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!
Q. Show Credit and debit rules for expense?
The credit and debit rules for expense and Dividends accounts and for revenue accounts follow logically if you remember that expenses and dividends are decreases in stockholders' equity and revenues are increases in stockholders' equity. Ever since stockholders' equity accounts decrease on the debit side expense and Dividend accounts increase on the debit side.
Since stockholders' equity accounts raise on the credit side revenue accounts increase on the credit side. The last three credit and debit rules are:
- Diminish in revenue accounts are debits increases are credits.
- Raise in expense accounts are debits decreases are credits.
- Raise in Dividends accounts are debits decreases are credits.
Note first the management of expense and Dividends accounts as if they were sub classifications of the debit side of the Retained Earnings account.
One or more phases in the operation cannot supply all the items it makes concurrently.
Explain What do you recognized by Open Item Managed Account? Ans) Open item management make sure that all items that have not yet been cleared are available in the system. Only
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
Calculate the amount of interest for each of the following independent situations (assume 365 days per year): a)
Q. Explain about Period costs? Period costs are costs not noticeable to specific products and expensed in the period incurred. Administrative and Selling costs are period costs
Accrual Concept The accrual concept makes a distinction among the receipt of cash, and the right to obtain it, and the payment of cash and the legal obligation for pay it. In
UOIT has recently appointed you to prepare an independent consulting report to analyze the university's current financial position and to provide some recommendations for improve
Beth Clark is an Accounting Manager at Specialty Products Corp. One afternoon in early January 2012, her boss, Controller Dan Greene, met with her and stated the following, "Beth,
Q. Explain Merchandising companies? Merchandising companies buy goods that are ready for sale and then sell them to customers. Merchandising companies comprise clothing stores,
Accounting conventions The phrase 'convention' is used to signify customs or ethnicity as a guide to the research of accounting statements. A variety of accounting conventions
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