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Fixed Assets
An additional categorization other than current or long-term is as well used for property. A "fixed asset" is an asset which is planned to be of a lasting nature and which is used by the business to offer the ability to carry out its trade. Instance of "tangible fixed assets" comprise plant & machinery, land & buildings and motor vehicles. "Intangible fixed assets" might include goodwill, patents, trademarks and brands - though they can only be included if they have been "acquired". Savings in other companies which are planned to be held for the long-term can as well be shown under the fixed asset heading.
Classified income statement It is more involved for a merchandising business to conclude net loss or net income. Income statement is categorized into sections: 1. Revenue
Journal Entries are recorded on a double entry system like debit and credit concept. In order to record a journal entry the following steps require to be followed. ? Enter the J
Q. What is Public accounting? Public accounting firms offer professional accounting and related services for a fee to organizations, other companies, and individuals. An accoun
What is Beer direct materials and raw materials? Raw materials are the basic materials and parts that are to be used in the manufacturing process Raw materials that can be ph
Prepare a trial balance All account names would be listed in left-hand column. Place the account balance in appropriate debit or credit column for those accounts which have
entry for bad debts provision
The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. Fals
They are likely to tests for tact, diplomacy, and with descriptive skills.
on 1 april,2007,X Ltd. makes an issu of 10,00,000 equity shares of rs.10 each payable as follows: on application-rs.3;allotment-rs.5;on first call rs.2(3 month after allotment). ap
1. An accountant records a transaction when cash is paid or received under which basis of accounting? cash deferred accrual liability 2. When unearned revenue is initially rec
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