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Q. What do you mean by Salaries? The recording of the payment of employee salaries typically involves a debit to an expense account and a credit to Cash. But for a company pays
A great tool to import and certify transaction data from other financial systems and make invoices debit memos credit memos and on-account credits Setup steps: 1. Describe th
what is the accounting?
Angel Individual investors which are often called angels, make capital investments in entrepreneurial ventures in return for equity (partial ownership) in the industry. These
Q. Corporate accounting and accounting for sole proprietorship? Several textbook authors use a sole proprietorship and a partnership form of business ownership to exemplify acc
A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $7
Q. Misstatement of accounting information? The FASB describes materiality as the magnitude of an omission or misstatement of accounting information that in the light of surroun
Determine the terms of Recording sales of merchandise The SALES ACCOUNT is a temporary account with a normal credit balance. It's ONLY used to record sale of merchandise on
the terms debit and credit are synonymous with left and right.
Split common stock 4 to 1 and reduced PAR from $80 to $20. After the split there were 600,000 shares.
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