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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.
Q. Illustrate a simple accounting system? James Stevens was captivating an accounting course at State University. as well he was helping companies find accounting systems that
formation of partnership and changes in constitution of parternship
Purpose To assess your ability to: •apply REA ontology concepts to an organization •prepare diagrams for the identification of the flow of data through an organization
Under both GAAP and tax depreciation, an asset cannot be depreciation until it has been
1) A) Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assu
Write the difference between budget & budgeting? Ans) An estimation of the revenue & expenses over a specified future period of time. A budget can be made for a person, family,
The injection molding department of a company uses an average of 30 gallons of special lubricant a day. The supply of the lubricant is replenished when the amount on hand is 170 ga
How do you round up to one decimal point using percentages? Example 0.207 Thanks
Is the interest on a note receivables recorded if paid prior to the due date? A. Debit to interest expense B. debit to interest payable C. Credit to interest receivable D. Credit
Why to and by using in journal, trading a/c, p&l a/c and ledger?
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