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On January 1, 2012, Lexmark Company's Accounts receivable account had a debit balance of $10,000. During January, 2012, the company billed customers for services in the amount of $300,000. Also during January, the company collected $240,000 from its customers on account. What was the balance in the Accounts receivable account at the end of January? A) $60,000 B) $250,000 C) $70,000 D) $10,000
Q. Database management system - accounting perspective? A database management system stores related data-such like monthly sales data products, salespersons, customers and sale
Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare
Preparing financial statements for a merchandising business (The statements are completed in this order.) 1. Income Statement (contains only expenses and revenue and show
Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years an
Concept of Flow of Funds : It refers to the 'Change in Funds' or 'Change in Working Capital'. That is, any increase or decrease in Working Capital. In business, daily, numerous t
procedure followed in government system of accounting in india
You just took out a variable-rate mortgage on your new home. The mortgage value is $100,000, the term is 30 years, and initially the interest rate is 8%. The interest rate is fixed
owner invested 80000 cash and 2000 office equpmeent in to the business bank account
The total assets of Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.'s owner's equity?
introduction,features,objectives,types of branches,difference between branches and departments
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