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Q. What is T-account?
To exemplify recording the increases and decreases in an account texts use the T-account which appear like a capital letter T. The name of the account such like Cash appears across the top of the T. We record enhance on one side of the vertical line of the T and decreases on the other side. A T-account look as follows
An accounting perspective: Business insight
Have you yet considered starting your own business? If subsequently, you will require understanding accounting to successfully run your business. To identify how well your business is doing you should understand and analyze financial statements. Accounting information as well tells you why you are performing as reported. If you are in business to develop or sell a certain product or perform a specific service you can't operate profitably or consider expanding unless you base your business decisions on accounting information.
For instance if you an owner invest cash in your business the company's assets increase as well as its stockholders' equity increases. This result was exemplify in the summary of transactions. In the subsequent steps in posting and recording the effects of a business transaction sections we use credits and debits and the double-entry procedure to record the increases and decreases caused by business transactions.
2 deprecation on equipment is calculated at 10% per annum on cost price new equipment for R400 was purchased on 1 December 2012 and has been recorded
Having discussed the possibility of accounting and its emerging function, we are currently in a position to illustrates as to who is an accountant. In an attempt to reply this ques
Q. Illustrate the Financial accounting process? In this section we describe the accounting equation as the framework for the entire accounting process. Then we demonstrate you
How to calculate the postretirement expense
Notes to financial statements
xyz manufactures plastic shelving. The annual fixed cost for its current injection equipment is $ 100,000 variable cost is $25 per unit. The annual fixed cost for a new system is $
where dose inventory changes aper on the balance sheet
Uses of the Profit and Loss Account 1) The key utilize is to monitor and calculate profit. This suppose that the informat ion recording is correct. Significant harms can arise
i need help with predisco
Q. Show Periodicity concept? As per to the periodicity (time periods) concept or assumption an entity's life can be meaningfully subdivided into time periods (such as months or
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