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Q. Explain accounting cycle?
Creditors, Investors as well as Managers use these statements in evaluating management's past decisions and as a basis for making future decisions. In this section, you as well study the accounting process or accounting that accountants use to prepare those financial statements. This accounting cycle uses financial data such like the records of sales made to customers and purchases made from suppliers. In a systematic manner the accountants analyze record and classify, summarize and finally generate report these data in the financial statements of businesses. As you study this section you will start to understand the unique systematic nature of accounting-the language of business.
Determine the term - Working capital and current ratio Determining these ratios would help a business determine if will have enough capital to operate and can meet their debts.
Q. What is T-account? To exemplify recording the increases and decreases in an account texts use the T-account which appear like a capital letter T. The name of the account suc
Q. Example of horizontal analysis? Several companies have been restructuring their organizations and reducing the number of employees to cut expenses. AT&T, General Motors, IBM
Accounts payable subsidiary ledger Accounts are designed to show balance owed to every creditor. Liability accounts generally have credit balances. Accounts are not assigned nu
help with journalizing payroll transactions and filling on the cash payments journal, may 15, paid cash for april's payroll tax liability. withheld taxes from april payrolls; emp
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
While perusing medical practice, is the cost of supplies, for patients on site, considered as an inventory, or an incidental cost? With 2 million in sales the chemotherapy medicine
Pro forma Financial Statements In accounting, a financial statement in which the amounts begin are fully or partially estimates; from the Latin for "as a matter of form."
types of legancies
Jane and Walt form Orange Corporation. Jane transfers equipment worth $475,000 (basis of $100,000) and cash of $25,000 to Orange Corporation for 50% of its stock. Walt transfers
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