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Q. What do you mean by Liabilities?
Liabilities are the debts outstanding by a business. Usually a business should pay its debts by certain dates. A business acquires many of its liabilities by purchasing items on credit. Metro's liabilities contains of accounts payable amounts owed to suppliers for previous purchases and notes payable written promises to pay a specific sum of money totalling USD 6600. Metro Courier Inc is a company. The owners' concern in a corporation is referred to as stockholders' equity. Metro's stockholders' equity comprise of USD 30,000 paid for shares of capital stock and retained earnings of USD 2,100.
Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac
Which of the following about debits and credits is false? A. Credits increase revenues, gains and bonds payable B. Debits increase salaries expense and prepaid expenses (prepayment
While perusing medical practice, is the cost of supplies, for patients on site, considered as an inventory, or an incidental cost? With 2 million in sales the chemotherapy medicine
If my company sells 4000 shares of common stock for $86,400, how do I record this in the Journal?
Remedies of overtrading
Billable expenses are those expenses incurred by you on behalf of your client in performing duties / supply and service. These expenses are recoverable from your customer by way of
I need help understanding and filling out an income statement packet!
Notes to financial statements
Q. How to determine inventory cost? To place the proper evaluation on inventory a business must answer the question: Which costs must be included in inventory cost? After that
The trial balance of Bellemy Fashion Center contained the following accounts at November 30, the end of the company’s fiscal year.
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