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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.
The two fundamental sources of equity in a company are stockholders and creditors their combined interests are called total equities. To discover the equity ratio divide stockholde
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
Why to and by using in journal, trading a/c, p&l a/c and ledger?
I want to learning Accouny basic
on 1 april,2007,X Ltd. makes an issu of 10,00,000 equity shares of rs.10 each payable as follows: on application-rs.3;allotment-rs.5;on first call rs.2(3 month after allotment). ap
COMMON ADJUSTMENTS AFFECTING THE PREPARATION OF BALANCE SHEET ARE: 1. Closing stock : Closing stock come into view on the credit side of trading account and assets side of
Q. What is matching principle? Expense recognition is closely related to as well as sometimes discussed as part of the revenue recognition principle. The matching principle sta
what accounts go into a balance sheet
Q. Prepare a source document? A source document typically supports the evidence of the transaction. A source document is any printed or written evidence of a business transacti
Q. Analyzing how well the company is performing? The classified income statement illustrates important relationships that help in analyzing how well the company is performing.
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