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Q. Explain Merchandising companies?
Merchandising companies buy goods that are ready for sale and then sell them to customers. Merchandising companies comprise clothing stores, auto dealerships and supermarkets. We begin the description of accounting for merchandising companies in next section.
Define Carriage outwards.
20 hypothetical inventory transactions both sale and purchase
Q. Steps used in retail inventory method? The retail inventory method approximation the cost of the ending inventory by applying a cost/retail price ratio to ending inventory s
trying to put the numbers into the correct asset t-account and not adding up
procedure followed in government system of accounting in india
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
Q. Sales Returns and Allowances account? The Sales Returns and Allowances account is the contra revenue account to Sales that records the selling price of merchandise returned
Q. What is current ratio in terms of accounting? The current ratio specifies the short-term debt-paying ability of a company. To find the current ratio we divide current assets
A bank statement showed an overdraft of $750. A cheque issued in payment of rent for $570 had not been presented, and a cheque for $624 received was omitted from the statement. The
Q. FIFO under periodic inventory procedure? The FIFO (first-in, first out) method of inventory costing suppose that the costs of the first goods purchased are those charged to
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