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Selling the rights to the quantity owing by debtors to a finance company for an agreed amount (which is a lesser amount of than the figure at which they are recorded in the accounting books due to the finance company requires to be paid for giving the service).
Harry and Sally were divorced three years ago. In July of the current year, their son, Joe, broke his arm falling out of a tree. Joe lives with Sally and Sally claims him as a de
stion 8 of 20 5.0 Points Merchandise lists for $5,000 with a trade discount of 10% and terms of 5/30, 3/60, n/90. If the purchaser is invoiced on April 12th and payment is m
A portion of company profits allocated by an employer, in good years, to an employee's trust.Contributions on behalf of every employee are expressed as a percentage of salary with
The widget industry is perfectly competitive. The industry demand and supply functions for widgets are given below. Q d = 424 - 40P Q s = 40 + 8P a. What is the equi
Received security deposit from tenants
Q. What is matching principle? Expense recognition is closely related to as well as sometimes discussed as part of the revenue recognition principle. The matching principle sta
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
Q. What is Inventory? Inventory -- Supply or stock of products and goods that a company has for sale. Amanufacturer may have 3 kinds of inventory: raw materials waiting to be c
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
Q. Explain about pegboard system? One more innovation in manual systems was the one write or pegboard system. Beside creating one document and aligning other records under it o
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