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Q. What are Accounting software packages?
Accounting software packages are normally menu driven and organized into modules such as accounts payable, general ledger, accounts receivable, invoicing, inventory, payroll, fixed assets, job cost and purchase order. For example general journal entries are made in the general ledger module and this module contains all of the company's accounts. The accounts payable module records every transaction involving credit purchases from suppliers and payments made to those suppliers. The accounts receivable module records every sale on credit to various customers and amounts received from customers.
Q. Comparability in accounting information? When comparability exists reported similarities and differences in financial information are real and not the result of differing ac
Process Solutions provides a computer-based document processing service. The accountant has produced the following analysis. Standard Modifi
Why to and by using in journal, trading a/c, p&l a/c and ledger?
80 - 20 rule - A common rule of thumb in business which says that 20% of the items produce80% of the action -- 20% of product line produces 80% of the sales, 20 percent of thecusto
Q. Cash equivalents and investments? Cash as well as cash equivalents consist of cash on hand and marketable securities with original maturities of three months or less. SFA
contractee account is it an assets account or expenses Account
Cartwright inc has $1,000,000 of 10% bonds outstanding on December 31, 20x8. On January 1, 20x9 adams corp and 80% owned subsidiary of Cartright, inc purchases a $250,000 part of c
Q. Show Journalizing adjusting entries? Subsequent to completing Micro Train's financial statements from the work sheet you should enter the adjusting entries in the general jo
paid rent $200 by cash
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
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