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Sales taxes and Schedule of accounts receivable
Schedule of accounts receivable
Accounts Receivable and individual accounts should match. Only accounts which have a balance will be listed.
Sales taxes
Sales taxes are collected from customers by seller and later paid to the appropriate tax office in government.
The open items of an account can only be cleared once you post an identical offsetting amount to the account. In other words, the balance of the items assigned to every other must
If the amount in supplies expense is the january 31 adjusting entry and $650 of supplies waw purchased in january what was the balance in supplies on january 1
Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
The Company changed its process of accounting for pre-opening costs. These changes had no cash impact and the pro forma amounts accessible in the consolidated statement of income r
Describe how the QuickZoom feature of QuickBooks does or does not provide the same help in the statement of cash flows as it does in the income statement.
Q. Learning objectives of inventory turnover ratio? - Net income for an accounting period depends straight on the valuation of ending inventory. - If the ending inventory is
Generally Accepted Auditing Standards (GAAS) - Standards set by AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (AICPA) which concern AUDITOR'S professional qualities and judgme
The magnitude of operating leverage for Perkins Corporation is 3.4 when sales are $100,000, if sales increase to $110,000, profits would be expected to increase by what percent?
FICA Tax (Social Security) Both the employee and the employer contribute equally. OASDI has a Taxable Wage Base that is the maximum amount of earnings during a calendar y
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