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Q. Explain about financial statement?
The income statement is the statement of retained earnings the balance sheet and the statement of cash flows of Metro Courier Inc demonstrate the results of management's past decisions. They are the finish products of the accounting process which we explain in the next section. These financial statements offer a picture of the solvency and profitability of the company. The accounting process facts how this picture was made. Management as well as other interested parties utilize these statements to make future decisions. Management is the first to identify the financial results then it publishes the financial statements to notify other users. The nearly everyone recent financial statements for most companies are able to be found on their websites under Investor Relations or some similar heading.
GILCO rents DVDs and DVD players (players) on a short term basis to airline passengers through GILCO locations at every large commercial airport throughout the world. A passenger
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Q. What do you understand by Deferred income? Deferred income -- a liability which arises when a company is paid in advance for services orgoods that will be provided later. Fo
Ask 1. What is the organization that is responsible for setting International Financial Reporting Standards? 2. What is the main company that Professor Levine uses for illustratio
Q. Example of Adjustments for accrued items? For instance assume Micro Train Company has some money in a savings account. On 2010 December 31 the cash on deposit has earned one
Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi
Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on Decemb
Problem It is usually recognized that power is an essential component of accountability and that greater accountability is recognized towards those stakeholders who have more p
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1-Aug-13 Started business by investing $20,000 from personal savings into a business' bank account and a car and furniture worth $90,000 and $30,000 respectively. 2-Aug-13 Purc
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