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Q. What is periodic inventory procedure?
In the periodic inventory procedure the Merchandise Inventory account is updated periodically subsequent to a physical count has been made. Habitually the physical count takes place immediately before the preparation of financial statements.
Mr. Horace, aged 25, has $25,000 cash to invest for his retirement. In addition, he plans to save and invest $8,000 per year (at the end of every year) for the next 40 years, at wh
Q. What do you mean by depreciable asset? A depreciable asset is a manufactured asset such like a building, vehicle, machine or piece of equipment that provides service to a bu
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Received security deposit from tenants
Q. What do you mean by Cross-indexing? Usually, accountants should check and trace the origin of their transactions so they provide cross indexing. Cross-indexing is the insert
On January 1, 2012, Muller Co. borrowed cash from Washington Valley Bank by issuing a $100,000 face value 3-year installment note payable that carried a 7% interest rate. The note
state why carriage inwards is stated on the trading account
How do you round up to one decimal point using percentages? Example 0.207 Thanks
Cooperton Mining just announced it will cut its dividend from $4 to $2.50 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expecte
Q. Database management system - accounting perspective? A database management system stores related data-such like monthly sales data products, salespersons, customers and sale
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