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Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su
Q. Show Approximation of periodicity? Approximation and judgment because of periodicity To offer periodic financial information accountants must often estimate expected uncolle
Q. Explain about Period costs? Period costs are costs not noticeable to specific products and expensed in the period incurred. Administrative and Selling costs are period costs
Establishing the Change Fund Change Fund (asset) is debited and Cash is credited. Only time this fund would be used is if the fund is established or increased, just like Pet
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Market determines are useful for analyzing publicly traded corporations. Many of these calculates use stock price, which reflects the market's (public's) expectation for the compan
Analysing and Recording Process Question A friend knows that you are studying the Business Accounting 1 course, so he approaches you and enquires about the steps of the ana
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Q. Illustrate lower-of-cost-or-market method? Procter & Gamble markets a broad range of paper, cleaning, beauty care, health care, food, laundry and beverage products around th
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