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When common stock has a par value of $2 and a market value of $15: 1.) the liability of the stockholders is $13 per share 2.) there will be additional paid-in capital of $1
how is withdrawaL OF goods by owner for personal use treated in the books
Q. Explain about pegboard system? One more innovation in manual systems was the one write or pegboard system. Beside creating one document and aligning other records under it o
1. The closing stock of Prince Corporation has been reduced by $8,000 from its opening amount of $22,000. 2. No dividend has been paid or proposed by the company. 3. The only cap
Q. Accounting systems from manual to computerized? The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and
what are special journals
1. Double declining method 2. Units of production method 3. Sum of year digit method 4. Straight-line method Depreciation Fund Method Insurance Method Annualy Method
Q. Show Transactions affecting the income statement? To continue to exist a business must be profitable. This signifies that the revenues earned by providing goods and services
Q. What do you mean by Not-for-profit organizations? Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and a
Q. What is trial balance? The firm credits two Accounts Payable and accounts Cash in this one entry. But the dollar totals of the debits and credits are equal. Cyclically accou
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