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Q. Explain about Accounting transaction?
An accounting transaction is a business event or activity that causes a measurable change in the accounting equation Assets = Liabilities + Stockholders' equity. A trade of cash for merchandise is a transaction. The exchange occurs at an agreed price that provides an objective measure of economic activity. For instance the objective measure of the exchange may be USD 5000. These two factors measurement and evidence make possible the recording of a transaction. Only placing an order for goods isn't a recordable transaction because no exchange has taken place.
Q. What do you mean by consigned goods? FOB destination, freight collect - Seller acquires freight charges and buyer initially pays freight charges. Buyer deducts freight accus
Employees : The view of business organizations exist to maximize the go back to shareholders has been undergoing modify as an outcome of social changes. A broader view is consider
Q. Fundamental manual accounting system? Those planning on a public accounting career must do more than just learn accounting. To develop the essential skills a broad education
what is accrued revenue
Q. Calculate the gross margin percentage? Calculate the gross margin percentage by using the following formula Grossmargin percentage = Grossmargin/Net sales To show th
Identify and explain the two ratios that are used to assess the solvency of a business.
Using the data from the Dell Computer annual report determine how Dell calculated the four days' supply of raw materials. Do you think four days'supply is a valid
Stewart Company sold 180 units @ $320 each on October 31, 2012. Cash selling and administrative expenses were $15,000. The following information is also available: The
Q. Financial accounting versus managerial accounting An accounting information system offers data to help decision makers both outside and inside the business. Decision makers
During the current year, Mast Corporation expects to produce 10,300 units and has budgeted the following: net income $350,376; variable costs $1,080,800; and fixed costs $105,000
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