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Mohan brothers invoiced goods to their branch at cost plus 33.33%. All the cash collected by branch is banked on the same day to the credit of head office. All expenses are paid by
Q. Illustrate about accounting cycle? The accounting cycle is a series of points performed during the accounting period some throughout the period and some at the end to reco
what is an accounting cycle
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
the meaning of dual concept
Why it is important for independent auditor to be a member of a professional body?
The open items of an account can only be cleared once you post an identical offsetting amount to the account. In other words, the balance of the items assigned to every other must
Earned service revenue and received cash As its first transaction in July Metro performed deliverance services for customers and received USD 4800 cash. This transaction improv
Q. What do you mean by Cross-indexing? Usually, accountants should check and trace the origin of their transactions so they provide cross indexing. Cross-indexing is the insert
Workers compensation insurance Workers compensation insurance provides protection for employees who suffer a job-related illness or injury. Entire cost is generally paid by t
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