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Assume in Balance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?
Ans) only 600000 worth of building is used for office purposeso only 600000 will be displaying in the balance sheet as the building used for residential reason will not be given as it is personal
Management accounting and financial accounting Accounting is generally seen as having two different strands which are: ? Management accounting that seeks to meet accounting
Revenues from the theatrical supply of motion pictures are recognized when motion pictures are exhibited. Television licensing revenues are recorded while the program material is a
Journal Entries are recorded on a double entry system like debit and credit concept. In order to record a journal entry the following steps require to be followed. ? Enter the J
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
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912
Scenario Sara Jones opened a technical consulting business called Hi-Tech For the Future earlier in the year. So far, she has been successful in providing services and selling
Cash Book: It is one of the Subsidiary Book which is usually used by any business organisation to record all the cash transactions which helps to know the cash position as and when
Accrual basis of accounting means that the costs or revenues of events are renowned in the period in which they happens; by the cash flows may take place in another accounting peri
a physical inventory on december 31 shows 2,000 units on hand. holliday sells the units for $12 each. the company has an effective tax rate of 20%. holliday uses the periodic inv
Q. Explain about accounting cycle? when an event is a measurable business transaction you require adequate proof of this transaction. After that you analyze the transaction's e
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