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Q. What is credit balance?
If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an Accounts Payable account with a total of USD 10000 in debits and USD 13000 in credits. The account contained a credit balance of USD 3000 as shown in the following T-account Normal balances ever since debits increase expense, asset and dividend accounts they usually have debit or left-side balances. On the contrary for the reason that credits increase retained earnings, liability capital stock and revenue accounts they normally have credit or right-side balances.
This is due to every organization wants profit to operate, and as results the fmcg gods turn to have a moving market than that of the hardware goods, because the products does not
Dividing Partnership Income Desmond Drury and Ty Wilkins have decided to form a partnership. They have agreed that Drury is to invest $44,700 and that Wilkins is to invest $1
ERS is a business process among trading partners that conduct commerce without invoices. In an ERS transaction the supplier ships goods based upon an Advance Shipping Notice (ASN)
Debenture holder are those who gives long term loan at specific interest rate in term of cas. Creditor gives only short term credit in term of cash for purchasing of goods.
Determine the specific citation for accounting for each of the following items: 1. Accounts receivables from related parties should be shown separately from trade receivables. 2. T
Though the results of the operations of an exact enterprise can be termed as precisely only after the business has ceased to control, its assets have been sold off and responsibili
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
Q. What do you mean by Salaries? The recording of the payment of employee salaries typically involves a debit to an expense account and a credit to Cash. But for a company pays
Julie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $100 each week to her company's 40
the guinegog is a trader in portable cd-man. His budgeted output is 5000 units per quarter. The following data was available for the year 1998: Direct labour @ $6 Direct material @
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