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Assume we had given tour advance to party how to treat entry and which head have to given expenditure?
Ans) Cash/Bank a/c DR
To Party(name)a/c (Advance Paid For Tour)
Effects of transaction An asset supplies on hand increases (debited) as well as a liability accounts payable increases (credited) by USD 1400. The debit is to Supplies o
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2013 Debit Credit Cash $
Hi i just need the solution of case study.
Q. What do you mean by consigned goods? FOB destination, freight collect - Seller acquires freight charges and buyer initially pays freight charges. Buyer deducts freight accus
The operating expenses section Operating Expenses - directly associated to the sale of merchandise General expenses (administrative expenses) related to business's offic
Present value -- a notion that compares the value of money available in the future with thevalue of money in hand today. For instance $78.35 invested today in a 5% savings accountw
Q. Qualitative characteristics of financial reporting? Accounting information must possess qualitative characteristics to be useful in decision making. This criterion is hard t
OBJECTIVES OF FINANCIAL STATEMENT ANALYSIS Financial Statements are analyzed by dissimilar users for dissimilar purposes. Some of the purposes are as under- 1. To recognize
Mr. Horace, aged 25, has $25,000 cash to invest for his retirement. In addition, he plans to save and invest $8,000 per year (at the end of every year) for the next 40 years, at wh
Perpetual and Periodic inventory a) Describe the difference between the perpetual inventory method
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