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The conventions and rules of accounting are commonly termed as the conceptual framework of accounting. Along with any discipline or body of knowledge, several underlying theoretica
TDS (tax deducted at sources) .The person whereas making payments of income,covered by the scheme are responsible to deducted TDS and deposite the similar in goverment treasury wi
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
Purchase of office supplies what is the account classification?
on January 1,20x1,A had 200,000 shares of $5 par value common stock outstanding. On January 15 declared a cash dividend of $0.5 a share
Teague Company purchased a latest machine on January 1, 2012, at a cost of $150,000. The machine is expected to have an 8-year life and a $15,000 salvage value. The machine is expe
A Customer Master Record is a permanent record that haves key information about a business partner or a material. This information must be entered into the system before any transa
Q. Show Credit and debit rules for expense? The credit and debit rules for expense and Dividends accounts and for revenue accounts follow logically if you remember that expense
#2, The comparative balance sheets and income statements of Worsley Ltd are shown below. Worsley Ltd. Statement of Financial Position as at December 31 Current Assets 20x3
Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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