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Q. What is Accumulated depreciation?
Accumulated depreciation is a contra asset account to depreciable assets such like machinery, buildings and equipment. This account illustrates the total depreciation taken for the depreciable assets. On the balance sheet companies subtract the accumulated depreciation (as a contra asset) from its related asset.
security deposit received from tenant
Q. Show Adjustments for deferred items? This segment discusses the two types of adjustments for deferred items asset/expense adjustments and liability/revenue adjustments. In t
Remedies of overtrading
Q. Seasonality in sales? Based upon its operating record the company believes that its business is seasonal. Excluding the result of net sales, new store openings and earnings
Current Assets are $70,000, non-current assets are $150,000, current liabilities are $40,000 and long term liabilties are $30,000. What is the debt to equity ratio? 0.47 Stock h
Q. Explain about perpetual inventory procedure? When discussing inventory we require clarifying whether we are referring to the physical goods on hand or the Merchandise Invent
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Q. Show Debit and Credit column? - Debit column. In the debit column the sum of the debit is on the same line as the title of the account debited. - Credit column. In the cr
Q. What is Operating revenues? Operating revenues are the revenues generated by the main activities of the business- generally the sale of products or services or both.
Why is it more difficult to account for the inventory of a manufacturing firm than for that of a merchandising firm?
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