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Q. What is Cyclic reporting?
Cyclic reporting and the matching principle necessitate the preparation of adjusting entries. Adjusting entries are journal entries prepared at the end of an accounting period or at any time financial statements are to be prepared to bring about a proper matching of expenses and revenues.
Q. Show Journalizing adjusting entries? Subsequent to completing Micro Train's financial statements from the work sheet you should enter the adjusting entries in the general jo
How can I capitalize my patents? My company has applying for a patent and I want to capitalize the research and development expenditures. I know it will cost some legal charges and
what is implication wrongly application of accounting concept#
Assorted fund, a U.K.-based globally diversified equity mutual fund, is considering adding Talisman Energy Inc. (Toronto Stock Exchange: TLM) to its portfolio. Talisman is an indep
Received and paid the telephone bill for $231 including GST
Q. Understand how to account for transportation costs? FOB terms are particularly important at the end of an accounting period. Goods in transit after that belong to either the
Acquired a shop on monthly rent for Rs. 3,000 after paying cash Rs. 36,000 as advance rent ??
HOW TO DO DOUBLE ENTRY QUESTIONS
Concept of Conservatism: The concept of conservatism, also termed as the concept of prudence, is frequently stated as "anticipate no profit, give for all possible losses". It
Q. What is Fixed cost? Fixed cost -- a cost that doesn't change as sales volume changes (in the short run.) Fixedcosts generally include such items as rent, interest, depreciat
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