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Q. What is accounting system?
Accrual basis, system, or method -- an accounting system which records revenues andexpenses at the time when transaction takes place,not at the time when cash changes hands. If you purchase acoat and charge it, store records or accrues the sale when you walk out with that coat, notwhen you pay your bill. Cash basis accounting is used by individuals. Accrual basis accountingis used by most businesses.
Workout Expenditures Professional fees (legal, accounting, appraisal) paid to entities unaffiliated with the investment company's advisor or sponsor in connection with any of t
Accrual Concept The accrual concept makes a distinction among the receipt of cash, and the right to obtain it, and the payment of cash and the legal obligation for pay it. In
Ledger = From the Journal entries we will post the transactions in a book known as Ledger. Ledger is a book which contains the summarized and classified form of permanent record
What if the public holiday falls on a rest day? how to pay and which one is?
Cowhand's Bar-B-Q House went into business on January 1, 2009. The following information is available at December 31, 2009: Sales revenue for the year $30
What is the implication of applying accounting concepts wrongly?
Q. Equity segment of a corporate balance sheet? The stockholders' equity segment of a corporate balance sheet can become more complex as you will see later in the text. But the
Q. Example of Electronic spreadsheets? Electronic spreadsheets have many applications in accounting. An electronic spreadsheet is basically a large blank page that contains row
on which shares pre acquisiton dividend received
Q. Describe about accounting. Why is it called language of business? Accounting is known as -an art of recording, classifying and summarizing transactions and events in a si
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