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Q. What do you mean by note?
A note is an unqualified written promise to pay another party the amount owed either when demanded or at a certain specified date habitually with interest a charge made for use of the money at a specified rate. A note receivable become visible on the balance sheet of the company to which the note is given. A note receivable occurs when a company makes a sale and receives a note from the customer when a customer gives a note for an amount due on an account receivable or when a company loans money and receives a note in return. Section 9 discusses notes at length. Other current assets might comprise interest receivable and prepaid expenses. Interest receivable arises when a company has earned however not collected interest by the balance sheet date. Typically the amount isn't due until later. Prepaid expenses comprise insurance, rent and supplies that have been paid for but all the benefits have not yet been realized (or consumed) from these expenses. If prepaid expenses hadn't been paid for in advance they would require the future disbursement of cash. Additionally prepaid expenses are considered assets because they have service potential.
Explain the meaning of Payroll Deductions There are numerous deductions taken from an employee's earnings. These are deducted by employer before employee receives a check. D
Mohan brothers invoiced goods to their branch at cost plus 33.33%. All the cash collected by branch is banked on the same day to the credit of head office. All expenses are paid by
10% preference share 336 ooo ordinary share capital 480 000 prepare a statement of profit or loss
AL MASA a sole trader,decided to install a new machine to use within her sole trader business
Recording Private Company Credit Card Sales Goes to the individual company-not a bank. Treated as a sale on account. Credit card Company is responsible for collection of
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
i need systems understanding aid 7th edition answers!
What is procedure for testing after implementation as functional consultant? Ans) Testing involves a step by step check of several transactions configured in the SAP system.
Describe in brief about the Wholesalers They buy goods in bulk from manufacturers and sell them to retailers, other schools, wholesalers and other non-profit institutions, and
What are steps to explain supplier? Ans) Supplier should follow the check list. 1 He should make confidence in the client mind 2 Services to be completed (fulfilled in tim
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