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Explain the term- Salaries Expense and payment
The Accounting Entry for Employee Earnings and Deductions
Employer is the "agent" who is responsible for withholding the amounts of deductions and then passing them on to the proper agency. Employer is liable for every amount withheld until it is passed on to the appropriate agency. Every deduction is recorded in a liability account.
Salaries Expense-debit (This can be Office Salaries Expense and Sales Salaries Expense if more than one account is required to keep track of the salary expense.) This is an account used to record gross amount of payroll.
PAYMENT. One check for net amount of the payroll is written on company's regular checking account. Then this check is deposited in this separate payroll account. Individual checks for employees are then written on special account. When all checks have been cashed by employees, payroll account must have a zero balance.
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
explain the procidure followed in government system of accounting in india?
Q. Explain about lower-of-cost-or-market method? The lower-of-cost-or-market (LCM) method is the inventory costing method that values inventory at the lower of its historical c
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20 hypothetical inventory transactions both sale and purchase
State the term- Liabilities Current Liability is a debt which is due for payment within one year. Long-term liability is one NOT paid in a year. OWNER'S EQUITY Also
GDYJ-503 is developed according to the national standard GB-86 Insulating Oil Dielectric Strength Testing Method .The tester can test three cups of oil at the similar time. LCD scr
a physical inventory on december 31 shows 2,000 units on hand. holliday sells the units for $12 each. the company has an effective tax rate of 20%. holliday uses the periodic inv
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contractee account is it an assets account or expenses Account
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