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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.
Houston Corporation has the following stock outstanding: In 2012, Houston paid $330,000 in dividends. No dividends were paid in 2011 or 2010. Required : a)
#question.prepare the required adjusting entry for September 30, 2009
John is considering the best capital structure for his firm. Suppose there are two capital structures for him to choose from. Structure A would have 7,000 shares of stock and $160,
beginning inventory,purchase,and sales data for commodity A are as follows november 1 inventory 1500units @k20.00 2 sold 5000unit @ 40.00 12 purchase 10000 units @22
Q. What is Marketable securities? Marketable securities are temporary investments such like short-term ownership of stocks and bonds of other companies. Such investments don't
Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac
How do you do journal entries for an item bought on credit and then later returned and the total selling price was 4,275.
The open items of an account can only be cleared once you post an identical offsetting amount to the account. In other words, the balance of the items assigned to every other must
Q. Advantages and Disadvantages of FIFO? FIFO: Advantages (a) FIFO is easy to apply (b) the assumed flow of costs habitually corresponds with the normal physical flow of goods
I chose table 2-4 Loan Amortization Schedule, $100,000 at 6% for 5 years to discuss. Table 2-4 relates to the other two tables in that it is the opposite of the other two tables. T
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