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Adjusting Entries Clapton Guitar Company entered into the following transactions during 2013. [The transactions were properly recorded in permanent (balance sheet) accounts unless
Mr. Inherits 30000. Decides to open a salon jj salon. On 1/4/2016 commits 10000 to the business Opens an a/c in the bank What will be the money under capital in his books on 1/4/10
1. When preparing the operating activities section of the statement of cash flows using the indirect method, a decrease in accounts recievable is subtracted from net income. True o
Q. Determine Annual effective cost? (i) Payables policy One month cost of taking extended trade credit = 1.5/98.5 = 1.52% Annual effective cost = 1.015212-1 = 19.8%
On 1 January 2008, a young artist called Michelangelo signed a contract with a charity named Art Angels, which supports young artists to do large projects. The agreement requires M
Q. Non-financial factors for non-financial considerations? There are several non-financial factors which possibly relevant to a decision to contract out and the type of factors
Q. What is Asset? Asset - An economic resource which is expected to be of benefit in the future. Probable futureeconomic benefits attained as a result of past transactions or e
My company agreed to clean a store for $1,375 per month. A check for $700 was received from the store as a deposit. What do I need to debit and credit in a general ledger?
Prepare the journal entries required to record the following transactions of a nongovernment, not-for-profit organization. 1. Unrestricted cash contributions received durin
Q. What are the financial statements? Significant Accounts - An account is significant if there is more than a remote likelihood that account could include misstatements which
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