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Q. Explain Weighted-average inventory?
Weighted-average: Ensuing inventory is priced using a weighted-average unit cost. In perpetual inventory procedure a new weighted-average is determined after each purchase. In periodic procedure the average is determined at the end of the accounting period by dividing the total number of units purchased plus those in beginning inventory into total cost of goods available for sale. In the determining of cost of goods sold this average unit cost is applied to each item. Under the weighted-average method in a period of increasing prices net income is usually higher than income under LIFO and lower than income under FIFO.
Data evaluation is observed as the most significant activity in accounting recently. Evaluation of data comprises controlling the activities of business along with the assist of bu
Ledger = From the Journal entries we will post the transactions in a book known as Ledger. Ledger is a book which contains the summarized and classified form of permanent record
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.
Q. What is Accrued expenses? Accrued expenses, accruals -- an expense that has been incurred though not yet paid for.Salaries are a good instance. Employees earn or accrue salar
2. One never goes alone, hens operation research employs different tools to accomplish: its own tasks, discus each and every tool employed by or throughout its doers.
Define Accounting. Briefly explain the accounting concept which guide the accounting at the recording stage?
Treasurer: He is the custodian arid manager of each cash and near-cash resources of the firm. The treasurer arranges credit reviews and sets policy for collecting receivables as d
A career in taxation is by no signifies limited to public accounting. for the reason that there are so many types of taxes impacting so many aspects of our lives tax specialists ac
what are the implications of applying accounting concepts wrongly
1.A business man strated business with 100million on the bank account obtained as a retirement package, 2.He used part of the money and bought a building worth 60 million, 3.He let
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