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Purchased trucks and office equipment for cash
Metro paid USD 20000 cash on behalf of two used delivery trucks and USD 1500 for office equipment. Office equipment and Trucks are assets because the company uses them to earn revenues in the future. Note that this transaction doesn't change the total amount of assets in the basic equation but only changes the composition of the assets. This transaction reduces cash and increased trucks and office equipment (assets) by the total amount of the cash decrease. Metro inward two assets and gave up one asset of equal value. Overall assets are still USD 36000 the accounting equation now is
Q. Database management system - accounting perspective? A database management system stores related data-such like monthly sales data products, salespersons, customers and sale
debit balance
WHERE DO I START? I have two questions QUESTION1 On March 31, 2010, our company, Harry Yolo, purchased a 100,000. 8% 10-year bond for 102 from Fish Gimp, due in 6 years & 8 months
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contractee account is it an assets account or expenses Account
Q. Example on completion method? Assume that by the end of the first year (2010) the company had incurred actual construction costs of USD 30 million. These costs are 75 percen
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