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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.
Q. What do you mean by consigned goods? FOB destination, freight collect - Seller acquires freight charges and buyer initially pays freight charges. Buyer deducts freight accus
Explain the meaning of Payroll Deductions There are numerous deductions taken from an employee's earnings. These are deducted by employer before employee receives a check. D
Exercise 5-2 - Harwick company. 1) On April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2)On April 6, paid freight costs of $
tugade ,masinsin and biore are all famous athletes who have been operating a sports memorabilia store for how many years .The partnership decided to liquadate its operation rather
What is the typical time span for long-range plans? A. More than 1 year C. 3-5 years B. 2-3 years D. About 25 years
Analyzing and using the financial results trend percentages It is occasionally more informative to express all the dollar amounts as a percentage of one of the amounts in the b
Q. Valuation of ending inventory? First a merchandising company should be sure that it has properly valued its ending inventory. If the resulting in an ending inventory is over
wat is assets and its types?
At December 31, 2011 and 2010, Miley Corp. had 180,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were decl
How do you round up to one decimal point using percentages? Example 0.207 Thanks
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