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The career paths outlined above don't nearly cover all of the many professional options available to tax specialists. For instance are you concerned that a traditional tax accounting job may be too tame for you? Extraordinary agents of the IRS routinely participate in criminal investigations and arrests working closely with other federal law enforcement agencies. Are you aware in law? Accounting tenders an ideal undergraduate degree for aspiring business and tax attorneys. If you imagine you may be interested in a career as a tax specialist be sure to consult with one of your school's tax professors about the many job opportunities this field provides.
Enumerate the term- Cash discounts Offered to encourage prompt and early payment by buyer. Cash discounts are recorded in accounting records of both the buyer and the seller. S
Q. Last-in first-out inventory? LIFO (last-in first-out): Ending inventory contains of the oldest costs. LIFO presumes that the costs of the most recent purchases are the first
Dividing Partnership Income Desmond Drury and Ty Wilkins have decided to form a partnership. They have agreed that Drury is to invest $44,700 and that Wilkins is to invest $1
Explain the term- Reversing entries and Interim statements Reversing entries - Made the first day of new accounting period. They are exact opposite of the adjusting entries
Tips to be keep in mind while preparing the Financial Statements : 1. Objects given in the trial balance must be revealed only once as it is assumed that they are already adjust
Ordering inventory at a regular and set time interval
Prepare a trial balance All account names would be listed in left-hand column. Place the account balance in appropriate debit or credit column for those accounts which have
Ower invested cash in the company along with equipment at market value, the amount is considered part of capital or revenues?
Adjustments for financial reporting - Explain the basic characteristics of the cash basis and the accrual basis of accounting. - Recognize the reasons why adjusting entries
If my company sells 4000 shares of common stock for $86,400, how do I record this in the Journal?
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