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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 need to pay. Accounts Payable account will also be reduced as it's the controlling account.
Revenues from the theatrical supply of motion pictures are recognized when motion pictures are exhibited. Television licensing revenues are recorded while the program material is a
Q. Advantage of a pre-inventory sale? Have you still taken advantage of a pre-inventory sale at your favourite retail store Many stores offer bargain prices to decrease the mer
Q. Explain about Exchange-price or cost principle? When resources are transferred between two parties such like buying merchandise on account the accountant must follow the exc
Exercise 5-2 - Harwick company. 1) On April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2)On April 6, paid freight costs of $
Q. Show Advantages and disadvantages of weighted-average? Advantages and disadvantages of weighted-average when a company utilizes the weighted average method and prices are ri
ACCOUNTING STANDARDS An Accounting Standard is a elected set of accounting policies or broad strategies concerning the principles and methods to be elected out of numerous subs
Common size Financial Statements: Below this process, the total of the tasks side and the total of the possessions side of a Balance Sheet are taken as 100 and each item in
1. PDQ Corp. has sales of $4,000,000; the firm''s cost of goods sold is $2,500,000; and its total operating expenses are $600,000. The firm''s interest expense is $250,000, and the
#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
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
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