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Q. Starting inventory and net cost of purchases? Hanlon's start inventory (USD 24000) plus net cost of purchases (USD 166000) is equivalent to cost of goods available for sale
Q. What is matching principle? Expense recognition is closely related to as well as sometimes discussed as part of the revenue recognition principle. The matching principle sta
ABC Company uses cash basis accounting for its records. During 2010, ABC collected $400,000 from its customers, made payments of $300,000 to its suppliers for inventory, and paid
what is the exact meaning of journal that we doing entries??
The organization's name is Coffee Affectionardo Pty Ltd and the company imports and sell various types of coffee machines, grinders, filters and beans. The business has two dir
What is Time orientation Financial accounting reports reflect position and performance of business for the past period. Essentially, they are backward looking. Management accou
Q. Explain about cash discount? In a few industries credit terms include a cash discount of 1 percent to 3 percent to induce untimely payment of an amount due. A cash discount
What process for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back surplus amount how do in oracle apps? Ans
Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac
Q. What is Variable cost? Variable cost -- a cost which changes as production or sales change. If a business is producingnothing and selling nothing, variable cost must be zero
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