asset, Accounting Basics

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Explain about the RECORDING PURCHASES Source document for recording a purchase of merchandise is purchase invoice. o An instance of a transaction of purchasing merchandise

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FICA Tax (Social Security) Both the employee and the employer contribute equally. OASDI has a Taxable Wage Base that is the maximum amount of earnings during a calendar y

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Q. Inventories and revenue recognition? Management make a decision which inventory costing method or methods (LIFO, FIFO, and so on.) to use. As well, management should determi

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Adjusting entry, office supplies on hand at year end amounted to 3000

office supplies on hand at year end amounted to 3000

What do you mean by not-for-profit organizations, Q. What do you mean by No...

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Explain accounts payable, Q. Explain Accounts payable? Accounts payable...

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When does something that is a debit becomes a credit?

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