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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 significant manner and in provisos of money. It is known as language of business because the financial performance and the financial position of any company need to be conveyed to the stakeholders of any business concern. This can be done by systematically preparing the financial statements and presenting to the interested parties.
Q. Example on closing process? This problem engross using a work sheet for Green Hills Riding Stable Incorporated for the month ended 2010 July 31 and performing the closing pr
Question : The several evaluative criteria for evaluating revenue measure or system are: ? Yield ? Political expediency ? Ease of administration ? Consistency
The owner's equity of Logan's company is equal to one quarter of the total assets. Liabilities equal $60,000. What is the amount of owner's equity?
Balance Sheet A balance sheet is a statement for presenting an organization financial position at a particular date, mostly at the end of an accounting period; also calle
Accounting process in operation Micro Train Corporation is a small corporation that provides on-site personal computer software training using the clients' equipment. The compa
Suppose a firm owns oil well assets. It is deciding how much oil to extract from its oil wells this year and next year. Production of oil costs $10 per barrel this year; next year,
Determine the additional cash a company could obtain from its working capital accounts if it can improve its average collection period by three days and inventory turnover by 0.5 t
Jane and Walt form Orange Corporation. Jane transfers equipment worth $475,000 (basis of $100,000) and cash of $25,000 to Orange Corporation for 50% of its stock. Walt transfers
For my accounting class, how would I journalize the adjusting entry for Annual depreciation is $3,480 on the building with the building amounting to $76,000 on the trial balance fo
want a question of general jouranal , t account ,traial balance , income statement and balance sheet
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