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Q. Show Sales returns and allowances?
Sales returns and allowances Merchandising companies typically permit customers to return goods that are defective or unsatisfactory for a variety of reasons such like wrong colour wrong size, wrong amounts, wrong style or inferior quality. Actually when their policy is satisfaction guaranteed some companies permit customers to return goods simply because they don't like the merchandise.
Compensation for the uncertainties inherent in supply and demand
office supplies on hand at year-end amounted to 3000.
A sweep account is actually a grouping of two or more accounts at a bank. It is useful in managing a steady cash flow among a cash account where scheduled payments are made from an
Purchase of office supplies what is the account classification?
Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every
__________ accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables
Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe
Determine the specific citation for accounting for each of the following items: 1. Accounts receivables from related parties should be shown separately from trade receivables. 2. T
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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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