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Q. What do you eman by Expenditure?
Expenditure -- an expenditure takes place when something is attained for a business -- an asset isbought, salaries are paid and so on. An expenditure affects balance sheet when itoccurs. Though an expenditure won't essentially show up on the income statement oraffect profits at the time the expenditure is made. All expenditures ultimately show up asexpenses that do affect the income statement and profits. Although most expendituresinvolve the exchange of cash for something, expenses need not to involve cash.
Part 1 (a) Name and describe the three concepts that form the basis of double entry bookkeeping, and explain how they form the basis of double entry bookkeeping. (b) How doe
I purchased equipment for 3,000 but only paid 1,000 of it and put rest of it on an account. how would I put that into a asset=liabilities+ owns equity equation?
Please use the following information to answer questions 4-5: Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-
A company absorbs overheads on machine hours that are budgeted at 11,250. The budgeted overhead is $281 250. Results illustrate actual hours of 10 980 and overhead of $276 652.
Money payable by customers (individuals or corporations) to the other entity in exchange for goods or services that have been given or used, but not yet paid for. Receivables typic
test 1
what accounts go into a balance sheet
Split common stock 4 to 1 and reduced PAR from $80 to $20. After the split there were 600,000 shares.
The balance sheet account as of July 31, 1995 for XYZ company are : Capital: (fix lib) 35,630 Office Equipment (ass) 16730 Delivery
Q. Illustrating the recording of sales returns? Following are two instances illustrating the recording of sales returns in the Sales Returns and Allowances account - Suppose
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