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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)
what are the basics of accounting
Identify and explain the two ratios that are used to assess the solvency of a business.
Q. Explain about realization principle? Realization of revenue Under the realization principle the accountant doesn't recognize (record) revenue until the seller obtains the ri
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?
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
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
Explain the term- CASH SHORT AND OVER This account is used to record both a shortage and overage of cash in cash drawer. When change is made during a business day, mistakes can
Q. Explain about business entity concept? A business entity perhaps made up of several different legal entities. For example a large business such as General Motors Corporation
It is a national organization of female accountants in America that plans to further the interests of women in the accounting career. The American Society of Women Accountants (ASW
Jackson Corporation uses a standard cost system, concerned manufacturing overhead on the basis of machine hours. The company's overhead standards per unit are given below. Varia
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