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Consignor is the person who is the holder of the goods and who distribute the goods to the consignee.
Consignee is the person who takes the goods and he just possesses the goods and not the holder.
Q. What do you mean by Inventory turnover? Inventory turnover -- a ratio which indicates amount of inventory a company uses tosupport a given level of sales. Formula is: Invent
Q. Example of Adjustments for accrued items? For instance assume Micro Train Company has some money in a savings account. On 2010 December 31 the cash on deposit has earned one
S olvency Ratios (Long Term): These Ratios measure the long term financial provision of the firm. Creditors and Bankers are mainly interested in liquidity. But shareholders, and
What do you recognize by Open Item Managed Account? Ans) Open item management make sures that all items that have not yet been cleared are available in the system. Only after ea
THE BALANCE SHEET CONCEPTS According to Howard, a Balance Sheet might be definite as - 'a statement which reports the principles owned by the enterprise and the assert of the c
the long distance company that you use charges $5.00 per month and $0.10 per minute per call. If your current bill is $25.00, how many minutes did you use?
What is Payroll record keeping Employer should maintain payroll records which will supply the name, social security number, address, gross earnings for every payroll, period o
Q. What is Variable cost? Variable cost -- a cost which changes as production or sales change. If a business is producingnothing and selling nothing, variable cost must be zero
trial balance as at may 31 19*6 dr cr sales 400000 purchases 350000 sales return 5000 purchases return
Consistency Concept In practice, there are some manners to record an event or a transaction in the books of account. For illustration, the trade discount on raw material purch
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