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Money owed by a business enterprise for merchandise bought on open account. It is also known as "A/R" or just "Receivables". Accounts Receivable is the quantity owed to a company by its customers and/or employees.
Q. Dependability of information? Additionally to being relevant information must be reliable to be useful. Information has reliability when it faithfully describes for users wh
The formula for computing additional paid-in capital in excess of par is shares of stock times Saturday
Sucked into a wormhole while spending time in outer space, you land in a perfect world where accountants are worshipped and paid extravagantly. As an accountant, you're immediately
Uses of the Profit and Loss Account 1) The key utilize is to monitor and calculate profit. This suppose that the informat ion recording is correct. Significant harms can arise
What are steps to explain supplier? Ans) Supplier should follow the check list. 1 He should make confidence in the client mind 2 Services to be completed (fulfilled in tim
Establishing the Change Fund Change Fund (asset) is debited and Cash is credited. Only time this fund would be used is if the fund is established or increased, just like Pet
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
Criticisms against setting of Accounting Standards: 1. Setting of Standards may occasionally control the type of treatment of definite items. 2. They may generat
solutions for chapter 8
Q. What do you understand by Deferred income? Deferred income -- a liability which arises when a company is paid in advance for services orgoods that will be provided later. Fo
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