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Q. Explain Statement of retained earnings?
The statement of retained earnings demonstrates the change in retained earnings between the beginning and end of a period e.g. a month or a year. The balance sheet replicates a company's solvency and financial position. The statement of cash flows illustrates the cash inflows and outflows for a company over a period of time. The elements and headings of each statement are similar from company to company.
office supplies on hand at year-end amounted to 3000.
If a customer payment data was lost and needed to be reconstructed what are some of the ethical considerations the business owner would need to consider? This may include internal
Classified income statement It is more involved for a merchandising business to conclude net loss or net income. Income statement is categorized into sections: 1. Revenue
Q. What is Consistency? Consistency in general requires that a company use the same accounting principles and reporting practices through time. This concept disallows indiscrim
Q. Underlying assumptions or concepts of accounting? The major underlying assumptions or concepts of accounting are (a) business entity (b) going concern (continuity) (c) money
Explain Carriage inwards.
Workers compensation insurance Workers compensation insurance provides protection for employees who suffer a job-related illness or injury. Entire cost is generally paid by t
Q. Describe about Capital? Capital -- money invested in a business by its owners. On the right side or bottom of a balance sheet. Capital also denotes to machinery, buildings a
Q. Explain about debits and credits? Accountants utilize the term debit instead of saying place an entry on the left side of the T-account. They utilize the term credit for Pla
help with journalizing payroll transactions and filling on the cash payments journal, may 15, paid cash for april's payroll tax liability. withheld taxes from april payrolls; emp
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