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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.
Hi, How to get help with tutor, in accounting exam prepartion? please suggest?
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
Q. Example of lower-of-cost-or-market method? A company may perhaps apply LCM to each inventory item such as Monopoly each inventory class (such as games) or total inventory. T
t. liabilities ratio is the same as debt equity ratio?
stpes to be taken prepaing for final accounts
Fund flow deals with transaction within financial year (One year) while Cash flow Statement record only the cash transaction.
S olvency Ratios (Long Term): These Ratios measure the long term financial provision of the firm. Creditors and Bankers are mainly interested in liquidity. But shareholders, and
In the process of giving information from a business to a prospective buyer, an accountant is requesting a Reconsolidation for last December. What is that?
Q. Steps used in retail inventory method? The retail inventory method approximation the cost of the ending inventory by applying a cost/retail price ratio to ending inventory s
Q. Choosing an accounting career? How companies have a choice in inventory cost methods among specific identification, LIFO, FIFO and weighted-average. Likewise one of the grea
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