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Q. Explain about accounting cycle?
when an event is a measurable business transaction you require adequate proof of this transaction. After that you analyze the transaction's effects on the accounting equation Assets = Liabilities + Stockholders' equity. As a reconsider study the diagram of the eight steps in the accounting cycle. Keep in mind that the first three steps occur during the accounting period and the last five take place at the end. The next section describes how to use the work sheet to facilitate the completion of the accounting cycle.
types of legancies
FINANCIAL STATEMENT ANALYSIS Following the preparation of the Financial Statements, they are examined by the business for the reason of analyzing the presentation of the compan
Q. What do you eman by Expenditure? Expenditure -- an expenditure takes place when something is attained for a business -- an asset isbought, salaries are paid and so on. An ex
Q. What is FOB destination? FOB destination signifies free on board at destination. The seller ships the goods to their destination with no charge to the buyer. Therefore the s
When does something that is a debit becomes a credit?
Find the balance at the end of 6 years of $5000 investment in an account with a nominal annual rate of interest of 2.5% compounded quarterly over the first two years and then gro
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer
Q. Example of Adjustments for deferred items? A real physical inventory a count of the supplies on hand at the end of the month showed only USD 900 of supplies on hand. Therefo
Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su
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