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Determine the Purchasing Procedures
Alarge company would use a "purchasing agent" who heads purchasing department. Small companies would use manager/owner, etc.
Seller receives order and sends an invoice (document which shows the name of buyer and seller, terms of sale, date, description, delivery, price, and total owed) sales and purchase invoice and merchandise.
When merchandise is received, it's checked against purchase order.
After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debi
A recent cash budget showed estimated cash receipts of $159,000, estimated cash disbursements of $155,000, and a desired ending cash balance of $6,000, with no borrowing of funds
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The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2013 Debit Credit Cash $
dividend received rs 100was posted to debit to dividend account. the rectification entry n will be what?
Q. Explain Weighted-average inventory? Weighted-average: Ensuing inventory is priced using a weighted-average unit cost. In perpetual inventory procedure a new weighted-average
How vital does Accounts receivable for small business and why? Ans) Accounts Receivables help small businesses by giving short-term liquidity. Also continued sales on cre
Q. Learning objectives of Horizontal and vertical analysis? - An account is a storage element used to classify and summarize money measurements of business activities of a simi
what is the accounting?
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