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Q. Illustrate the Financial accounting process?
In this section we describe the accounting equation as the framework for the entire accounting process. Then we demonstrate you how to recognize a business transaction and describe underlying assumptions that accountants use to record business transactions. Subsequently you learn how to analyze and record business transactions. In the balance sheet presented the total assets of Metro Courier Inc were equal to its stockholders' equity and total liabilities. This equality demonstrate that the assets of a business are equal to its equities; i.e.
Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en
Q. What is Marketable securities? Marketable securities are temporary investments such like short-term ownership of stocks and bonds of other companies. Such investments don't
Company A has only been in existence for two full years as a public company. Prior to this, it was a segment of large multinational and was spun off as stand-alone, public company.
i dont undrstnd t concepts of assets and liabilties n also journal entries thnks
How to perform a basic accounting training progrum ..
Q. Why we need book value? Book value -- total assets minus total liabilities. Book value also meansvalue of an asset as recorded on the company's financial reports or books. B
Please help journalize: -On January 1, 2017 Harmony issued 1,500 shares of $22 par, 8% preferred stock for $43,700. -On January 1, 2017 Harmony also issued 2,000 shares of common s
Q. What do you mean by Capitalize? Capitalize -- to capitalize means to record an expenditure on balance sheet as an asset,to be amortized over the future. Opposite is to expen
Q. What is dividend? One idea of the statement of retained earnings is to connect the income statement and the balance sheet. The statement of retained earnings describes the c
Q. Explain about realization principle? Realization of revenue Under the realization principle the accountant doesn't recognize (record) revenue until the seller obtains the ri
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