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Q. Describe about adjunct account?
The Transportation-In account files the inward freight costs of acquiring merchandise. Transportation-In is an adjunct account in that it is added to net purchases to appear at net cost of purchases. An adjunct account is closely interrelated to another account (Purchases in this example) as well as its balance is added to the balance of the related account in the financial statements. Recall that a contra account is immediately the opposite of an adjunct account. Buyers deduct a contra account such like accumulated depreciation from the related fixed asset account in the financial statements.
#quest1. Use the general journal to journalize the following transactions completed during July of the current year. 2. Post from the general journal to the general ledger. Using
The Dividends account increases (debited) as well as an asset cash decreases (credited) by USD 3000. Transaction 15 brings to a close the analysis of the Micro Train Company transa
Q. What are adjusting entries? When you start to analyze business transactions you saw that the evidence of the transaction is typically a source document. It is any printed or
Oil production has been proposed for an area along the coast off Southern California. Oil production would jeopardize the use of beaches along 10 miles of coast which are a major v
Federal income tax Except specifically exempted, all income (illegal and legal) is subject to personal income tax. Withholding depends on 1) employee's gross earnings, 2) emplo
Q. Describe about post-closing trial balance? A post-closing trial balance is trial balances taken subsequent to the closing entries have been posted. The only accounts that mu
Examine each of the items listed below to determine which items include statements that 3) would indicate that manufacturing diversity exists. Required: Label the items that inc
stpes to be taken prepaing for final accounts
Q. What do you mean by depreciable asset? A depreciable asset is a manufactured asset such like a building, vehicle, machine or piece of equipment that provides service to a bu
Assignment On accounting is language of business
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