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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. Show Recording changes in assets? Recording changes in assets, liabilities, and stockholders' equity While recording commerce transactions remember that the foundation of
Q. Explain about Amortize? Amortize -- to charge a regular part of an expenditure over a fixed period of time. Forinstance if something cost $100 and is to be amortized over te
GAAP that is Generally Accepted Accounting Principles encompass the conventions, rules and processes necessary to explain accepted accounting practice at an exact time........gener
the consequences of non-compliance of each of the accounting concepts.
The balance sheet account as of July 31, 1995 for XYZ company are : Capital: (fix lib) 35,630 Office Equipment (ass) 16730 Delivery
General rationale financial statements provide much of the information needed by external users of financial accounting. These financial statements are official reports providing i
Q. What is Merchandise inventory? Merchandise inventory is the cost of goods on hand in addition to available for sale at any given time. To determine the cost of goods sold in
Q. Gain and loss recognition principle? The gain and loss recognition principle states that we record gains merely when realized but losses when they first become evident. Ther
WHAT DO YOU MEAN BY CUM- INTEREST PRICE
Could the choice of recording a capital asset impairment or not, impact the financial statements significantly? Explain.
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