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Q. General accepted accounting principles?
In general accepted accounting principles (GAAP) set forth standards or methods for presenting financial accounting information.
A standardized presentation format facilitates users to compare the financial information of different companies more easily. In general accepted accounting principles have been either developed through accounting practice or established by authoritative organizations.
Using 2012 as the base year, prepare a trend anslysis for the data that follow, and tell whether the results suggest a favorable or unfavorable trend.(round to one decimal place.
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
how the minority interest will be calculated?
AL MASA a sole trader,decided to install a new machine to use
Illustrate the cases of financial accounting ?Enron, an energy-trading business which is based in Texas, and was accused of entering into complicated financial arrangements in
Preparing financial statements for a merchandising business (The statements are completed in this order.) 1. Income Statement (contains only expenses and revenue and show
Zack is a farmer who buys his feed and fertilizer from a farmer cooperative. In 2012, Zack purchased $300,000 in feed and fertilizer for the farm and $10,000 of household goods. Be
State the term- Purchases Returns and Allowances Purchases Returns and Allowances is the name of the account which provides better control of allowances and returns of mercha
Q. Explain about Merchandise inventory? Merchandise inventory is the quantity of goods assumed by a merchandising company for resale to customers. Merchandising companies verif
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
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