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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
A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to rec
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 S
Q. What is FOB destination? FOB destination signifies free on board at destination. The seller ships the goods to their destination with no charge to the buyer. Therefore the s
i dont undrstnd t concepts of assets and liabilties n also journal entries thnks
Finance Officer: the life blood of business is Finance. Procuring financial resources and their judicious utilization are the two significant activities of financial management. F
twhat is debit?
Q. Example of Unearned service fees? Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm
Q. What is Accumulated depreciation? Accumulated depreciation is a contra asset account to depreciable assets such like machinery, buildings and equipment. This account illustr
Illustrate about the matching principle This principle requires that expenses and revenue be recorded in accounting period in which they occur. For a net income figure to be a
Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of
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