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Q. Explain Merchandise in transit? Merchandise in transit is merchandise in the hands of a shipment company on the date of a physical inventory. As stated above buyers should
Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
Personal accounts --> Debit the benefit receiver, credit the benefit giver Real accounts --> Debit what comes in, credit what goes out Nominal Accounts --> Debit all expenses
what is the implication of applying accounting concept wrongly
Calculate the amount of interest for each of the following independent situations (assume 365 days per year): a)
General rationale financial statements provide much of the information needed by external users of financial accounting. These financial statements are official reports providing i
types of legancies
what the accounts maintained in retail business
1. Shaving 5% of the estimated direct labor hours in the predetermined overhead rate will result a high overhead rate, which would likely result a high credit balance of overapplie
Q. Describe the accounting procedures? The demand for college professors differ greatly by discipline. In fields such like Fine Arts, English, Philosophy and Psychology there i
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