Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Explain the term- CASH SHORT AND OVER
This account is used to record both a shortage and overage of cash in cash drawer. When change is made during a business day, mistakes can be made and sales won't equal the amount of cash in the drawer. This is concluded by counting the drawer money, removing change fund, and comparing the amount left with the total of the Sales.
This account doesn't have a normal balance as it only summarizes the cash usage. At the end of month, if balance is a debit, it's considered an expense; if its balance is a credit, it's considered miscellaneous income.
Cash Short and Over is closed to Income Summary account at the end of accounting period. Miscellaneous Income if overage; Miscellaneous Expense if shortage.
Perth Ltd acquired 80% of the share capital of Summer Ltd on 1 July 2011. The following equity balances appeared in the records of Summer Ltd at the date of acquisition: Share capi
Q. How to determine inventory cost? To place the proper evaluation on inventory a business must answer the question: Which costs must be included in inventory cost? After that
Q. Explain about Accounting transaction? An accounting transaction is a business event or activity that causes a measurable change in the accounting equation Assets = Liabiliti
Q. Define Gains and Losses? Gains are raise in equity net assets from peripheral or incidental transactions of an entity as well as from all other transactions and other events
Q. What do you mean by bookkeeping? Accounting is frequently confused with bookkeeping. Bookkeeping is a mechanical procedure that records the routine economic activities of a
I need help understanding my Accounting 205 class. Would some one please help me understand what I am having such a hard time comprehending.
Consignor is the person who is the holder of the goods and who distribute the goods to the consignee. Consignee is the person who takes the goods and he just possesses the goods
problems and solutions
why would a bank be interested in the investment ratios of its customer firms..
Q. What is Chart of accounts explain? The chart of accounts is a absolute listing of the titles and numbers of all the accounts in the ledger. The chart of accounts is able to
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd