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Q. Explain about Manufacturing companies?
Manufacturing companies purchase materials convert them into products and then sell the products to other companies or else to the final consumers. Manufacturing companies comprise auto manufacturers, steel mills and clothing manufacturers.
All of these companies produce monetary statements as the final end product of their accounting process. These monetary statements provide relevant financial information both to those inside the company management and to those outside the company stockholders, creditors and other interested parties. The next segment introduces four common financial statements- the balance sheet, the income statement, the statement of retained earnings and the statement of cash flows.
Importance of The bank statement Bank sends out bank statements each month. It's significant that this statement and checking account balance balances. There are certain items
After adjustments and the closing of revenue and expense accounts at February 28, 2015, the end of the first full year of operations, the income summary account has a credit balanc
Are mailing lists are considered as prepaid or period expens?
in 2011 hardin company had 220000 shares $10 par common stock, march 1 issued 45000 shares at $22, June 1 issued 15% stack dividend, July 1 issued 10000 at $27, Aug 31 2-for-1 st
Q. Show Timing of expense recognition? The timing of expense recognition The matching principle entail that a relationship exists between expenses and revenues. For definite ex
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Obtain the relevant authoritative literature on accounting for accounts receivable using the FASB''s Codification Research System at the FASB website. What is the specific citation
Define the term- FICA TAX This is a matching tax paid equally by employee and employer. Two parts-OASDI and HIP. Current rate for OASDI is 6.2% on the first $102,000 earned
Q. Explain about Merchandise inventory? Merchandise inventory is the quantity of goods assumed by a merchandising company for resale to customers. Merchandising companies verif
what is account
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