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Q. What is Purchase Discounts account? The buyer records the purchase discount merely when the invoice is paid within the discount period and the discount is taken. The Purchas
Explain any two concepts of accounting with examples
Selling the rights to the quantity owing by debtors to a finance company for an agreed amount (which is a lesser amount of than the figure at which they are recorded in the account
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
Super stockist is one who supply product to n no. of distributor in area. Distributor is one who supply to dealers in the area
A method of expressing the relationship between one accounting result and the other, which is intended to give a useful comparison. Accounting ratios helps in measuring the efficie
Why to and by using in journal, trading a/c, p&l a/c and ledger?
on 1 april,2007,X Ltd. makes an issu of 10,00,000 equity shares of rs.10 each payable as follows: on application-rs.3;allotment-rs.5;on first call rs.2(3 month after allotment). ap
Calculate the amount of assets for Company
On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 ca
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