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Q. Explain about Purchase discounts?
Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they pay invoices within a specified time. Suppose that credit terms for Hanlon's May 4 purchase are 2/10, n/30. If Hanlon pays for the merchandise by May 14 the store may perhaps take a 2 percent discount. Therefore Hanlon must pay only USD 29400 to settle the USD 30000 account payable. The entry to files the payment of the invoice on May 14 is
This is due to every organization wants profit to operate, and as results the fmcg gods turn to have a moving market than that of the hardware goods, because the products does not
J Green''s financial position at 1 May 2008 was as follows bank 2,910 cash 160 equipment 5,900 premises 25,000 creditors R smith 890 t thomas 610 debtors j car
BRS - Bank Reconciliation Statement A bank reconciliation statement is a declaration organized by organizations to reconcile the balance of cash at bank in a company's own rec
Financial accounting reports are mandatory to be prepared by the firms, and are scrutinized by auditors, creditors or Government or Tax authorities. But management accounting recor
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
Q. Explain about accounting cycle? when an event is a measurable business transaction you require adequate proof of this transaction. After that you analyze the transaction's e
User accounts are the primary means of access for actual people to the system (computer), and these accounts insulate the user and the environment, preventing the users from damagi
Q. Example of current ratio? The current assets and current liabilities and current ratios of some other companies as of the third quarter of 2001 were As you are able to se
Honolulu Cookie Company provides the following information in order for you to prepare the company's bank reconciliation: Balance per company
They are likely to tests for tact, diplomacy, and with descriptive skills.
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