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Q. Explain Interest revenue?
Interest revenue Savings accounts exactly earn interest moment by moment. Hardly ever is payment of the interest made on the last day of the accounting period. Therefore the accounting records normally don't show the interest revenue earned but not yet received which affects the total assets owned by the investor unless the company makes an adjusting entry. The regulate entry at the end of the accounting period debits a receivable account an asset and credits a revenue account to record the interest earned and the asset owned.
Q. What is Net realizable value? Companies must not carry goods in inventory at more than their net realizable value. Net realizable value is the approximate selling price of a
Scenario Sara Jones opened a technical consulting business called Hi-Tech For the Future earlier in the year. So far, she has been successful in providing services and selling
After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. e
Income Statements and Balance Sheets Case study A brief outline of the firm and its industry is given, as well as a few tips for your attention. You are given three years
how to make adjusting entries
Finance: It is the part of economics that studies the management of money and other assets. In easier terms it can be explained as the commercial activity of providing funds and c
Q. Specific identification method of inventory? Specific identification- The specific identification method of inventory costing put together the actual cost to an identifiable
How do you set up a t account correctly?
hello, i am in Malaysia and try to reconcile a bank statement in USD. I am confuse on which currency should i follow to enter the bank transactions. If follow in USD, i could not
Investment banking is a is an instrument which is used by the financial organization to take a improved investment decision like issuing IPO stocks bond etc.
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