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Determine about the revenue section
Revenue section provides a figure for net sales, which is balance of the Sales account, less the balances of contra sales accounts. (Sales - Sales Returns and Allowances and Sales Discounts = Net Sales)
A company pays rates annually/yearly in advance on 1 April every year. $4000 is paid by them on 1 April 2009 and $4800 on 1 April year 2010. The company's accounting year end is 31
Q. Explain about Amortize? Amortize -- to charge a regular part of an expenditure over a fixed period of time. Forinstance if something cost $100 and is to be amortized over te
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
BRS - Bank Reconciliation Statement A bank reconciliation statement is a declaration organized by organizations to reconcile the balance of cash at bank in a company's own rec
When buying an owner operated business from a franchised organization is the previous store manager''s salary discretionary?? can they count that as net income to the new owner op
Q. Explain about stable dollar assumption? In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the st
The major difference in the statement of retained earnings between a service business and a Merchandising business is A. that the retained earnings statement of a merchandisi
Breakeven Analysis - I really need help calculating this. Our company's breakeven point occurs after the agency consecutively yields two months of positive net income. This a
Unlike a rigid commitment providing where a price is set and a fixed monetary amount is predictable, the underwriter makes its best efforts to sell as many shares as likely at the
Q. Example of work sheet for a merchandising company? Lyons Company is a tiny sporting goods firm. The illustration for Lyons Company focuses on merchandise-related accounts. T
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