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systems understanding aid, Accounting Basics
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Posted Date: 1/29/2013 8:30:38 PM | Location : United States
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Define gains and losses, Q. Define Gains and Losses? Gains are raise in...
Q. Define Gains and Losses? Gains are raise in equity net assets from peripheral or incidental transactions of an entity as well as from all other transactions and other events
Explain about period costs, Q. Explain about Period costs? Period costs...
Q. Explain about Period costs? Period costs are costs not noticeable to specific products and expensed in the period incurred. Administrative and Selling costs are period costs
Prefferred dividendes, matt schmidt company''s ledger shows the amount of
matt schmidt company''s ledger shows the amount of
Enumerate about the income summary account, INCOME SUMMARY ACCOUNT This...
INCOME SUMMARY ACCOUNT This is a temporary account which used to summarize the balances of temporary revenue and expense accounts. This is also known as a clearing account. The
Imprest system, at the end of May he has a voucher for expenditure of $270 ...
at the end of May he has a voucher for expenditure of $270 and a balance in hand of $30. explain what the imprest amount is
Valuation of ending inventory, Q. Valuation of ending inventory? First ...
Q. Valuation of ending inventory? First a merchandising company should be sure that it has properly valued its ending inventory. If the resulting in an ending inventory is over
Adjusted trial balance, on 10/15 the academy agreed to teach a four month c...
on 10/15 the academy agreed to teach a four month class (beginning immediately) to an individual for $2,200 tuition per month payable at the end of the class. the class started on
Explain about modifying conventions, Q. Explain about Modifying conventions...
Q. Explain about Modifying conventions? In certain examples companies don't strictly apply accounting principles because of modifying conventions (or constraints). Modifying co
Accounting errors-transaction errors, Accounting Errors-Transaction Errors ...
Accounting Errors-Transaction Errors How would the following errors affect the account balances and the basic accounting equation, Assets = Liabilities + Owners' Equity? How do the
Explain the term - federal income tax, Federal income tax Except specif...
Federal income tax Except specifically exempted, all income (illegal and legal) is subject to personal income tax. Withholding depends on 1) employee's gross earnings, 2) emplo
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