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GILCO rents DVDs and DVD players (players) on a short term basis to airline passengers through GILCO locations at every large commercial airport throughout the world. A passenger
ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. Elaborate and explain why journal is necessary?
Q. Sales discounts and Sales returns? Sales discounts arise when the seller tenders the buyer a cash discount of 1 percent to 3 percent to induce early payment of an amount due
Q. Explain about cash discount? In a few industries credit terms include a cash discount of 1 percent to 3 percent to induce untimely payment of an amount due. A cash discount
Q. Describe about accounting. Why is it called language of business? Accounting is known as -an art of recording, classifying and summarizing transactions and events in a si
What is Internal control - Control of cash Internal control refers to procedures and methods a business uses to protect its assets. Checks are written for all transactio
Q. What is Passage of title in transpotation? Passage of title is a term that point to the transfer of the legal ownership of goods. Title to the goods usually passes from sell
Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en
What is articulation
1. Mama's Fried Chicken bought equipment on January 2, 2010, for $15,000. The equipment was expected to remain in service 4 years and to perform 3,000 fry jobs. At the end of the
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