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Q. Define about Assets and Liabilities?
Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.
Liabilities are feasible future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past events or transactions.
Hawkeye Electric Company engaged in the following transactions during July. Journalize the preceding transactions on the books of Hawkeye Electric Company using the perpetual sys
Ower invested cash in the company along with equipment at market value, the amount is considered part of capital or revenues?
State about the Trade discounts Percentage reduction from list price of the merchandise. These aren't recorded in the accounting records of the seller or buyer. Buyer always
Can you give me a more simple definition of Mutual Confidence and give me an example of a situation of it
Difference between Income Statement and Balance Sheet Difference between the amounts of the columns in Income Statement and Balance Sheet should be the same amount. Words "Net
Q. Example of adjusting entries? Regulate entries bring the amounts in the general ledger accounts to their proper balances before the company prepares its financial statements
Why is the cash basis of accounting not used when preparing financial statements?
A of Surat consigned goods to B of Jaipur to be sold at or above invoice price. B is entitled to get a commission of 8% on sales at invoice price plus 25% of any surplus price real
Lower of Cost or Market Inventory Bob's Jewelry Company's inventory records indicates the fol
Q. What are Accounting software packages? Accounting software packages are normally menu driven and organized into modules such as accounts payable, general ledger, accounts re
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