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Explain the term- Reversing entries and Interim statements
Reversing entries - Made the first day of new accounting period. They are exact opposite of the adjusting entries made to record accrued expenses. (Salary is the only one that you would be doing.)
Interim statements are prepared during the fiscal year for periods of less than 12 months-monthly, quarterly, or semi-annually. These are used to create statements however aren't journalized until the end of year.
A) During the year, total liabilities enhanced $106,010 and stockholders' equity reduced $67,590. What is the amount of total assets at the end of the year? B) If total assets e
Question 1 Write a short note on the following with example a. Activating budgets b. Reversing journals c. Memorandum vouchers d. Optional vouchers e. Creating Bill of Materials
on which shares pre acquisiton dividend received
Q. Learning objectives of Horizontal and vertical analysis? - An account is a storage element used to classify and summarize money measurements of business activities of a simi
Q. Illustrate a sales cycle of company? When exploratory a company's management, sales cycle and users of financial data must be aware of any seasonal changes that may affect i
in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer
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format of the account
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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