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Q. Describe about adjunct account?
The Transportation-In account files the inward freight costs of acquiring merchandise. Transportation-In is an adjunct account in that it is added to net purchases to appear at net cost of purchases. An adjunct account is closely interrelated to another account (Purchases in this example) as well as its balance is added to the balance of the related account in the financial statements. Recall that a contra account is immediately the opposite of an adjunct account. Buyers deduct a contra account such like accumulated depreciation from the related fixed asset account in the financial statements.
Carrying amounts of merchandise materials as well as supplies inventories are generally determined on a moving average cost basis and are stated at the lower of cost or market.
Q. Explain about statement of cash flows? Retained earnings usually consist of the accumulated net income of the corporation minus dividends distributed to stockholders. We exa
hi I was wondering you use provide the solution of the back of the book for advance accounting theory by Craig Deegan 4 edition ISBN - 13: 978-007101314 - 7 ISBN - 10: 007101314
Q. What is Asset cost and Estimated residual value? Asset cost: The asset cost is the sum that a company paid to purchase the depreciable asset. Estimated residual value:
What are the components or materials used by Accounts receivable departments? Ans) Accounts Receivable department is very vital department of the company. The responsibilities o
norman co borrows $15,000 with a 8%interest 38,000 account receivable paid $26,000 salary
Q. What is Consistency? Consistency in general requires that a company use the same accounting principles and reporting practices through time. This concept disallows indiscrim
Identify and explain the two ratios that are used to assess the solvency of a business.
Graham maintains that formulation and implementation are phases in the strategic management process. Yolanda maintains that evaluation and estimation are also part of this proc
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