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State about the Trade discounts
Percentage reduction from list price of the merchandise. These aren't recorded in the accounting records of the seller or buyer. Buyer always records goods at their actual cost. Seller records items sold at their actual selling price.
Problem It is usually recognized that power is an essential component of accountability and that greater accountability is recognized towards those stakeholders who have more p
Company A has only been in existence for two full years as a public company. Prior to this, it was a segment of large multinational and was spun off as stand-alone, public company.
Q. Advantages and Disadvantages of FIFO? FIFO: Advantages (a) FIFO is easy to apply (b) the assumed flow of costs habitually corresponds with the normal physical flow of goods
on which shares pre acquisiton dividend received
Assignment On accounting is language of business
At the end of the current year, $19,900 of fees have been earned but not billed to clients. a. What is the adjustment to record the accrued fees? Indicate each account affect
Q. Completing the accounting cycle? Subsequent to studying this chapter you should be able to - Recapitulate the steps in the accounting cycle. - Organize a work sheet fo
Q. What is sales transaction? - In a sales transaction the seller transmits the legal ownership (title) of the goods to the buyer. - An invoice is a document prepared by the
What is the accounting equation?
Q. What do you eman by Expenditure? Expenditure -- an expenditure takes place when something is attained for a business -- an asset isbought, salaries are paid and so on. An ex
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