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Adjusting Journal Entries = These are the entries which are not recoded and is to be adjusted at the end of the year .For example; Supplies in hand Supplies expense A/C Dr. and Supplies A/C Cr.2) Salaries payable; Salaries expense A/C Dr. and Salaries Payable A/C Cr. 3) Prepaid Expense; Prepaid Expense A/C Dr.and particular expense Cr.4) Depreciation; Depreciation on Particular Asset A/C Dr. and Accumulated A/C Cr.
Dr. Cr.
Date
Particulars
Amount
To Common stock
$20000
By purchases
$10,000
By Balance C/D
Total
$20,000
This is an example of Cash A/C
Q. What is invoice? An invoice is a document prepared by the seller of merchandise as well as sent to the buyer. The invoice contains the details of a sale such like the number
Q. Equity segment of a corporate balance sheet? The stockholders' equity segment of a corporate balance sheet can become more complex as you will see later in the text. But the
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Invoice is a text which haves the under mentioned details compulsorily. 1. Invoice Number 2. Name and address of the person 3. Invoice date Name and address of someone
Definite the meaning of accounting equation
As discussing the scope of accounting you should have observed here the accounting involves a sequence of activities connected with each other, starting along with the collecting,
Q. Can you explain about Liabilities? Liabilities -- amounts owed by a company to others. Current liabilities are those amounts duewithin one year or less and generally include
t. liabilities ratio is the same as debt equity ratio?
Ordering inventory at a regular and set time interval
WHAT DO YOU MEAN BY ACCRUAL CONCEPT
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