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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.
Investments by owners are raise in equity of a particular business enterprise resulting from transfers to it from other entities of something valuable to gain or increase ownership
Determining needed adjustments Adjustments are required since certain changes take place during the accounting period. As time passes, although, the value of the asset is consu
on april-1,2005,raghu started a business of selling steel pipes and angles.he invested cash of Rs.50,00,000 & opened a current a/c with bank for Rs.20,00,000.He took loan from ICIC
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Q. Explain about Staff accountant? Let us travel with Tracy as she begins her career at the staff level. At the onset, she works directly under a senior accountant on each of h
Lower of Cost or Market Inventory Bob's Jewelry Company's inventory records indicates the fol
Bonds issued giving the holder the option of exchanging the bonds for capital stock of the corporation are called
Q. What is Cost of goods sold? The second major division of an income statement for a merchandising business is cost of goods sold. Cost of goods sold is denotes to cost to the
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