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Q. Show Effects of transaction?
A prepaid insurance, asset, increases (debited) and cash, decreases (credited), asset by USD 2400. The debit is to Prepaid Insurance relatively than Insurance Expense because the policy covers more than the current accounting period of December (insurance policies are usually paid one year in advance). As you will observe in section 3 prepaid items are expensed as they are used. If this insurance policy was merely written for December the entire USD 2400 debit would have been to Insurance Expense.
Using 2012 as the base year, prepare a trend anslysis for the data that follow, and tell whether the results suggest a favorable or unfavorable trend.(round to one decimal place.
profit
What is the latest change taking place in the accounting world that will make a big difference to the way accountants prepare accounts?
Q. Example of Adjustments for accrued items? For instance assume Micro Train Company has some money in a savings account. On 2010 December 31 the cash on deposit has earned one
effects of technology in banking sector
State the steps of Merchandise inventory 1) TRANSFER THE BEGINNING INVENTORY FIGURE Debit INCOME SUMMARY for beginning inventory amount. Credit MERCHANDISE INVENTORY fo
Q. Complicated type of business? Your study of accounting began with service companies as instance because they are the least complicated type of business. You are at present r
What is Federal unemployment tax Federal unemployment tax (FUTA) requires the payment of taxes to provide benefits for workers during periods of temporary unemployment. This
i have to make a journal and ledger and retained earning all of those thing can i get help
DEFINITION OF COST ACCOUNTING DEFINITION: as said by the Institute of Cost and Works Accountants (ICWA), London, Cost accounting is " the method of accounting for costs from t
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