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Q. Show Unearned revenues?
Unearned revenues- revenues received in advance consequence when a company receives payment for goods or services before earning the revenue such as payments for subscriptions to a magazine. These unearned revenues signify a liability to perform the agreed services or other contractual requirements or to return the assets received. Companies report any current instalment on long-term debt due within one year under current liabilities. The outstanding portion continues to be reported as a long-term liability.
Q. Show Accumulated depreciation account with example? Micro Train credits the depreciation amount to an accumulated depreciation account which is a contra asset rather than di
SALES DISCOUNTS AND CASH RECEIPTS JOURNAL SALES DISCOUNTS Sales discount is recorded as a reduction in sales revenue. CASH RECEIPTS JOURNAL Source documents: ca
exploration costs for mining companies are assets?.
Q. Illustrate lower-of-cost-or-market method? Procter & Gamble markets a broad range of paper, cleaning, beauty care, health care, food, laundry and beverage products around th
i dont get how it is done
Q. Explain about debits and credits? Accountants utilize the term debit instead of saying place an entry on the left side of the T-account. They utilize the term credit for Pla
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
#2, The comparative balance sheets and income statements of Worsley Ltd are shown below. Worsley Ltd. Statement of Financial Position as at December 31 Current Assets 20x3
A company absorbs overheads on machine hours that are budgeted at 11,250. The budgeted overhead is $281 250. Results illustrate actual hours of 10 980 and overhead of $276 652.
A great tool to import and certify transaction data from other financial systems and make invoices debit memos credit memos and on-account credits Setup steps: 1. Describe th
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