Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Service revenue earned on account
Metro performed courier deliverance services for a customer who agreed to pay USD 900 at a later date. The company approved credit rather than requiring the customer to pay cash immediately. This is called as earning revenue on account. The transaction comprise of exchanging services for the customer's promise to pay later. This transaction is alike to the preceding transaction in that stockholders' equity retained earnings enhance because the company has earned revenues. But the transaction differs for the reason that the company has not received cash. In its place the company has received another asset an account receivable. As noted previously an account receivable is the amount unpaid from a customer for goods or services already provided. The company has a lawful right to collect from the customer in the future. Accounting makes out such claims as assets. The accounting equation counting this USD 900 item is as follows:
Q. Valuation of ending inventory? First a merchandising company should be sure that it has properly valued its ending inventory. If the resulting in an ending inventory is over
Q. Explain about realization principle? Realization of revenue Under the realization principle the accountant doesn't recognize (record) revenue until the seller obtains the ri
Q. What is Sales revenues? The sale of goods takes place between two parties. The seller of the merchandise transfers them to the buyer in exchange for cash or a promise to pay
When does something that is a debit becomes a credit?
At the end of this assignment, you will have: Identified the facts and accounting issues at AVE. Researched the appropriate accounting literature. Analyzed, interpreted,
When common stock has a par value of $2 and a market value of $15: 1.) the liability of the stockholders is $13 per share 2.) there will be additional paid-in capital of $1
Difference between SAP MEMORY and ABAP MEMORY? Ans) SAP Memory: Global, user-related memory that enlarges beyond transaction limits. Access to the SAP memory is through SPA/GPA
Q. Show accounting deception situations? In 2002 The Sarbanes-Oxley Act was approved. The Act was approved as one result of the large losses to the employees and investors from
how much is it to get a tutor, per hour or package? i am in an mba program now
A business may perhaps engage in thousands of transactions during a year. An accountant summarizes and classifies the data in these transactions to create useful information.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd