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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.
can a buyer still avail the 2% discount if he/she partially paid the accounts receivable at the 5th day and the full payment is on the 10th day of the given discount period in th
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 do you mean by Capitalize? Capitalize -- to capitalize means to record an expenditure on balance sheet as an asset,to be amortized over the future. Opposite is to expen
Q. What are simple journal entries? To understand the cross-indexing and posting process trace the entries from the general journal to the general ledger. The ledgers accounts
UNITs UNIT COST UNIT SALE PRICE AUG 3 SALE 45 $ 83 8 PURCHASE 75 $ 52 21 SALE 70 $ 85 30 PURCHASE 10 $ 55 Decorative steel began August with 55 units of iron inventory th
entry for bad debts provision
the consequences of non-compliance of each of the accounting concepts.
what will be the journal entry for this: A debit memo from the bank was received for bank charges P200.00
1. For each of the following accounting assumptions/principles, explain a business transaction: (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin
Q. Explain about Depreciation? Depreciation Just as prepaid rent and prepaid insurance indicate a gradual using up of a previously recorded asset thus does depreciation. But th
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