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Q. Objective of Recording business transactions?
- Use the account as the essential classifying and storage unit for accounting information.
- Articulate the effects of business transactions in terms of debits and credits to different types of accounts.
- List the points in the accounting cycle.
- Record the results of business transactions in a journal.
- Post journal entries to an account in the ledger.
- Organize a trial balance to test the equality of debits and credits in the journalizing and posting process.
- Use and Analyze the financial results-horizontal and vertical analyses.
Your report must include at a minimum the following items. 1. Calculate the following ratios based on the 2011 financial statement: * Current ratio * Quick ratio * Total asset
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What should companies not show as non-current assets in their balance sheets? A plant bought on hire purchase B plant fully depreciated C plant held on finance leases D pla
types of legancies
#Q. Example on closing process?
Determine about the revenue section Revenue section provides a figure for net sales, which is balance of the Sales account, less the balances of contra sales accounts. (Sales -
Is the interest on a note receivables recorded if paid prior to the due date? A. Debit to interest expense B. debit to interest payable C. Credit to interest receivable D. Credit
Liquidity refers to a company's cash position, availability of resources to meet short-term cash requirements, and overall ability to obtain cash in the normal course of business.
A calculate of the wealth is earned by nations by economic activates all around the world. Gross National Income involves the total value of goods and services produced within a
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