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Q. Example of supplies on hand?
On 2010 December 4 Micro Train Company buy supplies for USD 1400 and recorded the transaction as follows
Micro Train's two accounts recitations to supplies are Supplies on Hand (an asset) and Supplies Expense. Subsequent to this entry is posted, the Supplies on Hand account shows a debit balance of USD 1400 and the Supplies Expense account has a zero balance as shown in the following T-accounts
The injection molding department of a company uses an average of 30 gallons of special lubricant a day. The supply of the lubricant is replenished when the amount on hand is 170 ga
Q. Dependability of information? Additionally to being relevant information must be reliable to be useful. Information has reliability when it faithfully describes for users wh
briefly explain the accounting concepts which guide the accountant at the recording stage
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Q. Define Auditing? Auditing A business in quest of a loan or attempting to have its securities traded on a stock exchange typically must provide financial statements to suppor
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
test 1
Describe in brief about the Wholesalers They buy goods in bulk from manufacturers and sell them to retailers, other schools, wholesalers and other non-profit institutions, and
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t
how we prepare ledger account and trial balance?
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