accounting system in india.., Accounting Basics

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procedure followed in government system of accounting in india

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Recording, does immaterial items have to be recorded

does immaterial items have to be recorded

Declared semiannual dividends of $1.20 on 75, Declared semiannual dividends...

Declared semiannual dividends of $1.20 on 75,000 shares of preferred stock and $0.08 on the 600,000 shares of $20 par common stock to stockholders of record on March 31, payable

Last-in first-out inventory, Q. Last-in first-out inventory? LIFO (last...

Q. Last-in first-out inventory? LIFO (last-in first-out): Ending inventory contains of the oldest costs. LIFO presumes that the costs of the most recent purchases are the first

Example of supplies on hand, Q. Example of supplies on hand? On 2010 De...

Q. Example of supplies on hand? On 2010 December 4 Micro Train Company buy supplies for USD 1400 and recorded the transaction as follows Micro Train's two accounts reci

Income taxes payable, Q. Income taxes payable? Taxes withheld from empl...

Q. Income taxes payable? Taxes withheld from employees comprise federal income taxes, state income taxes and social security taxes withheld from employees' pay checks. The comp

Joural Transaction, A machine valued on the books at $8500 was sold on cre...

A machine valued on the books at $8500 was sold on credit to $8000.

Dividends account, The Dividends account increases (debited) as well as an ...

The Dividends account increases (debited) as well as an asset cash decreases (credited) by USD 3000. Transaction 15 brings to a close the analysis of the Micro Train Company transa

Explain about trade discount, Q. Explain about trade discount? A trade ...

Q. Explain about trade discount? A trade discount is a percentage deduction or else discount from the specified list price or catalogue price of merchandise. Companies utilize

Ledger, ledger is said to be the principal book entry and the transactions ...

ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. elaborate on the statement and explain why journal is neces

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