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Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p
Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare
What is the full disclosure principle
Q. Procedure of recording business transactions? The raw information of accounting is the business transactions. We documented the transactions in section 1 as increases or dec
Q. Show payment of a liability? Accountants are able to easily measure some changes in assets and liabilities such as the acquisition of an asset on credit and the payment of a
A sweep account is actually a grouping of two or more accounts at a bank. It is useful in managing a steady cash flow among a cash account where scheduled payments are made from an
began his business with equipment valued at $40,000 and place $400,000 in the business checking account. what are the accounts affected?
Q. What is Articulate? The fundamental accounting concept of the double-entry method of recording transactions. Under the double-entry approach each transaction has a two-sided
A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00
What is uses of Purchases journal Purchases journal (SPECIAL JOURNAL) Used to record only credit purchases of merchandise-may be only one column which is posted to two accou
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