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A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $77.00 B. $84.00 C. $92.00 D. $108.50
Hermann Industries is forecasting the following income statement: Sales $10,000,000 Operating costs (excluding depreciation and amortization) 5,500,000 EBITDA $4,500,000 Depreciati
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
Any activity which you perform is assist if you comprise a set of rules to guide your efforts. Moreover, you determine that these rules are of more value to you if they are standar
Financial statements Summaries of financial activities are known as financial statements that are prepared on a regular basis at the end of an accounting period. Accounting per
Q. What is Income Summary account? The Income Summary account is a clearing account used merely at the end of an accounting period to summarize revenues and expenses for the pe
explain accounting standard 14
The 31st December 2009 trial balance of Anika Co. reported the following information. Dr. Cr. Allowance for Bad Debts........................... $2,300 During the year 2010 t
Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en
Q. What do you mean by unearned revenue? A liability/revenue adjustment concerning unearned revenues covers situations in which a customer has transferred assets typically cash
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