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Determine about the Sales returns and allowances
Allowance results when a buyer decides to keep defective or damaged goods though at a reduction from the original price.
Return results when a buyer returns part, or all of the order
Recording Sales Returns and Allowances
A Credit Memorandum is original document
The 2001 Recession: It is November 2001 and the U.S. Stock market has plummeted and the recent September 11th attacks have hurt consumer condence. Businesses have stop hiring and c
Q. Example of adjusting entries? Regulate entries bring the amounts in the general ledger accounts to their proper balances before the company prepares its financial statements
what are the implications of applying accounting concepts wrongly
Credit what comes in. Debit what goes out.
Calculate WACC and Rate of Return Capital Structure: 50% debt and 50% equity financing Current cost of debt is 2% above prime (Prime is currently 2.5%) cost of equity is e
Suppose you want to have $5,000 saved at the end of five years. The bank will pay 2% interest on your money. How much would you have to deposit today to have the $5,000 you want
COMMON ADJUSTMENTS AFFECTING THE PREPARATION OF BALANCE SHEET ARE: 1. Closing stock : Closing stock come into view on the credit side of trading account and assets side of
Q. Recording changes in revenues and expenses? Examine that Notes Payable, liabilities and increase with an entry on the right (credit) side of the account. Recording changes i
differenciate between a cash book and a ledger
They are likely to tests for tact, diplomacy, and with descriptive skills.
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