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Q. Describe about ledger?
A ledger (general ledger) is the absolute collection of all the accounts of a company. The ledgers are feasibly in a bound volume in, loose-leaf form or in computer memory. Accounts plunge into two general groups (a) balance sheet accounts (assets, liabilities, and stockholders' equity) and (b) income statement accounts (revenues and expenses). The terms permanent accounts and real accounts as well refer to balance sheet accounts. Balance sheet accounts are real accounts for the reason that they aren't sub classifications or subdivisions of any other account.
They are permanent accounts for the reason that their balances are not transferred (or closed) to any other account at the end of the accounting period. Dividends accounts and the account Income statement are nominal accounts for the reason that they are merely sub classifications of the stockholders' equity accounts. Nominal literally indicates that ‘in name only'. Nominal accounts are as well called temporary accounts because they temporarily contain revenue expense and dividend information that is transferred (or closed) to the Retained Earnings account at the end of the accounting period.
There is almost not, any organization that does not have an accountant. His task is all pervasive and he is included in a broad range of activities, particularly in a huge and comp
What is the implication of applying accounting concepts wrongly
Limitations of Ratio Analysis : In spite of the a variety of uses of ratio analysis, it go through from certain limitations, some of which are as under; 1. Limited use
How do I do case problem level 1 for chapter 3 of succeeding in business with Microsoft excel 2013?
I purchased equipment for 3,000 but only paid 1,000 of it and put rest of it on an account. how would I put that into a asset=liabilities+ owns equity equation?
what are the limitations to errors?
what is the implication of applying accounting concept wrongly
Q. Specific identification method of inventory? Specific identification- The specific identification method of inventory costing put together the actual cost to an identifiable
Case Study : Briana Hope has had a long-standing love affair with technology and an appetite for apps. She believes that business owners that are not taking advantage of apps to
State the classified balance sheet ASSETS Current Assets are cash and any other assets which are expected to be realized in cash, sold, used up or expire within one year.
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