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Q. What is Accounts receivable? Accounts receivable as well called trade accounts receivable are amounts owed to a business by customers. An account receivable occurs when a co
Q. Explain about Cost of goods sold? Cost of goods sold is the main expense in merchandising companies. Note the cost of goods sold segment of the classified income statement i
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
what are the legal distinction between business combination, merger and consolidation
Q. Explain about Conservatism? Conservatism The Conservatism means being prudent or cautious and making sure that assets and net income are not overstated. Such overstatements
Q. What do you mean by bookkeeping? Accounting is frequently confused with bookkeeping. Bookkeeping is a mechanical procedure that records the routine economic activities of a
Are mailing lists are considered as prepaid or period expens?
Exercise 5-2 - Harwick company. 1) On April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2)On April 6, paid freight costs of $
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
10% preference share 336 ooo ordinary share capital 480 000 prepare a statement of profit or loss
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