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Difference between Debit and Credit
Debit-used to record employer's FICA taxes, state unemployment taxes and federal unemployment taxes incurred during an accounting period.
Credit-closed to Income Summary at the end of accounting period (along with all other expenses).
how we prepare ledger account and trial balance?
The two fundamental sources of equity in a company are stockholders and creditors their combined interests are called total equities. To discover the equity ratio divide stockholde
State the term- Purchases Returns and Allowances Purchases Returns and Allowances is the name of the account which provides better control of allowances and returns of mercha
XYZ Solutions Pvt Ltd purchased a new vehicle for their employee Sonia to use for both work and private purposes on 1 November 2010. The car cost $38,500 and they paid an extra $2
I just want part A and Part B including ppt slides to present.
what are the basic theory of accounting
Assume we are a trading company giving devices and sometimes after sales service. when any fault came we just replace the hardware from another defective device and getting the pay
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 -
How do you set up a t account correctly?
Q. What do you mean by note? A note is an unqualified written promise to pay another party the amount owed either when demanded or at a certain specified date habitually with i
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