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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.
You recently landed your dream job working for the state as an accountant. You are given the task to research several state and local governmental financial accounting issues. F
Gwinnett Park Co. reported net income of $506,600 for its fiscal year ended September 30, 2014 . At the beginning of that year, 150,000 shares of common stock were outstanding. On
what is implication wrongly application of accounting concept#
Management accounting and financial accounting Accounting is generally seen as having two different strands which are: ? Management accounting that seeks to meet accounting
Explain Carriage inwards.
ABC Insurance Company offers individual auto and home insurance servicing the East Coast. The company''s home office is located in Albany, New York. However, ABC Insurance Company
Q. Show types of activities performed by business organizations? The forms of business unit examined in the previous section are classified according to the type of ownership o
The range of accounting can be presented in a diagrammatic form. Data collection and creation is the area that provides raw material for accounting. The data collecte
Consistency Concept In practice, there are some manners to record an event or a transaction in the books of account. For illustration, the trade discount on raw material purch
Stewart Company sold 180 units @ $320 each on October 31, 2012. Cash selling and administrative expenses were $15,000. The following information is also available: The
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