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Q. Example of Electronic spreadsheets?
Electronic spreadsheets have many applications in accounting. An electronic spreadsheet is basically a large blank page that contains rows and columns on the computer screen. The blocks formed by the intersection of the rows and columns are cells each cell can hold one or more words, the product or a number of a mathematical formula. Spreadsheets are perfect for creating large trial balances, work sheets and other schedules and for performing large volumes of calculations such like depreciation calculations. The mainly popular spreadsheet program is Microsoft Excel. Free spreadsheet programs are as well available from companies such as Google and Zoho.
ABC Company uses cash basis accounting for its records. During 2010, ABC collected $400,000 from its customers, made payments of $300,000 to its suppliers for inventory, and paid
office supplies on hand at year-end amounted to 3000.
The total revenue of the month of June amounted to $6,500; total expenses amounted to $3,500; and withdrawals amounted to $600. The net income for the month amounted to $6,000. $
State the term- Debits must always equal credits To help understand Temporary Owner's Equity accounts. All transactions which affect owner's equity could be recorded in one
Q. Measurement in financial statements? In December 1984 the FASB issued Statement of Financial Accounting Concepts No. 5 The Recognition and Measurement in Financial Statement
Q. In between FIFO and lifo which one is the correct method? The differences for the four methods take place because the company paid different prices for goods purchased. No d
Adjusting entries in the general journal Be sure to put down the words "Adjusting Entries" at the beginning of journal after the last entry of month. By placing these words at
i need systems understanding aid 7th edition answers!
decrease in assat & decrease in capital
Q. Illustrate accumulated depreciation account? Micro Train place depreciation expense in its income statement and it reports accumulated depreciation in the balance sheet as a
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