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Q. Can you explain about balance sheet?
The balance sheet, sometimes called as the statement of financial position lists the liabilities, company's assets and stockholders' equity including dollar amounts as of a specific moment in time. That precise moment is the close of business on the date of the balance sheet. Observe how the heading of the balance sheet differs from the headings on the income statement and statement of retained earnings. A balance sheet is similar to a photograph it captures the financial position of a company at a particular point in time. The other two statements are meant for a period of time. As you study regarding the liabilities, assets and stockholders' equity contained in a balance sheet you will understand why this financial statement provides information about the solvency of the business.
Explain in detail about the MERCHANDISE INVENTORY Cost of merchandise purchased during an accounting period is debited to Purchases account. To determine VALUE of the goods on
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
Q. What is Depreciation? Depreciation -- an expense which is supposed to reflect the loss in value of a fixed asset. Forinstance if a machine will entirely wear out after ten y
what are the levels of accounting theory
Two techniques of accounting for inventory are perpetual inventory procedure and periodic inventory procedure. Under perpetual inventory procedure the inventory account is constant
Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi
beginning inventory,purchase,and sales data for commodity A are as follows november 1 inventory 1500units @k20.00 2 sold 5000unit @ 40.00 12 purchase 10000 units @22
Q. Explain about Traditional accounting theory? Conventional accounting theory consists of underlying assumptions rules of measurement major principles and modifying convention
Q. Effects of bias in terms of accounting? Where there is no correspondence the cause may be (a) bias or (b) lack of completeness. - Effects of bias. Accounting measuremen
A company uses 85 circuit boards a day in a manufacturing process. The person who orders the boards follows this rule: Order when the amount on hand drops to 625 boards. Orders are
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