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Q. Explain about pegboard system?
One more innovation in manual systems was the one write or pegboard system. Beside creating one document and aligning other records under it on a pegboard companies could record transactions more efficiently. These systems allow the writing of a check and the simultaneous recording of the check in the cash disbursements journal. Even though a few of these systems are still in use today computers make them obsolete.
During the 1950s companies as well used bookkeeping machines to supplement manual systems. These machines recorded recurring transactions such like sales on account. They posted transactions to the general ledger and subsidiary ledger accounts and calculate new balances. With the development of computers bookkeeping apparatus became obsolete. They were quite expensive as well as computers easily outperformed them. In the mid-1950s large companies start using mainframe computers.
Q. What do you mean by work sheet? The work sheet is a columnar sheet of a computer spreadsheet or a paper on which accountants summarize information needed to make the adjusti
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
Q. What is journal? In explaining the rules of credit and debit we recorded transactions directly in the accounts. Every ledger (general ledger) account shows only the increase
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation
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What are the accounting Principles?
1. For each of the following accounting assumptions/principles, explain a business transaction: (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin
Q. Explain about Accounting transaction? An accounting transaction is a business event or activity that causes a measurable change in the accounting equation Assets = Liabiliti
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