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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.
A method of expressing the relationship between one accounting result and the other, which is intended to give a useful comparison. Accounting ratios helps in measuring the efficie
Two techniques of accounting for inventory are perpetual inventory procedure and periodic inventory procedure. Under perpetual inventory procedure the inventory account is constant
Oligopoly is a market where the supply is controlled by a little group of companies. In this condition, the actions of single company will have a material effect on the entire mark
What are the golden rule of accounting how to pass journal entry when strating bussines what
Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
A lobster catcher spends $12 500 per month to maintain a lobster boat. He plans to catch an average of 20 days per month during lobster season. For each day, he must allow approx
Q. Basic elements of financial statements? Therefore far we have discussed objectives of financial reporting and qualitative characteristics of accounting information. A third
Q. Sales discounts and Sales returns? Sales discounts arise when the seller tenders the buyer a cash discount of 1 percent to 3 percent to induce early payment of an amount due
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. Describe the accounting procedures? The demand for college professors differ greatly by discipline. In fields such like Fine Arts, English, Philosophy and Psychology there i
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