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Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su
Q. Example of current ratio? The current assets and current liabilities and current ratios of some other companies as of the third quarter of 2001 were As you are able to se
Q. Describe Exceptions to the realization principle? Exceptions to the realization principle: The following illustrations are instances when practical considerations may cause
AL MASA a sole trader,decided to install a new machine to use
What are the golden rule of accounting how to pass journal entry when strating bussines what
Explain about the Management accounting Management accounting has also changed by becoming more outward looking in its focus. In past, information provided to managers has bee
The widget industry is perfectly competitive. The industry demand and supply functions for widgets are given below. Q d = 424 - 40P Q s = 40 + 8P a. What is the equi
The information contained in published financial statements is of specific importance to external users, as shareholders and investors. Without any information they would not be ca
Q. Explain about Long-term assets? Long-term assets are assets that a business has on hand or else uses for a relatively long time. Examples include plant, property and equipme
Q. Balance of the Merchandise Inventory account? The balance of the Merchandise Inventory account is a cost of the inventory that should be on hand. This fact is a major reason
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