accounting terminology, Accounting Basics

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what the accounts maintained in retail business

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State the term- purchases returns and allowances, State the term- Purchases...

State the term- Purchases Returns and Allowances Purchases Returns and Allowances is the name of the account which provides better control of allowances and returns of mercha

Funds flow analysis, Funds Flow Analysis :  This study is occasionally c...

Funds Flow Analysis :  This study is occasionally called as 'Statement of alter in Financial Position".  Beneath this analysis, a declaration is prepared which give details the

Calculate the amount of accounts receivable, Cowhand's Bar-B-Q House went i...

Cowhand's Bar-B-Q House went into business on January 1, 2009. The following information is available at December 31, 2009: Sales revenue for the year $30

Accounting standards, The fundamental concepts, discussed in the previous p...

The fundamental concepts, discussed in the previous paragraphs, are the core components in the theory of accounting. Such concepts as postulates or conventions, although, permit a

Sales returns affect both revenues and cost of good, Q. Sales returns affec...

Q. Sales returns affect both revenues and cost of good? When a company sells merchandise to customers then it transfers the cost of the merchandise from an asset account that i

Target company issues bonds with a par value, Target Company issues bonds w...

Target Company issues bonds with a par value of $900,000 on their stated issue date. The bonds mature in 10 years and pay 10% annual interest in semiannual payments. On the issue

Ledger, ledger is said to be the principal book entry and the transactions ...

ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. elaborate on the statement and explain why journal is neces

The total assets of capp co. are $600, The total assets of Capp Co. are $60...

The total assets of Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.'s owner's equity?

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