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How vital does Accounts receivable for small business and why?
Ans) Accounts Receivables help small businesses by giving short-term liquidity. Also continued sales on credit give the much required continuity for small businesses.
Consistency Concept In practice, there are some manners to record an event or a transaction in the books of account. For illustration, the trade discount on raw material purch
Q. Describe the methods of recording? Two general deductions from gross sales are (a) sales discounts and (b) sales returns and allowances. Sellers trace these deductions in co
Provide an argument for including or not including current liabilities in the cost of capital calculation
A bauxite mine was acquired at a cost of $1,500,000 and estimated to contain 6,000,000 tons of ore. During the year, 95,000 tons were mined and sold. Prepare the journal entry fo
Q. What is Prepaid expense? A prepaid expense is an asset pending assignment to expense such as prepaid rent, prepaid insurance and supplies on hand. Note that the character of
Q. Explain about Equity or net asset? An equity or net asset is the residual interest in the assets of an entity that remains subsequent to deducting its liabilities and in the
I need help understanding my Accounting 205 class. Would some one please help me understand what I am having such a hard time comprehending.
AL MASA a sole trader,decided to install a new machine to use
assigment help
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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