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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.
Ower invested cash in the company along with equipment at market value, the amount is considered part of capital or revenues?
Q. What is Purchase Discounts account? The buyer records the purchase discount merely when the invoice is paid within the discount period and the discount is taken. The Purchas
Q. Example of Unearned service fees? Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm
WHAT ARE THE VARIOUS TYPES OF PRIME BOOKS
Personal accounts --> Debit the benefit receiver, credit the benefit giver Real accounts --> Debit what comes in, credit what goes out Nominal Accounts --> Debit all expenses
Assignment Comments – Debt-to-assets ratio: 50% Current Ratio: 1.8x Total assets turnover: 1.5x Days sales outstanding: 36.5 days* Gross profit margin
Q. Prepaid expenses and deferred charges? Prepaid expenses, deferred charges -- assets already paid for, which are being used up or willexpire. Insurance paid for in advance is
wat is assets and its types?
Control of independent demand inventory items
Rosco Company purchased 35,000 shares of common stock of Paxton Corporation as a long term investment for $900,000. During the year, Paxton Corporation reported net income of $300,
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