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Q. Sales returns affect both revenues and cost of good? When a company sells merchandise to customers then it transfers the cost of the merchandise from an asset account that i
Q. Explain about full disclosure principle? The full disclosure principle states that information significant enough to influence the decisions of an informed user of the finan
Q. Show Earnings per share? Earnings per-share amounts are based upon the weighted average number of common as well as common equivalent shares outstanding during the year. Com
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
Heww Inc., issued a $50,000, 10 year bond with a stated interest rate of 6%. Assume interest payments are made semi-annually. What is the selling price of the bond if the mark
kind of information you would want to put on social media
Journal voucher is the voucher in which all the adjustment related entries and non cash non bank transactions are come ijournal eg-dep, some of them book the bills in journal and
Q. What is classified balance sheet? The balance sheets we presented thus far have been unclassified balance sheets. An unclassified balance sheet has three major categories li
Why is a provision for depreciation made in the financial statements? A to charge the cost of non-current assets against profits B to make a provision for repairs C to mak
Q. LIFO under periodic inventory procedure? The LIFO (last-in, firstout) method of inventory costing presume that the costs of the most recent purchases are the first costs cha
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