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Assume we are selling a device for 6000 and the company need to replace that device with a new device which is a bit more than the prior price say 7000.Then,how we can account this?
Ans) First we require to write-off the old asset ( by reversing the asset, accumulated depreciation and depreciation for the present FY by Cr the Fixed asset Write-off and Dr Proft/Loss on sale of asset under P&L account )
Cash Book: It is one of the Subsidiary Book which is usually used by any business organisation to record all the cash transactions which helps to know the cash position as and when
Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p
Recording Private Company Credit Card Sales Goes to the individual company-not a bank. Treated as a sale on account. Credit card Company is responsible for collection of
what is the BRS
Has accounting become too interesting? In recent years, accounting has become front-page news and has been a key talking point among those connected with world of business. Reg
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2. One never goes alone, hens operation research employs different tools to accomplish: its own tasks, discus each and every tool employed by or throughout its doers.
Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su
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Explain about the payroll register This is a summary of gross earnings, deductions and net pay for all employees for a specific payroll period. Register illustrates all amounts
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