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Accounting process in operation
Micro Train Corporation is a small corporation that provides on-site personal computer software training using the clients' equipment. The company tenders beginning through advanced training with convenient scheduling. A small convoy of trucks transports personnel and teaching supplies to the clients' sites. The company lease a building and is responsible for paying the utilities.
We exemplify the capital stock transaction that occurred to form the company (in November) and the first month of operations (December). The accounting process utilized by this company is similar to that of any small company. The ledger accounts utilized by Micro Train Corporation are
Notice the gaps absent between account numbers (100, 103, 107, etc.). These gaps permit the firm to later add new accounts between the existing accounts.
Implication of applying accounting concept wrongly
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912
Q. What is Accounts receivable? Accounts receivable as well called trade accounts receivable are amounts owed to a business by customers. An account receivable occurs when a co
state why carriage inwards is stated on the trading account
i need help with predisco
A bank statement showed an overdraft of $750. A cheque issued in payment of rent for $570 had not been presented, and a cheque for $624 received was omitted from the statement. The
Suppose a firm owns oil well assets. It is deciding how much oil to extract from its oil wells this year and next year. Production of oil costs $10 per barrel this year; next year,
Hi, How to get help with tutor, in accounting exam prepartion? please suggest?
Solution Manual
You have been engaged internal auditor by the management of Alden proprietary limited to review its internal control over the purchases, receipt, storage and issue of raw material.
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