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Q. How does asset cash increase? An asset cash increases (debited) as well as a liability unearned service revenue increases (credited) by USD 4500. The credit is to Unearned S
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
Determine about the Debit memorandum A debit memorandum is the buyer's written request to seller for credit. Individual account is debited to reduce the amount which they nee
In earlier times in history, wealthy people utilized 'stewards' to direct their property. These stewards made an account of their stewardship to their owners periodically. This ide
Determine the Purchasing Procedures Alarge company would use a "purchasing agent" who heads purchasing department. Small companies would use manager/owner, etc. Seller recei
Q. What is Inventory obsolescence? Inventory obsolescence -- inventory no longer salable. Possibly there is too much on hand,possible it is out of fashion. True value of the in
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
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Q. Explain about revenue recognition principle? Under the revenue recognition principle revenues must be earned and realized before they are recognized (recorded). Earning of r
Explain:- 1. Why would users want to see cash flows broken out into three parts (operating, investing, and financing)? What's the purpose of this structure? 2. Companies often use
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