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The beginning capital of the business totals $4,000. If the net income for the period totals $14,000 and the withdrawals by the owner total $3,000, what will be the new capital balance reported?
what is the implication of applying accounting concept wrongly
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
Antidilution of Ownership The right of an investor is to continue the same percentage ownership of an organizations main stock in the event that the organization issues more s
Split common stock 4 to 1 and reduced PAR from $80 to $20. After the split there were 600,000 shares.
What is the end-of-period worksheet Show Trial Balance-debits MUST EQUAL credits Show Adjustments-debits MUST EQUAL credits Carry adjustments forward to Adjusted Trial Ba
Q. What are Bad debts? Bad debts -- amounts owed to a company which aren't going to be paid. An accountreceivable becomes a bad debt when it's recognized that it won't be paid.
Q. Explain about stable dollar assumption? In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the st
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Assume that the following are independent situations recently reported in the Wall Street Journal. 1. National Electric 8% bonds, maturing January 28, 2013, were issued at 112.16.
Teague Company purchased a latest machine on January 1, 2012, at a cost of $150,000. The machine is expected to have an 8-year life and a $15,000 salvage value. The machine is expe
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