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Q. Procedure of recording business transactions? The raw information of accounting is the business transactions. We documented the transactions in section 1 as increases or dec
ERS is a business process among trading partners that conduct commerce without invoices. In an ERS transaction the supplier ships goods based upon an Advance Shipping Notice (ASN)
Q. Describe about Expense? Expense -- an expenditure that is chargeable against revenue during an accounting period.An expense leads to the reduction of an asset. All expenditu
Q. Economic substance of the transaction? In a few business transactions the economic substance of the transaction conflicts with its legal form. For instance a contract that i
1.A business man strated business with 100million on the bank account obtained as a retirement package, 2.He used part of the money and bought a building worth 60 million, 3.He let
Q. Explain about Gross margin method? The steps in computing ending inventory under the gross margin method are - Estimate gross margin based on net sales using the similar
help with journalizing payroll transactions and filling on the cash payments journal, may 15, paid cash for april's payroll tax liability. withheld taxes from april payrolls; emp
Q. Explain about trade discount? A trade discount is a percentage deduction or else discount from the specified list price or catalogue price of merchandise. Companies utilize
collection of data and methodology
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