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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).
Bonds issued giving the holder the option of exchanging the bonds for capital stock of the corporation are called
What is Merchandise returns A Return is when a customer returns to the seller part or all items purchased. An Allowance occurs when seller grants a customer a price reductio
entry for bad debts provision
Inflation Accounting: It is related along with the adjustment in the value of assets that is current and fixed and of income in the light of changes in the price level. In a
What is the implication of applying accounting concepts wrongly
Goods purchased from ranu p5000
FINANCIAL STATEMENT ANALYSIS Following the preparation of the Financial Statements, they are examined by the business for the reason of analyzing the presentation of the compan
Q. Describe about Fixed Assets? Fixed Assets can't be quickly turned into cash without interfering with business operations.Fixed assets comprise buildings, land, machinery, fu
A great tool to import and certify transaction data from other financial systems and make invoices debit memos credit memos and on-account credits Setup steps: 1. Describe th
A machine valued on the books at $8500 was sold on credit to $8000.
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