Company A wants to distribute the rent expense to its various departments on the basis of floor space. It has taken these steps:1) capturing the floor space that is used by each department in a statistical account2) creating a journal entry for the rentIdentify the next two steps required to distribute the rent cost to the various departments. (Choose two.)
A reversing journal entry can be posted into _____.
The GL user entered a taxable journal and posted it. Later, the user realized that the tax code entered was wrong. What must the user do?
The fiscal year of XYZ Inc. is the calendar year. Before closing the Mar-05 period, a GL user notices that an entry related to the Dec-04 period has not been entered. Dec-04 has a closed status. Now that the user has all the approvals, he or she wants to know how to enter and post the journal in GL, ensuring that all balances are reflected correctly.What must the user do?
ABC Inc.'s calendar is the fiscal year. They also use Average Balance Processing.ABC's accrual category is defined with AutoReversal, with the reversal period as the next day, and an effective date rule of roll. An accrual journal entered on 29-Apr-05 will be reversed on the _____.
What is a benefit of the secondary tracking segment?
