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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
Q. What is Depreciation? Depreciation -- an expense which is supposed to reflect the loss in value of a fixed asset. Forinstance if a machine will entirely wear out after ten y
The injection molding department of a company uses an average of 30 gallons of special lubricant a day. The supply of the lubricant is replenished when the amount on hand is 170 ga
What is the implication of applying accounting concepts wrongly
budgeting?
Q. What do you mean by Salaries? The recording of the payment of employee salaries typically involves a debit to an expense account and a credit to Cash. But for a company pays
How to calculate the postretirement expense
a decrease in owner''s equity may result from a(n) a. purchase of office supplies for cash b. withdrawal of cash from the business by owner c. revenue that is derived from sales of
what are the legal distinction between business combination, merger and consolidation
Question Social accounting is a way of calculating and reporting on an organisation's ethical and social performance. It is principally concerned with offering a complementary
Q. A company would not acquire treasury stock a. in order to reissue shares to officers. b. as an asset investment. c. in order to increase trading of the company's stock. d. to ha
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