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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.
In Exhibit the accurately stated ending inventory for the year 2009 is USD 35000. As a result Allen has a gross margin of USD 135000 as well as net income of USD 50000. The stateme
explain accounting standard 14
Hello, I'm having trouble understanding Direct Cost, Overhead Cost and Indirect Cost. ***Also Period cost and Product cost. please can anyone explain it and give examples for eac
Q. What is Income Summary account? The Income Summary account is a clearing account used merely at the end of an accounting period to summarize revenues and expenses for the pe
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Q. Determine the cost of ending inventory? The company suppose that the 20 units in inventory consist of 10 units purchased December 21 and 10 units purchased October 12. The o
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Cowhand's Bar-B-Q House went into business on January 1, 2009. The following information is available at December 31, 2009: Sales revenue for the year $30
Q. What is Current liabilities? Current liabilities are debts due inside one year or one operating cycle whichever is longer. The payment of current liabilities usually require
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