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DEFINITION OF COST ACCOUNTING DEFINITION: as said by the Institute of Cost and Works Accountants (ICWA), London, Cost accounting is " the method of accounting for costs from t
Zack is a farmer who buys his feed and fertilizer from a farmer cooperative. In 2012, Zack purchased $300,000 in feed and fertilizer for the farm and $10,000 of household goods. Be
Define the term- FICA TAX This is a matching tax paid equally by employee and employer. Two parts-OASDI and HIP. Current rate for OASDI is 6.2% on the first $102,000 earned
#How to make journal entries?
Calculate, CPA, is compiling a cash flow statement for his client, Happy Hal Printing. Over the course of the year Happy Hal acquired new equipment by putting down half of the purc
Question 1 Briefly explain the functions of accounting Question 2 Explain the three branches of accounting Question 3 What is single entry system? What are the advantages and
"Imagine yourself in a situation of being encouraged to inflate your expense account. Do you think your choice would be most affected by your individual moral development or by the
Inflation Accounting: It is related along with the adjustment in the value of assets that is current and fixed and of income in the light of changes in the price level. In a
Q. Explain Merchandising companies? Merchandising companies buy goods that are ready for sale and then sell them to customers. Merchandising companies comprise clothing stores,
What does a business owner do when the cash balance approaches zero and there are bills to be paid? (Hint: look at the financing activities of the Cash Flow Statement and then lo
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