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Q. What is Owners invested cash?
When Metro Courier Inc was structured as a corporation on 2010 June 1 the company issued shares of capital stock for USD 30000 cash to Ron Chaney, their son and his wife, This transaction improved assets (cash) of Metro by USD 30000 and increased equities the capital stock element of stockholders' equity by USD 30,000. so the transaction yields the following basic accounting equation:
Answer the following questions in 200 to 300 words: · Nonprofit organizations are required to produce financial statements based on the accrual method of accounting
on 10/15 the academy agreed to teach a four month class (beginning immediately) to an individual for $2,200 tuition per month payable at the end of the class. the class started on
Determining the physical quantity that should be contained in inventory normally is a simple matter because that amount have of items in the possession of the company. The cost of
find cost of goods sold
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
Q. What is accrual basis of accounting? In the following illustration, notice that every business transaction affects two or more accounts in the ledger. As well note that
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
During the tracking period, 18 March to 21 April 2011, your team is to monitor the performance of the shares and the overall performance of the Australian share-market. Can you ma
leagl provision of partner ship accounts
Q. Example of accumulated depreciation account? The accumulated depreciation account doesn't represent cash that is being set aside to change the worn out asset. The un-depreci
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