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Q. Explain about Trial balance?
Trial balance -- at the close of an accounting period, transactions posted in the ledger areadded up. A trial or test balance sheet is prepared with assets on one side and liabilities andcapital on the other side. Two sides should balance. If they don't, accountants should search through the transactions to find out why. They keep making trial balances till thebalance sheet balances.
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
Cash Flow Statement Vs Funds Flow Statement: together the Cash Flow Statement and Funds Flow Statement give approximately comparable picture of the firm. They don't be different
XYZ Technology had $640,000 of retained earnings on December 31, 2010. The company paid common dividends of $50,000 in 2010 and had retained earnings of $500,000 on December 31, 20
Sam is trying to decide whether he should operate his business as a C cor- poration or as an S corporation. Due to potential environmental hazard problems, it is imperative that
Q. Goal of financial reporting? The second goal of financial reporting is to provide information to help present and potential investors and creditors and other users in assess
how to find profit income from bank?
Q. What do you mean by bookkeeping? Accounting is frequently confused with bookkeeping. Bookkeeping is a mechanical procedure that records the routine economic activities of a
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.
Accounting supposes that the business as an accounting entity will continue to operate for a long time in the future, unless there is superior evidence to the contrary. The enterpr
formation of partnership and changes in constitution of parternship
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