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Q. Income taxes payable?
Taxes withheld from employees comprise federal income taxes, state income taxes and social security taxes withheld from employees' pay checks. The company plans to pay these totals to the proper governmental agencies within a short period.
Income taxes payable are the taxes remunerated to the state and federal governments by a corporation on its income.
Interest payable is interest that the company has collected on notes or bonds but has not paid by the balance sheet date because it is not due until later.
Dividends payable or amounts the company has declared owed to stockholders represent a distribution of income. Since the corporation hasn't paid these declared dividends by the balance sheet date they are a liability.
briefly explain the accounting concepts which guide the accountant at the recording stage
Cost sheet is sheet Where all the cost should be recorded which related to the produc.
The total assets of Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.'s owner's equity?
Q. Explain about Staff accountant? Let us travel with Tracy as she begins her career at the staff level. At the onset, she works directly under a senior accountant on each of h
Balance Sheet Classi?cations and Relationships Shelley and Co. has the following balance sheet elements as of December 31, 2012. Land. . . . . . . . . . . . . . . . . . . . . . . $
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Dunmore Coal and Iron purchased $1,000,000 in corporate bonds and 500,000 shares of common stock in its competitor, Olyphant Iron. Dunmore plans to hold onto the bonds until the ma
You received an email from Carl the operations manager from the California Container division. They produce packaging for cell phones. Carl understands that his product is an imp
even after preparing BRS why does balance as per cash book and balance as per pass book do not tally?
Uses of the Profit and Loss Account 1) The key utilize is to monitor and calculate profit. This suppose that the informat ion recording is correct. Significant harms can arise
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