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Q. Example on closing process?
This problem engross using a work sheet for Green Hills Riding Stable Incorporated for the month ended 2010 July 31 and performing the closing process. The trial balance for Green Hills Riding Stable Incorporated from 2010 July 31 was as follows
Depreciation expenditure for the month is USD 200. Accrued salaries on July 31 are USD 300.
a. organize a 12-column work sheet for the month ended 2010 July 31.
b. Journalize the adjusting entries.
c. Journalize the closing entries.
Explain in detail about the MERCHANDISE INVENTORY Cost of merchandise purchased during an accounting period is debited to Purchases account. To determine VALUE of the goods on
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Explain about the Petty Cash Petty Cash It is a small amount of money which is kept in the office for making small expenditures. ($10, $25, $50, etc.) Business will conclude
Billable expenses are those expenses incurred by you on behalf of your client in performing duties / supply and service. These expenses are recoverable from your customer by way of
entry for bad debts provision
Q. FIFO under periodic inventory procedure? The FIFO (first-in, first out) method of inventory costing suppose that the costs of the first goods purchased are those charged to
Whats the use of accounting in our everyday life?
What is accounting process?
Governmental agencies at the state, federal, and local levels employ governmental accountants. Habitually the duties of these accountants relate to tax revenues and expenditures. F
Define accounting.Briefly explain the accounting concepts which guide the accountants at recording stage
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