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DOUBLE ENTRY, Accounting Basics
HOW TO DO DOUBLE ENTRY QUESTIONS
Posted Date: 11/14/2012 11:56:18 PM | Location : Tanzania, United Republic of
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What do you mean by partnership, Q. What do you mean by partnership? A ...
Q. What do you mean by partnership? A partnership is a non-incorporated business owned by two or more persons associated as partners. Habitually the same persons who own the bu
Example of periodic inventory procedure, Q. Example of Periodic inventory p...
Q. Example of Periodic inventory procedure? Periodic inventory procedure Merchandising companies selling small unit value merchandise such like nuts and bolts Christmas cards n
Income statement, Hermann Industries is forecasting the following income st...
Hermann Industries is forecasting the following income statement: Sales $10,000,000 Operating costs (excluding depreciation and amortization) 5,500,000 EBITDA $4,500,000 Depreciati
Can a buyer still avail the 2% discount if he/she partially, can a buyer st...
can a buyer still avail the 2% discount if he/she partially paid the accounts receivable at the 5th day and the full payment is on the 10th day of the given discount period in th
What do you mean by account, Q. What do you mean by account? An account...
Q. What do you mean by account? An account is a division of the accounting system used to classify and summarize the decreases, increases and balances of each liability, asset,
Journal Entries, For my accounting class, how would I journalize the adjust...
For my accounting class, how would I journalize the adjusting entry for Annual depreciation is $3,480 on the building with the building amounting to $76,000 on the trial balance fo
State the term- debits must always equal credits, State the term- Debits mu...
State the term- Debits must always equal credits To help understand Temporary Owner's Equity accounts. All transactions which affect owner's equity could be recorded in one
Adjustments, 2 deprecation on equipment is calculated at 10% per annum on c...
2 deprecation on equipment is calculated at 10% per annum on cost price new equipment for R400 was purchased on 1 December 2012 and has been recorded
On june 1st, On June 1st, Green Pea, Inc. purchased $1,200 worth of supplie...
On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts? a. Increase supplies and accounts payable by $
Journalize and post the July transaction, Gracie invested P12000 cash in th...
Gracie invested P12000 cash in the business.
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