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Distinctions between management and financial accounting We can observe that management accounting is less constrained than financial accounting. It may draw from a range of s
What are the golden rule of accounting how to pass journal entry when strating bussines what
A machine valued on the books at $8500 was sold on credit to $8000.
Q. Explain Merchandise in transit? Merchandise in transit is merchandise in the hands of a shipment company on the date of a physical inventory. As stated above buyers should
Q. Explain about Modifying conventions? In certain examples companies don't strictly apply accounting principles because of modifying conventions (or constraints). Modifying co
define accounting.Briefly explain the accounting concepts which guide the accountant at the recording stage.
Q. Illustrate about corporation? A corporation is an incorporated business under the laws of a state and owned by a few stockholders or thousands of stockholders. Approximately
Adjusting entries. You have been retained to examine the records of Kathy's Day Care Center as of December 31, 20X3, the close of the current reporting period. In the course o
Q. Illustrate Periodic inventory procedure? Companies by means of periodic inventory procedure make no entries to the Merchandise Inventory account nor do they maintain unit re
current and non current liabilties
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