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Q. Explain about realization principle? Realization of revenue Under the realization principle the accountant doesn't recognize (record) revenue until the seller obtains the ri
#How to make journal entries?
Q. Explain Periodicity assumption of accounting? As-per to the periodicity (time periods) assumption accountants divide an entity's life into months or years to report its econ
Accrual basis of accounting means that the costs or revenues of events are renowned in the period in which they happens; by the cash flows may take place in another accounting peri
Which statements about marginal costing are correct? 1. The marginal cost of a product involves an allowance for fixed overheads. 2. The marginal cost of a product presents t
Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p
what is journal entry
A recent cash budget showed estimated cash receipts of $159,000, estimated cash disbursements of $155,000, and a desired ending cash balance of $6,000, with no borrowing of funds
A) During the year, total liabilities enhanced $106,010 and stockholders' equity reduced $67,590. What is the amount of total assets at the end of the year? B) If total assets e
Explain the business assets Withdrawal Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of
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