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Financial statements
Summaries of financial activities are known as financial statements that are prepared on a regular basis at the end of an accounting period. Accounting period typically is one year; though, it can be any length of time for that records are maintained. Generally the minimum is one month and maximum length of time is one year for financial statements.
There are various financial statements. You are going to prepare Income Statement, Statement of Owner's Equity, and Balance Sheet. These should be completed in that order. It is very significant to always check your numbers as an incorrect number would affect more than one statement.
How many kind of Assets?
Q. Show Debit and Credit column? - Debit column. In the debit column the sum of the debit is on the same line as the title of the account debited. - Credit column. In the cr
Calculate WACC and Rate of Return Capital Structure: 50% debt and 50% equity financing Current cost of debt is 2% above prime (Prime is currently 2.5%) cost of equity is e
Adjusting Journal Entries = These are the entries which are not recoded and is to be adjusted at the end of the year .For example; Supplies in hand Supplies expense A/C Dr. and
Fixed Assets An additional categorization other than current or long-term is as well used for property. A "fixed asset" is an asset which is planned to be of a lasting nature a
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Difference between Debit and Credit Debit- used to record employer's FICA taxes, state unemployment taxes and federal unemployment taxes incurred during an accounting period
what is the accounting concepts and conventions? and what is the procedure to follow the accounting formats
Houston Corporation has the following stock outstanding: In 2012, Houston paid $330,000 in dividends. No dividends were paid in 2011 or 2010. Required : a)
How to setup T accounts
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