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Q. Describe about post-closing trial balance?
A post-closing trial balance is trial balances taken subsequent to the closing entries have been posted. The only accounts that must be open are liabilities, assets and capital stock and Retained Earnings accounts. List every account balances in the debit and credit columns and total them to make sure debits and credits are equal.
The amounts in the post-closing trial balance are as of the ledger after the closing entries have been posted. The subsequently section briefly describes the evolution of accounting systems from the one-journal to one-ledger manual system you have been studying to computerized systems. After that we discuss the role of an accounting system.
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t
Q. What do you mean by Cross-indexing? Usually, accountants should check and trace the origin of their transactions so they provide cross indexing. Cross-indexing is the insert
Purpose To assess your ability to: •apply REA ontology concepts to an organization •prepare diagrams for the identification of the flow of data through an organization
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The CPSdata to re-estimate the difference among average male and female pay. Use for example, the regression LS LNWAGE C FE a. Can you avoid the hypothesis that mean female
Q. Explain double-entry procedure? The double-entry procedure maintains the accounting equation in balance. The dual recording process generates two sets of accounts those with
what is the accounting?
Q. What is Net realizable value? Companies must not carry goods in inventory at more than their net realizable value. Net realizable value is the approximate selling price of a
Assignment On accounting is language of business
A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $7
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