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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 either an income statement or a Balance Sheet as it does not give complete information
ii) It is organized from the information enclosed in the financial statements and per se the accuracy of the information is uncertain
iii) This declaration disregards the changes in the working capital items and thus fails to throw light on the financial position of the fear
iv) It does not offer for uninterrupted changes
owner invested 80000 cash and 2000 office equpmeent in to the business bank account
1. State the equity equation. 2. Which account represents the beginning equity figure? 3. In which accounts are changes to equity recorded? 4. How do drawings affect the calculati
Write short notes on 5 modern accounting techniques
Explain in detail about the MERCHANDISE INVENTORY Cost of merchandise purchased during an accounting period is debited to Purchases account. To determine VALUE of the goods on
What is the implication of applying accounting concepts wrongly
Which of the following items will be entered in the cash payments journal of an entity when app applicable subsidiary journals are in use? Merchandise purchased on credit Merchand
During the week ended May 15, 2013, Scott Fairchild worked 40 hours. His regular hourly rate is $31. Assume that his earnings are subject to social security tax at a rate of 6.20 p
began his business with equipment valued at $40,000 and place $400,000 in the business checking account. what are the accounts affected?
Q. Example of Net purchases? Only the description would change. If Hanlon had previously paid the account the debit would be to Cash instead of Accounts Payable ever since Hanl
Q. What is Gross selling price? When a sale is on account it credits the Sales account as well as debits Accounts Receivable. The following entry records a USD 20000 sale on ac
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