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Q. What do you mean by work sheet?
The work sheet is a columnar sheet of a computer spreadsheet or a paper on which accountants summarize information needed to make the adjusting and closing entries and to prepare the financial statements. Typically they save these work sheets to document the end of period entries. A work sheet is merely an accounting tool and not part of the formal accounting records. Consequently work sheets may vary in format some are prepared in pencil thus that errors can be corrected easily. Other work sheets are organized on personal computers with spreadsheet software. Accountants prepare work sheets every time financial statements are needed that is monthly or quarterly or at the end of the accounting year.
A user buys a new transponder for $20. What debit and credit entries would need to be made?
An inflated budgeted expense account
Wendell Corporation exchanged an old truck and $25,500 cash for a new truck. The old truck had a book value of $6,000 (original cost of $25,000 less $19,000 in accumulated depre
Q. Advantages and disadvantages inventory procedure? Advantages as well as disadvantages of specific identification Companies that utilize the specific identification method of
If you can earn 4 percent, how much will you have to save each year if you want to retire in 35 years with $ 1 million?
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
Q. What is Fixed cost? Fixed cost -- a cost that doesn't change as sales volume changes (in the short run.) Fixedcosts generally include such items as rent, interest, depreciat
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
1. Carmen Santiago works for a number of businesses as a “consultant.” She has helped design accounting systems, provided accounting services, and analyzed the financial s
need to get assignment done, its corporate accounting.
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