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Classify the following items as (a) deferred expense (prepaid expense), (b) deferred revenue (unearned revenue), (c) accrued expense (accrued liability), or (d) accrued revenue (accrued asset). 116117 • 2. A three-year premium paid on a fire insurance policy. • 3. Fees received but not yet earned. • 4. Fees earned but not yet received. • 5. Utilities owed but not yet paid. • 6. Supplies on hand. • 7. Salary owed but not yet paid. • 8. Taxes owed but payable in the following period.
explain the separate set of books method for maintaining joint venture accounts
even after preparing BRS why does balance as per cash book and balance as per pass book do not tally?
Business transactions and the accounting equation A transaction is any activity which changes the value of a firm's assets, liabilities or owner's equity. Every transaction
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Q. Explain about Cash equivalents? Cash equivalents are highly liquid short-term investments obtained with temporarily idle cash and easily convertible into a known cash amount
You received an email from Carl the operations manager from the California Container division. They produce packaging for cell phones. Carl understands that his product is an imp
Benefits of Purchases Discounts Purchases Discounts account is used to record discounts given for prompt payment. To prove ACCOUNTS PAYABLE LEDGER , you will look at bala
what is an accounting cycle
journalizing payroll transactions, for Keller Systems;Inc, paid cash for april's payroll tax liability. withheld taxes from april payrolls; employee income tax,$532.00; social se
"Periodic Review" is the suitable method of controlling stock in hotel bar.
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