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Q. What is Merchandise inventory? Merchandise inventory is the cost of goods on hand in addition to available for sale at any given time. To determine the cost of goods sold in
entry for bad debts provision
Q. What is sales allowance? A sales allowance is a inference from the original invoiced sales price granted when the customer keeps the merchandise but is dissatisfied for any
Q. Describe Exceptions to the realization principle? Exceptions to the realization principle: The following illustrations are instances when practical considerations may cause
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p
data dictionary
what is Prepaid expense ?
The owner's equity of Logan's company is equal to one quarter of the total assets. Liabilities equal $60,000. What is the amount of owner's equity?
A characteristic organization chart for finance and accounting function is presented in following figure 2. You will notice the person at the helm of affairs the Director of Financ
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