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Q. Describe about ledger?
A ledger (general ledger) is the absolute collection of all the accounts of a company. The ledgers are feasibly in a bound volume in, loose-leaf form or in computer memory. Accounts plunge into two general groups (a) balance sheet accounts (assets, liabilities, and stockholders' equity) and (b) income statement accounts (revenues and expenses). The terms permanent accounts and real accounts as well refer to balance sheet accounts. Balance sheet accounts are real accounts for the reason that they aren't sub classifications or subdivisions of any other account.
They are permanent accounts for the reason that their balances are not transferred (or closed) to any other account at the end of the accounting period. Dividends accounts and the account Income statement are nominal accounts for the reason that they are merely sub classifications of the stockholders' equity accounts. Nominal literally indicates that ‘in name only'. Nominal accounts are as well called temporary accounts because they temporarily contain revenue expense and dividend information that is transferred (or closed) to the Retained Earnings account at the end of the accounting period.
Explain the Recording employer's payroll taxes Debited to an expense account-Payroll Tax Expense. Credited to individual Tax Payable accounts These amounts are then sent
The organization's name is Coffee Affectionardo Pty Ltd and the company imports and sell various types of coffee machines, grinders, filters and beans. The business has two dir
Q. Explain about Gross margin method? The steps in computing ending inventory under the gross margin method are - Estimate gross margin based on net sales using the similar
contributed her $10000 in exchange for $1000 of the shares. this was deposited into a new corporate bank account she set up with TD canada trust
Q. Dependability of information? Additionally to being relevant information must be reliable to be useful. Information has reliability when it faithfully describes for users wh
Q. Example of Unearned service fees? Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm
Rondo plc, a sports apparel manufacturer with a cost of capital of 13.75%, is looking to expand its activity and is considering two possible countries to open a sales subsidiary. R
While studying evolution, a student comes across a cladogram that includes clades like amphibia, reptilia, aves, and mammalia. What must be the basal clade?
Determine about the Debit memorandum A debit memorandum is the buyer's written request to seller for credit. Individual account is debited to reduce the amount which they nee
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