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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.
i dont undrstnd t concepts of assets and liabilties n also journal entries thnks
Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000 Building $150,000 Notes Payable $9,000 Equip
what are the limitation
Investigate the principles, standards and conventions of accounting by: assessing the need for financial information, its purpose and limitations analysing the role
stpes to be taken prepaing for final accounts
Q. Example of adjusting entries? Regulate entries bring the amounts in the general ledger accounts to their proper balances before the company prepares its financial statements
Why is it more difficult to account for the inventory of a manufacturing firm than for that of a merchandising firm?
Webster, Inc. began operations at the start of the present year, having a production target of 60,000 units. Real production totalled 60,000 units, and the company sold 95% of its
Q. What is the use of balance sheet? Balance sheet -- a statement of the financial position of a company at a single specific time(often at the close of business on last day
Q. Define the accounting process ? The accounting process offers financial data for a broad range of individuals whose objectives in studying the data vary widely. Bank officia
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