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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.
Data evaluation is observed as the most significant activity in accounting recently. Evaluation of data comprises controlling the activities of business along with the assist of bu
Enumerate the term- Cash discounts Offered to encourage prompt and early payment by buyer. Cash discounts are recorded in accounting records of both the buyer and the seller. S
A swap valuation method which involves summing and computing the present value of each and every future net settlement and would be required by the contract terms either future s
Rondo plc, a sports apparel manufacturer with a cost of capital of 13.75%, is looking to expand its activity and is considering two possible countries to open a sales subsidiary. R
what is accrued revenue
The balance sheet account as of July 31, 1995 for altona company are as follows: Capital: (fix lib) 35,630 Office Equipment (ass) 16730 Delivery Truck
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
Q. Illustrate perpetual inventory procedure? Data from Exhibit serves like the basis for some of the entries. You would debit the Merchandise Inventory account to record the en
Explain the term - Overtime Pay This means a minimum of one and one-half times the regular rate of pay for all hours worked over 40 during the week. (Time and a half) A numbe
What is TRIAL BALANCE This statement is a listing on a certain date which demonstrates all accounts and their balances. This generally happen at the end of the month however it
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