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Advantages of setting Accounting Standards: 1. Setting of Accounting Standards will decrease the variations in the preparation of financial statements significantly. 2. Sett
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. Seasonality in sales? Based upon its operating record the company believes that its business is seasonal. Excluding the result of net sales, new store openings and earnings
Q. Explain about perpetual inventory procedure? When discussing inventory we require clarifying whether we are referring to the physical goods on hand or the Merchandise Invent
Adjusting entries in the general journal Be sure to put down the words "Adjusting Entries" at the beginning of journal after the last entry of month. By placing these words at
ABC's Product information Current Product Expansion Product (estimate) Selling Price $14.50 $ Units produced and expected to be sold 80,000 5,000 Machine Hours 40,000 5,00
ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. elaborate on the statement and explain why journal is neces
Company A has only been in existence for two full years as a public company. Prior to this, it was a segment of large multinational and was spun off as stand-alone, public company.
what is meaning by parallel accounts
Q. Explain about matching principle? The matching principle need that expenses incurred in producing revenues is deducted from the revenues they generated during the accounting
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