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Q. Explain journal entry?
A journal is a sequential arranged in order of time record of business transactions. A journal entry is the stacking of a business transaction in the journal. A journal entry demonstrates all the effects of a business transaction as expressed in debit(s) and credit(s) and may comprise an explanation of the transaction. A transaction is entered in a journal prior to it is entered in ledger accounts. For the reason that each transaction is initially recorded in a journal rather than directly in the ledger a journal is called as a book of original entry.
Q. Analyzing how well the company is performing? The classified income statement illustrates important relationships that help in analyzing how well the company is performing.
What do you recognize by Open Item Managed Account? Ans) Open item management make sures that all items that have not yet been cleared are available in the system. Only after ea
Q. Define Non-operating revenues? Non-operating revenues or other revenues and non-operating expenses or other expenses are revenues and expenses not related to the sale of pro
Assorted fund, a U.K.-based globally diversified equity mutual fund, is considering adding Talisman Energy Inc. (Toronto Stock Exchange: TLM) to its portfolio. Talisman is an indep
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Goodwill is an intangible asset of a organization which contains company reputation, fame etc., By goodwill company share value may enhances
Q. Uses of technology in accounting? The computers of persons in a given building or department are frequently connected in a Local Area Network (LAN). These persons are able t
On December 31, 2003, Jamfest Travel Inc. had 450,000 shares of no-par common stock issued and outstanding. All shares were sold for $7.50. On June 30, 2004, the firm issued an add
Present value -- a notion that compares the value of money available in the future with thevalue of money in hand today. For instance $78.35 invested today in a 5% savings accountw
What are examples of deferred revenue expenditure? Ans) It is an expenditure the advantage of which will be realized over a period and not during the present period. Ex-Heavy Ad
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