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Q. What is Accounts receivable?
Accounts receivable as well called trade accounts receivable are amounts owed to a business by customers. An account receivable occurs when a company performs a service or sells merchandise on credit. Customers usually provide no written evidence of indebtedness on sales invoices or delivery tickets except their signatures. Notice that the term net in the balance sheet of The Home Depot Exhibit 26. This term specify the possibility that the company may not collect some of its accounts receivable. In the balance sheet the accounts receivable amount is the total of the individual accounts receivable from customers shown in a subsidiary ledger or file.
Q. What do you understand by Revenue? Revenue -- Amounts received by or due a company for services or goods it provides tocustomers. Receipts are cash revenues. Revenues can al
what is implication wrongly application of accounting concept#
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
preparing trial balance with balance method
Q. Describe the Cost of sales? Cost of sales, cost of goods sold -- expense or cost of all items sold during an accountingperiod. Every unit sold has a cost of sales or cost of
Question 1 What is cash book? Explain the different types of cash book 2 Prepare a trial balance from the following Particulars Amount Rs.
on which shares pre acquisiton dividend received
Q. Explain about Long-term investments? A long-term investment habitually consists of securities of another company held with the intention of (a) obtaining control of another
contractee account is it an assets account or expenses Account
Determine about the Sales returns and allowances Allowance results when a buyer decides to keep defective or damaged goods though at a reduction from the original price.
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