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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.
Q. What is Accrued expenses? Accrued expenses, accruals -- an expense that has been incurred though not yet paid for.Salaries are a good instance. Employees earn or accrue salar
State the steps of Merchandise inventory 1) TRANSFER THE BEGINNING INVENTORY FIGURE Debit INCOME SUMMARY for beginning inventory amount. Credit MERCHANDISE INVENTORY fo
Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe
I need help understanding my Accounting 205 class. Would some one please help me understand what I am having such a hard time comprehending.
a physical inventory on december 31 shows 2,000 units on hand. holliday sells the units for $12 each. the company has an effective tax rate of 20%. holliday uses the periodic inv
These questions are based on the following information and should be viewed as independent situations. Popper Co. acquired 80% of the common stock of Cocker Co. on January 1, 200
What is the change fund Business that have many cash transactions generally establish this fund, which is an amount of money which is placed in the cash register drawer and is
Q. Neutrality of accounting information? The Neutrality signifies that the accounting information must be free of measurement method bias. The primary concern must be relevance
Prepare the Journal Entries Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the tr
Q. Show Employment opportunities in accounting? Throughout the last half-century accounting has gained the same professional status as the medical and legal professions. At pre
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