Question

What is meant by the term 'topside' journal entries?

Answer 1

Topside journal entries are divided into two sections: the top portion tracks imports and exports, while the bottom portion focuses on international financial investments.

Step-by-step explanation:

Topside journal entries refer to the upper section of a journal entry that records the flow of imports and exports and the corresponding payments. It is focused on tracking international trade transactions. On the other hand, the bottom section of the journal entry deals with international financial investments, such as stocks, bonds, real estate, borrowing, and lending.

Answer 2

The term "topside" journal entries refers to entries written in a vessel's or ship's logbook that were made on the main deck or "topside" of the ship rather than below decks. These entries were typically documented using a hand-held log or journal and would include information about the ship's course, speed, heading, and other navigational details. The "topside" journal was not the only type of ship's log, however, as many vessels also had a "bunk" or "below" journal used to record information in the lower sections of the ship.