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Q. Explain about Freight collect?
Freight collect indicates the buyer should initially pay the freight bill on the arrival of the goods. To demonstrate the use of these terms suppose that a company ships goods FOB shipping point freight collect. Title goes by at the shipping point. The buyer is accountable for paying the USD 100 freight costs and does so. The seller compose no entry for freight charges the entry on the buyer's books is
At the starting of the year, Hernandez Company had total assets of $872,310 and total liabilities of $497,500. (a) If total assets enhanced $147,320 during the year and total li
Q. Describe about accounting. Why is it called language of business? Accounting is known as -an art of recording, classifying and summarizing transactions and events in a si
Q. Example on gross margin method? To demonstrate the gross margin method of computing inventory assumes that for several Years Field Company has maintained a 30 per cent gross
what is the implications of applying accounting concepts wrongly
A company absorbs overheads on machine hours that are budgeted at 11,250. The budgeted overhead is $281 250. Results illustrate actual hours of 10 980 and overhead of $276 652.
Q. Taking a physical inventory in periodic inventory procedure? Taking a physical inventory in periodic inventory Procedure Company personnel determine ending inventory cost by
Q. What do you mean by Not-for-profit organizations? Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and a
Assume we are a trading company giving devices and sometimes after sales service. when any fault came we just replace the hardware from another defective device and getting the pay
Hi, How to get help with tutor, in accounting exam prepartion? please suggest?
Determine about the Debit memorandum A debit memorandum is the buyer's written request to seller for credit. Individual account is debited to reduce the amount which they nee
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