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Advantages and disadvantages of FIFO The FIFO method has four main advantages (a) it is easy to apply (b) the assumed flow of costs corresponds with the normal physical flow o
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
what is going concern concept
I want a company law assignment
Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000 Building $150,000 Notes Payable $9,000 Equip
At the end of 2011 Samuda reported a balance in Account receivable of $620,000 and estimated that $12,400 of this account would likely be uncollectible. The allowance for doubtful
format of the account
Brown sole trader Brown has been in business for some years and has kept her drawings slightly below the level of profits each year. You are her accountant, and she has passed
Angel Individual investors which are often called angels, make capital investments in entrepreneurial ventures in return for equity (partial ownership) in the industry. These
Effects of transaction An asset supplies on hand increases (debited) as well as a liability accounts payable increases (credited) by USD 1400. The debit is to Supplies o
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