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Q. Explain about accounting applications?
Early on accounting applications were in accounts receivable, payroll, accounts payable, and inventory. Within some years programs existed for all phases of accounting including manufacturing operations as well as the total integration of other accounting programs with the general ledger. Until the 1980s small as well as medium-sized companies continued with a manual system rented time on another company's computer or hired a service bureau to perform at least some accounting functions.
Q. Verifiability of Financial information? Verifiability Financial information has verifiability when independent measurers are able to substantially duplicate it by using the
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $673,400, and Allowance for Doubtful Accounts has a balance of $11,90
Business is an activity performed with the only intention of earning profit. The activity may differ according to the scope and volume.
how is withdrawaL OF goods by owner for personal use treated in the books
what is an accounting cycle
Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000 Building $150,000 Notes Payable $9,000 Equip
Q. What are Bad debts? Bad debts -- amounts owed to a company which aren't going to be paid. An accountreceivable becomes a bad debt when it's recognized that it won't be paid.
the guinegog is a trader in portable cd-man. His budgeted output is 5000 units per quarter. The following data was available for the year 1998: Direct labour @ $6 Direct material @
what is meant by credit note
Upper D minus Mobile Wireless needed additional capital to? expand, so the business incorporated. The charter from the state of Georgia authorizes Upper D minus Mobile to issue
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