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Q. Describe about Fixed Assets?
Fixed Assets can't be quickly turned into cash without interfering with business operations.Fixed assets comprise buildings, land, machinery, furniture, equipment and long-terminvestments.
Q. What is journal? In explaining the rules of credit and debit we recorded transactions directly in the accounts. Every ledger (general ledger) account shows only the increase
San Jose Company issued 5-year $200,000 face value bonds at 105 on January 1, 2012. The stated interest rate on these bonds is 9%. Use the straight line situation to complete the a
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
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. What is Comprehensive income and Revenues? Comprehensive income is the alter in equity of a business enterprise during a period from transactions and other events and circ
Q. Explain Merchandise in transit? Merchandise in transit is merchandise in the hands of a shipment company on the date of a physical inventory. As stated above buyers should
The operating expenses section Operating Expenses - directly associated to the sale of merchandise General expenses (administrative expenses) related to business's offic
Q. What do you eman by Purchases account? In periodic inventory procedure a merchandising company uses the Purchases account to record the cost of merchandise bought for resale
Cost sheet is sheet Where all the cost should be recorded which related to the produc.
Please help journalize: -On January 1, 2017 Harmony issued 1,500 shares of $22 par, 8% preferred stock for $43,700. -On January 1, 2017 Harmony also issued 2,000 shares of common s
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