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Adjusting entries in the general journal
Be sure to put down the words "Adjusting Entries" at the beginning of journal after the last entry of month. By placing these words at the beginning of these entries, it isn't essential to have an explanation at the end of every set of adjusting entry Trans actions. Entries must be listed with a date, debit and then credit. Credit must be indented in the journal.
Q. Illsutarte the Summary of transactions? Summary of transactions is a teaching tool utilized to show the effects of transactions on the accounting equation. Note that the sto
.1 INTRODUCTION The world keeps developing new ways and technologies to help do things and achieve a timeline shorter compared to the way it previously used to be done. New techn
A business had always made a provision for doubtful debts at the rate of 5% of debtors. On 1 January 2017 the provision for doubtful debts brought forward from the previous year wa
Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation
A method of expressing the relationship between one accounting result and the other, which is intended to give a useful comparison. Accounting ratios helps in measuring the efficie
Credit what comes in. Debit what goes out.
Q. Explain about Going-concern concept? Except strong evidence exists to the contrary accountants assume that the business entity will continue operations into the indefinite
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
Your client, Hope, of Hope's Country Corner, is curious about two events will influence both taxable and financial income. The first event involves the purchase of pottery-making e
Discuss the considerations that management should take into account in determining the design of an accounting system which will satisfy both (i) its own information requirements a
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