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Benefits of Purchases Discounts
Purchases Discounts account is used to record discounts given for prompt payment.
To prove ACCOUNTS PAYABLE LEDGER, you will look at balance of the Accounts Payable account and balance of the Schedule of Accounts Payable. This schedule lists balances of the individual accounts which have amounts due. These two figures should balance.
Q. What do you eman by Expenditure? Expenditure -- an expenditure takes place when something is attained for a business -- an asset isbought, salaries are paid and so on. An ex
Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation
In November 2012, US based information technology Hewlett Packard recorded a write-down of around $8.8 billion related to its $11.3 billion acquisition of the UK based software mak
The type of accounting concerned with providing information and analyses to managers within the organization is referred to as
I am trying to figure out FIFO LIFO and AVERAGE COST of the ending inventory and the cost of goods sold.
how to do
State the steps of Merchandise inventory 1) TRANSFER THE BEGINNING INVENTORY FIGURE Debit INCOME SUMMARY for beginning inventory amount. Credit MERCHANDISE INVENTORY fo
Explain the term- Depreciation This is a term which is used to describe the expense which results from loss of usefulness of an asset because of age, wear and tear, and obsoles
Q. Define the Product costs? Product costs are costs earns in the acquisition or manufacture of goods. Since you will see in the next section included as product costs for purc
Determine about the revenue section Revenue section provides a figure for net sales, which is balance of the Sales account, less the balances of contra sales accounts. (Sales -
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