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Accounts payable subsidiary ledger
Accounts are designed to show balance owed to every creditor. Liability accounts generally have credit balances. Accounts are not assigned numbers however are arranged in alphabetical order to make it easy to add new accounts and remove inactive accounts.
When all posting is complete, balance of the Accounts Payable account would equal the sum of balances of the creditors' accounts. This is known as "controlling" account.
When posting, be careful that BOTH subsidiary ledger and general ledger are posted. Daily posting is done to individual ledger accounts. Totals are posted at the end of the accounting period, usually a month.
Determine the additional cash a company could obtain from its working capital accounts if it can improve its average collection period by three days and inventory turnover by 0.5 t
what is assets and its type ?
Q. Explain about income statement? The income statement, sometimes called as an earnings statement that reports the profitability of a business organization for a stated period
Q. What is Current liabilities? Current liabilities are debts due inside one year or one operating cycle whichever is longer. The payment of current liabilities usually require
10% preference share 336 ooo ordinary share capital 480 000 prepare a statement of profit or loss
i want to do accounts assignment
XYZ Technology had $640,000 of retained earnings on December 31, 2010. The company paid common dividends of $50,000 in 2010 and had retained earnings of $500,000 on December 31, 20
Assume in Balance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?
Q. What do you mean by Overhead? Overhead -- a cost that doesn't vary with the level of production or sales and generally a costnot directly involved with sales or production.
Webster, Inc. began operations at the start of the present year, having a production target of 60,000 units. Real production totalled 60,000 units, and the company sold 95% of its
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