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Management accounting and financial accounting Accounting is generally seen as having two different strands which are: ? Management accounting that seeks to meet accounting
Q. What are Service companies? Service companies carry out services for a fee. This group comprise law firms, accounting firms and dry cleaning establishments. The early sectio
What is Purchase Returns?
Q. What is Current liabilities? Current liabilities are debts due inside one year or one operating cycle whichever is longer. The payment of current liabilities usually require
State the classified balance sheet ASSETS Current Assets are cash and any other assets which are expected to be realized in cash, sold, used up or expire within one year.
Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and received 4,000 shares of stock. The store completed its
Q. Example on closing process? This problem engross using a work sheet for Green Hills Riding Stable Incorporated for the month ended 2010 July 31 and performing the closing pr
the guinegog is a trader in portable cd-man. His budgeted output is 5000 units per quarter. The following data was available for the year 1998: Direct labour @ $6 Direct material @
A business had always made a provision for doubtful debts at the rate of 5% of debtors. On 1 January 2017 the provision for doubtful debts brought forward from the previous year wa
define accounting. Explain the accounting concepts which guide the accountant at the recording stage.
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