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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
Q. Consistency in accounting principle? Consistency necessitates that a company use the same accounting principles and reporting practices through time. Consistency makes possi
Hello, I'm having trouble understanding Direct Cost, Overhead Cost and Indirect Cost. ***Also Period cost and Product cost. please can anyone explain it and give examples for eac
#2, The comparative balance sheets and income statements of Worsley Ltd are shown below. Worsley Ltd. Statement of Financial Position as at December 31 Current Assets 20x3
Q. Show Credit and debit rules for expense? The credit and debit rules for expense and Dividends accounts and for revenue accounts follow logically if you remember that expense
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
when discrepancies occured on financial documents,what consequences will arise?
What is ACOUNTS RECEIVABLE LEDGER Businesses have several customers and individual businesses aren't assigned an account number they are just in alphabetical order. Accounts
In November 2012, US based information technology Hewlett Packard recorded a write-down of around $8.8 billion related to its $11.3 billion acquisition of the UK based software mak
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Accounting is frequently termed as the language of business. The fundamental function of any language is to function like a means of communication. In this circumstance, the reason
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