ledger, Accounting Basics

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what is the implication of applying accounting concepts wrongly

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A recent cash budget showed estimated cash receipts of $159,000, estimated cash disbursements of $155,000, and a desired ending cash balance of $6,000, with no borrowing of funds

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Q. What is Accumulated depreciation? Accumulated depreciation is a contra asset account to depreciable assets such like machinery, buildings and equipment. This account illustr

2 questions, WHERE DO I START? I have two questions QUESTION1 On March 31,...

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A firm has $200, A firm has $200,000 in total assets and $120,000 in owner'...

A firm has $200,000 in total assets and $120,000 in owner's equity. What are the total liabilities? A. $80,000 B. $200,000 C. $320,000 D. Cannot be determined from the info

Limitations of funds flow statement, Limitations of Funds Flow Statement : ...

Limitations of Funds Flow Statement : despite the a variety of uses of the announcement, it has convinced problems also.  They consist of the subsequent i) It cannot substitute

Identify the errors, Company A has only been in existence for two full year...

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.

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Q. What are Accounting software packages? Accounting software packages are normally menu driven and organized into modules such as accounts payable, general ledger, accounts re

What are bad debts, Q. What are Bad debts? Bad debts -- amounts owed to...

Q. What are Bad debts? Bad debts -- amounts owed to a company which aren't going to be paid. An accountreceivable becomes a bad debt when it's recognized that it won't be paid.

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