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Classified income statement
It is more involved for a merchandising business to conclude net loss or net income. Income statement is categorized into sections:
1. Revenue
2. Cost of Goods Sold
3. Operating Expenses
4. Income from Operations
5. Other Income and Expenses
Q. What do you mean by Overhead? Overhead -- a cost that doesn't vary with the level of production or sales and generally a costnot directly involved with sales or production.
what is assets and its type ?
The two fundamental sources of equity in a company are stockholders and creditors their combined interests are called total equities. To discover the equity ratio divide stockholde
Liquidity Ratios (Short Term Solvency Ratios): These Ratios calculate the capability of the firm to meet its current obligations. They point out whether the firm has enough li
Q. Advantages and Disadvantages of FIFO? FIFO: Advantages (a) FIFO is easy to apply (b) the assumed flow of costs habitually corresponds with the normal physical flow of goods
need help to do assignment
When common stock has a par value of $2 and a market value of $15: 1.) the liability of the stockholders is $13 per share 2.) there will be additional paid-in capital of $1
The 31st December 2009 trial balance of Anika Co. reported the following information. Dr. Cr. Allowance for Bad Debts........................... $2,300 During the year 2010 t
how its help
Why is it important for accounting information to be accurate and timely?
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