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Q. What is Accrued expenses?
Accrued expenses, accruals -- an expense that has been incurred though not yet paid for.Salaries are a good instance. Employees earn or accrue salaries each hour they work. Thesalaries continue to accrue till payday when accrued expense of the salaries iseliminated.
Write the difference between budget & budgeting? Ans) An estimation of the revenue & expenses over a specified future period of time. A budget can be made for a person, family,
what is meaning by parallel accounts
Explain any two concepts of accounting with examples
Accounting information systems' output is required by external and internal users for decision making. you are required to use the following trial balance to prepare financial stat
Webster, Inc. began operations at the start of the present year, having a production target of 60,000 units. Real production totalled 60,000 units, and the company sold 95% of its
Distributions to owners are reducing in equity of a particular business enterprise resulting from transferring rendering services, assets or incurring liabilities by the enterprise
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912
Assume we had given tour advance to party how to treat entry and which head have to given expenditure? Ans) Cash/Bank a/c DR To Party(name)a/c (Advance Paid For Tour)
Q. What is FOB shipping point? FOB shipping point signifies free on board at shipping point. The buyer acquires all transportation costs after the merchandise has been loaded o
Q. Explain about Staff accountant? Let us travel with Tracy as she begins her career at the staff level. At the onset, she works directly under a senior accountant on each of h
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