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Q. What do you mean by Overhead?
Overhead -- a cost that doesn't vary with the level of production or sales and generally a costnot directly involved with sales or production. The chief executive's salary and rent are typically overhead.
There is almost not, any organization that does not have an accountant. His task is all pervasive and he is included in a broad range of activities, particularly in a huge and comp
Q. Recording changes in revenues and expenses? Examine that Notes Payable, liabilities and increase with an entry on the right (credit) side of the account. Recording changes i
Q. Explain about Accrued liabilities? Accrued liabilities are liabilities not so far recorded at the end of an accounting period. They represent responsibility to make payments
what is the implication of applying accounting concepts wrongly
Q. Why we need book value? Book value -- total assets minus total liabilities. Book value also meansvalue of an asset as recorded on the company's financial reports or books. B
WHO PREPARES A TRADING ACCOUNT AND WHY?
Goodwill is an intangible asset of a organization which contains company reputation, fame etc., By goodwill company share value may enhances
Classify the following items as (a) deferred expense (prepaid expense), (b) deferred revenue (unearned revenue), (c) accrued expense (accrued liability), or (d) accrued reven
On october 31 A fund accrued 2000.00 for legal fees. In November 2000 the fund received an invoice. for October 2008 legal fees for an amount of $2500 and paid the invoice on Nov
Q. Show Journalizing adjusting entries? Subsequent to completing Micro Train's financial statements from the work sheet you should enter the adjusting entries in the general jo
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