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Q. Explain about Accrued assets?
Accrued assets are assets such like interest receivable or accounts receivable that haven't been recorded by the end of an accounting period. These assets represent privileges to receive future payments that aren't due at the balance sheet date. To show an accurate picture of the affairs of the business on the balance sheet firms recognize these privileges at the end of an accounting period by preparing an adjusting entry to correct the account balance. To point out the dual nature of these adjustments they record related revenue in addition to the asset. We as well call these adjustments accrued revenues because the revenues must be recorded.
A supplier to the electric utility industry produces power generators. The Transportation costs are high. One market area includes the lower part of the Great Lakes region
Q. Explain about income statement? The income statement, sometimes called as an earnings statement that reports the profitability of a business organization for a stated period
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. Explain Weighted-average inventory? Weighted-average: Ensuing inventory is priced using a weighted-average unit cost. In perpetual inventory procedure a new weighted-average
Q. Explain about accounting applications? Early on accounting applications were in accounts receivable, payroll, accounts payable, and inventory. Within some years programs exi
10,000 dollar loan at a Maturity of 3 months, an 8% interest rate
Explain the business assets Withdrawal Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of
a 50 petty cash fund has cash of 20 and valid receipts for 40. The entry to replenish the fund would include a
Antidilution of Ownership The right of an investor is to continue the same percentage ownership of an organizations main stock in the event that the organization issues more s
Has accounting become too interesting? In recent years, accounting has become front-page news and has been a key talking point among those connected with world of business. Reg
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