BEG BAL

(redirected from Beginning Balance)
AcronymDefinition
BEG BALBeginning Balance
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IMRF, with a $32,000 beginning balance, amount of property tax $32,000 (down $2,000 from 2018-19) and $5,000 interest income, totaling $69,000.
Moving to the testing phase, USACE started with beginning balances. Based on the USACE IPA's analysis of the material balances within the DLA trial balance, the IPA decided to test four material areas.
$0 Remaining cost of the lease $287,777 Lease expense = $287,777 / 11 = $26,162 Unwinding of Present Value Beginning balance of lease liability $199,204 Incremental borrowing rate 5% Unwinding of present value (interest expense) $9,960 2016 Remaining Cost of the Lease Undisc, lease pay $283,777 + Initial direct costs $4,000 - Lease exp.
Similarly, the effects of the beginning and ending balances of unearned revenue are opposite upon conversion as well (ending balance subtracted and beginning balance added).
In their second year of retirement, if we assume a 5 percent average growth rate on their account assets, their beginning balance will have increased slightly to $254,100 (after factoring in their first year withdrawal).
In making a transition to the new standards, their effects should be reported as adjustments to prior periods and a restatement of the beginning balance sheet liability.
Table 2A: Schedule of Expected Cash Collections Accounts Receivable, beginning balance Q1-Y1 Q2-Y1 Q3-Y1 Q4-Y1 Accounts Receivable Q3-Y0 Accounts Receivable Q4-Y0 First Quarter Sales Second Quarter Sales Third Quarter Sales Fourth Quarter Sales Total Total Cash AR Accounts Receivable, Collections Total beginning balance Y1 Q1-Y2 Q2-Y2 at YE Accounts Receivable Q3-Y0 Accounts Receivable Q4-Y0 First Quarter Sales Second Quarter Sales Third Quarter Sales Fourth Quarter Sales Total * Prepare a production budget
Beginning Balance at 7/1/09 $137,599 Income Endowment distribution $139,798 Interest $1,445 Total Income $141,243 Expenses Travel, lodging, meals, miscellaneous $228 Editors', writers' and interns' fees $170,066 Website hosting and maintenance $706 Total Expenses $171,000 Ending Balance at 6/30/10 $107,842
Later chapters explain how to review QuickBooks data, and how to generate power reports for troubleshooting beginning balance differences.
CASH Date Description Debits Credits Balance Beginning Balance 10,995 May 08 Repair parts for 750 tractor 38 10,957 May 08 Borrowed money from bank 5,000 15,957 REPAIRS AND MAINTENANCE EXPENSE Date Description Debits Credits Balance Beginning Balance 0 May 08 Repair parts for 750 tractor 38 38 NOTES PAYABLE Date Description Debits Credits Balance Beginning Balance 0 May 08 Borrowed money from bank 5,000 5,000 Notice that each account has a running balance, so that the farm accountant always knows the balance in each account.
The value that one obtains by adjusting the beginning balance with the additions and subtractions is the net dollar exposure subject to the force of earnings, denoted herein as "E." "E" works as if the adjusted beginning balance had been in place at the beginning of the year and there were no transactions made throughout the year.
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