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Q. Explain about Purchase returns and allowances?
Purchase returns and allowances A purchase return takes place when a buyer returns merchandise to a seller. When a buyer receives a decrease in the price of goods shipped a purchase allowance results. After that the buyer commonly uses a debit memorandum to notify the seller that the account payable with the seller is being reduced Accounts Payable is debited. The buyer may perhaps use a copy of a debit memorandum to record the returns or allowances or may wait for confirmation typically a credit memorandum from the seller.
Define Carriage outwards.
Q. Responsibility of Senior accountant? As a senior accountant Tracy will be accountable for the day-to-day management of several audit engagements during the year. She will pl
procedure followed in government system of accounting in india
Paid salaries to sales clerks
Q. What do you mean by Equities? Assets were described earlier as the things of value owned by the business or the economic resources of the business. Equities are every claims
Q. In between FIFO and lifo which one is the correct method? The differences for the four methods take place because the company paid different prices for goods purchased. No d
my unadjusted balance is not the same under credits and debits? And I can''t figure what went wrong.
Q. Explain about Merchandise inventory? Merchandise inventory is the quantity of goods assumed by a merchandising company for resale to customers. Merchandising companies verif
Q. What is the use of balance sheet? Balance sheet -- a statement of the financial position of a company at a single specific time(often at the close of business on last day
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
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