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Q. Explain about debits and credits?
Accountants utilize the term debit instead of saying place an entry on the left side of the T-account. They utilize the term credit for Place an entry on the right side of the T-account. Debit shortened (Dr.) simply means left side credit shortened (Cr.) means right side therefore for all accounts a debit entry is an entry on the left side while a credit entry is an entry on the right side. Subsequent to recognizing a business event as a business transaction we analyze it to determine its decrease or increase effects on the liabilities, assets, stockholders' equity items, dividends, revenues or expenses of the business. Then we decode these increase or decrease effects into debits and credits.
Q. Example of sales cycle of company? For several retailers a large percentage of their annual sales occur during the period from Thanksgiving to Christmas. They efforts to sto
A firm's __________ account is categorized as a current asset. A. equipment B. accounts payable C. bonds payable D. merchandise inventory
Determine the Income Statement columns of Worksheet Income Statement columns of the worksheet would comprise the amounts from Adjusted Trial Balance columns which are expenses
Comprehensive Problem in Trial Balance Cash $ 26,470 A/R 14,222 Office Supplies 4,298 Prepaid Insurance 23,137 Equipment 131,495 A/D - Equipment $19,096 Accounts P
Accounting process in operation Micro Train Corporation is a small corporation that provides on-site personal computer software training using the clients' equipment. The compa
In accounting, only those facts that can be expressed in terms of money are recorded. When money is accepted not merely as a medium of exchange but also as a measuring rod of value
How to do worksheet?
Q. Explain about Stockholders equity? Stockholders' equity demonstrates the owners' interest in the business. This interest is equivalent to the amount contributed plus the inc
Define FBT (Fringe Benefit Tax)? Ans) The tax payable on a non-salary benefit given to an employee or an associate of the employee. The employer is likely to pay any FBT and may
Problems: Please show all calculations. Claudette, Inc., provides warranties for many of its products. The January 1, 2014, balance of the Estimated Warranty Liability account
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