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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.
Q. Explain about delivery expense? When shipping goods FOB destination freight prepaid the seller is accountable for and pays the freight bill. For the reason that the seller c
Explain any two concepts of accounting with examples
WHAT IS ACCOUNTING STANDARDS
AsCompare and contrast AICPA SSTS to Circular 230 related to knowledge of client''s omission.k question #Minimum 100 words accepted#
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Describe the term in detail Payroll PAYROLL is very vital for all employees. Employees are under the direct control of employer on a continuing basis. An independent contract
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Classified income statement It is more involved for a merchandising business to conclude net loss or net income. Income statement is categorized into sections: 1. Revenue
Rosco Company purchased 35,000 shares of common stock of Paxton Corporation as a long term investment for $900,000. During the year, Paxton Corporation reported net income of $300,
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