#title.blessing., Accounting Basics

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Implication of applying accounting concept wrongly

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What do you mean by unearned revenue, Q. What do you mean by unearned reven...

Q. What do you mean by unearned revenue? A liability/revenue adjustment concerning unearned revenues covers situations in which a customer has transferred assets typically cash

Trial balance, 2013, May 1st: 1 started in bnusiness with capital in cash o...

2013, May 1st: 1 started in bnusiness with capital in cash of 1,800 and 4,200 in the bank. 2nd: Bought goods on credit from: j.Ward 600, P.Green 515

What is difference between super stockist and distributor, Super stockist i...

Super stockist is one who supply product to n no. of distributor in area. Distributor is one who supply to dealers in the area

Ethical behavior of accountants, Numerous accounting organizations have cod...

Numerous accounting organizations have codes of ethics governing the behaviour of their members. For example both the American Institute of Certified Public Accountants and the Ins

Lifo under periodic inventory procedure, Q. LIFO under periodic inventory p...

Q. LIFO under periodic inventory procedure? The LIFO (last-in, firstout) method of inventory costing presume that the costs of the most recent purchases are the first costs cha

As part of their divorce agreement, As part of their divorce agreement , Ha...

As part of their divorce agreement , Harry transfers to Mary, his former spouse, GM stock with a market value of 30000, Harry had $20000 invested in the stock. How does this transf

What is an accounts receivables?, Money owed by a business enterprise for m...

Money owed by a business enterprise for merchandise bought on open account. It is also known as  "A/R" or just "Receivables". Accounts Receivable is the quantity owed to a company

Pro forma financial statements, Pro forma Financial Statements In ...

Pro forma Financial Statements In accounting, a financial statement in which the amounts begin are fully or partially estimates; from the Latin for "as a matter of form."

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