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SQB Corporation reports sales of $10,000,000 for Year 2, with a gross profit margin of 40%. 20% of SQB's sales are on credit. Year 1 Year 2
Standards at International Level: In view of the development of international trade and multinational enterprises, the requirement for standardization at the international level w
Standardization in UK and USA: although the Institute of Chartered Accountants in England and Wales began creating recommendations as 1942, real progress started along with the es
You must be aware about the most of business are made through cheques these days. It involves the bank whether the firm has opened its own account. Thus when payment is made by che
These are assets or things of value without physical dimensions. They cannot be touched; they representing intrinsic value without material being and they are incorporeal. One of t
Loss and Profit Account is prepared so as to discern whether the firm has made net profit or suffered net loss for a specified accounting period. Such account deals along with indi
Accounting Concepts: The dual aspect principle has specific relevance to balance sheet. According to this principal, every transaction is concerned as one that has dual ef
A firm of manufactures, whose books are closed on 31st December, purchased machinery for Rs.50,000 on 15 January, 2010. Additional Machinery was acquired for Rs.10,000 on 1st July,
3. Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
Prepare the Trading Account from the subsequent figures: Opening Stock 40,000 Power 6,000 Purchases 1,80,000
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