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Q. Sales Returns and Allowances account?
The Sales Returns and Allowances account is the contra revenue account to Sales that records the selling price of merchandise returned by buyers or reductions in selling prices granted. Some companies utilize separate accounts for sales returns and for sales allowances but this text doesn't.
What is Post closing trial balance This statement would only show permanent accounts with a balance; all temporary accounts must have a zero balance. Credits and Debits must ba
Q. Specific identification method of inventory? Specific identification- The specific identification method of inventory costing put together the actual cost to an identifiable
Fixed Assets An additional categorization other than current or long-term is as well used for property. A "fixed asset" is an asset which is planned to be of a lasting nature a
How do you do cross-indexing?
Declared semiannual dividends of $1.20 on 75,000 shares of preferred stock and $0.08 on the 600,000 shares of $20 par common stock to stockholders of record on March 31, payable
Q. Explain about Accounting transaction? An accounting transaction is a business event or activity that causes a measurable change in the accounting equation Assets = Liabiliti
Accounting process in operation Micro Train Corporation is a small corporation that provides on-site personal computer software training using the clients' equipment. The compa
A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00
uses of accounting as a software enginner
Cartwright inc has $1,000,000 of 10% bonds outstanding on December 31, 20x8. On January 1, 20x9 adams corp and 80% owned subsidiary of Cartright, inc purchases a $250,000 part of c
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