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Explain about the RECORDING PURCHASES
Source document for recording a purchase of merchandise is purchase invoice.
o An instance of a transaction of purchasing merchandise on account:
Debit to PURCHASES
Credit to ACCOUNTS PAYABLE and the NAMED COMPANY
Purchased merchandise on account
o An example of a transaction of purchasing merchandise for cash:
Credit to CASH
Purchased merchandise for cash
The following difference among financial and taxable income were reported by Dider Corporation for the current year (a) Excess of tax depreciation over book depreciation-------
HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL100 words accepted#
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define accounting. Briefly explain its concepts
Split common stock 4 to 1 and reduced PAR from $80 to $20. After the split there were 600,000 shares.
assigment help
Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe
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Assume in Balance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?
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