internal control functions. Inspection of docu
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