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Accrual basis of accounting means that the costs or revenues of events are renowned in the period in which they happens; by the cash flows may take place in another accounting period.
Like for a period of July 05 - October 05, if the organization was because of receive 1000K from an individual X but has not received yet for some reason, will receive in November 05. It would be still be accounted for in the period July 05 - October 05 and not the period initial from November 05.
Control of independent demand inventory items
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You won a lottery which pays $10,000 per year for 10 years (at the end of each year). Assuming a discount rate of 8% calculate the present value of your expected winnings
Q. Explain about trade discount? A trade discount is a percentage deduction or else discount from the specified list price or catalogue price of merchandise. Companies utilize
Goodwill is an intangible asset of a organization which contains company reputation, fame etc., By goodwill company share value may enhances
Q. Balance Sheets of a limited company are shown in figure as on 31 st December, 2008 and 2009: Taking into account the following additional information, give a statement
Q. What do you mean by Net sales? We demonstrate a condensed income statement to emphasize its major divisions. Next, we explain the more complete income statement actually pre
how do I do a cash payments journal?
The Olympic Company has an accounts receivable balance at December 31, 2010 of $159,548.00. The existing balance in the Allowance for Uncollectible Accounts was a credit of $2,563
I need help understanding and filling out an income statement packet!
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