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Q. Adjustments for accrued items?
Accrued items need two types of adjusting entries asset/revenue adjustments and liability/expense adjustments. The first group asset/revenue adjustments engage accrued assets and the second group liability/expense adjustments involves accrued liabilities.
PROFIT AND LOSS ACCOUNT CONCEPTS: The initial point in accepting the profit and loss account is to be clear about the Significance of "profit". Profit is the return for taki
Q. Explain about closing process? Expense, revenue and dividends accounts are nominal (temporary) accounts that are merely sub classifications of a real (permanent) account Ret
Q. Modifying conventions on Materiality? The Materiality is a modifying convention that permits accountants to deal with immaterial (unimportant) items in an expedient however
Give me some problems in acoounting transactions so I can answer it.
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
The salaries paid in 2004 is Rs. 5,00,000; Salaries outstanding is Rs. 20,000; Salaries paid in advance for 2004 is Rs. 30,000. What is the actual salary expenditure for 2004? Wh
20 hypothetical inventory transactions both sale and purchase
journalizing payroll transactions, for Keller Systems;Inc, paid cash for april's payroll tax liability. withheld taxes from april payrolls; employee income tax,$532.00; social se
list me all the asset in the world?
Q. Show Approximation of periodicity? Approximation and judgment because of periodicity To offer periodic financial information accountants must often estimate expected uncolle
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