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Consistency Concept In practice, there are some manners to record an event or a transaction in the books of account. For illustration, the trade discount on raw material purch
Determine about the Debit memorandum A debit memorandum is the buyer's written request to seller for credit. Individual account is debited to reduce the amount which they nee
Define the term- FICA TAX This is a matching tax paid equally by employee and employer. Two parts-OASDI and HIP. Current rate for OASDI is 6.2% on the first $102,000 earned
decrease in assat & decrease in capital
How to do a trial Balance Particulars Amount Dr. Amount Cr. In
Suppose you want to have $5,000 saved at the end of five years. The bank will pay you 2% interest on your money. How much would you have to deposit today to have the $5,000 you w
On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 ca
Q. Example of T-accounts? Suppose that the last day of December 2010 falls on a Monday this expense account doesn't show salaries earned by employees for the last day of the mo
BUS ADM-201 Fall 2012 EXTRA CREDIT 2 - Due in DS week of November 26 GRADING: Worth 15 points. Partially credit will only be given if you attempt all requirements a through g lis
#question.outline basic elements to keep in mind while preparing an income statement?
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