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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.
Q. Explain about Depreciation expense? Depreciation expense is the sum of asset cost assigned as an expense to a particular period. The method of recording depreciation expense
What are the elements of accounting assets Assets are items with money value which are owned by a business. Some instance are: cash, accounts receivable (selling services or g
briefly explain the accounting concepts which guide the accountant at the recording stage
Explain in detail about the MERCHANDISE INVENTORY Cost of merchandise purchased during an accounting period is debited to Purchases account. To determine VALUE of the goods on
Q. What is the use of balance sheet? Balance sheet -- a statement of the financial position of a company at a single specific time(often at the close of business on last day
Q. Traditional body of accounting theory? Presenting the traditional body of theory first as well as the conceptual framework second gives you a sense of the historical develop
Q. Explain about Percentage of completion method? The percentage-of-completion method makes out revenue based on the estimated stage of completion of a long-term project. To ca
Q. Financial statements in European countries? In a few European countries the financial statements contain secret reserves. These secret reserves occur from a company not repo
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.on..
The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Hawk inve
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