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Explain Discounts allowed.
Q. Objectives of financial reporting? Financial reporting objectives are the broad overriding objectives sought by accountants engaging in financial reporting. According to the
identify the income statement account
At the end of this assignment, you will have: Identified the facts and accounting issues at AVE. Researched the appropriate accounting literature. Analyzed, interpreted,
WHO PREPARES A TRADING ACCOUNT AND WHY?
AL MASA a sole trader,decided to install a new machine to use
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
My assignment was due to me by 9:52 my time.
what is the BRS
what is accounting equation and introduction
how the minority interest will be calculated?
When a business offers a credit customer a discount for early settlement, the discount granted is a discount allowed. The consequence of a discount allowed results in the business receiving a reduced amount for a sale. Although the sales revenue is reduced, a discount allowed is never charged to the trading account. Discounts allowed are always charged as a separate expense to the profit and loss account.
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