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Explain in detail about the MERCHANDISE INVENTORY Cost of merchandise purchased during an accounting period is debited to Purchases account. To determine VALUE of the goods on
During the tracking period, 18 March to 21 April 2011, your team is to monitor the performance of the shares and the overall performance of the Australian share-market. Can you ma
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
How accounting helps in Internationalisation of businesses Internationalisation of businesses has created a need for accounting rules to have an international reach. It can no
Windsor Company will receive $100,000 in 7 years. If the appropriate interest rate is 10%, the present value of the $100,000 receipt is ? Answer: PV = FV (PVIF) = $100,000 x 0.5132
1. From the following information, prepare a Balance Sheet showing the workings: 1. Working Capital ` 75,000 2. Reserves and Surplus ` 1,00,000 3. Bank Overdraft ` 60,000 4. Curren
Start in cell E3. Complete the series of substitution values ranging from 5 to 15 at increments of 1, vertically down column E.
State the steps of Merchandise inventory 1) TRANSFER THE BEGINNING INVENTORY FIGURE Debit INCOME SUMMARY for beginning inventory amount. Credit MERCHANDISE INVENTORY fo
Q. What do you mean by Not-for-profit organizations? Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and a
Q. What is Variable cost? Variable cost -- a cost which changes as production or sales change. If a business is producingnothing and selling nothing, variable cost must be zero
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