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Q. What do you understand by Deferred income?
Deferred income -- a liability which arises when a company is paid in advance for services orgoods that will be provided later. For illustration when a magazine subscription is paid inadvance, magazine publisher is liable to provide magazines for the life of subscription. The amount in deferred income is reduced as magazines are delivered.
what are the basic theory of accounting
Profitability refers to a company's ability to obtain profits and positive cash flows and to its ability to obtain an adequate return on invested capital or a company's ability to
Q. Define the accounting process ? The accounting process offers financial data for a broad range of individuals whose objectives in studying the data vary widely. Bank officia
20 hypothetical inventory transactions both sale and purchase
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Q. Show accounting deception situations? In 2002 The Sarbanes-Oxley Act was approved. The Act was approved as one result of the large losses to the employees and investors from
Verify the amount to be paid within the discount period for purchase with an invoice price of $7,745, subject to credit terms of 2/10, n/30.
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
Question 1: What are the kinds of inventory? Transaction inventory Speculative inventory Precautionary inventory Question 2: Explain in brief the invent
The measurement of expense Accountants measure largely assets used in operating a business by their historical costs. Consequently they measure a depreciation expense resulting fro
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