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Assume we are a trading company giving devices and sometimes after sales service. when any fault came we just replace the hardware from another defective device and getting the payment from the customer. How can we account that?
Ans) At the time of sale
cash sales. Cash A/c-------Dr
to sales A/c
2. Credit sales
Customer Name A/c ----Dr
to sales A/c.
Honolulu Cookie Company provides the following information in order for you to prepare the company's bank reconciliation: Balance per company
Q. Corporate accounting and accounting for sole proprietorship? Several textbook authors use a sole proprietorship and a partnership form of business ownership to exemplify acc
Business is an activity performed with the only intention of earning profit. The activity may differ according to the scope and volume.
Why it is important for independent auditor to be a member of a professional body?
A wholesaler lists a refrigerator model at a price of $850 and offers a chain discount of 20% and 10%. What is the net price? A. $476 B. $595 C. $612 D. $644
Bill is an avid angler. His favorite fishing location is Willow Lake, which supports year-round sport fishing. His monthly demand function for fishing at Willow Lake is given by x
How many kind of Assets?
roberta santos
Q. Define Expenses in terms of accounting? Expenses are outflows or else other using up of assets or incurrence of liabilities (or a combination of both) from rendering service
At the starting of the year, Hernandez Company had total assets of $872,310 and total liabilities of $497,500. (a) If total assets enhanced $147,320 during the year and total li
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