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Q. Define purchase discounts and purchase returns? Two general deductions from purchases are (a) purchase discounts and (b) purchase returns and allowances. In the general ledg
Q. Show Approximation of periodicity? Approximation and judgment because of periodicity To offer periodic financial information accountants must often estimate expected uncolle
Q. Describe about Cash role in balance sheet? Cash includes deposits in banks obtainable for current operations at the balance sheet date plus cash on hand consisting of un-dep
Q. Illustrate about corporation? A corporation is an incorporated business under the laws of a state and owned by a few stockholders or thousands of stockholders. Approximately
how do we credit debit cash received from owner
Determine the types of Credit card sales Bank Credit Card Sales - Most retail businesses accept bank credit cards. Treated as a CASH sale. Recording Bank Credit Card Sale
Forms of business organizations Accountants habitually refer to a business organization as an accounting entity or a business entity. A business entity is some business organiz
Q. What is Public accounting? Public accounting firms offer professional accounting and related services for a fee to organizations, other companies, and individuals. An accoun
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
The analysis focused primarily on the role, structure and funding arrangements for the International Accounting Standards Board (IASB), an entity that has been responsible for majo
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