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Q. Describe about Borrowed money?
The company lent USD 6000 from Chaney's father. Chaney signs the note for the company. The note turn off no interest and the company promised to repay recorded as a note payable the amount borrowed within one year. Subsequent to including the effects of this transaction the basic accounting equation is
Q. Explain about business entity concept? A business entity perhaps made up of several different legal entities. For example a large business such as General Motors Corporation
what is going concern concept
Beth Clark is an Accounting Manager at Specialty Products Corp. One afternoon in early January 2012, her boss, Controller Dan Greene, met with her and stated the following, "Beth,
Q. What is Date column in journal? The first column on every journal page is for the date. Intended for the first journal entry on a page this column contains the year and mont
Q. Show accounting deception situations? In 2002 The Sarbanes-Oxley Act was approved. The Act was approved as one result of the large losses to the employees and investors from
Explain the process involved in accounting
The 31st December 2009 trial balance of Anika Co. reported the following information. Dr. Cr. Allowance for Bad Debts........................... $2,300 During the year 2010 t
Q. Corporate accounting and accounting for sole proprietorship? Several textbook authors use a sole proprietorship and a partnership form of business ownership to exemplify acc
Q. Explain about Money measurement concept? Money measurement concept. Economic activity is primarily recorded and reported in a common financial unit of measure the dollar in
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
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