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Q. Show the Chart of accounts?
Chart of accounts -- a listing of all accounts or categories into that businesstransactions would be classified and recorded. Every account generally has a number. Transactionsare coded by this number for manipulation on computers.
General rationale financial statements provide much of the information needed by external users of financial accounting. These financial statements are official reports providing i
Target Company issues bonds with a par value of $900,000 on their stated issue date. The bonds mature in 10 years and pay 10% annual interest in semiannual payments. On the issue
On January 1, 2012, Magnus Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1
even after preparing BRS why does balance as per cash book and balance as per pass book do not tally?
Q. What is sales allowance? A sales allowance is a inference from the original invoiced sales price granted when the customer keeps the merchandise but is dissatisfied for any
Q. Specific identification method of inventory? Specific identification- The specific identification method of inventory costing put together the actual cost to an identifiable
Explain the meaning of Payroll Deductions There are numerous deductions taken from an employee's earnings. These are deducted by employer before employee receives a check. D
Q. What are Accounting software packages? Accounting software packages are normally menu driven and organized into modules such as accounts payable, general ledger, accounts re
Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years an
A Customer Master Record is a permanent record that haves key information about a business partner or a material. This information must be entered into the system before any transa
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