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Q. Advantages of Weighted-average?
Weighted-average: Advantages because of the averaging process the effects of year-end buying or not buying is lessened. Drawback Manipulation of income is possible.
- Perpetual inventory procedure needs an entry to Merchandise Inventory whenever goods are returned, sold, purchased or otherwise adjusted so that inventory records reflect actual units on hand at all times. Therefore an entry is required to record cost of goods sold for each sale.
- Companies must not carry goods in inventory at more than their net realizable value. Net realizable value is the approximate selling price of an item less the estimated costs incurred in preparing the item for sale and selling it. Inventory items are written down to market value while the market value is less than the cost of the items. If market value is more than cost the increase in value isn't recognized. LCM may perhaps be applied to each inventory item every inventory class or total inventory.
Bank for International Settlements (BIS) A consortium bank recognized to coordinate the collection and rescheduling of German reparations after World War I, the BIS has surviv
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2013 Debit Credit Cash $
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A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00
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The balance sheet account as of July 31, 1995 for altona company are as follows: Capital: (fix lib) 35,630 Office Equipment (ass) 16730 Delivery Truck
Any activity which you perform is assist if you comprise a set of rules to guide your efforts. Moreover, you determine that these rules are of more value to you if they are standar
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
.What method of tax accounting used, Taxation
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