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Q. How does asset cash increase?
An asset cash increases (debited) as well as a liability unearned service revenue increases (credited) by USD 4500. The credit is to Unearned Service Fees relatively than Service Revenue because the USD 4500 applies to more than just the current accounting period. Unearned Service Fees is a liability for the reason that if the services are never performed the USD 4500 will have to be refunded. If the payment had been there for services to be provided in December the credit would have been to Service Revenue.
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
It is reduction of taxes where from the income is produces and regarding services to be taxed there are about 120 services which are taxed in India for provision of service tax
Why it is important for independent auditor to be a member of a professional body?
using the break-even equations to solve for price and variable cost per unit andromeda company's break-even point is 2,400 units. variable cost per unit is $42; total costs are 6
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Q. Recording changes in revenues and expenses? Examine that Notes Payable, liabilities and increase with an entry on the right (credit) side of the account. Recording changes i
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