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Q. Explain about Sales account?
In theory sellers could record both sales allowances and sales returns as debits to the Sales account for the reason that they cancel part of the recorded selling price. But because the amount of sales returns and sales allowances is useful information to management it should be shown separately. The amount of allowances and returns in relation to goods sold can indicate the quality of the goods high-return percentage, equals low quality or else of pressure applied by salespersons high-return percentage or equals high-pressure sales. Therefore sellers record sales returns and sales allowances in a separate Sales Returns and Allowances account.
#questiSean Corp. issued a $60,000, 10 year bond at the face rate of 8% annually on 1/1/X0. The market rate was 10%. How much cash will the bond investors receive at the end of the
1. what is accounting ? 2. what should we/i do to know accounting 3. what are the basics of accounting? 4 is accounting is hard ?
Hello, I work in the Events Department for a country club in Rhode Island. We are trying to figure out the following question for an invoice: A restaurant bill is $18.50 and inclu
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what is accounting
Explain the term- Depreciation This is a term which is used to describe the expense which results from loss of usefulness of an asset because of age, wear and tear, and obsoles
Q. Describe about accounting. Why is it called language of business? Accounting is known as -an art of recording, classifying and summarizing transactions and events in a si
The ratio of __________ to __________ is an example of a __________ ratio. A. quick assets; current liabilities; leverage B. cost of goods sold; total assets; asset utilization
even after preparing BRS why does balance as per cash book and balance as per pass book do not tally?
what is the contributed capital and how do you figure it out?
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