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I need help in a project on 'accounting process' . It should begin with a storyline in which a buisness have to be chosen(i have chosen a tyres dealer). Then transactions taking place between 1 april 2013 to 30 june 2013(accounting period is 3 months). It should include 40 transactions in following manner : capital 1(71 lacs only cash) rupees(cash), purchase of assets 3 , procuring a bank loan 1 , purchase of goods 6 (cash 3, credit 3) ,sale of goods 6 (cash 3, credit 3) ,incomes and expenses 10 , payment to creditors 2(with discount 1 , without discount 1), receipts from debtors 2 (with discount 1 , without discount 1) , purchase return 2 ,sales return 2, bad debts 1 ,drawings 2 (cash 1 , goods 1) , charity 1 , free sample 1. Totol -40 transactions (only). I need this 40 transactions which should be simple as i have to prepare journal, ledger,vouchers,trial balance and final accounts from this
Explain the Terms of Payment Revolving charge plans are set up so that you can pay a percentage plus a finance charge on a monthly basis. Credit terms - allow purchaser a
The Sneed Corporation issues 10,000 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction will consist of a debit to Cash for $75
Creditors: this may be short or long-term lenders. Short-term creditors comprise suppliers of materials, services or goods. They are generally termed as trade creditors. Long-term
is accounting is an art or science
A bauxite mine was acquired at a cost of $1,500,000 and estimated to contain 6,000,000 tons of ore. During the year, 95,000 tons were mined and sold. Prepare the journal entry fo
Establishing the Change Fund Change Fund (asset) is debited and Cash is credited. Only time this fund would be used is if the fund is established or increased, just like Pet
Comprehensive Problem in Trial Balance Cash $ 26,470 A/R 14,222 Office Supplies 4,298 Prepaid Insurance 23,137 Equipment 131,495 A/D - Equipment $19,096 Accounts P
stpes to be taken prepaing for final accounts
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
Q. What do you mean by partnership? A partnership is a non-incorporated business owned by two or more persons associated as partners. Habitually the same persons who own the bu
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