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A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to record the earnings made on the sinking fund investment includes a debit to _____and a credit to __________. A. Cash for $1,100; Income from Sinking Fund Investment for $1,100 B. Cash for $1,100; Bond Sinking Fund Investment for $1,100 C. Bond Sinking Fund Investment for $1,100; Income from Sinking Fund Investment for $1,100 D. Cash for $1,100; Interest Income for $1,100
Q. Interest rate implied in cash discounts? Interest rate implied in cash discounts to decide whether you should take benefit of discounts by using your cash or borrowing makes
procedure followed in government system of accounting in india
Q. Show depreciation formula with example? The depreciation formula (straight-line) to calculate straight-line depreciation for a one-year period is: Annual deprecation = (
Q. Complicated type of business? Your study of accounting began with service companies as instance because they are the least complicated type of business. You are at present r
Q. Need for adjusting entries? The income statement of business information all revenues earned and all expenses incurred to generate those revenues during a given period. An i
Q. Prepare a trial balance with example? The Larry Fisher was captain of the football team at Prestige University. Afterwards he earned a master's degree in business administra
Q. Example of Electronic spreadsheets? Electronic spreadsheets have many applications in accounting. An electronic spreadsheet is basically a large blank page that contains row
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
Function and scope of the Accounting Standards Board: The major function of ASB is to originate accounting standards so that the Council of the Institute in India may set up su
Meranda Corporation purchases a machine for $125,000. It has an estimated salvage value of $10,000 an is expected to produce 50,000 units in its lifetime. During the first year of
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